Premises. Landlord leases to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1.
Appears in 3 contracts
Samples: Lease (SVMK Inc.), Lease (SVMK Inc.), Sublease (Zuora Inc)
Premises. Landlord leases shall endeavor to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor tender possession of the Premises shall be considered part of (with the PremisesTenant Improvements and the Core and Shell Work Substantially Complete) to Tenant on or before the Estimated Delivery Date. The Premises shall be part of If Core and Shell Work or the Building to be constructed by Landlord Tenant Improvements as required pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On Work Letter are not Substantially Complete on or before the date that is ninety (90) days after the Estimated Delivery DateDate for any reason whatsoever, then this Lease shall not be void or voidable, Landlord shall measure not be liable to Tenant for any loss or damage resulting therefrom and the rentable square feet Term Commencement Date shall not occur until Substantial Completion of Core and Shell Work and the Tenant Improvements occurs; provided, however, if the satisfaction of the Premises in accordance with requirements for Substantial Completion of Core and Shell Work or the Office Buildings: Methods Tenant Improvements have been delayed by any Tenant Delay, Substantial Completion of Measurement Core and Calculating Rentable Area Shell Work and the Tenant Improvements shall be deemed to occur when (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted reasonably determined by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation ) Substantial Completion of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in Core and Shell Work and the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Improvements would have occurred if such Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease InformationDelay had not occurred. Within thirty (30) days following such agreement or resolutionafter Substantial Completion of Core and Shell Work and the Tenant Improvements, Landlord’s architect shall calculate and certify in writing to Landlord and Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount Rentable Area of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected Article 9, which calculation must be approved by Landlord and adjust Tenant (both hereby agreeing to act reasonably with respect to granting such approval). “Tenant Delay” shall mean any delay in the commencement or completion of the Core and Shell Work or the TI Work that results from or arises out of any of the following: (1) delays or failure of Tenant to deliver items in accordance with the Work Letter attached hereto as Exhibit G; (2) Tenant’s Proportionate Share based on such remeasurementfailure to fulfill its obligations as set forth in this Lease or the Work Letter (including any failure to review or approve or disapprove any items in accordance with the Work Letter); provided(3) delays caused by Tenant Change Order Requests (as defined in the Work Letter) or TI Tenant Change Order Requests (as defined in the Work Letter); (4) unavailability of materials, however, components or finishes for Core and Shell Work or the Tenant Improvements that any such remeasurement based on differ from Landlord’s standard work or that have an unusually long lead-time for delivery; (5) a change in measurement standard only shall not affect willful or negligent act or omission of Tenant or Tenant’s Agents that interferes with the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage progress of the Premises. work; (6) failure of Landlord and Tenant acknowledge to agree (for any reason, provided Landlord acts in good faith and diligently to work with Tenant with respect to the Budget) on a mutually agreeable Budget within ten (10) calendar days after Landlord delivers a draft Budget to Tenant or any request by Tenant that physical changes may occur from time the scope of the Tenant Improvements be modified in connection with the Budget; or (7) delays caused by any revision to time the Budget or TI Tenant Change Order Request. Landlord shall endeavor in good faith to provide Tenant with at least thirty (30) days prior written notice of the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1date when Landlord believes the Term Commencement Date will occur.
Appears in 3 contracts
Samples: Lease (NanoString Technologies Inc), Lease (NanoString Technologies Inc), Lease (NanoString Technologies Inc)
Premises. Landlord leases Subject to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth in this Lease, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the PremisesPremises as shown on Exhibit A-1. All corridors Tenant has determined that if constructed in accordance with this Lease, the Premises will be acceptable for Tenant's use and restroom facilities located on each floor Tenant acknowledges that neither Landlord nor any broker or agent has made any representations or warranties in connection with the physical condition of the Premises shall be considered part of the Premisesor their fitness for Tenant's use. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety Within thirty (9030) days after the Delivery Date, Landlord Landlord's space measurement consultant shall measure verify in writing to Tenant the number of rentable square feet of contained in the Premises and the Building, and such verification shall be made in accordance with the Standard Method for Measuring Floor Area in Office Buildings: Methods of Measurement and Calculating Rentable Area (, ANSI/BOMA Z65.1 – 2010- 1996 ("BOMA"). In the event that Landlord's space measurement consultant determines that the amounts thereof shall be different from those set forth in this Lease, Method B)Landlord shall modify all amounts, as interpreted by Landlord’s architect. As provided percentages and figures appearing or referred to in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on this Lease to conform to such corrected rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Dateincluding, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessarywithout limitation, the amount of Base Rent payable and Tenant's Percentage Share). If such modification is made, it will be confirmed in writing by Landlord to Tenant. Tenant's architect shall have the opportunity, the amount but only within ten (10) days after Landlord's written notice to Tenant of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the verified number of rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty feet (30) days following such agreement or resolution, after which time Tenant shall pay have no right to object to such verification as provided hereinbelow), to consult with Landlord, or Landlord shall pay 's space measurement consultant regarding such verification to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building confirm that Landlord's space measurement consultant's determination is accurate and in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurementBOMA; provided, however, that Tenant shall notify Landlord in writing of any objection to such remeasurement determination no later than three (3) days after Tenant's consultation with Landlord's space measurement consultant. Tenant's failure to timely object to Landlord's determination shall be deemed Tenant's acceptance of such determination and such determination shall then be conclusive and binding upon the parties. Tenant's objection notice, if any, shall include the basis for Tenant's objection to such determination in sufficient detail to allow Landlord's space measurement consultant to investigate such objection. Landlord's space measurement consultant shall, no later than fifteen (15) days after Landlord's receipt of Tenant's objection notice, provide Tenant with a second determination (which may or may not be revised from the first determination based on a change in measurement standard only shall not affect the amount such consultant's reasonable applicable of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or BuildingBOMA standards), which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1second determination shall then be conclusive and binding upon the parties.
Appears in 2 contracts
Samples: Office Lease (Allos Therapeutics Inc), Office Lease (Allos Therapeutics)
Premises. Subject to the terms, covenants and conditions of this Lease, Landlord leases to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of so long as this Lease and part of the Project, as and remains in effect. Tenant shall also have a License to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement required for utility lines and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B)access, as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Recitals and the Basic Lease Information, for so long as this Lease remains in effect. Within thirty (30) days following such agreement Except under a valid lease or resolutionother use agreement, Tenant shall pay to not use or occupy space outside the Premises without the prior written consent of the Authority Director. If Tenant uses or occupies space outside the Premises without the prior written consent of Landlord, or then Tenant shall immediately vacate such space upon Landlord’s request. Without waiving Landlord’s additional remedies, Landlord shall pay have the right to charge Tenant for each day of any such unauthorized use in an amount equal to the higher of the (a) highest rental rate then approved by Landlord's Board of Directors for the applicable land area on a per square foot basis, or (b) then current fair market rent for such area as reasonably determined by Landlord. Landlord shall also impose an administrative penalty, in amount determined by the Authority Director, for any notice to vacate unauthorized space sent by Landlord to Tenant, . In no event shall acceptance by Landlord of this charge or administrative penalty be deemed a consent by Landlord to the amount use or occupancy by Tenant or be deemed a waiver of any deficiency or excess, as the case may be, in the Base Rent previously paidand all other rights and remedies of Landlord under this Lease. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; providedindemnity obligations under this Lease shall include any damage, however, loss or injury occurring in a space that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises Tenant uses or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenantoccupies without Landlord’s Proportionate Share, as provided in Paragraph 7.1consent.
Appears in 2 contracts
Samples: Marina Lease, Lease Agreement
Premises. Landlord leases to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part modified and expanded from approximately 10,089 gross leasable square feet to approximately16,786 gross leasable square feet by the addition of approximately 6,697 gross leasable square feet (the “Expansion Premises”) to the Original Premises. The Expansion Premises shall be as shown as the cross-hatched area on Exhibit A hereto (the contents of which are incorporated hereby by reference). The definitions of “Premises”, “Leased Premises” and “Tenant’s Gross Leasable Area” under section 1.4 of the Building Original Lease are hereby amended, from and after the New Commencement Date (as hereinafter defined) to be constructed include the Expansion Premises for all purposes under the Lease, as amended by Landlord this First Amendment. For purposes of this Lease, “square feet of gross leasable area” shall mean “rentable area” calculated pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises Standard Method for Measuring Floor Area in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI, ANSJ/BOMA Z65.1 – 2010, Method B265.1 -1996 (“BOMA”), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following the date Tenant commences its occupancy of the Expansion Premises, Tenant may, at its sole discretion, elect to cause the number of square feet of gross leasable area of the Premises to be verified by Tenant’s space measurement consultant, and such agreement or resolutionverification shall be made in accordance with the provisions of this section. Landlord’s architect may consult with Tenant’s space measurement consultant regarding verification of the number of square feet of gross leasable area of the Premises; however, the determination of Tenant’s space measurement consultant shall, except as provided below, be conclusive and binding upon the parties. If Landlord disagrees with the square footage as determined by Tenant’s space measurement consultant and gives Tenant written notice thereof within fourteen (14) days after the date Landlord received written notice of such determination, Landlord and Tenant shall, in good faith, attempt to resolve the disagreement. If Landlord and Tenant are unable to resolve the disagreement within ten (10) days following the date Tenant receives Landlord’s disagreement notice, then the parties shall promptly appoint a mutually acceptable architect to remeasure the Premises in accordance with BOMA, and the determination of such architect shall be binding upon Landlord and Tenant. The cost of such architect shall be home by Landlord unless such architect determines that Tenant’s measurement was error by more than three percent (3%), in which event Tenant shall pay to Landlordfor the cost of such architect. In the event that the foregoing measurement determines that the amounts thereof shall be different from those set forth in the Lease, or as amended by this First Amendment, Landlord shall pay modify all amounts, percentages and figures appearing or referred to Tenantin this First Amendment to conform to such corrected rentable square footage (including, without limitation, the amount of any deficiency or excessthe “Base Monthly Rent” and “Tenant’s Allocated Share” as those terms are defined in this First Amendment). If such modification is made, as the case may be, it will be confirmed in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected writing by Landlord and adjust to Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1.
Appears in 2 contracts
Samples: Lease (Nevro Corp), Lease (Nevro Corp)
Premises. Landlord leases to Tenant and Tenant leases from Landlord upon That portion of the terms and conditions hereinafter set forth Building consisting of approximately 114,264 square feet of Rentable Area (as defined in Section 2.12) of office space, as shown on Exhibit B (the “Premises. All corridors and restroom facilities ”), located on each floor Floors 13 through 18 (19,044 RSF per floor) and 3,992 RSF of deck space. Landlord represents that the entire Building is approximately 209,476 square feet of Rentable Area. Provided, however, that the exact amount of Rentable Area in the Premises shall be considered part determined following completion of the Building and preliminary space plans to be prepared by Tenant’s architect. Promptly after Landlord approves the preliminary space plans, Landlord shall submit to Tenant, for Tenant’s reasonable approval, a written certification made by Landlord’s architect of the exact amount of Rentable Area contained in the Premises, including a breakdown by floor. Further, Tenant may at any time within one month after the expiration of the Landlord’s remeasurement period in the following paragraph, engage an independent certified architect or surveyor to measure the Rentable Area of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating If such calculation has a different Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by than Landlord’s architect. As provided in Paragraph 40.7certification, the Roof Top Area parties shall not be included meet in good faith to resolve the calculation of discrepancy. After agreement by the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted parties on the Building Plans (as defined in Rentable Area contained the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolvedPremises, Landlord and Tenant shall execute an a commercially reasonable amendment to this Lease, if necessary, which amendment shall set forth the revised Rent, Tenant’s Pro Rata Share and other modifications to this Lease required by reason of the certified Rentable Area. In no event shall the actual Rentable Area of the Premises be greater than 3% over the sizes set forth herein. The Premises shall include all items installed or constructed therein, or affixed to the Building therein, including but not limited to, doors, partitions, ceilings, built-in cabinets, electrical fixtures, fixtures, outlets, switches, telephone outlets, floor coverings, window coverings, HVAC equipment within and exclusively serving the Premises, and fire and life safety equipment within and exclusively serving the Premises. Notwithstanding anything to the contrary in this Lease, but subject to the provision that in no event shall the actual Rentable Area of the Premises be greater than 3% over the sizes set forth herein, Landlord shall have the right within the first six months following the Commencement Date, within its reasonable discretion, to re-measure the Rentable Area in the Building and to make appropriate adjustments in Tenant’s Pro Rata Share of Operating Expenses and Real Property Taxes and other provisions of this Lease which are affected by such re-measurement. Within ten (10) business days after receipt by the Tenant, the Tenant shall execute, acknowledge and deliver to Landlord a commercially reasonable amendment to this Lease memorializing as prepared by Landlord, which amendment shall set forth the rentable square footage revised Tenant’s Pro Rata Share and other modifications to this Lease required by reason of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount Landlord’s re-measurement of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1.
Appears in 2 contracts
Samples: Office Building Lease, Office Building Lease (Avalara Inc)
Premises. Landlord hereby leases the Premises to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth contained herein. Landlord hereby grants to Tenant a license for the Premises. All corridors right to use, on a non-exclusive basis, parking areas and restroom ancillary facilities located on each floor within the Common Areas of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant Park, subject to the terms of this Lease; provided, however, such license shall only be revocable (i) if Tenant is in default of its obligations under this Lease beyond applicable cure periods, or (ii) upon the expiration or earlier termination of this Lease. For purposes of this Lease, the term "Premises" shall mean and part refer to the entirety of both of the ProjectBuildings, namely, Building A and Building B situated within the Park. Landlord and Tenant hereby agree that for purposes of this Lease, as of the Lease Date, the rentable square footage area of the Premises, the Buildings, the Lot and the Park shall be deemed to be the extent constructed by Landlord. On or before number of rentable square feet as set forth in the date that is ninety Basic Lease Information on Page 1; provided, however, within fifteen (9015) days after the Delivery Datedate on which Landlord causes the Buildings to be Substantially Completed (as such term is defined in Exhibit B hereto), Landlord shall measure Tenant may have its architect verify the actual rentable square feet of contained within the Premises (i.e. the Buildings), provided that the basis of such measurement shall be measured from drip line to drip line and not in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposesstandards. Tenant hereby acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage may include a proportionate share of certain areas used in common by all occupants of the Premises Buildings (for example an electrical room or telephone room). Landlord and Tenant hereby acknowledge and agree that as depicted of the Lease Date the Buildings have not been constructed on the Building Plans, Tenant may deliver written results of its measurement to LandlordLot. At After Landlord has Substantially Completed (as such time as term is defined in Exhibit B hereto) the rentable square footage is agreed upon or otherwise resolvedShell Improvements, Landlord and Tenant shall execute an a written amendment to this Lease memorializing Lease, substantially in the form of Exhibit F hereto, wherein the parties shall specify the (i) actual approximate rentable square footage of each of the Premises and amending, as necessaryPremises, the Buildings and the Park, (ii) actual amount of Base Rent payable to be paid by Tenant, which shall be based upon the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the base rent per rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage foot as set forth in the Basic Lease Information, (iii) actual amount of Tenant's Share of the expenses set forth in the Basic Lease Information, which share shall be based upon such approximate rentable square footages, and (iv) the Premises Addresses. Within thirty (30) days following such agreement or resolutionTenant further agrees that the number of rentable square feet of the Buildings, Tenant shall pay the Lot and the Park may subsequently change after the Lease Date commensurate with any modifications to Landlordany of the foregoing by Landlord due to any casualty to, or Landlord shall pay to Tenantcondemnation of, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage portion of the Premises. Landlord , and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1's Share shall accordingly change.
Appears in 2 contracts
Samples: Lease Agreement (Cisco Systems Inc), Lease Agreement (Cisco Systems Inc)
Premises. Landlord leases (a) On the “Replacement Space Commencement Date” (as hereinafter defined), the definition and description of the Premises in the Lease shall be modified and amended (i) to delete the Original Premises, and (ii) to substitute for the Original Premises certain premises consisting of approximately 9,700 rentable square feet, constituting a portion of the sixth (6th) floor of the Building (the “Replacement Space”) which Replacement Space is shown shaded on the Sixth Floor Plan Rider attached hereto. As a result of the foregoing, the definition and description of the Premises in the Lease shall as of the Replacement Space Commencement Date, no longer refer to the Original Premises but shall refer to the Replacement Space described herein.
(b) Promptly following the date that the “Plans and Specifications” (as defined in the Landlord’s Work Rider attached hereto) are prepared by Landlord, Landlord’s architect shall measure the area of the Premises and furnish to Tenant and Tenant leases from Landlord upon its certification of the terms and conditions hereinafter set forth rentable square foot area of the Premises. All corridors Landlord’s architect shall measure the Premises from the outside face of exterior walls and restroom facilities located on each floor from the centerline of interior demising walls. The figure thus obtained shall be multiplied by 123.20% to arrive at the rentable square foot area of the Premises. If the rentable square foot area of the Premises is other than 9,700 square feet, the Annual Rent set forth in Section 3 hereof and Tenant’s Share shall be adjusted proportionately. The parties acknowledge that there are multiple methods of computing rentable area and hereby agree for the purposes of this Lease that the rentable area of the Premises shall be considered part of determined as set forth above.
(c) Landlord shall improve the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as Replacement Space in conformity with and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with Landlord’s Work Rider attached hereto (the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B“Landlord’s Work”), as interpreted by and shall have no other obligation to do any work in and to the Replacement Space or the Building to render them ready for Tenant’s occupancy. Subject to the Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery DateWork Rider, Tenant may, at has inspected the Replacement Space and agrees to take the Replacement Space in its election, cause the Premises to be measured by Tenant’s Architect (present “as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1is” condition.
Appears in 2 contracts
Samples: Lease Agreement (Valeritas Holdings Inc.), Lease Agreement (Valeritas Holdings Inc.)
Premises. Landlord Landlord, in consideration of the rents to be paid and the covenants and agreements to be performed by Tenant as hereinafter set forth, hereby leases to Tenant Tenant, and Tenant hereby leases from Landlord Landlord, the Premises for the exclusive use of the Tenant in the Building for the Lease Term and upon the terms conditions and conditions agreements hereinafter set forth below. Landlord and Tenant stipulate that the Premises. All corridors and restroom facilities located on each floor estimated rentable square footages of the Premises and the Building, respectively, are as set forth in the Summary of Basic Lease Terms. This Lease shall be considered part constitute a binding agreement between the parties effective as of the Effective Date. In addition to the use of Premises. The Premises , Tenant shall be part have use of all of the hallways, entryways, stairs, elevators, driveways, parking areas, walkways, common kitchens, conference rooms, restrooms and all other areas in the Building or on the Land that are provided from time to time by Landlord for the general nonexclusive use by Tenant and other tenants of the Building (the “Common Area”). Tenant will have the ability to be constructed use additional amenities, on a non-exclusive basis, including certain common kitchens, bathrooms, conference rooms, and other amenities provided by the Landlord to Tenant from time to time pursuant to the terms of this Lease and (the “Amenities”), which Amenities are a part of the ProjectCommon Area and situated in certain areas designated by Landlord (the “Amenities Area”). Provisions regarding the remodeling or construction of Landlord’s Work within the Premises are set forth in the Work Letter. Except as set forth in the Work Letter or otherwise in this Lease, Landlord has no obligation for the completion of any finish work or remodeling of the Premises, other than being delivered freshly painted and in broom clean condition. Other than as and to set forth herein, Tenant shall accept the extent constructed by Landlord. On or before Premises on the date that is ninety (90) days after the Delivery DateCommencement Date in their “as is” condition, and, except as expressly set forth in this Lease, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in deemed to have made any representations or warranties with respect to the calculation of the rentable square feet suitability of the Premises for purposes of the payment of Base Rent Tenant’s use, or the calculation of percentages or figures based on rentable square footage but otherwise, and shall be included in the term “Premises” for all have no other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) obligation for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage completion of the Premises. Until the rentable square footage By taking possession of the Premises is agreed upon or otherwise resolved hereunderPremises, Tenant’s monthly payments of Base Rent Tenant shall be calculated on deemed to have agreed that the basis same is in good order, repair, and condition. Notwithstanding the foregoing, Tenant may access the Premises prior to the Commencement Date for purposes of constructing and installing its improvements within the Laboratory Premises. Any such period of early occupancy shall be governed by all of the approximate rentable square footage terms and conditions of this Lease, except that Tenant shall have no obligation to pay rent except as set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.13.
Appears in 2 contracts
Samples: Lease Agreement (Recursion Pharmaceuticals, Inc.), Lease Agreement (Recursion Pharmaceuticals, Inc.)
Premises. Landlord (a) Subject to the provisions of this Lease, Port hereby leases to Tenant Tenant, and Tenant hereby leases from Landlord upon Port, the terms Premises in the Facility identified in the Basic Lease Information. The Premises has the address and conditions hereinafter set forth contains the Premisessquare footage specified in the Basic Lease Information. All corridors The location and restroom facilities located on each floor dimensions of the Premises shall be considered part are depicted on Exhibit A attached hereto and incorporated herein by reference. Port and Tenant agree and acknowledge that any statement of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of rentable or usable (if applicable) square footage set forth in this Lease is an approximation which Port and part of Tenant agree is reasonable and that the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable usable square feet footage of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not may be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of less than the rentable square footage of the area as depicted on the Building Plans (as defined in the Premises. Port and Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines further agree and acknowledge that the rentable square footage of the Premises as constructed varies from shall be used at all times to calculate the Base Rent due and payable by Tenant under this Lease and neither the Base Rent nor any other economic term based on rentable square footage of shall be subject to revision whether or not the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the actual rentable or usable square footage is agreed upon more or otherwise resolved, Landlord and less.
(b) Tenant shall execute an amendment have the non-exclusive right to this Lease memorializing use, together with other tenants, the rentable square footage Common Areas. All of the Premises and amendingCommon Areas shall at all times be subject to the exclusive control, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowanceregulation, and such other amounts management of Port. Port shall have the right to construct, maintain, and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon operate lighting facilities on all Common Areas; to patrol all Common Areas; to temporarily close any Common Areas for maintenance, repairs or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may alterations; from time to time remeasure to change the Premises and/or area, level, location and arrangement of Common Area facilities; to use the Building Common Areas and restrict access and use of the same during the maintenance, repair, construction or reconstruction of buildings, additions or improvements; to erect buildings, additions and improvements on the Common Areas from time to time; and to restrict parking by tenants, their Agents and Invitees. Port may operate and maintain the Common Areas and perform such other acts and make such other changes at any time and from time to time in accordance with generally accepted remeasurement standards selected by Landlord the size, shape, location, number and adjust Tenant’s Proportionate Share based on such remeasurementextent of the Common Areas or any of them as Port in its sole discretion shall determine; provided, however, that any such remeasurement based on a change in measurement standard only no exercise by Port of its rights hereunder shall not affect the amount of Base Rent payable for the Premises or any allowance applicable unreasonably restrict access to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Premises. Landlord leases to Tenant and Tenant leases from Landlord upon In consideration of the terms and conditions mutual covenants hereinafter set forth and other good and valuable consideration, the Premises. All corridors receipt and restroom facilities located on each floor sufficiency of the Premises shall be considered part of which are hereby acknowledged, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises. The Premises shall be part are subject to any and all liens, charges, encumbrances and matters of record (the “Permitted Exceptions”), any exclusive uses or prohibited uses set forth in any lease for space in the Project as of the Building Effective Date, including, without limitation to be constructed by Landlord pursuant to those certain exclusive uses and prohibitions set forth on Exhibit F attached hereto, and the terms and conditions set forth in this Lease. The Area of this Lease and part the Premises includes a proportionate share of the common areas of the Project. The Area of Building, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery DateArea of Warehouse, Landlord shall measure the rentable square feet Area of the Premises in accordance with the Total Premises, Area of Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, Area of Warehouse Premises are as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case but may be, in the Base Rent previously paid. Landlord may be adjusted from time to time remeasure by Landlord to reflect any changes as may be reasonably required or result from any updated surveys, plans or drawings or as otherwise set forth herein. Landlord or Tenant shall have the right to have a licensed architect measure the rentable area of the Premises and/or and the Building, or any portion thereof as applicable, to determine the rentable areas of the Premises based on the BOMA Standard (ANSI/BOMA Z65.1-1996, published by the Building Owners and Managers Association) (the “BOMA Standard”) and the party requesting the remeasurement shall deliver an architect’s certificate to the non-requesting party. The non-requesting party shall have fifteen (15) days to deliver comments or objections to the architect’s certificate. If the non-requesting party delivers comments or objections, Landlord and Tenant and their respective architects shall meet and confer in good faith to resolve any discrepancy in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on the BOMA Standard. Upon a change in measurement standard only shall not affect the amount final determination of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of feet, the Premises. Landlord parties will enter into an amendment to this Lease reflecting the adjustment and Tenant acknowledge that physical changes may occur from time to time all other amounts specified in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1this Lease shall be adjusted accordingly.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (McClatchy Co)
Premises. The parties acknowledge that, in connection with the Tax Abatement Process, Landlord leases will convey title to Tenant the Property (or a portion thereof) to the Development Authority and enter into the Prime Lease as the lessee thereunder. As a result and at such time, this Lease shall become and shall be reconstituted as a sublease between Landlord, as substandard, and Tenant, as subtenant. As set forth in the documents evidencing the Tax Abatement Process (the “Bond Documents”), upon the expiration or termination of the Prime Lease, it is the intent of the parties hereunder and under the Bond Documents that the Development Authority will re-convey the Property (or a portion thereof) to Landlord (or its successor under the Bond Documents), and this Lease will be reconstituted as a direct lease between Landlord (or its successor) and Tenant leases from Landlord upon the terms and conditions hereinafter set forth for the Premises. All corridors and restroom facilities located on each floor In the event the Development Authority retains title to the Property (or a portion thereof), it is the intent of the Premises shall be considered part parties hereto and under the Bond Documents that this Lease would thereupon become a direct lease between the Development Authority and the Tenant, subject to the rights of any lender holding a leasehold mortgage. Landlord hereby leases unto Tenant, and Tenant hereby leases from Landlord, the Premises, subject to the terms, covenants and conditions of this Lease. The Premises shall are or will be part located in the Building in the project commonly known as New Manchester Distribution Center (all of the Building to be constructed land and existing and future buildings in the distribution center owned by Landlord pursuant to [or its affiliates] being the terms of this Lease and part of the Project“Property”), as and to the extent constructed by Landlordwhich is located in Xxxxxxx County, Georgia. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the The rentable square feet of the Phase Two Premises shall be certified to Landlord and Tenant by Landlord’s Architect (as hereinafter defined) and the Rent (as hereinafter defined) and other affected provisions of this Lease shall be adjusted accordingly. All exhibits attached to this Lease are incorporated herein by reference. This Lease shall create the relationship of landlord and tenant between Landlord and Tenant; no estate shall pass out of Landlord; Tenant has only a usufruct, not subject to levy and sale and not assignable by Tenant except as otherwise provided in this Lease. In addition to the interest in the Premises demised to Tenant under this Lease, Landlord hereby grants Tenant a nonexclusive right for so long as this Lease is in full force and effect to use the Common Areas, (as hereinafter defined) of the Property in common with others entitled to use the Common Areas, including Landlord and other tenants of the Property and their respective employees, licensees and invitees and other persons authorized by Landlord to perform services at the Property, subject to the terms and conditions of this Lease, including any and all rules and regulations promulgated by Landlord in accordance with the Office Buildings: Methods terms of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), this Lease. The Common Areas are initially as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based designated on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Exhibit A-2 Landlord may from time to time remeasure change the Premises and/or size, use, shape, configuration or nature of any portion of the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Common Areas, so long as such change does not adversely affect Tenant’s Proportionate Share based on such remeasurement; providedaccess, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises substantial benefit or any allowance applicable to the initial Term based on the rentable square footage enjoyment of the Premises. Neither Landlord and Tenant acknowledge that nor Landlord’s agents have made any representations, warranties or promises with respect to the Property, the Common Areas, the physical changes may occur from time condition of the Building, the land upon which it is erected, or the Premises, or any matter or thing affecting or related to time in the Premises except as expressly set forth in this Lease. Landlord represents that it has marketable and insurable title to the Building and the land on which the Building lies and that, other than as set forth in Chicago Title Insurance Company Owner’s Policy No. 72106-386555 having an effective date of July 29, 2002, and Chicago Title Insurance Company Loan Policy No. 72107-723204 having an effective date of July 29, 2002, to the best of its knowledge, there are no liens, encumbrances, easements, restrictions, covenants, zoning laws or Building, regulations affecting the Building or Property which may result in an adjustment in adversely affect this Lease or Tenant’s Proportionate Share, as provided in Paragraph 7.1rights hereunder or the foreclosure of which or other exercise of rights would terminate this Lease or otherwise adversely affect Tenant’s rights hereunder.
Appears in 2 contracts
Samples: Standard Industrial Lease Agreement, Standard Industrial Lease (Wells Real Estate Investment Trust Ii Inc)
Premises. Landlord hereby leases the Premises to Tenant Tenant, and Tenant leases the Premises from Landlord Landlord, upon the terms and conditions hereinafter of this Lease. Tenant agrees that the rentable floor areas of the Premises, the Buildings, and the Property set forth the Premisesin Basic Lease Information are approximations that are reasonable and shall not be subject to revision except as expressly provided in this Section 1. All corridors and restroom facilities located on each floor Accordingly, for all purposes related to this Lease, the rentable area of the Premises and the Buildings as of the Lease Date shall be considered part of the Premises. The Premises shall be part of the Building conclusively deemed to be constructed by Landlord pursuant to the terms number of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included for such spaces set forth in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposesBasic Lease Information. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises may include a proportionate share of certain areas used in common by all tenants of the Buildings, such as constructed varies from an electrical room or telephone room. If after the Lease Date Landlord conveys its interest in a part, but less than all of, the Property, the term “Property” shall be adjusted to refer only to the part of the Property that Landlord continues to own after such conveyance. If either Building is modified after the Lease Date in a manner that actually changes its rentable area, or if Landlord conveys a part of the Property and the term “Property” is redefined under the previous sentence, Tenant’s Share shall be adjusted to be the quotient of the rentable square footage area of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected divided by the rentable square footage area of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunderProperty, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, expressed as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1percentage.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (WuXi PharmaTech (Cayman) Inc.)
Premises. Section 2.1. Landlord hereby leases to Tenant Tenant, and Tenant hereby leases from Landlord upon Landlord, the terms Leased Premises located at 000 Xxxx Xxx Xxxx Xxxx, Xxxxxxx, Texas as shown and conditions hereinafter set forth the Premises. All corridors on Exhibit “A”, which is annexed hereto and restroom facilities located on each floor of the Premises shall be considered incorporated by reference herein and made part of the Premises. The Premises shall be part of the Building hereof for all purposes, such building to be constructed by Landlord pursuant to the terms of this Lease and part or being constructed on a portion of the Project, as tract of property described in Exhibit “A-l” (and any additional land from time to the extent constructed time designated by Landlord), which tract of property (and any additional land from time to time designated by Landlord) and any existing and future buildings, parking area, sidewalks, service area and other improvements now existing or hereafter erected thereon are sometimes herein referred to as the “Center”. On The Center parking arrangement and number of spaces, positioning of Center on subject property, location and number of driveways, and location of Tenant in the Center are subject to change without notice. Landlord reserves the right to place in, under, over or before through the date that Leased Premises pipes, wires, lines and facilities serving other areas of the Center provided such right is ninety (90) days after exercised in a manner which does not unreasonably interfere with Tenant’s conduct of its business at the Delivery DateLeased Premises.
Section 2.2. In determining the floor area of the Leased Premises, distances shall be measured from the exterior face of all exterior walls and the center of all partition walls which separate the Leased Premises from any interior area. Walls separating the Leased Premises from a mall and corridor walls shall be deemed to be exterior walls of the Leased Premises.
Section 2.3. Landlord shall reserves the right to re-measure the rentable square feet Leased Premises to determine the gross leasable area of the Leased Premises. In the event the re-measurement discloses that the actual gross leasable area of the Leased Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included set forth in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage Article I Section 4 is agreed upon or otherwise resolvedincorrect, Landlord and Tenant shall execute an amendment to this the Lease memorializing (i) reflecting the rentable actual gross leasable area of the Leased Premises, (ii) adjusting the Minimum Rent and Additional Charges based on the new square footage and (iii) adjusting the Extension Term(s) Rent and all other charges accruing under the Lease which are based on the actual gross leasable area of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Leased Premises. Until In the rentable square footage event of the Premises is agreed upon or otherwise resolved hereunderan adjustment, Tenant’s monthly payments of Base Tenant will pay any excess Minimum Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty and Additional Charges owed to Landlord within fifteen (3015) days following such agreement after receipt of a statement, or resolutionTenant shall take a credit for any overpayment against the next Minimum Rent and Additional Charges payments due.
Section 2.4. In addition, Tenant shall pay have the exclusive right to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord use and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, occupy that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage portion of the Premises. Landlord Center specified in Exhibit C, attached hereto and Tenant acknowledge that physical changes may occur from time incorporated herein by reference, hereinafter referred to time as “Additional Area”, and accepts same in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1.its
Appears in 1 contract
Premises. Landlord leases to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s 's architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “"Premises” " for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s 's Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s 's cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plansmeasured by Landlord, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Letter of Credit, the amount of the Tenant Improvement Allowance, Allowance and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s 's monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s 's Proportionate Share, as provided in Paragraph 7.1.
Appears in 1 contract
Samples: Lease (Guidewire Software, Inc.)
Premises. In consideration of the obligation of Tenant to pay rent as herein provided, and in consideration of the other terms, provisions and covenants hereof, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord, certain premises to be comprised of approximately 61,380 rentable square feet (the “Premises”) in a building to be constructed by Landlord upon (the terms “Building”) and conditions hereinafter set forth situated on certain land (the “Land”) in Morrisville, 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. All corridors A floor plan of the Building and restroom facilities located on each floor the Premises shall be attached hereto and made a part hereof as Exhibit B. The measurement of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises conducted in accordance with BOMA standards, 1996 edition, currently applicable for a Class A office building comparable to the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted Building. Any upfit performed by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of Landlord to prepare the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but occupancy by Tenant shall be included conducted in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, a good and workmanlike manner and in accordance with all laws, statutes, and regulations, and Landlord shall warrant the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage construction of the Premises as constructed varies improvements for a period of one year from the rentable square footage Commencement Date. The taking of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and possession by Tenant shall execute an amendment be deemed conclusively to this Lease memorializing the rentable square footage establish that each portion of the Premises and amending, any improvements thereto are in good and satisfactory condition as necessary, the amount of Base Rent payable by Tenant, the amount of the date Tenant Improvement Allowance, and such other amounts and other terms hereof commenced occupancy of that are affected by the rentable square footage portion of the Premises, except for latent defects and punchlist items. Until Tenant and Landlord shall complete a punchlist of items requiring repair that are the rentable square footage responsibility of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within Landlord within thirty (30) days following of the Commencement Date. Tenant further acknowledges that no representations as to the repair of the Premises, nor promises to alter, remodel or improve the Premises have been made by Landlord unless such agreement representations or resolutionpromises 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. All construction of the Premises shall be performed by Landlord in accordance with the schedule, plans and specifications for the Premises (herein referred to collectively as the “Plans”) which Plans are subject to the mutual and reasonable approval of Landlord and Tenant, a preliminary copy of which is attached hereto and made a part hereof as Exhibit C. Construction of the Premises shall proceed in accordance with the Building Design and Construction Schedule attached hereto and made a part hereof as Exhibit C-1. The components of the Shell Building shall be as set forth in Exhibit C-2, attached hereto and made a part hereof. The components of the Building Upfit shall be as set forth in Exhibit C-3, attached hereto and made a part hereof. Tenant shall review the Plans to provide its input with respect to all aspects of the Plans, including, but not limited to, the specific needs of Tenant with respect to Heating, Ventilation and Air Conditioning and other Building systems, and Landlord shall act reasonably to accommodate the specific needs of Tenant with respect to the Building systems. Notwithstanding the above, Landlord and Tenant agree that a formal construction schedule and final Construction Drawings and Specifications, upon the completion of such documents by Landlord, Landlord’s architectural and engineering service providers, and other such parties and further subject to the mutual and reasonable approval of such documents by Landlord and Tenant, will replace the contents of Exhibit C for purposes of controlling the actual construction of the Premises; and such formal construction schedule and final Construction Drawings and Specifications shall replace Exhibit C by means of a lease amendment between Landlord and Tenant. The base rent delineated in Paragraph 2(a) includes the costs of the Shell Building, currently estimated to be Ninety-Four and 35/100 Dollars ($94.35) per rentable square foot of the Premises (the “Shell Allowance”). Should the actual costs of the Shell Building (together with the reduced or increased financing costs and commissions of the Landlord) be different than the Shell Allowance, the base rent due hereunder shall be increased or decreased accordingly by multiplying the difference between the actual cost thereof and the Shell Allowance by a factor of Ten and 85/100 Percent (10.85%), as reasonably determined by Landlord. The base rent delineated in Paragraph 2(a) also includes a contribution by the Landlord of Ninety-Two and 14/100 Dollars ($92.14) per rentable square foot of the Premises to be applied to the Building upfit, as set forth in Exhibit C-2 (the “Upfit Allowance”). Further, Landlord has agreed to permit Tenant to increase the Upfit Allowance by up to an additional Twelve and 86/100 Dollars ($12.86) per Rentable Square Foot of the Premises to satisfy Tenant’s interior finish requirements, as reasonably approved by Landlord (the Additional Upfit Allowance”). At the option of Tenant, any portion or all of the Additional Upfit Allowance used by Tenant to complete the upfit shall be amortized over the term of the Lease with interest at the rate of eleven percent (11%) per annum and repaid by Tenant in equal monthly installments together with its payment of base rent hereunder. Should for any reason the upfit costs for the Premises be greater than a total of One Hundred Five and NO/100 Dollars ($105.00) per rentable square foot (the “Maximum Upfit Allowance”), such excess (the “Excess”) shall be borne by Tenant and payable by Tenant to Landlord within thirty (30) days of demand by Landlord to Tenant. Failure by Tenant to pay the Excess upon demand as aforesaid is an event of default hereunder and, in addition to all other remedies available to Landlord at law, or in equity for such event of default, Landlord may recover from Tenant the cost it incurs in preparing the Premises for another tenant. Should the upfit costs for the Premises be less than the Upfit Allowance, Tenant shall pay be allowed to upgrade the improvements to the Premises, as reasonably approved by Landlord, to fully utilize the entire Upfit Allowance; or Tenant may elect to have Landlord shall pay apply the unused Upfit Allowance (together with the reduced financing costs and commissions of Landlord), multiplied by the amortization constant for eleven percent (11%) per annum to reduce the base rent due hereunder, proportionately over the entire Lease Term, all as reasonably determined by Landlord and Tenant, the amount of any deficiency or excess, as the case may be. Additionally, in the Base Rent previously paidevent that Tenant shall not utilize all the Upfit Allowance or all or any part of the Additional Upfit Allowance, Tenant shall have the right to apply such unused monies towards the costs of upfitting the Premises subsequent to completion of the initial improvements (“Deferred Allowance”) up to the Maximum Upfit Allowance, subject to mutual and reasonable approval of plans and specifications for such improvements by Landlord and Tenant. Tenant’s right to the Deferred Allowance shall expire at the end of the second year of the term of the Lease and Landlord shall have no further obligation to provide any improvement allowances of any kind during the term of the Lease unless stated otherwise in this Lease. Any Deferred Allowance used by Tenant shall be amortized over the term of the Lease remaining at the time of completion of such improvements, with interest at the rate of eleven percent (11%) per annum (the “Amortization Constant”), and repaid by Tenant in equal monthly installments together with its payment of base rent hereunder. Landlord may from time shall act reasonably to time remeasure allow Tenant reasonable access to the Premises and/or at least thirty days prior to the Commencement Date to install its furniture, telephone and computer systems, and other special Building systems. Tenant covenants and agrees to conduct its actions in such a manner to not disturb the preparation by Landlord of the Premises for occupancy by Tenant. Upon the entry by Tenant onto the Premises, this Lease shall be deemed to apply with respect to the requirements that Tenant carry the insurance policies required under this Lease, and that Tenant shall indemnify, defend and hold harmless Landlord in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount provisions of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Sharethis Lease, as provided in Paragraph 7.1Sections 10 and 11 hereof.
Appears in 1 contract
Samples: Lease Agreement (Trimeris Inc)
Premises. Landlord leases to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter (a) Except as otherwise set forth herein, after the Closing Date, Purchaser shall have the right to operate the operations at the Leased Premises and the Loan Fulfillment Center as it deems appropriate in its sole discretion. Notwithstanding the foregoing, Purchaser shall not unreasonably cease operations at a Leased Premises. All corridors and restroom facilities located on each floor of , except under the Premises shall be considered part of the Premisescircumstances described in Section 7.5(c). The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date Parties acknowledge that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area it shall not be included deemed unreasonable for Purchaser to cease operations at a Leased Premises in the calculation event that the profitability or anticipated profitability of the rentable square feet operations related to the Leased Premises are not satisfactory to Purchaser.
(b) During the portion of the Production Period after the Closing Date, Purchaser shall provide pricing and product programs for Mortgage Loans to the wholesale operations at the Leased Premises similar to the pricing and product programs for purposes Mortgage Loans that Purchaser provides to its other wholesale operation offices. If a Leased Premises is located within thirty (30) miles of another office of Purchaser’s wholesale division, then the wholesale operations located at such Leased Premises shall have access to equivalent pricing and loan programs for Mortgage Loans to which the other office of Purchaser’s wholesale division has.
(c) With respect to any of the payment Non-Terminable Leased Premises, if during the eighteen (18) month period following the Closing Date, (i) more than half of Base Rent or the calculation employees that were working at a Non-Terminable Leased Premises as of percentages or figures based on rentable square footage but the Closing Date cease working for Purchaser at such Non-Terminable Leased Premises and (ii) Purchaser ceases conducting wholesale mortgage operations at such Non-Terminable Leased Premises, then Seller shall be included obligated to pay any and all costs and expenses incurred by Purchaser in subleasing such Non-Terminable Leased Premises (including the difference between rental payments received by Purchaser and retail payments payable by Purchaser) or terminating the Lease for such Non-Terminable Leased Premises. Purchaser may setoff or deduct any such amounts from any Production Payments payable after Purchaser ceases wholesale mortgage operations in such Non-Terminable Leased Premises.
(d) With respect to the Lease for the Leased Premise located at 00000 Xxxxxx Xxxxxxx, Xxxxxxx, Xxxxx, in the term “Premises” event Purchaser terminates such Lease, Seller shall reimburse Purchaser for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation fifty percent (50%) of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts termination fees and other terms hereof that are affected termination-related fees paid or incurred by Purchaser in connection with the rentable square footage termination of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1Lease.
Appears in 1 contract
Samples: Asset Purchase Agreement (United Financial Mortgage Corp)
Premises. Landlord 1.1 District leases to Tenant and Tenant leases the Premises from Landlord for the term and upon the terms conditions and conditions hereinafter covenants set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this ParagraphLease. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment District hereby stipulate to this Lease memorializing the rentable square footage of the Premises and amendingthe Building as set forth in Section I on DC DRES Form L-102TIA.
1.2 Landlord hereby grants to District and its agents, employees, and invitees the nonexclusive right with others designated by Landlord to the use of the Common Areas in the Building for ingress to and egress from the Premises, in accordance with the terms of this Lease. Landlord may make such changes to the Common Areas as necessarydo not unreasonably interfere with or unreasonably diminish the District’s access to the Premises or the District’s use thereof.
1.3 Landlord hereby represents and warrants that as of the date of this Lease, the amount of Building is in compliance with Laws, subject to any “grandfathering” provisions. Landlord shall be responsible for compliance with all applicable Laws (subject to any “grandfathering” provisions) as they pertain to the Common Areas, Base Rent payable by TenantBuilding Conditions, or Building Structures and Systems provided any non-compliance is not directly attributable to the amount use or occupancy of the Tenant Improvement AllowanceBuilding or the Premises (including alterations to the Premises) by District throughout the Lease Term. District shall be responsible for changes or additions to the Premises required to comply with applicable Laws necessitated directly by reason of District’s use or occupancy of or alterations to the Premises during the Lease Term. All such future changes, additions, and such other amounts work to the Common Areas, Base Building Conditions, or Building Structures and other terms hereof that are affected by Systems, to the rentable square footage extent commercially reasonable, shall be performed after Building Hours and on weekends, unless their installation does not interfere with the District’s use and enjoyment of the Premises. Until .
1.4 Subject to the rentable square footage terms and conditions of the Premises is agreed upon or otherwise resolved hereunderLease, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure deliver the Premises and/or to the Building District and the District shall accept the Premises in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; providedits “as- is” condition. Provided, however, that any such remeasurement based on a change in measurement standard only if the Parties have agreed upon Tenant Improvements, Landlord shall not affect the amount of Base Rent payable for provide the Premises or any allowance applicable to the initial Term based on District in accordance with the rentable square footage of the Premises. Landlord terms and Tenant acknowledge that physical changes may occur from time to time conditions specified in a work agreement substantially in the Premises or Building, form of DC DRES Form A-103 and which may result agreement will attach a statement of lessor’s unit costs in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1the form of DC DRES Form A-104.
Appears in 1 contract
Samples: In Lease Agreement
Premises. Landlord leases A. The City expects to Tenant and Tenant leases from Landlord upon let a contract for the terms and conditions hereinafter set forth construction of the PremisesParking Garage on or about February 4, 2009. All corridors and restroom facilities located on each It is agreed that the ground floor of the Premises Parking Garage, containing approximately 193,020± square feet (approximately 700± parking spaces), shall be considered allocated to the RACs for Ready/Return. The second and third floors of the Parking Garage are allocated and specifically reserved for public parking or such other uses as the City, in its sole discretion, deems necessary.
B. Beginning on the Garage Completion Date and during the term of this Agreement, the City shall lease to Operator an area in the Parking Garage for its Ready/Return (hereinafter referred to “Premises”). The specific Premises leased to Operator shall be determined in accordance with Article IV.C of the Concession Agreement. The Premises leased for the period commencing on the Garage Completion Date until the annual reallocation of Ready/Return for the RACs will be specifically depicted in an “Exhibit 1,” which shall be signed by Operator and appended to and made a part of this Agreement. Annually thereafter or at such interval identified in the Concession Agreement, the City will reallocate Operator’s Premises in the manner described for Ready/Return reallocation set forth in the Concession Agreement. A new Exhibit, which shall be sequentially numbered, shall be prepared, as may be necessary, to reflect Operator’s Premises for the applicable period. All such Exhibits shall be signed by Operator and appended to this Agreement without necessity of a formal written amendment to this Agreement. The City shall not reimburse Operator for any expenses incurred during any Ready/Return relocation or reallocation under this Subsection, except as provided for in Article VI (C) below. Notwithstanding any other provision of this Agreement, the City may adjust the boundaries of the Premises, as may be required by the City for security reasons, to comply with any federal and/or TSA law, regulation, directive or requirement and/or for federal or TSA required construction by adding to or deleting space from the Premises. The Premises City shall notify Operator not less than sixty (60) days in advance of such adjustment, provided no notice shall be part required during any real or threatened emergency and/or security threat, and Operator shall remove all personal property and fixtures located on the area being deleted no later than the date such adjustment is to occur. City agrees to reimburse Operator for the expense incurred as a result of the Building boundary adjustment from the CFC, subject to be constructed availability of funds not designated for Debt Financing Costs, O&M Services and other committed obligations. In the event that the boundaries are adjusted by Landlord pursuant deleting in excess of ten percent (10%) of the total amount of square footage allocated to the terms of this Lease and part RACs for their use on the ground floor of the ProjectParking Garage (approximately 193,020+/- square feet) , as and to the extent constructed by Landlord. On or before total allocation of space among the date RACs will be adjusted so that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet impact of the Premises loss of space is distributed among the RACs in accordance with the Office Buildings: Methods prescribed methodology for allocation of Measurement and Calculating Rentable Area spaces identified in the Concession Agreement. For any deletion involving greater than ten percent (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.710%) of the total amount of square footage allocated to the RACs for their use on the ground floor of the Parking Garage, the Roof Top Area shall not be included City will use its best efforts to provide replacement ready return spaces on-Airport in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area a location as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable close to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, Terminal Building as provided in Paragraph 7.1reasonably possible.
Appears in 1 contract
Samples: Non Exclusive Rental Car Concession and Lease Agreement
Premises. Landlord leases to Tenant All of the first and Tenant leases from Landlord upon second floors of the terms and conditions hereinafter set forth west wing -------- of the Premises. All corridors and restroom facilities located on each floor of Building provided that the Premises shall be considered part not include until occupied by Tenant any of the Premises. The Premises shall be part such space in excess of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the approximately * total rentable square feet of office space (the Premises "Office Space") and approximately * total rentable square feet of assembly space (the "Assembly Space") as generally shown in Exhibit A-1 * - REDACTED TEXT - CONFIDENTIAL TREATMENT REQUESTED; OMITTED PORTIONS HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. and A-2 attached to this Lease and as improved in accordance with the provisions of Exhibit B attached to this Lease. The Office Buildings: Methods Space shall be generally located on the first and second floors and the Assembly Space shall be located on the first floor. Upon completion of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation construction of the rentable square feet Building, Landlord shall cause the usable area of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another Landlord's licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with or engineer using the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage current version of the Premises as constructed varies from the rentable square footage of the Premises as depicted on Standard Method for Measuring Floor Area in Office Buildings published by the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as Owners and Managers Association International (the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement"BOMA Standards"); provided, however, that any such remeasurement based on a change in measurement standard only the rentable area of the Premises shall be calculated by multiplying the usable area of the Premises by 1.12 and the BOMA Standards shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on be used in calculating the rentable square footage area of the Premises. Landlord The Annual Base Rent set forth in Section 1.11 and the Monthly Base Rent set forth in Section 1.12 hereof shall be adjusted to reflect the rentable area of the Premises as so calculated. Tenant acknowledge that physical changes may occur from time shall have the right to time have such measurement verified by Tenant's independent licensed architect or engineer. The additional space for the Premises in excess of the initial Office Space and the initial Assembly Space shall be included in the Premises on the date Tenant begins use of all or Buildinga portion of such space and Rent and other charges shall commence to be payable for such space as of the date of such first use by Tenant at the rate per rentable square foot set forth below for additional Office Space. The Assembly Space at the below stated rent for the Assembly Space shall be limited to * rentable square feet at such rent. However, which Tenant may result take additional Assembly Space in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1excess of * rentable square feet at the below stated rent for Office Space.
Appears in 1 contract
Samples: Office Lease (Stereotaxis, Inc.)
Premises. 2.1 Landlord leases does hereby lease to Tenant and Tenant hereby leases from Landlord upon that certain real property (herein called "Premises") indicated on EXHIBIT A attached hereto and by reference thereto made a part hereof. Said Premises are commonly known as 0000 Xxxx Xxxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxx and have been improved with a building of approximately 33,000 square feet (the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises"Building"). The Premises shall be part are more particularly described in EXHIBIT A hereto. Any statement of size set forth in this Lease or that may have been used in calculating rental is an approximation which Tenant and Landlord agree is reasonable. Notwithstanding the foregoing, the Tenant or Landlord may elect, at its sole cost, to cause the square footage of the Building to be constructed measured by Landlord pursuant a California licensed architect according to the terms following criteria: (i) the square footage of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord each above ground floor shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in measurements from the term “Premises” for exterior of all other purposes. Tenant acknowledges that it has had an opportunity to verify exterior walls; and (ii) the calculation of the rentable square footage of the basement area as depicted shall be based on measurements from the Building Plans (as defined in the Tenant Improvement Agreement ) for the Buildinginterior of all basement exterior walls. Within one hundred twenty (120) days after the Delivery DateWhen completed, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord deliver its measurements and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable calculations to the initial Term based on other and, if within ten (10) business days of delivery, the rentable other party does not object in writing to the calculated square footage of the PremisesBuilding, such square footage shall be used to recalculate Monthly Rent as provided at Paragraph 5 below. If the other party disagrees in writing with the calculated square footage within such ten (10) business-day period, then it may conduct its own calculation thereof in accordance with this paragraph which shall be completed as soon as reasonably possible. If after the time periods provided in this paragraph have elapsed and Landlord and Tenant acknowledge are still in disagreement as to the appropriate square footage after the second calculation, the matter shall be submitted to a California licensed architect selected by the other two architects and such architect shall determine which of the two previously made calculations of square footage shall be used. Such architect's determination shall be binding on Landlord and Tenant. Notwithstanding anything herein to the contrary, the recalculation of the square footage of the Building must be commenced by the delivery no later than August 15, 1998 of the initial recalculation by one party to the other. Failure to do so shall be deemed both parties' agreement that physical changes may occur from time the Building contains 33,000 square feet for all purposes under this Lease.
2.2 This Lease is subject to time the terms, covenants and conditions herein set forth and Tenant and Landlord each covenant to the other as a material part of the consideration for this Lease to keep and perform each and all of said terms, covenants and conditions to be kept and performed by Tenant or Landlord, as applicable, and that this Lease is made upon the condition of said performance.
2.3 Landlord shall deliver the Premises to Tenant broom clean and free of debris and in good operating order, condition and repair on the Commencement Date (as defined below) and warrants that the existing electrical, plumbing, fire sprinkler, lighting, heating, ventilating and air condition systems ("HVAC"), loading doors, if any, and all other such elements in the Premises, other than those constructed by Tenant shall be in good, operating condition on the Commencement Date and that the structural elements of the roof, bearing walls and foundation of the Building shall be free of material defects.
2.4 Landlord warrants that the improvements on the Premises materially comply with all applicable laws, covenants or restrictions of record, building codes, regulations and ordinances ("Applicable Requirements") in effect on the Commencement Date. This warranty does not apply to the use to which Tenant will put the Premises or Building, which may result in an adjustment in to any alterations or modifications made or to be made to the Premises by Tenant’s Proportionate Share, as provided in Paragraph 7.1.
Appears in 1 contract
Samples: Building Lease (Vdi Media)
Premises. In consideration of the obligation of Tenant to pay rent as herein provided, and in consideration of the other terms, provisions and covenants hereof, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord upon the terms Premises for the Permitted Use. The Premises are comprised of the Net Rentable Area in the Building situated on the Land in the County of Durham, City of Durham, State of North Carolina, more particularly described on Exhibit A, attached hereto and conditions hereinafter set forth incorporated herein by reference, together with all rights, privileges, easements, appurtenances and immunities belonging to or in any way pertaining to the Premises. All corridors Except as provided herein (and restroom facilities located on each floor subject to latent defects not readily apparent through visual inspection and identified “punchlist” items, which Landlord shall repair within a reasonable amount of time), Tenant shall lease the Premises “as is” with no representations or warranties made by Landlord as to the condition of the Premises To the best of its knowledge, Landlord represents and warrants that as of this date, the Premises are in material compliance with all Applicable Laws, and are in good condition and repair subject to reasonable wear and tear. In addition, Landlord shall use all reasonable efforts to insure that as of the Commencement Date (modified as provided herein), the Premises will be considered in material compliance with all Applicable Laws and are in good condition and repair. To the best of Landlord’s knowledge, Applicable Laws and any recorded restrictive covenants permit the Premises to be used for the Permitted Use. The Building is part of the Premises. The Premises shall be part Project and consists of the Building to be constructed by Landlord pursuant to the terms a total of this Lease Eighty-Five Thousand Six Hundred and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety Twenty-Two (9085,622) days after the Delivery Date, Landlord shall measure the rentable square feet with the Building being comprised of Fifty One Thousand Six Hundred Sixty-Seven (51,667) rentable square feet. Landlord hereby represents and warrants to Tenant that the foregoing representations regarding rentable square feet are consistent with the definition of rentable area calculated pursuant to Building Owners and Managers Association Standards. A floor plan of the Premises in accordance with is attached hereto and made a part hereof as Exhibit B. As an appurtenance to the Office Buildings: Methods of Measurement Premises, Tenant, its employees and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, invitees will have the Roof Top Area shall not be included in nonexclusive right to use the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for Common Areas at the Building. Within one hundred twenty (120) five business days after of the Delivery Commencement Date, Tenant maywill, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to upon demand of Landlord, at Tenant’s cost, in accordance with the method execute and deliver to Landlord a letter of measurement described in this Paragraph. If Tenant determines that the rentable square footage acceptance of delivery of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans(subject to latent defects not readily apparent through visual inspection and identified “punchlist” items, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, which Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the repair within a reasonable amount of Base Rent payable by Tenanttime), acknowledging the amount Commencement and Termination Dates of this Lease. Except for any items the cost of which is paid out of the Tenant Improvement Allowance, Landlord shall perform, at its sole cost and such other amounts and other terms hereof that are affected by the rentable square footage expense, all work detailed on Exhibit C hereto. The upfit of the Premises. Until the rentable square footage of , will be performed by Landlord in accordance with the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth Specifications in the Basic Lease Information. Within thirty (30) days following such agreement or resolutionWork Letter, Tenant shall pay if applicable attached hereto and made a part hereof Exhibit D. Subject to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, reasonable rules and regulations as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure prescribe and subject to rights of ingress and egress of other tenants of the Premises and/or Project, Tenant and its invitees will have the Building in accordance with generally accepted remeasurement standards selected by right to the non-exclusive usage of twenty (20) parking spaces. Landlord and adjust will not be responsible for enforcing Tenant’s Proportionate Share based on such remeasurement; providedparking rights against any third parties. Tenant is granted a non-exclusive right to use, howeverin common with the other tenants and users of the Project, all of the Common Areas. Landlord shall have exclusive control and management responsibility of the Common Areas. Landlord may, from time to time, alter the Common Areas, install kiosks, planters, fountains, sculptures, signs, and other structures within the Common Areas provided however that any such remeasurement based on a change in measurement standard only alterations shall not affect the amount materially and adversely interfere with Tenant’s use or enjoyment of Base Rent payable for the Premises or any allowance applicable decrease Tenant’s parking spaces. Landlord shall have the right to establish, modify, and enforce reasonable rules and regulations with respect to the initial Term based on Common Areas and to grant to individual tenants the rentable square footage right to conduct retail sales within the Common Areas. Landlord makes no representation or warranty concerning the size of the Common Areas and may, in the future, reduce the size of the Common Areas in its reasonable discretion, provided however that such reduction shall not materially and adversely interfere with Tenant’s use or enjoyment of the Premises. Landlord , and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may shall result in an adjustment a commensurate reduction in Tenant’s Proportionate Share. Landlord hereby grants to Tenant a continuing right of first refusal to lease vacant and available space in the Building (the “Additional Space”) under the terms and conditions as provided below:
(i) Subordinate to other tenants at the Project with pre-existing First Right of Refusal, and so long as there is no event of default by Tenant hereunder beyond any applicable grace and/or cure period, Landlord will notify Tenant when it has all or a portion of the Additional Space for lease to a third party (the “Third Party”) and the terms and conditions upon which it is willing to lease such space (“Landlord’s Notice”).
(ii) Tenant shall provide written notice to Landlord, as to Tenant’s decision to lease or not to lease the Additional Space within five (5) business days after Landlord’s Notice is received. If Tenant does provide to Landlord notice to lease the Additional Space, Landlord and Tenant will execute a lease amendment adding the Additional Space to the Premises within twenty (20) days after Landlord’s receipt of Tenant’s notice of intent to lease on all the same terms provided to the Third Party. If Tenant does not provide written notice to Landlord within five (5) business days after receipt of the Landlord’s Notice, Tenant will have been deemed to have waived its right to lease the Additional Space and Landlord shall be free to enter into a lease with the Third Party. Should all or any portion of the Additional Space become vacant thereafter, Tenant shall again have the right of first refusal provided herein.
(iii) The rights provided to Tenant in Paragraph 7.1this Section are personal to the Tenant and may not be assigned in connection with an assignment of this Lease, subletting of the Premises or otherwise, except for any Permitted Transferee (as hereinafter defined).
Appears in 1 contract
Premises. Landlord hereby leases to Tenant Tenant, and Tenant hereby leases from Landlord Landlord, upon the terms and subject to the conditions hereinafter set forth of this Lease, the office space identified in the Basic Lease Information as the Premises (the “Premises”), in the Office Building located at the address specified in the Basic Lease Information (the “Building”). All corridors The approximate configuration and restroom facilities located on each floor location of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by is shown on Exhibit A. Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines agree that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage area of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent Building for all purposes under this Lease shall be calculated on the basis of the approximate rentable square footage set forth Rentable Areas specified in the Basic Lease Information. Within thirty The Building, together with the parking areas dedicated to the Building and the parcel(s) of land on which the Building and such parking areas are situated are collectively called the “Property”. The surface parking areas serving the Property are referred to as the “Parking Facility”. Landlord agrees that the base Building Systems (30as such term is defined in Section 5.1 below) shall be in working order as of the date Landlord delivers possession of the Premises to Tenant. Except to the extent caused by the acts or omissions of Tenant, Tenant Representatives and/or Visitors or by any alterations or improvements performed by or on behalf of Tenant, if such systems are not in working order as of the date Landlord delivers possession of the Premises to Tenant and Tenant provides Landlord with notice of the same within forty-five (45) days following such agreement or resolution, Tenant shall pay to Landlord, or the date Landlord shall pay delivers possession of the Premises to Tenant, Landlord shall be responsible for repairing or restoring the amount of any deficiency or excesssame, at Landlord’s sole cost and expense. Pursuant to Civil Code section 1938, Landlord states that, as of the case may bedate of this Lease, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected has not undergone inspection by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for “Certified Access Specialist” to determine whether the Premises or any allowance meet all applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1construction-related accessibility standards under California Civil Code section 55.53.
Appears in 1 contract
Samples: Lease Agreement (Inpixon)
Premises. Effective as of the Commencement Date, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, upon the terms and subject to the conditions of this Lease, the office space identified in the Basic Lease Information as the Initial Ground Floor Premises and the Initial Third Floor Premises (together, the “Initial Premises”), in the Office Building located at the address specified in the Basic Lease Information (the “Building”). Effective as of the Additional Premises Commencement Date, Landlord shall also lease to Tenant and Tenant leases shall also lease from Landlord upon the terms office space identified in the Basic Lease Information as the “Additional Premises”. The approximate configuration and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor location of the Initial Ground Floor Premises is shown on Exhibit A-1, and the approximate configuration and location of the Initial Third Floor Premises and the Additional Premises is shown on Exhibit A-2. Landlord and Tenant agree that the rentable area of the Initial Premises, the Additional Premises and the Building for all purposes under this Lease shall be considered part of the Premisesapplicable Rentable Areas specified in the Basic Lease Information, absent manifest and material error. The Premises shall be part of Building, together with the parking facilities serving the Building to be constructed by Landlord pursuant to (the terms “Parking Facility”), and the parcel(s) of this Lease land on which the Building and the Parking Facility are situated (collectively, the “Property”), is part of the Project, as and to including the extent constructed by Landlord. On or before Parking Facility serving the date that is ninety (90) days after the Delivery DateProject, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included identified in the calculation of Basic Lease Information (the rentable square feet of “Project”). Notwithstanding the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. foregoing, Tenant acknowledges that it has had an opportunity Landlord’s obligation to verify deliver the calculation Initial Premises and the Additional Premises (together, the “Occupied Space”) is contingent upon surrender of possession of the rentable square footage Occupied Space by the tenants in occupancy thereof pursuant to leases in effect as of the area as depicted on date of this Lease. In the Building Plans (as defined in the Tenant Improvement Agreement ) event that for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises any reason whatsoever Landlord fails to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method deliver possession of measurement described in this Paragraph. If Tenant determines that the rentable square footage any of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Occupied Space to Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage estimated delivery dates set forth in the Basic Lease InformationInformation – Commencement Date, then this Lease shall not be void or voidable (except as set forth below) and in no event shall Landlord be liable to Tenant, and Tenant shall have no claim against Landlord, for any loss or damage resulting from such failure to deliver or any delay in delivery. Within thirty Landlord shall use commercially reasonable efforts in good faith to cause the Initial Premises and the Additional Premises to be delivered on or about the estimated delivery dates (30) days subject to Force Majeure and provided that in no event shall Landlord be obligated to commence or prosecute any legal action against the existing tenants for unlawful detainer or otherwise). If Landlord has not delivered the Occupied Space to Tenant by August 1, 2006, as such date may be extended by Force Majeure delays (such date, as so extended, the “Delivery Deadline” ), then for each day during the period commencing on the first day following such agreement or resolutionthe Delivery Deadline and ending on the date immediately preceding the Commencement Date, Tenant shall pay receive a rent credit equal to Landlordone (1) day’s monthly Base Rent otherwise payable for the Occupied Space commencing in the month immediately following the month in which Base Rent is otherwise first due under this Lease. After September 15, or 2006, as such date may be extended by Force Majeure delays, then for each day during the period commencing on September 16, 2006 (as extended by Force Majeure delays), and ending on the date immediately preceding the Commencement Date, Tenant shall receive a rent credit equal to two (2) days’ monthly Base Rent otherwise payable for the Occupied Space commencing in the month immediately following the month in which Base Rent is otherwise first due under this Lease. The foregoing rent credit shall be applied as it accrues against all of Tenant’s rental obligations under the Lease in the order in which such obligations come due until such credit has been exhausted. Landlord shall pay agrees to use commercially reasonable efforts to give Tenant written notice of the projected delivery date at least ten (10) days prior to the date when Landlord anticipates delivery of possession of any portion of the Premises to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that failure of Landlord to deliver any such remeasurement based on a change in measurement standard only notice shall not affect delay any such delivery date. Further, if Landlord has not delivered both the amount Initial Premises and the Additional Premises to Tenant by November 1, 2006, as such date may be extended by Force Majeure delays (such date, as so extended, the “Termination Deadline”), Tenant may terminate this Lease without any liability to Landlord, by written notice to Landlord given at any time after the Termination Deadline until such time as Landlord delivers possession of Base Rent payable for the Initial Premises or any allowance applicable to Tenant. If Landlord delivers possession of the Initial Premises and the Additional Premises to Tenant and Tenant has not terminated this Lease within the time specified in the immediately preceding sentence, then Tenant’s right to terminate this Lease pursuant to the initial Term based on provisions of this paragraph shall become void. If there are any Force Majeure delays under this Article 1 of this Lease, then within ten (10) Business Days following the rentable square footage expiration of the Premisesapplicable Force Majeure delay, Landlord agrees to give Tenant written notice of such Force Majeure delay. Such notice by Landlord notice shall describe the Force Majeure delay, the beginning and Tenant acknowledge that physical changes may occur from time to time in end of such delay, and the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1resulting number of days of Force Majeure delay.
Appears in 1 contract
Samples: Lease Agreement (Hemacare Corp /Ca/)
Premises. Landlord hereby leases to Tenant Tenant, and Tenant hereby leases from Landlord upon Landlord, the terms Premises described in Section 1.3 together with the tenant improvements described on Exhibit C ("Tenant Improvements") and conditions hereinafter set forth together with rights of ingress and egress over public and common areas in the PremisesBuilding and on the land legally described on Exhibit A, including all easements pertinent to the land ("Land"). All corridors and restroom facilities located on each floor Tenant's lease of the Premises shall be considered part subject to all of the Premisesterms and conditions of this Lease. The Premises Premises, Building, Land, and the improvements on the Land other than the Building, are sometimes collectively referred to in this Lease as the "Property". Landlord shall be part of complete Landlord's Work, if any, in accordance with Exhibit C. Landlord represents that the Building Improvements, upon substantial completion, shall materially comply with all applicable codes, regulations, ordinances and laws including without limitation the American With Disabilities Act. Notwithstanding anything to the contrary in this Lease, Tenant shall provide Landlord and Landlord's contractor with such access to the Premises as may be constructed required by Landlord pursuant and Landlord's contractor to efficiently perform Landlord's Work. Tenant acknowledges and agrees that Landlord shall have no obligation to improve the terms of this Lease and part of the Project, Premises except as and to the extent constructed by Landlord. may be expressly set forth on Exhibit C. On or before the date that is ninety (90) days after the Delivery Commencement Date, Landlord shall measure may recalculate the "net rentable square feet" of the Premises (the net rentable square feet is calculated by taking the usable square feet of the Premises and multiplying by the load factor). The recalculated net rentable square feet shall be certified by Tenant's architect prior to the Commencement Date. Net rentable square feet shall be calculated in accordance with the Office Buildings: Methods BOMA standards, utilizing a load factor of Measurement ten and Calculating Rentable Area 9/10th percent (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement 10.9%) for the Building. Within one hundred twenty (120) days after Building which may be changed upon the Delivery Date, Tenant may, at its election, cause alteration of tenant spaces or building common areas before the Premises confirmation date letter to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable sent according to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1section 3.5.
Appears in 1 contract
Premises. Landlord leases to Tenant and Tenant leases from Landlord upon the terms Premises, together with the right in common with others to use the Common Areas. Tenant accepts the Premises, Building and conditions hereinafter Common Areas "AS IS", without relying on any representation, covenant or warranty by Landlord other than as expressly set forth in this Lease. Landlord and Tenant stipulate and agree to the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premisesrentable square footage set forth in Section 1 above without regard to actual measurement. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date parties acknowledge that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance include 4,382 rentable square feet attributable to the mezzanine space located therein and that, for purposes of calculating the Minimum Annual Rent and the Tenant's Share with respect to the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010Premises, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the such 4,382 rentable square feet of mezzanine space has been excluded. Except with respect to the foregoing, all of Tenant's obligations with respect to the Premises shall apply to such mezzanine space. Furthermore, to the extent that any utilities are not separately metered or submetered, for purposes of the payment determining Tenant's share of Base Rent or the calculation of percentages or figures based on rentable square footage but such utilities, Landlord shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of include the rentable square footage of the area as depicted on the Building Plans such mezzanine space.
(as defined a) Landlord shall construct, or cause to be constructed, at Landlord's sole cost and expense, in good and workmanlike manner using new first-quality materials, and in compliance with applicable Laws, the Tenant Improvement Agreement Improvements in accordance with Exhibit "C". Landlord and Tenant have attached hereto as Exhibit "C" the initial scope and plans ("Initial Plans") for the BuildingTenant Improvements. Within one hundred twenty (120) days after the Delivery Date, Tenant mayLandlord, at its electionsole cost and expense, shall cause the Premises its design professional(s) to be measured by Tenant’s Architect (as defined in prepare construction and permit drawings for the Tenant Improvement AgreementImprovements ("Construction Drawings") that conform to the Initial Plans. From time to time during the preparation of the Construction Drawings, Tenant shall provide such information as is necessary to complete the Construction Drawings within four (4) business days after Landlord's request therefor. Landlord reserves the right to make reasonable modifications to the Initial Plans as may be required to avoid or another licensed architect reasonably acceptable correct unforeseen site/building conditions, subject to Tenant's approval of such modifications, which approval shall not be unreasonably withheld or conditioned. Tenant shall review and provide comment or approve such requests within four (4) business days after Landlord has made request therefor and if Tenant fails to review and provide comment or approve such requests within such four (4) business day period, the request shall be deemed approved.
(b) Upon completion of the Construction Drawings, Landlord shall submit them to Tenant for Tenant's review and approval. Tenant shall review and provide any requested changes thereto, or if acceptable, approve the same in writing to Landlord, at within four (4) business days after delivery from Landlord. In all events, Tenant’s cost's requested changes to the Construction Drawings shall be limited to requesting changes that correct errors in the Construction Drawings from the requirements of the Initial Plans. Landlord agrees to make its architect available to Tenant, in accordance a timely manner, in connection with such review, to respond to any questions which Tenant may have. In the event that Tenant fails to either provide requested changes or approve the Construction Drawings delivered by Landlord within such four (4)- business day period, the Construction Drawings shall be deemed approved by Tenant. In the event that Landlord provides from time to time revised Construction Drawings to Tenant for Tenant's review and approval, Tenant shall review and approve or disapprove such drawings in writing to Landlord within four (4) business days after receipt thereof from Landlord and if Tenant fails to review and approve or disapprove the revised Construction Drawings within such four (4)-business day period, the revised Construction Drawings shall be deemed approved by Tenant. Following the completion of the Construction Drawings and no later than five (5) business days after request therefor, Tenant shall provide to Landlord Tenant's finish selections with respect to paint and carpet color(s) (such selections being consistent with the method Initial Plans and Construction Drawings). In any event, if Tenant fails to timely provide any information, consent or approval required of measurement described Tenant pursuant to this Section 2, such shall be considered Tenant Delay.
(c) If (i) during the course of the preparation of the Construction Drawings, Tenant requests changes to the draft Construction Drawings which do not conform to the Initial Plans, or (ii) following the completion of the Construction Drawings, Tenant requests changes to the Construction Drawings, then the same (in this Paragraphthe case of both (i) and (ii) above) shall constitute a change order requested by Tenant (a "Tenant Change Order"). Tenant Change Orders shall not be permitted without the prior written approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed by Landlord so long as the Tenant Change Order does not delay the Tenant Improvements being Substantially Completed. If Landlord approves any Tenant determines that Change Order and completes the rentable square footage of work associated with such Tenant Change Order, then any increase in the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount cost of the Tenant Improvement Allowance, and Improvements resulting from such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent Tenant Change Order shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within paid by Tenant within thirty (30) days following of receipt of an invoice thereof from Landlord. In the alternative, as a condition to Landlord's approval of such agreement or resolutionTenant Change Order, Landlord may require that, prior to Landlord's commencement of any work related to such Tenant Change Order, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, fifty percent (50%) of the amount estimated by Landlord to become due to Landlord from Tenant with respect to such Tenant Change Order, with the balance to be paid within thirty (30) days of receipt of invoice therefor from Landlord following completion of such work. Any delay in the Tenant Improvements being Substantially Completed by reason of any deficiency or excessTenant Change Order shall constitute a Tenant Delay hereunder.
(d) In constructing the Tenant Improvements, as Landlord reserves the case may be, in the Base Rent previously paid. Landlord may from time right to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord make substitutions of material of equivalent grade and adjust Tenant’s Proportionate Share based on such remeasurementquality if any specified material shall not be readily and reasonably available; provided, however, that any such remeasurement based on a change in measurement standard only right of substitution shall not affect the amount of Base Rent payable for the Premises apply to any paint or carpet selections or any allowance applicable other finish materials, without Tenant's consent, not to the initial Term based on the rentable square footage be unreasonably withheld or conditioned. During Landlord's construction of the Tenant Improvements, Landlord shall coordinate (and cause its contractors to coordinate) with Tenant in connection with Tenant's installation of its telecommunication wiring, data wiring, and air compressors and related plumbing in the Premises. Landlord , provided that Tenant strictly adheres to Landlord's construction schedule; and Tenant acknowledge that physical changes may occur from time further provided that, during such early access in the Premises, all provisions of this Lease shall apply (with the exception of Tenant's obligation to time pay Rent), specifically including but not limited to, under Sections 8 and 10 hereof; and Tenant's entry in the Premises shall not interfere with Landlord's construction of the Tenant Improvements. Landlord acknowledges that Tenant's accessing the Premises pursuant to the instructions and schedule of Landlord, shall not, unto itself, be deemed to be a Tenant Delay.
(e) Upon the Tenant Improvements being Substantially Completed, Landlord shall notify Tenant, and Tenant or Buildingits agents shall inspect the Premises with Landlord within five (5) business days of receipt of such notice from Landlord. Within five (5) business days following such inspection, Tenant shall deliver to Landlord a punchlist of defective or incomplete portions of the Tenant Improvements. Landlord shall cause such punchlist items to be repaired or completed within thirty (30) days of Landlord's receipt of the punchlist. Upon completion of all punchlist items to Tenant's reasonable satisfaction, it shall be presumed that all of the Tenant Improvements shall be free from defects in materials or workmanship that can be detected by Tenant's inspection, excluding all repairs which may result are required in an adjustment connection with routine maintenance. Furthermore, on that date which is one (1) year following the Commencement Date, it shall be presumed that all of the Tenant Improvements shall be free from latent defects in materials or workmanship unless Tenant notifies Landlord of any such additional defects prior to such date, excluding all repairs which are required in connection with routine maintenance. Landlord shall cause all warranties issued in connection with the construction of the Tenant Improvements to be issued jointly in Tenant’s Proportionate Share's and Landlord's name, as provided to the extent permissible, or if not permissible, Landlord shall make claim under such warranties on behalf of Tenant, to the extent necessary. (f) Notwithstanding the foregoing, in Paragraph 7.1the event that the Tenant Improvements are not Substantially Completed by the Estimated Commencement Date due, in whole or in part, to Tenant Delay, then Tenant's obligation to pay Rent hereunder shall not be affected or deferred on account of such delay and, therefore, the Commencement Date shall be deemed to be the date the Tenant Improvements would have been Substantially Completed but for Tenant Delay.
Appears in 1 contract
Samples: Lease Agreement (Intest Corp)
Premises. 4.1 Landlord's Work Landlord, at its cost, shall construct the Building and install the leasehold improvements as described in Schedule "B" in accordance with Landlord's building standards for a Class A building, in a good and workmanlike manner (the "Landlord's Work"). The clean room area and the warehouse area will be finished by the Landlord leases in accordance with building standard warehouse space. All improvements, fixturing and installations to the Premises required by Tenant which are not specifically expressed as being Landlord's Work shall be carried out by Landlord at Tenant's cost in accordance with the provisions for Landlord performing work on behalf of Tenant contained in Article 5 hereof. It is agreed and understood that no credit will be allowed to Tenant and in the event Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor does not require one or more of the Premises shall items required to be considered performed or installed by the landlord as part of the PremisesLandlord's Work mentioned in Schedule "B". The Premises Landlord shall be part assign to the Tenant any warranties received by the Landlord in connection with the Landlord's Work or the construction of the Building to be constructed the extent that the Tenant has assumed in this lease the related obligation to maintain, repair or replace the items covered by the warranty. Any additional taxes or insurance premiums or other costs resulting from any leasehold improvements made to the Premises by Landlord pursuant or Tenant shall be the responsibility of Tenant. Subject to the terms provisions of Article 5 of this Lease lease, Tenant may install in the Premises such partitions and part of decorations as it may desire, and, if expressly permitted in writing by the ProjectLandlord, as and such installations may be commenced prior to the extent constructed Commencement Date; provided such work shall be done by Landlord. On such contractor or before the date that is ninety (90) days after the Delivery Datecontractors as Landlord may select and, provided such work shall be done in compliance with such rules and regulations as Landlord shall measure the rentable square feet establish; it being further understood and agreed that Tenant's entry on and occupancy of the Premises prior to the Commencement Date shall be governed by and be subject to all the provisions, covenants and conditions of this lease other than those requiring payment of rent or additional rent. Tenant shall be responsible for all costs and expenses of such work and for any costs and expenses of Landlord caused directly or indirectly by such work or by delays caused to the Landlord directly or indirectly as a result of such work; provided further and without prejudice to the foregoing that in accordance with the Office Buildings: Methods of Measurement event that Tenant shall desire to install any such partitions and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, decorations prior to the Roof Top Area Commencement Date and such installations shall not be included commenced and proceeded with in sufficient time to permit Landlord to provide the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage improvements set forth in Schedule "B" prior to the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to TenantCommencement Date, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage commencement of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time term of this lease shall in the Premises no way be delayed or Building, which may result in an adjustment in Tenant’s Proportionate Share, postponed as provided in Paragraph 7.1a consequence thereof.
Appears in 1 contract
Samples: Lease Amendment (Lumenon Innovative Lightwave Technology Inc)
Premises. In consideration of the covenants and agreements set forth in this Lease and other good and valuable consideration, Landlord leases the Premises to Tenant and Tenant leases the Premises from Landlord Landlord, upon and subject to the terms and conditions hereinafter set forth in this Lease. Landlord warrants and represents to Tenant that Landlord has the Premises. All corridors sole and restroom facilities located on each floor of the Premises shall be considered part of exclusive right to lease the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet approximate sizes of the Premises and Building are set forth in the Basic Terms. Pending measurement as provided below, those figures will be used for determining Rent. Upon Substantial Completion of the Tenant Improvements, Landlord’s architect will measure the Premises and the Building, which measurement shall be certified to Landlord and Tenant. The Premises and the Building will be measured substantially in accordance with ANSI/BOMA Z65.1-1996, as published by the Building Owners and Managers Association International (aka “BOMA”). Tenant shall have the right to verify such measurement in accordance with the Office Buildings: Methods terms provided herein and if the actual number of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on Premises is determined pursuant to the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises remaining provisions of this Section 1.1 to be measured by more or less than 110,875 rentable square feet, then the Basic Rent, Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable Share of Excess Property Expenses percentage and any other applicable provisions determined with reference to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from (excluding, however, any reduction in the amount of the rental abatement set forth in Paragraph 4 of the Basic Terms) shall be adjusted to conform to the actual rentable square footage of feet contained in the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, and Landlord and Tenant shall each promptly execute and deliver to the other an amendment memorializing any changes to the Basic Rent and any other applicable provisions of this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by based upon the rentable square footage of the Premises. Until Within ten (10) days after receipt of Landlord’s architect’s certification as to the rentable square footage of the Premises, Tenant shall have the right to either approve or object to such certification. If Tenant fails to deliver notice of its approval or objection within said ten (10) day period, the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis as set forth in such architect’s certificate. If Tenant timely objects to such architect’s certification of the approximate measurement of the Premises, then together with its objection, Tenant must specify the rentable square footage Tenant believes the Premises contains. The parties shall use reasonable efforts to resolve their differences. If within fifteen (15) days after Tenant’s objection the parties have not resolved their differences, each party shall name an architect within ten (10) days thereafter. Within ten (10) days after being named, said two architects shall name a third architect, who shall, within twenty (20) days, measure the rentable square footage of the Premises pursuant to the BOMA standards set forth in the Basic Lease Information. Within thirty (30) days following such agreement herein and select either Landlord’s or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; providedarchitect’s measurement, however, that any such remeasurement based on a change in whichever measurement standard only shall not affect is closest (whether above or below the amount measurement of Base Rent payable for the Premises or any allowance applicable third architect) to the initial Term based on third architect’s measurement. The selected measurement shall be the rentable square footage of the Premises. Landlord The party whose measurement was not selected by the third architect shall pay the fees and Tenant acknowledge that physical changes may occur from time to time expenses of the third architect, and each party shall pay the fees and expenses of its own architect. The square footages so determined will be specified in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, Commencement Date Memorandum executed as provided in Paragraph 7.1Section 1.2.
Appears in 1 contract
Samples: Office Lease Agreement (Fender Musical Instruments Corp)
Premises. Landlord leases to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of Tenant accepts the Premises shall be considered part and the Building “AS IS”, without relying on any representation, covenant or warranty by Landlord other than as expressly set forth in this Lease (including, without limitation, Section 28 of this Lease). Prior to the Premises. The Premises shall be part Commencement Date, Tenant may, at Tenant’s sole cost and expense, cause the total rentable square footage of the Building to be constructed measured by an architect approved by Landlord, such approval not to be unreasonably withheld, based on the applicable Building Owners and Managers Association external wall method of measurement. Tenant shall provide Landlord pursuant with a copy of such determination and allow Landlord to review same. If the terms of this Lease and part actual measurement of the Project, as and to the extent constructed by Landlord. On or before the date that Building is ninety (90) days after the Delivery Date, Landlord shall measure less than the rentable square feet of the Premises footage set forth in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted Section 1(b) above by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the an amount which is more than 1,000 rentable square feet of feet, then (i) Tenant’s Minimum Annual Rent and Annual Operating Expense payments shall be recalculated based upon the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures per square foot amount payable from time to time hereunder, (ii) all other matters herein based on Tenant’s rentable square footage but shall be included in adjusted accordingly, and (iii) Landlord and Tenant shall enter into a written amendment to this Lease setting forth the term “Premises” for all other purposesrevised measurement, calculations, Minimum Annual Rent and Annual Operating Expenses. If no measurement is timely made, then Landlord and Tenant acknowledges that it has had an opportunity stipulate and agree to verify the calculation of the rentable square footage of the area as depicted on Building set forth in Section 1(b) above without regard to actual measurement. Notwithstanding the Building Plans (as defined in the Tenant Improvement Agreement ) foregoing, for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method purposes of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord calculations and Tenant shall execute an amendment all other calculations made pursuant to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage foot of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result the rentable square foot of the Building shall in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1no event be deemed to be greater than 800,250 rentable square feet for purposes of calculating Minimum Annual Rent and Annual Operating Expenses.
Appears in 1 contract
Samples: Lease Agreement (Zulily, Inc.)
Premises. (a) Landlord hereby leases to Tenant and Tenant hereby leases from Landlord upon Landlord, subject to all of the terms and conditions hereinafter set forth herein, those certain premises (the "Premises") described in the Basic Lease Information and as outlined in red or as shown in the cross-hatched markings on the floor plan attached hereto as Exhibit C. The parties agree that for all purposes hereunder the premises shall be stipulated to contain the number of square feet of rentable area described in the Basic Lease Information. All corridors and restroom facilities The Premises are located in that certain office building (the "Building") whose street address is as shown in the Basic Lease Information. The Building is located on each floor that certain land which is also improved with landscaping, parking facilities and other improvements and appurtenances. Such land, together with all such improvements and appurtenances and the Building, are all or part of a project which may consist of more than one building and additional facilities, as described in the Basic Lease Information (collectively referred to herein as the "Project"). However, Landlord reserves the right to make such reasonable changes, additions and/or deletions to such land, the Building and the Project and/or the common areas and parking or other facilities thereof as it shall determine from time to time.
(b) The calculation of the Rentable Area of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed has been made by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with Landlord's standard practices for measuring Rentable Area. Prior to the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010Term Commencement Date, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had will have an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause inspect the Premises to be measured by Tenant’s Architect (as defined in and the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this ParagraphRentable Area. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to acknowledge and agree that the Rentable Area set forth in the Basic Lease Information is approximate only. In this Lease memorializing regard, in the rentable square footage of event it is ever determined that the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of actual Rentable Area in the Premises is agreed upon more or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on less than the basis of the approximate rentable square footage amount set forth in the Basic Lease Information. Within thirty (30) days following such agreement , then: the Rentable Area contained in the Basic Lease Information shall not be adjusted, no other provision contained in this Lease which is applicable or resolutionsubject to the Rentable Area of the Premises in the Basic Lease Information shall be modified or amended, Tenant shall pay to Landlord, or Landlord shall pay not be entitled to Tenantrecover from Tenant any "deficiency" (which deficiency shall be based solely on the difference, if any, between the actual rentable area and the approximate rentable area in the Basic Lease Information, if any) in the amount of rent previously paid by Tenant pursuant to the Lease, nor shall Landlord be entitled to increase the rent for any deficiency or excess"overage" (which overage shall be based solely on the difference, as if any, between the case may be, actual rentable area and the rentable area set forth in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord Basic Lease Information), and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only Tenant shall not affect be entitled to recover from Landlord any refund of the "overage" in the amount of Base Rent payable for the Premises or any allowance applicable rent previously paid by Tenant pursuant to the initial Term based on the rentable square footage of the Premises. Landlord and Lease, nor shall Tenant acknowledge that physical changes may occur from time be entitled to time reduction in the Premises or Building, which may result amount of rent payable by Tenant in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1the future pursuant to this Lease.
Appears in 1 contract
Samples: Office Lease (Business Bancorp /Ca/)
Premises. Landlord hereby leases to Tenant Tenant, and Tenant hereby leases from Landlord Landlord, upon the terms and subject to the conditions hereinafter set forth of this Lease, the Building located at the address specified in the Basic Lease Information (the "Building") together with the adjacent driveways, parking areas (in size sufficient to yield at least 453 parking spaces), sidewalks and landscape areas (collectively, the "Premises"). All corridors The approximate configuration and restroom facilities located on each floor location of the Premises shall be considered part of is shown on Exhibit A. Landlord and Tenant agree that the Premises. The Premises shall be part rentable area of the Building to be constructed by Landlord pursuant to the terms of for all purposes under this Lease and part of shall be the ProjectRentable Area specified in the Basic Lease Information, as and to the extent constructed by Landlord. On or before the date provided that is within ninety (90) days after from the Delivery Commencement Date, Tenant may have the Rentable Area of the Building verified by a CAD calculation performed by Landlord's architect. In the event that such verification reveals a discrepancy between the measured square footage of the Building as measured by Landlord's architect and the Rentable Area specified in the Basic Lease Information, and Landlord and Tenant are unable to agree upon the Rentable Area of the Premises, an independent architect acceptable to both parties (the cost of which shall be divided equally between Landlord and Tenant) shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architectstandard herein provided. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable The square footage of the area Building as depicted on determined by said independent architect shall be the Building Plans (as defined in the Tenant Improvement Agreement ) for Rentable Area of the Building. Within one hundred twenty (120) , and within thirty days after thereafter the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant parties shall execute an amendment Addendum to this Lease memorializing confirming same and the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunderRent, Tenant’s monthly payments 's Share of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth Operating Costs and any other sums due hereunder based in the Basic Lease Information. Within thirty (30) days following such agreement whole or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based part on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result and further any necessary payments or reimbursements shall be made by the appropriate party. The Rentable Area of the Building will be calculated in an adjustment accordance with the American National Standard Method of Measuring Floor Area in Tenant’s Proportionate ShareOffice Buildings, ANSI/BOMAA65.1-1996, except that the Rentable Area of the Building shall be computed as if the second floor of the Building extended through any atrium to the exterior wall, as provided in Paragraph 7.1if the atrium did not exist.
Appears in 1 contract
Premises. In consideration of the mutual covenants this Lease describes and other good and valuable consideration, Landlord leases the Premises to Tenant and Tenant leases the Premises from Landlord Landlord, upon and subject to the terms terms, covenants and conditions hereinafter set forth in this Lease. Subject to verification and adjustment as provided below, Landlord and Tenant presently believe that the Premises. All corridors useable area and restroom facilities located on each floor rentable area of the Premises shall be considered part of are as specified in the PremisesBasic Terms. The Premises shall be part of the Building to be constructed by Landlord pursuant Prior to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Commencement Date, Landlord shall measure furnish to Tenant, Landlord’s Architect’s determination of both the useable area and the rentable square feet area of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area BOMA Standards (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by “Landlord’s architectDetermination”). As provided in Paragraph 40.7, If the Roof Top Area shall not be included in the calculation determination of the rentable square feet area of the Premises for purposes of in accordance with BOMA Standards, differs from the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included area specified in the term “Premises” for all other purposes. Basic Terms, Landlord and Tenant acknowledges that it has had an opportunity will amend this Lease to verify the calculation of adjust accordingly the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery DatePremises, Tenant mayBase Rent, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Share of Operating Expenses Percentage, any and all Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described Allowances and all other matters in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building PlansLease which are determined, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon calculated or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until In the rentable square footage of event that a licensed Florida architect engaged by the Premises is agreed upon or otherwise resolved hereunderTenant shall dispute Landlord’s Determination, Tenant’s monthly payments of Base Rent shall be calculated based on the basis of BOMA Standards, and Tenant provides written notice (the approximate rentable square footage set forth in the Basic Lease Information. Within “Dispute Notice”) to Landlord within thirty (30) days after Landlord provides Tenant with Landlord’s Determination (the “Dispute Notice Date”) detailing the basis for such dispute, the following dispute resolution procedure shall apply: (i) to the extent that the difference between the two (2) architects’ measurements is less than a two percent (2%) differential, then the two (2) measurements shall be averaged or (ii) to the extent that the difference between the two (2) architects’ measurements is greater than a two percent (2%) differential, then the Landlord’s and Tenant’s architects shall select a third architect who shall make a measurement of the Premises, based on the BOMA Standards, which measurement made by the third architect shall be averaged with the measurement made by the Landlord’s architect or the Tenant’s architect, whichever of the two shall be the closer in amount to that of the third architect, and such agreement average shall be conclusively binding on each of Landlord and Tenant. The cost of the third architect shall be shared equally between Landlord and Tenant. To the extent either of Landlord or resolutionTenant owe monies to the other due to such adjustment of previously paid Base Rent and/or Additional Rent, such amount shall be either: (i) paid to Landlord by Tenant with the next upcoming monthly installment of Base Rent due (in the event that Tenant owes monies to Landlord) or (ii) credited against the next upcoming installment of monthly Base Rent (in the event that Landlord owes monies to Tenant). In the event that the rentable area of the Premises, as so determined, shall be more than 90,000 rentable square feet, for purposes of this Lease, the rentable area of the Premises itself shall nevertheless be deemed not to exceed 90,000 rentable square feet; if the rentable area of the Premises, as so determined, shall be less than 81,750 rentable square feet, then, within ten (10) Business Days following Tenant’s receipt of the binding determination of such rentable area, Tenant shall pay have the right by written notice to LandlordLandlord to terminate this Lease. If Tenant does not provide the Dispute Notice on or before the Dispute Notice Date, or Landlord shall pay Tenant will be deemed to Tenant, have waived its right to dispute the amount measurement of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord useable and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord , and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in TenantLandlord’s Proportionate Share, as provided in Paragraph 7.1Determination shall be deemed conclusive for all purposes.
Appears in 1 contract
Samples: Office Lease Agreement (Royal Caribbean Cruises LTD)
Premises. Landlord hereby leases to Tenant Tenant, and Tenant hereby leases from Landlord Landlord, upon the terms and subject to the conditions hereinafter set forth of this Lease, the Building located at the address specified in the Basic Lease Information (the “Building”) together with the adjacent driveways, parking areas (in size sufficient to yield at least 453 parking spaces), sidewalks and landscape areas (collectively, the “Premises”). All corridors The approximate configuration and restroom facilities located on each floor location of the Premises shall be considered part of is shown on Exhibit A. Landlord and Tenant agree that the Premises. The Premises shall be part rentable area of the Building to be constructed by Landlord pursuant to the terms of for all purposes under this Lease and part of shall be the ProjectRentable Area specified in the Basic Lease Information, as and to the extent constructed by Landlord. On or before the date provided that is within ninety (90) days after from the Delivery Commencement Date, Tenant may have the Rentable Area of the Building verified by a CAD calculation performed by Landlord’s architect. In the event that such verification reveals a discrepancy between the measured square footage of the Building as measured by Landlord’s architect and the Rentable Area specified in the Basic Lease Information, and Landlord and Tenant are unable to agree upon the Rentable Area of the Premises, an independent architect acceptable to both parties (the cost of which shall be divided equally between Landlord and Tenant) shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architectstandard herein provided. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable The square footage of the area Building as depicted on determined by said independent architect shall be the Building Plans (as defined in the Tenant Improvement Agreement ) for Rentable Area of the Building. Within one hundred twenty (120) , and within thirty days after thereafter the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant parties shall execute an amendment Addendum to this Lease memorializing confirming same and the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunderRent, Tenant’s monthly payments Share of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth Operating Costs and any other sums due hereunder based in the Basic Lease Information. Within thirty (30) days following such agreement whole or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based part on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result and further any necessary payments or reimbursements shall be made by the appropriate party. The Rentable Area of the Building will be calculated in an adjustment accordance with the American National Standard Method of Measuring Floor Area in Tenant’s Proportionate ShareOffice Buildings, ANSI/BOMAA65.1-1996, except that the Rentable Area of the Building shall be computed as if the second floor of the Building extended through any atrium to the exterior wall, as provided in Paragraph 7.1if the atrium did not exist.
Appears in 1 contract
Premises. Landlord leases to Tenant the premises described in Section 1 and in Exhibit A (the "Premises"), located in the Building described on Exhibit B. The Building is part of a larger, multi-building development shown on Exhibit B (the "Project", with the buildings collectively referred to as the "Buildings"). Upon completion of the Tenant leases from Landlord upon the terms and conditions hereinafter set forth Improvements to the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from to be measured by Landlord's architect using the rentable square footage of BOMA American National Standard Institute Publication, ANSI Z65.1-1996 standards (the "Rentable Square Footage"), which measurement shall govern with respect to the Premises as depicted on Area of Section 1(d). Tenant shall have the Building Plans, Tenant may deliver written results of its measurement right to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, have a Washington-licensed surveyor approved by Landlord and jointly responsible to Landlord and Tenant shall execute an amendment to this Lease memorializing verify the rentable square footage Premises Net Rentable Area determined by Landlord's Architect, if it does so within twenty (20) days after receipt of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premisesnotice from Landlord's Architect. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share If based on such remeasurement; providedverification Tenant disagrees with the Net Rentable Area determined by Landlord's Architect it shall advise Landlord and its Architect of the deviation within ten (10) days thereafter or be deemed to have accepted Landlord's Architect's determination. If Tenant gives a timely notification of disagreement, howeverthen the parties shall jointly select a Washington-licensed surveyor to review the calculations of Landlord's architect and the Tenant selected surveyor and make the determination of Premises Net Rentable Area, that any such remeasurement based which determination shall be final and binding on a change in measurement standard only the parties. Landlord shall not affect cause each building within the amount of Base Rent payable Project to be similarly measured for the Premises or any allowance applicable purposes of Sections 1(e) and 1(f) upon completion of the interior improvements of such building(s). Each building shall be deemed added to the initial Term based on Project for the rentable square footage purposes of such computation upon the completion of the Premises. Landlord Building Shell and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate ShareCore improvements, as provided defined in Paragraph 7.1Exhibit C, to such building and the computations of Section 1, if delayed pending final measurement of Rentable Square Footage, shall be deemed retroactive to such date.
Appears in 1 contract
Premises. Landlord leases Lessor does hereby lease to Tenant Lessee and Tenant Lessee hereby leases from Landlord upon Lessor space on the terms first, second, and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building third floors or that certain "Building" to be constructed by Landlord pursuant to Lessor at 1101 Xxxxx Xxxxxx, Xxx Xxxxxx, Xxxxxxxxxx xxxe particularly described on attached Exhibit A-1 (the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B"Real Property"), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method Improvement Agreement attached hereto as Exhibit B (the "Improvement Agreement"). The Building will consist of measurement described approximately 76,600 sq. ft. of rentable area, of which approximately 53,659 sq. ft. of rentable area (all of the second and third floors and approximately 2,100 sq. ft. of rentable area on the ground floor) will be included in this Paragraphthe Premises. If Tenant determines that Attached as Exhibit A-2 is a space plan for the rentable square footage building indicating the location of the Premises as constructed varies on each floor. The parties will measure the floor rentable area of the Building and the Premises upon completion of the work anticipated by the Improvement Agreement using the BOMA Z65.1-1996 standard (provided, however that the area of the lobby atrium above the ground floor, the roof deck area, if any, approved by Lessor pursuant to the Improvement Agreement, and those portions of the parking garage of the Building, other than the mechanical rooms that serve the Premises located in the parking garage, shall not be considered in any measurement and further provided that any floor space omitted from the Building for a second/third floor lobby atrium will be included in the floor rentable square footage area calculation). Upon such determination of the rentable area of the Premises as depicted on and the Building PlansBuilding, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord Lessor and Tenant Lessee shall execute an amendment to this Lease memorializing setting forth the rentable accurate square footage of the Premises and amendingthe Building and the accurate Lessee's proportionate share of common operating expenses. Said Lease is subject to the terms, covenants and conditions herein set forth and the Lessee covenants, as necessary, the amount of Base Rent payable by Tenant, the amount a material part of the Tenant Improvement Allowanceconsideration for this Lease, to keep and such other amounts perform each and other terms hereof all of said terms, covenants and conditions by it to be kept and performed and that are affected by this Lease is made upon the rentable square footage condition of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1said performance.
Appears in 1 contract
Samples: Office Building Lease (Oacis Healthcare Holdings Corp)
Premises. Landlord leases to Tenant and Tenant leases from Landlord upon shall not utilize any electric equipment within the terms and conditions hereinafter set forth the PremisesPremises with a rated capacity in excess of 0.5 kilowatts. All corridors and restroom facilities located on each floor of Lighting in the Premises shall be considered part not exceed 2 wattx xxx square foot and overall utilization of electricity in the Premises. The Premises shall be part of not exceed 3 wattx xxx square foot. To insure that such capacity is not exceeded and to avert possible adverse effects upon the Building to be constructed by Landlord pursuant to the terms electric service, Tenant shall not connect additional reproducing equipment, electronic data processing equipment, heating equipment, or special lighting in excess of this Lease and part of the Project, Building Standard.
8.2 Except as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Datehereinafter provided, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included obligated to furnish any services or utilities, other than those stated in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this ParagraphSection 8.1 above. If Landlord elects to furnish services requested by Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plansin addition to those listed in Section 8.1, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such at times other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth than those stated in the Basic Lease Information. Within thirty (30) days following such agreement or resolutionSection 8.1, Tenant shall pay to Landlord the prevailing charges in the Building for such services on the due date of the next monthly installment of Base Rental. Notwithstanding anything contained herein to the contrary and notwithstanding any approval thereof by Landlord, all costs for extraordinary, unusual or excessive demand for electrical or other utility service and all costs of submetering or monitoring of such use shall be borne by Tenant and Landlord reserves the right to impose an additional charge on tenant for extraordinary, unusual or excessive demand for electrical or other utility service in an amount reasonably determined by landlord to be due for such extraordinary, unusual or excessive demand. These unusual costs include, but are not limited to, 24-hour service, high consumption equipment, high concentration lighting, additional HVAC supplement for equipment or lighting-induced heat build-up and installation of metering equipment. Landlord reserves the right to install, at Tenant's sole cost and expense, submeters and related equipment, relating to Tenant's use of electrical or other utilities services. If Landlord consents thereto (which consent may be withheld by Landlord for any reason whatsoever), additional Building riser capacity for electricity or other utility services may be provided, and the cost thereof, including twenty percent (20%) thereof for overhead, shall be paid by Tenant upon Landlord's demand. If Tenant fails to make any payment hereunder, Landlord may, without notice to Tenant and in addition to Landlord's other remedies under this Lease, discontinue any or all of such additional or after-hour services.
8.3 Failure to any extent to furnish or any stoppage or interruption of these defined services resulting from any cause beyond the reasonable control of Landlord shall pay not render Landlord liable in any respect for damages to Tenantproperty or business, the amount of any deficiency nor be construed as an actual or excess, as the case may beconstructive eviction, in the Base Rent previously paid. Landlord may whole or in part, nor relieve Tenant from time any of its obligations under this Lease, nor entitle Tenant to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount abatement or diminution of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1Rent.
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Premises. In consideration of the covenants and agreements set forth in this Lease and other good and valuable consideration, Landlord leases the Premises to Tenant and Tenant leases the Premises from Landlord Landlord, upon and subject to the terms terms, covenants and conditions hereinafter set forth the Premisesin this Lease. All corridors and restroom facilities located on each floor of Landlord has determined that the Premises shall be considered part contains the estimated amount of rentable square feet specified in the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by LandlordBasic Terms (“Estimated Area”). On or before about the date that is ninety (90) days after the Delivery Commencement Date, Landlord shall measure the rentable square feet of will cause Landlord’s architect to remeasure the Premises in accordance with the methods of measuring rentable area described in the Standard Method for Measuring Floor Area in Office Buildings: Methods of Measurement , ANSI Z65.1 - 1996, promulgated by the Building Owners and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010Managers Association International, Method B), as interpreted by Landlord’s architectwith full-floor and multi-tenant add-on factors also determined in accordance therewith. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on The actual rentable square footage but shall (“Actual Area”) will then be included specified in the term “Premises” for all other purposesCommencement Date Memorandum. Tenant acknowledges that it has had an opportunity to verify If the calculation Actual Area differs from the Estimated Area, the monthly installments of Basic Rent, the Initial Tenant’s Share of Excess Expenses Percentage, the amount of the rentable square footage of the area as depicted Security Deposit and other matters that vary based on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the actual rentable square footage of the Premises as constructed varies from will be adjusted based on the Actual Area and set forth in the Commencement Date Memorandum. The failure of Tenant to deliver notice that it disputes the rentable square footage so determined by Landlord’s architect within ten (10) days after the delivery of such determination to Tenant constitutes Tenant’s agreement that for all purposes the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement will conclusively be deemed to Landlord. At such time as contain the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenantspecified in Landlord’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenantarchitect’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1determination.
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Premises. Landlord leases Effective as of the date hereof, Section 1.01 of the Original Lease is amended to add the following: “Tenant and Landlord agree that Tenant leases shall surrender the “Existing Premises” (such term as used herein intending to refer to the 3,102 rentable square feet on the 3rd floor of the portion of the Building known as the Riverview Building and known as Suite 3D) to Landlord on the “Replacement Premises Commencement Date” (as herein after defined) in accordance with the provisions of Section 8.6, and as of such date Tenant shall cease to have any tenancy or occupancy rights to the Existing Premises. Landlord and Tenant agree that from and after the Replacement Commencement Date, the “Premises” shall be the 5,855 rentable square feet on the 2nd floor of the portion of the Building known as the Courtside Building, shown on Exhibit A (revised) attached hereto (also known as the “Replacement Premises”). Tenant agrees to lease the Replacement Premises from Landlord, and Landlord upon hereby agrees to lease the Replacement Premises to Tenant, subject to all of the terms and conditions hereinafter set forth hereof, commencing on the Premises. All corridors and restroom facilities located on each floor of the Replacement Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Commencement Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an a full, adequate and complete opportunity to verify inspect the calculation of the rentable square footage of the area as depicted on the Building Plans Replacement Premises, and, subject to Landlord’s obligation to complete “Landlord’s Replacement Premises Work” (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Datehereinafter defined), Tenant mayis fully and completely satisfied with the Replacement Premises. If any repairs, at its electionimprovements or work, cause other than Landlord’s Replacement Premises Work, should be necessary to prepare the Replacement Premises to be measured by for Tenant’s Architect (as defined in the use and occupancy, Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, shall perform such additional work at Tenant’s cost, sole cost and expense and in any event in accordance with the method terms and conditions of measurement described in this ParagraphLease. If Tenant determines that On the rentable square footage Replacement Premises Commencement Date, this Lease shall terminate with respect to the Existing Premises and all of the Premises as constructed varies from the rentable square footage terms and conditions of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing shall apply to the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Replacement Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunderThereafter, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable all references to the initial Term based on capitalized term “Premises” shall mean the rentable square footage of the Replacement Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1.”
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Samples: Lease (Forrester Research, Inc.)
Premises. 2.1 Landlord leases the Premises to Tenant and Tenant leases the Premises from Landlord for the term and upon the terms conditions and conditions hereinafter covenants set forth in this Lease. Tenant will have the Premises. All corridors non-exclusive right to use (a) the common and restroom facilities public areas of the Building and (b) subject to such requirements (other than the payment of any fee therefor) and limitations as Landlord, in its sole and absolute discretion, may impose, the telephone room located on each the ninth (9th) floor of the Building. Except as may otherwise be expressly provided in this Lease, the lease of the Premises does not include the right to use the roof, mechanical rooms, electrical closets, janitorial closets, parking areas or other non-common or non-public areas of the Building.
2.2 The rentable area in the Building and in the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed determined by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises ’s architect in accordance with the Building Owners and Managers Association International Standard Method for Measuring Floor Area in Office Buildings: Methods of Measurement and Calculating Rentable Area (, ANSI/BOMA Z65.1 – 2010Z65.1-1996. Landlord shall have the option, Method B)exercisable by written notice to Tenant at any time during the first one hundred eighty (180) days of the Term, as interpreted to have the rentable floor area of the Premises remeasured by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included architect in the calculation manner described above or any successor thereto irrespective of whether any option to expand or contract the Premises is exercised by Tenant. Upon such remeasurement by the Landlord’s architect, Landlord may, at its option, give Tenant written notice of the rentable square feet floor area so determined, in which event the rentable area as thus remeasured shall be deemed to be the rentable floor area of the Premises for all purposes of this Lease, all Rent theretofore paid by Tenant to Landlord during the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but Term shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowanceretroactively adjusted, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent any deficiency shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within paid by Tenant to Landlord within thirty (30) days following such agreement or resolution, after Landlord’s notice to Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on setting forth the rentable square footage floor area of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1.
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Premises. In consideration of the obligation of Tenant to pay rent as herein provided, and in consideration of the other terms, provisions and covenants hereof, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord upon the terms Premises for the Permitted Use. The Premises are comprised of the Net Rentable Area in the Building situated on the Land in the County of Durham, City of Durham, State of North Carolina, more particularly described on Exhibit A, attached hereto and conditions hereinafter set forth incorporated herein by reference, together with all rights, privileges, easements, appurtenances and immunities belonging to or in any way pertaining to the Premises. All corridors Except as provided herein (and restroom facilities located on each subject to latent defects not readily apparent through visual inspection and identified “punchlist” items, which Landlord shall repair within a reasonable The Building is part of the Project and consists of a total of Eighty-Five Thousand Six Hundred and Twenty-Two (85,622) rentable square feet with the Building being comprised of Fifty One Thousand Six Hundred Sixty-Seven (51,667) rentable square feet. Landlord hereby represents and warrants to Tenant that the foregoing representations regarding rentable square feet are consistent with the definition of rentable area calculated pursuant to Building Owners and Managers Association Standards. A floor plan of the Premises shall be considered is attached hereto and made a part of hereof as Exhibit B. As an appurtenance to the Premises. The Premises shall be part of , Tenant, its employees and invitees will have the Building nonexclusive right to be constructed by Landlord pursuant to use the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for Common Areas at the Building. Within one hundred twenty (120) five business days after of the Delivery Commencement Date, Tenant maywill, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to upon demand of Landlord, at Tenant’s cost, in accordance with the method execute and deliver to Landlord a letter of measurement described in this Paragraph. If Tenant determines that the rentable square footage acceptance of delivery of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans(subject to latent defects not readily apparent through visual inspection and identified “punchlist” items, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, which Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the repair within a reasonable amount of Base Rent payable by Tenanttime), acknowledging the amount Commencement and Termination Dates of this Lease. Except for any items the cost of which is paid out of the Tenant Improvement Allowance, Landlord shall perform, at its sole cost and such other amounts and other terms hereof that are affected by the rentable square footage expense, all work detailed on Exhibit C hereto. The upfit of the Premises. Until the rentable square footage of , will be performed by Landlord in accordance with the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth Specifications in the Basic Lease Information. Within thirty (30) days following such agreement or resolutionWork Letter, Tenant shall pay if applicable attached hereto and made a part hereof Exhibit D. Subject to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, reasonable rules and regulations as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure prescribe and subject to rights of ingress and egress of other tenants of the Premises and/or Project, Tenant and its invitees will have the Building in accordance with generally accepted remeasurement standards selected by right to the non-exclusive usage of twenty (20) parking spaces. Landlord and adjust will not be responsible for enforcing Tenant’s Proportionate Share based on such remeasurement; providedparking rights against any third parties. Tenant is granted a non-exclusive right to use, howeverin common with the other tenants and users of the Project, all of the Common Areas. Landlord shall have exclusive control and management responsibility of the Common Areas. Landlord may, from time to time, alter the Common Areas, install kiosks, planters, fountains, sculptures, signs, and other structures within the Common Areas provided however that any such remeasurement based on a change in measurement standard only alterations shall not affect the amount materially and adversely interfere with Tenant’s use or enjoyment of Base Rent payable for the Premises or any allowance applicable decrease Tenant’s parking spaces. Landlord shall have the right to establish, modify, and enforce reasonable rules and regulations with respect to the initial Term based on Common Areas and to grant to individual tenants the rentable square footage right to conduct retail sales within the Common Areas. Landlord makes no representation or warranty concerning the size of the Common Areas and may, in the future, reduce the size of the Common Areas in its reasonable discretion, provided however that such reduction shall not materially and adversely interfere with Tenant’s use or enjoyment of the Premises. Landlord , and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may shall result in an adjustment a commensurate reduction in Tenant’s Proportionate Share. Landlord hereby grants to Tenant a continuing right of first refusal to lease vacant and available space in the Building (the “Additional Space”) under the terms and conditions as provided below:
(i) Subordinate to other tenants at the Project with pre-existing First Right of Refusal, and so long as there is no event of default by Tenant hereunder beyond any applicable grace and/or cure period, Landlord will notify Tenant when it has all or a portion of the Additional Space for lease to a third party (the “Third Party”) and the terms and conditions upon which it is willing to lease such space (“Landlord’s Notice”).
(ii) Tenant shall provide written notice to Landlord, as to Tenant’s decision to lease or not to lease the Additional Space within five (5) business days after Landlord’s Notice is received. If Tenant does provide to Landlord notice to lease the Additional Space, Landlord and Tenant will execute a lease amendment adding the Additional Space to the Premises within twenty (20) days after Landlord’s receipt of Tenant’s notice of intent to lease on all the same terms provided to the Third Party. If Tenant does not provide written notice to Landlord within five (5) business days after receipt of the Landlord's Notice, Tenant will have been deemed to have waived its right to lease the Additional Space and Landlord shall be free to enter into a lease with the Third Party. Should all or any portion of the Additional Space become vacant thereafter, Tenant shall again have the right of first refusal provided herein.
(iii) The rights provided to Tenant in Paragraph 7.1this Section are personal to the Tenant and may not be assigned in connection with an assignment of this Lease, subletting of the Premises or otherwise, except for any Permitted Transferee (as hereinafter defined).
Appears in 1 contract
Premises. 2.1 Landlord leases to Tenant Tenant, and Tenant leases from Landlord upon Landlord, the terms Premises described in Section 1.6, which will consists of a Building described in Section 1.5 and conditions hereinafter set forth other improvements on the land (the “Land”) shown on the Site Plan attached hereto as Exhibit A (the Land, Building and other improvements are collectively referred to as the “Premises”). All corridors and restroom facilities located on each floor of Tenant agrees that the Premises shall be considered part deemed to include the number of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in Section 1.7 and in no event shall Tenant have the Basic Lease Information. Within thirty (30) days following such agreement right to challenge, demand, request or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount receive any change as a result of any deficiency claimed or excess, as the case may be, actual error or omission in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord reserves the right at any time and Tenant acknowledge that physical changes may occur from time to time to make alterations or additions to the Building or the Premises, and to demolish improvements on and to build additional improvements on the land surrounding the Building, in its sole discretion without the consent of Tenant and the same shall not be construed as a breach of this Lease provided the same does not have a material adverse effect on Tenant’s use of the Premises including but not limited to, any material blocking of the view of the Premises from adjacent streets and from the parking lot.
2.2 Landlord shall undertake certain renovations to the Building for the Tenant’s occupancy of the Premises (the “Tenant Improvements”) consistent with the approved plans and specifications for the Tenant Improvements attached hereto as Exhibit B and made a part hereof. Landlord shall provide an allowance for a portion of the Construction Costs of completion of the Tenant Improvements up to a maximum total charge of $63,030.00 (the “Tenant Improvement Allowance”). Tenant shall be responsible and shall pay to Landlord all Construction Costs of completion of the Tenant Improvements in excess of the Tenant Improvement Allowance within thirty (30) days of an invoice therefore from Landlord. “Construction Costs” shall mean all hard costs and soft costs of construction including all labor and materials, all engineering costs, the cost (including all governmental fees) of obtaining building permits and other permits and licenses, costs due to winter conditions, developer’s/general contractor’s fee (10% of total costs) and other costs paid or incurred by Landlord to permit and build the Tenant Improvements. If Landlord determines that the Tenant Improvements cannot be constructed in the Premises ordinary course of business on or Buildingbefore the Scheduled Occupancy Date, which may result then any resulting delay shall be considered a Tenant Delay. If Landlord fails to complete construction of the Tenant Improvements within sixty (60) days after the issuance of a building permit for the Tenant Improvements by the City of Novi because of a Landlord delay, then Tenant shall have the right to complete construction of the Tenant Improvements in an adjustment in accordance with the Tenant Improvement Plans and Specifications. In addition, if Landlord fails to complete all punch list items within thirty (30) days after Tenant’s Proportionate Sharetimely delivery of the punch list, as provided then Tenant shall have the right to complete construction of the punch list items. All material changes from the Tenant Improvement Plans and Specifications which Landlord determines may be necessary during construction shall be submitted to Tenant for Tenant’s approval or rejection. If Tenant fails to notify Landlord of Tenant’s approval or rejection of such changes within five (5) days of receipt thereof, Tenant shall be conclusively deemed to have approved such changes. Landlord shall construct the Tenant Improvements in Paragraph 7.1accordance with all applicable laws, rules or regulations of any governmental authority.
Appears in 1 contract
Premises. (a) Landlord leases to Tenant and Tenant leases from Landlord upon for the terms Term, the Premises, subject to the terms, covenants, agreements, and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of in this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architectLease. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage further set forth in the Basic Lease Information, the Premises shall be Suite 100/120 in the Building from the Commencement Date until the Suite 925 Commencement Date (as hereinafter defined) and Suite 925 in the Building from the Suite 925 Commencement Date through the end of the Term. Within thirty Upon Landlord’s request, Tenant hereby agrees to execute the Confirmation of Lease Terms, attached to this Lease as Exhibit D, to confirm the Commencement Date and Termination Date.
(30b) days following such agreement or resolutionDuring the Term of this Lease, Tenant shall pay have the right to use the number of Parking Spaces set forth in the Basic Lease Information at the prevailing rate for such spaces as determined by Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excessits parking operator, as the case may beapplicable, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in its sole discretion. Landlord, or its parking operator, as applicable, may change the Premises rental rate charged from time-to-time upon not less than thirty (30) days’ notice to Tenant. The right to use the Parking Space(s) under this Lease, shall terminate upon thirty (30) day’s notice from Landlord to Tenant if Landlord ceases or Buildingreduces parking operations. Tenant agrees that Landlord shall not be responsible in any way for any loss, which damage, theft or other damages arising out of the use of Landlord’s parking facilities, and Tenant waives any such claims. The use of the parking spaces shall be subject to such rules and regulations as Landlord or Landlord’s parking operator may result in an adjustment in establish from time to time. Landlord shall have no liability to Tenant for any damage to vehicles, theft of personal property or for personal injury with respect to Tenant’s Proportionate Shareuse of the Parking Spaces, as provided in Paragraph 7.1the parking lot is operated by an independent parking operator.
Appears in 1 contract
Samples: Office Lease (Asana, Inc.)
Premises. 1.1 Upon and subject to the terms, covenants and conditions hereinafter set forth, Landlord hereby leases to Tenant and Tenant leases hereby hires from Landlord upon those premises (herein called the terms “Premises”) located in the building (herein called the “Building”) and conditions hereinafter set forth on the Premises. All corridors floors specified in the Basic Lease Information attached hereto and restroom facilities located comprising the area substantially as shown on each the floor plan or plans attached hereto as Exhibit A. Commencing on the earlier of (i) one year after the Commencement Date or (ii) the date that Tenant commences its business operations therein, the Premises shall be considered part expanded to include the entire 8th Floor of 200 Oceangate, containing 16,575 rentable square feet, and at which time the Premises shall contain a total of 66,031 rentable square feet. Landlord shall deliver possession of the entire 8th Floor Premises to Tenant for the purpose of constructing its Tenant Improvements therein at least four (4) months prior to said one year anniversary of the Commencement Date, but Landlord may be delayed in delivering the 8th Floor by said date as a result of the occupancy by the current tenant and subtenants. To the extent Landlord is so delayed in delivering the entire 8th Floor Premises. The Premises , the time period in (i) above shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected extended by the rentable square footage number of the Premises. Until the rentable square footage days of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurementdelay; provided, however, that any such remeasurement based on a change in measurement standard only shall the event the entire 8th Floor Premises is not affect delivered within 420 days following the amount of Base Rent payable for the Premises or any allowance applicable Commencement Date, Tenant may elect, by written notice to Landlord prior to the initial Term based on the rentable square footage of the date said 8th Floor Premises are delivered, not to expand into said 8th Floor Premises. Landlord The term “Building” includes the entire complex consisting of two office buildings and Tenant acknowledge that physical changes may occur a parking garage currently known as the Arco Center and the land and improvements surrounding the complex and designated from time to time by Landlord as land or common areas appurtenant to the complex together with utilities, facilities, drives, walkways and other amenities appurtenant to or servicing the complex. Each office building is designated herein by its address of 200 Oceangate or 300 Oceangate.
1.2 As used in this Lease, the Premises or term “rentable area” shall be computed by Landlord in accordance with its modified standards of the Building Owners and Managers Association (BOMA). In all events, the rentable area of a floor shall be computed by measuring to the inside surface of the exterior glass building surface and no deductions shall be made for columns, projections, and penetrations necessary to the Building, which may result in . The rentable area of an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1office on a floor shall be computed by multiplying the usable area of the office by the quotient of the division of the rentable area of the floor by the usable area of the floor.
Appears in 1 contract
Samples: Office Lease (Molina Healthcare Inc)
Premises. Landlord hereby leases to Tenant the Postal Service and Tenant the Postal Service leases from Landlord Landlord, the following premises (the “Premises”) [located in a ] [consisting of the entirety of the ] having a street address of (the “Building”) situated upon the terms real property with an Assessor’s Parcel Number of and conditions hereinafter set forth legally described in Exhibit A attached hereto and by this reference incorporated herein (the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises“Property”). The Premises shall be part consists of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable approximately square feet of space. The Postal Service shall have the right to use any and all appurtenances and easements benefiting the Premises and the Property, including sidewalks, driveways, drive lanes, entrances, exits, access lanes, roadways, service areas, and parking areas, wherever located in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in Property, which the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at Postal Service deems necessary or appropriate to support its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage intended use of the Premises and amendingto exercise its rights under this Lease. Landlord shall not make any changes to the size, as necessarylocation, nature, use or place any installations upon the amount of Base Rent payable by Tenant, the amount sidewalks and parking areas of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by Property which impair the rentable square footage accessibility to or visibility of the Premises. Until the rentable square footage or ease of use of the Premises is agreed upon by the Postal Service and/or its customers, as reasonably determined by the Postal Service. Drop Down Option, Select if Applicable [At no expense to the Postal Service and/or its employees or customers, Landlord shall provide a minimum of parking spaces, sized for (i) passenger trucks, vans and cars and (ii) mail trucks of varying sizes, in reasonable proximity to the Premises, which shall be available at all times for Postal Service employees and customers. The number of parking spaces shall include sufficient parking spaces reserved for those with handicapped parking stickers to comply with law and Landlord shall provide any signage or striping required to indicate such reserved spaces. The location and sizes of the parking spaces are shown on the attached Exhibit B.] [At least of the parking spaces shall be reserved for the exclusive use of the Postal Service employees and customers and Landlord shall clearly identify through signage or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable spaces reserved for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1Postal Service use.]
Appears in 1 contract
Samples: Lease
Premises. Landlord leases does hereby rent and lease to Tenant and Tenant leases does hereby rent and lease from Landlord, the Premises located in the Building identified in the Basic Lease Provisions, situated on the real property described in Exhibit A attached hereto (the “Property”), such Premises as all further shown by diagonal lines on the drawing attached hereto as Exhibit A-1 and made a part hereof by reference. Landlord upon has determined the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor square footage of the Premises shall be considered part of using the PremisesBOMA 1996 standard. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises is approximately as set forth in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation Section 6.1 of the Summary. The rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on and the Building Plans (as defined in are subject to verification prior to the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery DateCommencement Date by Landlord or Tenant, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines and if such verification discloses that the rentable square footage of the Premises as constructed varies amounts shall be different from the those set forth in this Lease, all amounts, percentages and figures appearing or referred to in this Lease based upon such incorrect rentable square footage of the Premises as depicted on the Building Plansfeet (including, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenantwithout limitation, the amount of the Base Rent and Tenant’s Share) shall be modified in accordance with such determination. If such determination is made, it will be confirmed in writing by Landlord to Tenant. Tenant Improvement Allowancehas inspected the Premises and agrees to accept the same “AS IS,” without representation or warranty on the part of Landlord to perform any improvements therein, except as expressly set forth in Exhibit B attached hereto and made a part hereof, except that the foregoing will not affect Landlord’s maintenance and repair obligations hereunder and except that, as of the Commencement Date (as defined in Section 2(a), below), Landlord represents and warrants that the building systems serving the Premises, including the sprinkler system, HVAC system, mechanical, electrical and plumbing systems, and such other amounts roll-up doors, if any, shall be in good working order, and other terms hereof the roof shall be watertight and Landlord shall warrant these items for a period of ninety (90) days following Lease Commencement. Landlord shall replace and /or refurbish as needed the existing HVAC units prior to Lease Commencement at Landlords sole cost and expense. Landlord and Tenant agree that are affected the number of rentable square feet described in Paragraph 2 of the Basic Lease Provisions has been confirmed and conclusively agreed upon by the rentable square footage of parties. No easement for light, air or view is granted hereunder or included within or appurtenant to the Premises. Until Tenant shall have the rentable square footage non-exclusive right, in common with the other parties occupying the Property, to use all the grounds, sidewalks, parking areas, driveways and alleys of the Premises is agreed upon or otherwise resolved hereunderProperty, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty twenty-four (3024) hours per day seven (7) days following per week subject to such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, reasonable rules and regulations as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurementprescribe; provided, however, that Tenant shall have the exclusive use and control a portion of the parking and paved areas designated on Exhibit A-1 attached hereto (“Tenant’s Exclusive Parking Areas”) twenty-four (24) hours per day seven (7) days per week. Subject to any such remeasurement based on a change in measurement standard only applicable local, state or federal law, ordinance, rule, regulation, Code or order of any governmental entity or insurance requirement (collectively, “Laws”), Tenant may use the Tenant’s Exclusive Parking Areas for customer and employee parking of vehicles only. Tenant shall not affect the amount succeed to any of Base Rent payable for the Premises or any allowance applicable Landlord’s easement rights over and relating to the initial Term based on Property, nor shall Tenant obtain any rights to common areas, as designated by Landlord, other than those rights specifically granted to Tenant in this Lease. Landlord shall have the rentable square footage sole right of control over the use, maintenance, configuration, repair and improvement of the Premisescommon areas (the parties acknowledging that Tenant’s Exclusive Parking Areas shall not constitute part of the common areas hereunder). Landlord and Tenant acknowledge that physical may make such changes to the use or configuration of, or improvements comprising, the common areas as Landlord may occur from time elect without liability to time Tenant; provided, however, that, in the Premises or Buildingexercise of Landlord’s rights under the last two sentences of this Paragraph, which may result in an adjustment in Landlord shall use commercially reasonable efforts to minimize any interference with Tenant’s Proportionate Share, as provided business operations in Paragraph 7.1and from the Premises.
Appears in 1 contract
Samples: Industrial/R&d Lease Agreement (TNAV Holdings, Inc.)
Premises. 2.1 Landlord leases the Premises to Tenant and Tenant leases the Premises from Landlord for the term and upon the terms conditions and conditions hereinafter covenants set forth in this Lease. Tenant will have the Premises. All corridors non-exclusive right to use (a) the common and restroom facilities public areas of the Building and (b) subject to such requirements (other than the payment of any fee therefor) and limitations as Landlord, in its sole and absolute discretion, may impose, the telephone room located on each the twelfth (12th) floor of the Building. Except as may otherwise be expressly provided in this Lease, the lease of the Premises does not include the right to use the roof, mechanical rooms, electrical closets, janitorial closets, parking areas or other non-common or non-public areas of the Building.
2.2 The rentable area in the Building and in the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed determined by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises 's architect in accordance with the Building Owners and Managers Association International Standard Method for Measuring Floor Area in Office Buildings: Methods of Measurement and Calculating Rentable Area (, ANSI/BOMA Z65.1 – 2010Z65.1-1996. Landlord shall have the option, Method B)exercisable by written notice to Tenant at any time during the first one hundred eighty (180) days of the Term, as interpreted to have the rentable floor area of the Premises remeasured by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included 's architect in the calculation manner described above or any successor thereto irrespective of whether any option to expand or contract the Premises is exercised by Tenant. Upon such remeasurement by the Landlord's architect, Landlord may, at its option, give Tenant written notice of the rentable square feet floor area so determined, in which event the rentable area as thus remeasured shall be deemed to be the rentable floor area of the Premises for all purposes of this Lease, all Rent theretofore paid by Tenant to Landlord during the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but Term shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowanceretroactively adjusted, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent any deficiency shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within paid by Tenant to Landlord within thirty (30) days following such agreement or resolution, after Landlord's notice to Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on setting forth the rentable square footage floor area of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1.
Appears in 1 contract
Premises. Landlord leases 1.1 Subject to Tenant and Tenant leases from Landlord upon all of the terms and conditions hereinafter set forth forth, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises. All corridors The property shown on Exhibit A to this Lease and restroom facilities located all improvements thereon and appurtenances on that land thereto, including, but not limited to, the Building, other office buildings, access roadways, and all other related areas, shall be collectively hereinafter referred to as the “Project.” Tenant acknowledges and agrees that Landlord may elect to sell one or more of the buildings within the Project and that upon any such sale Tenant’s pro-rata share of those Operating Expenses and Taxes (each floor as defined below) allocated to the areas of the Project other than buildings may be adjusted accordingly by Landlord. Subject to (a) all of the terms and conditions of this Lease, including the Rules and Regulations attached hereto as Exhibit D, (b) emergency situations or other matters outside the reasonable control of Landlord, and (c) the requirements of applicable laws, Tenant shall have access to and use of the Premises 24 hours per day, 7 days per week, 365 days per year throughout the Lease term.
1.2 Upon the approval of the Space Plan for the Premises pursuant to Exhibit C. Landlord’s architect shall be considered part calculate and certify in writing to Landlord and Tenant the rentable area of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by If Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage area of the Premises as constructed varies from the rentable square footage of the Premises as depicted on or the Building Plansis different from that stated in this Lease, rent that is based on rentable area (including Tenant’s Share and the Tenant may deliver written results Improvement Allowance) shall be recalculated in accordance with that determination. On the recalculation of its measurement to Landlord. At such time rent as provided in this Section 1.2, the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant parties shall execute an amendment to this Lease memorializing stating the rentable square footage recalculated rent. Execution of that amendment shall not be a condition precedent to the effectiveness of the Premises recalculated rent. For purposes of this Lease, (1) “rentable area” and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent “usable area” shall be calculated on pursuant to the basis of the approximate Standard Method for Measuring Floor Area in Office Buildings (ANSI/BOMA Z65.1, 1996); (2) “rentable square footage set forth in feet” and “rentable footage” shall have the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, same meaning as the case may be, in term “rentable area;” and (3) “usable square feet” and “usable square footage” shall have the Base Rent previously paid. Landlord may from time to time remeasure same meaning as the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1term “usable area.”
Appears in 1 contract
Samples: Lease Agreement (Imperva Inc)
Premises. In consideration of the obligation of Tenant to pay rent as herein provided, and in consideration of the other terms, provisions and covenants hereof, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord upon the terms Premises for the Permitted Use. The Premises are comprised of the Net Rentable Area in the Building situated on the Land in the County of Durham, City of Durham, State of North Carolina, more particularly described on Exhibit A, attached hereto and conditions hereinafter set forth incorporated herein by reference, together with all rights, privileges, easements, appurtenances and immunities belonging to or in any way pertaining to the Premises. All corridors Except as provided herein (and restroom facilities located on each floor subject to latent defects not readily apparent through visual inspection and identified “punchlist” items, which Landlord shall repair within a reasonable amount of time), Tenant shall lease the Premises “as is” with no representations or warranties made by Landlord as to the condition of the Premises To the best of its knowledge, Landlord represents and warrants that as of this date, the Premises are in material compliance with all Applicable Laws, and are in good condition and repair subject to reasonable wear and tear. In addition, Landlord shall use all reasonable efforts to insure that as of the Commencement Date (modified as provided herein), the Premises will be considered in material compliance with all Applicable Laws and are in good condition and repair. To the best of Landlord's knowledge, Applicable Laws and any recorded restrictive covenants permit the Premises to be used for the Permitted Use. The Building is part of the Premises. The Premises shall be part Project and consists of the Building to be constructed by Landlord pursuant to the terms a total of this Lease Eighty-Five Thousand Six Hundred and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety Twenty-Two (9085,622) days after the Delivery Date, Landlord shall measure the rentable square feet with the Building being comprised of Fifty One Thousand Six Hundred Sixty-Seven (51,667) rentable square feet. Landlord hereby represents and warrants to Tenant that the foregoing representations regarding rentable square feet are consistent with the definition of rentable area calculated pursuant to Building Owners and Managers Association Standards. A floor plan of the Premises in accordance with is attached hereto and made a part hereof as Exhibit B. As an appurtenance to the Office Buildings: Methods of Measurement Premises, Tenant, its employees and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, invitees will have the Roof Top Area shall not be included in nonexclusive right to use the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for Common Areas at the Building. Within one hundred twenty (120) five business days after of the Delivery Commencement Date, Tenant maywill, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to upon demand of Landlord, at Tenant’s cost, in accordance with the method execute and deliver to Landlord a letter of measurement described in this Paragraph. If Tenant determines that the rentable square footage acceptance of delivery of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans(subject to latent defects not readily apparent through visual inspection and identified “punchlist” items, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, which Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the repair within a reasonable amount of Base Rent payable by Tenanttime), acknowledging the amount Commencement and Termination Dates of this Lease. Except for any items the cost of which is paid out of the Tenant Improvement Allowance, Landlord shall perform, at its sole cost and such other amounts and other terms hereof that are affected by the rentable square footage expense, all work detailed on Exhibit C hereto. The upfit of the Premises. Until the rentable square footage of , will be performed by Landlord in accordance with the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth Specifications in the Basic Lease Information. Within thirty (30) days following such agreement or resolutionWork Letter, Tenant shall pay if applicable attached hereto and made a part hereof Exhibit D. Subject to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, reasonable rules and regulations as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure prescribe and subject to rights of ingress and egress of other tenants of the Premises and/or Project, Tenant and its invitees will have the Building in accordance with generally accepted remeasurement standards selected by right to the non-exclusive usage of twenty (20) parking spaces. Landlord and adjust will not be responsible for enforcing Tenant’s Proportionate Share based on such remeasurement; providedparking rights against any third parties. Tenant is granted a non-exclusive right to use, howeverin common with the other tenants and users of the Project, all of the Common Areas. Landlord shall have exclusive control and management responsibility of the Common Areas. Landlord may, from time to time, alter the Common Areas, install kiosks, planters, fountains, sculptures, signs, and other structures within the Common Areas provided however that any such remeasurement based on a change in measurement standard only alterations shall not affect the amount materially and adversely interfere with Tenant’s use or enjoyment of Base Rent payable for the Premises or any allowance applicable decrease Tenant’s parking spaces. Landlord shall have the right to establish, modify, and enforce reasonable rules and regulations with respect to the initial Term based on Common Areas and to grant to individual tenants the rentable square footage right to conduct retail sales within the Common Areas. Landlord makes no representation or warranty concerning the size of the Common Areas and may, in the future, reduce the size of the Common Areas in its reasonable discretion, provided however that such reduction shall not materially and adversely interfere with Tenant’s use or enjoyment of the Premises. Landlord , and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may shall result in an adjustment a commensurate reduction in Tenant’s Proportionate Share. Landlord hereby grants to Tenant a continuing right of first refusal to lease vacant and available space in the Building (the “Additional Space”) under the terms and conditions as provided below:
(i) Subordinate to other tenants at the Project with pre-existing First Right of Refusal, and so long as there is no event of default by Tenant hereunder beyond any applicable grace and/or cure period, Landlord will notify Tenant when it has all or a portion of the Additional Space for lease to a third party (the “Third Party”) and the terms and conditions upon which it is willing to lease such space (“Landlord’s Notice”).
(ii) Tenant shall provide written notice to Landlord, as to Tenant’s decision to lease or not to lease the Additional Space within five (5) business days after Landlord’s Notice is received. If Tenant does provide to Landlord notice to lease the Additional Space, Landlord and Tenant will execute a lease amendment adding the Additional Space to the Premises within twenty (20) days after Landlord’s receipt of Tenant’s notice of intent to lease on all the same terms provided to the Third Party. If Tenant does not provide written notice to Landlord within five (5) business days after receipt of the Landlord's Notice, Tenant will have been deemed to have waived its right to lease the Additional Space and Landlord shall be free to enter into a lease with the Third Party. Should all or any portion of the Additional Space become vacant thereafter, Tenant shall again have the right of first refusal provided herein.
(iii) The rights provided to Tenant in Paragraph 7.1this Section are personal to the Tenant and may not be assigned in connection with an assignment of this Lease, subletting of the Premises or otherwise, except for any Permitted Transferee (as hereinafter defined).
Appears in 1 contract
Premises. Section 2.1 Leased Premises
(a) Landlord leases to Tenant and Tenant leases from Landlord upon is the terms and conditions hereinafter owner of the real estate consisting of a building located in the development designated in the Schedule. That portion of the Building consisting of the Leased Premises set forth in the PremisesSchedule and containing the area designated therein is crosshatched on the plan attached hereto as Exhibit A.
(b) With the consent of Landlord which shall not be unreasonably withheld, conditioned or delayed, Tenant may reduce the amount of its laboratory space (in Suite 150) by up to 5,000 square feet. All Any such area to be removed from the Leased Premises (the "Relinquished Space") shall be of such shape, condition and location, and with ingress and egress from existing corridors so that it shall present no unique impediment to leasing by Landlord to a third party ("Space Conditions"). Such area being relinquished by Tenant shall be returned to Landlord in clean condition, with building standard demising walls between the Leased Premises and restroom facilities located on each floor the Relinquished Space in place and with building systems servicing the Relinquished Space functioning. Upon such return of relinquished space to Landlord, the size of the Leased Premises shall be considered part reduced by the size of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety Relinquished Space (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises measured in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B)Standards, as interpreted by Landlord’s architect. As provided that term is hereinafter defined) and appropriate adjustments shall be made in Paragraph 40.7Base Rent, Tenant's Building Proportionate Share and Tenant's Project Proportionate Share, based on the Roof Top Area shall not be included reduction in the calculation Rentable Square Feet of the rentable square feet Leased Premises and the Relinquished Space. It shall be unreasonable for Landlord to withhold its consent to Tenant's relinquishment of the Premises Relinquished Space for purposes of any market reasons or other reasons related to Landlord's perceived inability to lease the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” Relinquished Space for all other purposes. Tenant acknowledges a rental that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably is acceptable to Landlord, at unless such inability results from Space Conditions or Tenant’s cost, in accordance with the method of measurement described in 's failure to satisfy its obligations under this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1Lease.
Appears in 1 contract
Samples: Lease Agreement (Stratagene Corp)
Premises. Effective as of the Commencement Date, Landlord leases to shall lease unto Tenant and Tenant leases shall lease from Landlord approximately One Hundred Twenty Six Thousand Two Hundred. Thirty One (126,231) rentable square feet (the "Premises"), consisting of the entire floor area of a building to be known as TransDulles Centre Building 14 (the "Building") the proposed footprint of which is shown on Exhibit A-I, together with the right to use all entranceways, parking areas and sidewalks serving the Building, which Building is located on a parcel of land known as Xxx 00X, XxxxxXxxxxx Xxxxxx (the "Property") as shown and described by metes and bounds in Exhibit A-2, within the office and warehouse park known as TransDulles Centre as shown on Exhibit A-3 (TransDulles Centre"), and that machinery and equipment installed in and upon the terms Premises by Landlord, together with all additions and conditions hereinafter set forth accessions thereto, substitutions therefor and replacements thereof permitted by this Lease (collectively, the Premises"Equipment"). All corridors and restroom facilities located on each floor The exact square footage of the Premises shall be considered part of determined by the Premises. The Premises shall be part architect responsible for the design of the Building to be constructed by Landlord pursuant to Shell (the terms of this Lease and part of "Designing Architect") promptly following the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Commencement Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method standard of measurement described in this ParagraphExhibit A-4. If Landlord shall promptly provide Tenant determines that with notice of the rentable square footage as so determined, accompanied by a summary of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected calculations prepared by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease InformationDesigning Architect ("Landlord's Area Determination Notice"). Within thirty (30) calendar days following such agreement or resolutionof the Landlord's Area Determination Notice, Tenant shall pay may issue to Landlord, or Landlord shall pay to Tenant, notice of Tenants determination of the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises ("Tenant's Area Determination Notice") as determined by an architect selected by Tenant ("Tenants Architect") in accordance with the standard of measurement described in Exhibit A-4, accompanied by a summary of the calculations prepared by Tenant's Architect. Should Tenant fail to timely issue Tenant's Area Determination Notice to Landlord, the area of the Premises as set forth in Landlord's Area Determination shall conclusively be deemed to be the rentable area of the Premises for all purposes. If Tenant timely issues to Landlord Tenant's Area Determination Notice, the Designing Architect and Tenant's Architect shall promptly confer and shall use their best efforts to agree upon the area of the Premises. Landlord If The Designing Architect and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1.'s Architect cannot reach agreement within
Appears in 1 contract
Samples: Deed of Lease (Homegrocer Com Inc)
Premises. Landlord leases the Premises to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to from Landlord, at Tenant’s costsubject to matters of record and matters referred to below, in accordance with the method all of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and which Tenant shall execute an amendment conform to. Subject to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may reasonable rules established from time to time remeasure by Landlord, Tenant shall also have appurtenant rights to use the roads, utilities and easements now or hereafter serving the Premises and/or in common with others to whom Landlord has granted or hereafter may grant rights (Landlord reserving the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur right from time to time in to grant and relocate easements, to alter and diminish the Premises or shape and size of the lot and to alter driveways, walkways, parking areas and utilities serving the Building, all of which may result in an adjustment in be done by Landlord so long as the same do not materially and adversely affect Tenant’s Proportionate Share, use of the Premises.) Tenant shall take ownership at no additional cost to Tenant of the existing Building furniture and equipment listed on Exhibit F attached (“Existing Building Furniture and Equipment”) which Landlord is making available to Tenant in its “as provided in Paragraph 7.1is” condition as of the Date of Lease and without any warranty or representation except that Landlord warrants that there are no outstanding liens or security interests on the Existing Building Furniture and Equipment. Such Existing Building Furniture and Equipment shall hereafter be Tenant’s personal property which shall be at the sole risk of Tenant and such Furniture shall be removed by Tenant at the end of the Term. (Equipment shall be left at the expiration of the term of this Lease.)
Appears in 1 contract
Premises. Landlord leases to Tenant Tenant, and Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included shown in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment drawing attached to this Lease memorializing as Exhibit “A” and by this reference incorporated herein, in the rentable square footage Building, which Building together with the underlying land, landscaping, plaza area, parking facilities and other improvements are referred to in this Lease as the “Project.” This Lease is subject to all of the Premises terms, covenants and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage conditions set forth in the Basic Lease InformationProvisions, the Standard Lease Provisions, and the Exhibits and/or addenda attached to this Lease. Within thirty The square footage of rentable area (30“Rentable Area”) days following such agreement of the Premises is subject to verification by Landlord’s architect or resolutionspace planner. The amount of the square footage of Rentable Area of the Premises shall be determined in accordance with the standard method of measuring floor area in office buildings established by the Building Owners and Managers Association (BOMA). Tenant may consult with Landlord’s architect or space planner concerning the determination, Tenant but the determination of Landlord’s architect or space planner shall pay to Landlord, or Landlord shall pay to Tenant, be conclusive and binding on the parties. If the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of Rentable Area shall differ from the Premisesapproximate amount set forth in the Basic Lease Provisions, then the Annual Basic and Monthly Basic Rent, Tenant’s Building Expense Percentage, Security Deposit and any other amounts and percentages appearing in this Lease which are based upon the square footage of Rentable Area of the Premises shall be proportionately adjusted. Once the square footage of Rentable Area has been determined, it will be confirmed between Landlord and Tenant acknowledge that physical changes may occur from time in a written amendment to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1this Lease.
Appears in 1 contract
Premises. (a) Landlord leases to Tenant and Tenant leases from Landlord upon Xxxxxxxx Xxxxx Xx. 000, which the terms parties stipulate and conditions hereinafter set forth agree is 3,406 rentable square feet as shown on the floor plan attached hereto as Exhibit “A” (“Premises. All corridors and restroom facilities ”), located on each floor of the Premises shall be considered at 000 X. Xxxxxxxxx Avenue, Radnor, Delaware County, PA 19087 (“Building”), which is a part of the Premisesproject located at Radnor Financial Center (“Project”). The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises has been measured in accordance with published BOMA (ANSI/BOMA Z65.i – 1996) standards and methodology.
(b) Landlord shall construct the Premises in substantial conformity with mutually agreed upon construction plans to be prepared by Xxxxx Associates (“Landlord’s Work”), the same of which shall be attached hereto, made a part hereof and marked as constructed varies from the Exhibit “B”. Landlord shall only be responsible for payment of a maximum cost of $25.00 per rentable square footage foot for the Landlord’s Work (the “Landlord Allowance”). All costs of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage ’s Work in excess of the Premises and amending, as necessary, the amount of Base Rent payable Landlord Allowance shall be borne by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on paid to Landlord upon the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within within thirty (30) days following of delivery of an invoice and reasonable documentation therefor. Should Landlord not use the full amount of the Landlord Allowance for Landlord’s Work, Tenant may use such agreement remainder for further improvements to the Premises or resolutionfor improvements to other space in the Building occupied by Tenant. Should this be the case, any excess Landlord Allowance shall be paid to Tenant within thirty (30) days of written request by Tenant, but not sooner than the Commencement Date, but in any event shall be requested within six (6) months of the Commencement Date or forfeited. The Tenant Allowance shall be reimbursed to Tenant upon submission to Landlord of reasonable paid invoices or a statement from Tenant that funds have been spent for preparing and/or renovating the Premises. Tenant shall have the right to select the general contractor used to perform the Landlord’s Work from a list of Landlord approved contractors. Xxxxxxx Construction is deemed to be an approved contractor of Landlord. Landlord’s Work constitutes an Alteration under Article 8. Landlord shall be required as part of Landlord’s Work to obtain all permits, approvals and certificates of occupancy for Tenant to operate in the Premises for its Permitted Use.
(c) By March 8, 2012, Tenant shall pay submit to Landlord for Landlord’s approval, working drawings and specifications (herein called “Plans”) for architectural, electrical, mechanical, sprinkler and plumbing work within the Premises and for all other Landlord’s Work proposed by Tenant. After receipt of the Plans, Landlord shall return to Tenant within ten (10) days, the Plans, marked either “approved”, “approved as noted” or “disapproved”. If they are marked “disapproved”, Landlord shall state the reasons for such disapproval and Tenant shall, or before fifteen (15) days after receipt of such “disapproved” Plans, correct any deficiencies stated by Landlord and acceptable to Tenant and resubmit within ten (10) days corrected Plans to Landlord, or . The final Plans shall be attached to this Lease as Exhibit “B”. Landlord shall pay to Tenant, covenants that the amount of any deficiency or excess, as the case may be, Landlord’s Work in the Base Rent previously paidPremises shall be constructed in such fashion as to comply with the notes disclosed on such Plans. Landlord may from time to time remeasure the Premises and/or the Building Landlord’s Work shall be performed only in accordance with generally accepted remeasurement standards selected the Plans, as marked “approved as noted” or “approved” by Landlord.
(d) Any work performed by Tenant with any excess Landlord Allowance (“Tenant’s Work”) shall be compliant with the following provisions:
(i) Tenant shall first obtain the reasonable approval of Landlord of the specific work it proposes to perform and shall furnish Landlord with reasonably detailed plans and specifications;
(ii) The Tenant’s Work shall be performed by responsible contractors and subcontractors who shall not prejudice Landlord’s relationship with Landlord’s contractors or subcontractors or the relationship between such contractors and their subcontractors or employees, or disturb harmonious labor relations, and who shall furnish in advance and maintain in effect workmen’s compensation insurance in accordance with statutory requirements and comprehensive public liability insurance (naming Landlord and adjust TenantLandlord’s Proportionate Share based on contractors and subcontractors as additional insureds) with limits satisfactory to Landlord;
(iii) No such remeasurement; provided, however, that work shall be performed in such manner or at such times as to cause any such remeasurement based on a change delay in measurement standard only shall not affect the amount of Base Rent payable for the Premises or connection with any allowance applicable to the initial Term based on the rentable square footage work being done by any of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time Landlord’s contractors or subcontractors in the Premises or Building, which may result in an adjustment in the Building generally;
(iv) All construction contracts for Tenant’s Proportionate ShareWork must include language holding the Landlord harmless from and against any and all claims arising from, as provided under or in Paragraph 7.1connection with such construction; and
(v) Tenant and its contractors and subcontractors shall be solely responsible for the transportation, safekeeping and storage of materials and equipment used in the performance of such work, for the removal of waste and debris resulting therefrom, and for any damage caused by them to any installations or work performed by Landlord’s contractors and subcontractors. Tenant’s Work shall be deemed to be an Alteration under Article 8 hereof.
Appears in 1 contract
Samples: Lease (Icg Group, Inc.)
Premises. A. Landlord leases does hereby lease to Tenant Tenant, and Tenant leases from Landlord upon Tenant, subject to the terms and conditions hereinafter set forth of this Lease, does hereby take from Landlord, those certain premises to be built by Landlord to accommodate Tenant, located at 0000 Xxxxxx Xxxx XX, Xxxxx 000 (+/-0000 square feet), county of Bernalillo, state of New Mexico, on the property more particularly described on Exhibit A hereto with non-exclusive right to use the onsite parking ("Parking Lot"), (collectively the Building and Parking Lot are referred to as the "Premises").
B. The lease is made with the understanding that in Year 2 of the School (SY20) “Premises” may expand to include the 6,672 square feet in Suite 102 just adjacent to Suite 101 for a total of +/-14,275 square feet if necessary to accommodate the enrollment of the School. Tenant shall notify landlord of intent to occupy Suite 102 at least six (6) months prior the expiration of Year 1 of the lease for Suite 101. The price per square foot of Suite 102 shall be the same as for Suite 101 plus the cost of improvements per square foot for Suite 102 amortized over five (5) years.
C. This lease is also made with the understanding that should Suite 103 be needed and available for expansion of the School as early as the 2020-2021 school year Landlord shall make available Suite 103 to the School.
D. Landlord shall cause to be built such improvements to Suite 101 as detailed by the plan drawings attached as Exhibit B to this Lease. The cost of these improvements shall be built into the lease rate and amortized over five (5) years. Should Tenant have the available and appropriate funds to do so and should the School choose to pay these improvements off sooner than the five (5) year amortization schedule the School shall be allowed to do so with no penalty.
E. As they become available, Landlord shall deliver to Tenant the specific legal description of the Premises, site plan, specifications and design of the Facilities, and a construction schedule for the Facilities (collectively, the "Plans and Specifications") for approval by the School's Governing Council. All corridors and restroom facilities located on each floor Upon approval by Xxxxxx, the specific legal description of the Premises shall be considered part attached to this Lease as an exhibit.
F. During the design and build of the Premises. The Premises shall be part Facilities and prior to approval by the Public School Facilities Authority, the Parties agree to meet on a regular basis and to use good faith efforts to seek consensus on issues related to construction of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises Facilities in accordance with the Office Buildings: Methods of Measurement Plans and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this ParagraphSpecifications. If Tenant determines that consensus is not reached after reasonable time for consultation, either Party can request mediation, and both Parties shall attend a mediation conference in good faith. If no resolution is reached after such mediation conference, either Party shall have the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to right terminate this Lease memorializing by written notice to the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within Party within thirty (30) days after the date of the mediation conference.
X. Xxxxxx shall use the Premises for the following such agreement purposes and for no other purposes whatsoever: operation of a public charter school or resolution, Tenant related general educational or office use. All of the foregoing shall pay be referred to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, herein as the case may be"Tenant’s Uses."
H. Neither Landlord nor any agents or employees of Landlord have made any representations or promises with respect to the Premises, except as expressly set forth herein and as set forth in all exhibits and attachments to this Lease and the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building documents delivered in accordance with generally accepted remeasurement standards selected the terms of this Lease, including without limitation, the Plans and Specifications, and no rights, privileges, easements or licenses are acquired by Landlord and adjust Tenant’s Proportionate Share based , except as expressly set forth herein. The taking of possession of the Premises by Tenant shall be evidence that the Premises were on such remeasurement; provideddate of possession in good, howeverclean and tenantable condition and that the Tenant accepts the Premises "As Is" except (i) as outlined by Xxxxxx at the time of such possession, that any such remeasurement based on a change (ii) as set forth in measurement standard only shall not affect the amount of Base Rent payable warranties provided by third parties for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord Facilities, and Tenant acknowledge that physical changes may occur from time to time (iii) for Landlord’s continuing maintenance and repair obligations expressly set forth in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1this Lease.
Appears in 1 contract
Samples: Lease Agreement
Premises. In consideration of the obligation of Tenant to pay rent as herein provided, and in consideration of the other terms, provisions and covenants hereof, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord upon the terms Premises for the Permitted Use. The Premises are comprised of the Net Rentable Area in the Building situated on the Land in the County of Durham, City of Durham, State of North Carolina, more particularly described on Exhibit A, attached hereto and conditions hereinafter set forth incorporated herein by reference, together with all rights, privileges, easements, appurtenances and immunities belonging to or in any way pertaining to the Premises. All corridors Except as provided herein (and restroom facilities located on each floor subject to latent defects not readily apparent through visual inspection and identified “punchlist” items, which Landlord shall repair within a reasonable amount of time), Tenant shall lease the Premises “as is” with no representations or warranties made by Landlord as to the condition of the Premises To the best of its knowledge, Landlord represents and warrants that as of this date, the Premises are in material compliance with all Applicable Laws, and are in good condition and repair subject to reasonable wear and tear. In addition, Landlord shall use all reasonable efforts to insure that as of the Commencement Date (modified as provided herein), the Premises will be considered in material compliance with all Applicable Laws and are in good condition and repair. To the best of Landlord's knowledge, Applicable Laws and any recorded restrictive covenants permit the Premises to be used for the Permitted Use. The Building is part of the Premises. The Premises shall be part Project and consists of the Building to be constructed by Landlord pursuant to the terms a total of this Lease Eighty-Five Thousand Six Hundred and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety Twenty-Two (9085,622) days after the Delivery Date, Landlord shall measure the rentable square feet with the Building being comprised of Fifty One Thousand Six Hundred Sixty-Seven (51,667) rentable square feet. Landlord hereby represents and warrants to Tenant that the foregoing representations regarding rentable square feet are consistent with the definition of rentable area calculated pursuant to Building Owners and Managers Association Standards. A floor plan of the Premises in accordance with is attached hereto and made a part hereof as Exhibit B. As an appurtenance to the Office Buildings: Methods of Measurement Premises, Tenant, its employees and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, invitees will have the Roof Top Area shall not be included in nonexclusive right to use the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for Common Areas at the Building. Within one hundred twenty (120) five business days after of the Delivery Commencement Date, Tenant maywill, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to upon demand of Landlord, at Tenant’s cost, in accordance with the method execute and deliver to Landlord a letter of measurement described in this Paragraph. If Tenant determines that the rentable square footage acceptance of delivery of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans(subject to latent defects not readily apparent through visual inspection and identified “punchlist” items, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, which Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the repair within a reasonable amount of Base Rent payable by Tenanttime), acknowledging the amount Commencement and Termination Dates of this Lease. Except for any items the cost of which is paid out of the Tenant Improvement Allowance, Landlord shall perform, at its sole cost and such other amounts and other terms hereof that are affected by the rentable square footage expense, all work detailed on Exhibit C hereto. The upfit of the Premises. Until the rentable square footage of , will be performed by Landlord in accordance with the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth Specifications in the Basic Lease Information. Within thirty (30) days following such agreement or resolutionWork Letter, Tenant shall pay if applicable attached hereto and made a part hereof Exhibit D. Subject to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, reasonable rules and regulations as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure prescribe and subject to rights of ingress and egress of other tenants of the Premises and/or Project, Tenant and its invitees will have the Building in accordance with generally accepted remeasurement standards selected by right to the non-exclusive usage of twenty (20) parking spaces. Landlord and adjust will not be responsible for enforcing Tenant’s Proportionate Share based on such remeasurement; providedparking rights against any third parties. Tenant is granted a non-exclusive right to use, howeverin common with the other tenants and users of the Project, all of the Common Areas. Landlord shall have exclusive control and management responsibility of the Common Areas. Landlord may, from time to time, alter the Common Areas, install kiosks, planters, fountains, sculptures, signs, and other structures within the Common Areas provided however that any such remeasurement based on a change in measurement standard only alterations shall not affect the amount materially and adversely interfere with Tenant’s use or enjoyment of Base Rent payable for the Premises or any allowance applicable decrease Tenant’s parking spaces. Landlord shall have the right to establish, modify, and enforce reasonable rules and regulations with respect to the initial Term based on Common Areas and to grant to individual tenants the rentable square footage right to conduct retail sales within the Common Areas. Landlord makes no representation or warranty concerning the size of the Common Areas and may, in the future, reduce the size of the Common Areas in its reasonable discretion, provided however that such reduction shall not materially and adversely interfere with Tenant’s use or enjoyment of the Premises. Landlord , and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may shall result in an adjustment a commensurate reduction in Tenant’s Proportionate Share. Landlord hereby grants to Tenant a continuing right of first refusal to lease vacant and available space in the Building (the “Additional Space”) under the terms and conditions as provided below:
(i) Subordinate to other tenants at the Project with pre-existing First Right of Refusal, and so long as there is no event of default by Tenant hereunder beyond any applicable grace and/or cure period, Landlord will notify Tenant when it has all or a portion of the Additional Space for lease to a third party (the “Third Party”) and the terms and conditions upon which it is willing to lease such space (“Landlord’s Notice”).
(ii) Tenant shall provide written notice to Landlord, as to Tenant’s decision to lease or not to lease the Additional Space within five (5) business days after Landlord’s Notice is received. If Tenant does provide to Landlord notice to lease the Additional Space, Landlord and Xxxxxx will execute a lease amendment adding the Additional Space to the Premises within twenty (20) days after Landlord’s receipt of Tenant’s notice of intent to lease on all the same terms provided to the Third Party. If Tenant does not provide written notice to Landlord within five (5) business days after receipt of the Landlord's Notice, Tenant will have been deemed to have waived its right to lease the Additional Space and Landlord shall be free to enter into a lease with the Third Party. Should all or any portion of the Additional Space become vacant thereafter, Tenant shall again have the right of first refusal provided herein.
(iii) The rights provided to Tenant in Paragraph 7.1this Section are personal to the Tenant and may not be assigned in connection with an assignment of this Lease, subletting of the Premises or otherwise, except for any Permitted Transferee (as hereinafter defined).
Appears in 1 contract
Premises. Landlord Landlord, in consideration of the rents to be paid and the covenants and agreements to be performed by Tenant as hereinafter set forth, hereby leases to Tenant Tenant, and Tenant hereby leases from Landlord Landlord, the Premises for the exclusive use of the Tenant in the Building for the Lease Term and upon the terms conditions and conditions agreements hereinafter set forth below. Landlord and Tenant stipulate that the Premises. All corridors and restroom facilities located on each floor estimated rentable square footages of the Premises and the Building, respectively, are as set forth in the Summary of Basic Lease Terms. This Lease shall be considered part constitute a binding agreement between the parties effective as of the Effective Date. In addition to the use of Premises. The Premises , Tenant shall be part have use of all of the hallways, entryways, stairs, elevators, driveways, parking areas, walkways, common kitchens, conference rooms, restrooms and all other areas in the Building or on the Land that are provided from time to time by Landlord for the general nonexclusive use by Tenant and other tenants of the Building (the “Common Area”). Tenant will have the ability to be constructed use additional amenities, on a non-exclusive basis, including certain common kitchens, bathrooms, conference rooms, and other amenities provided by the Landlord to Tenant from time to time pursuant to the terms of this Lease and (the “Amenities”), which Amenities are a part of the ProjectCommon Area and situated in certain areas designated by Landlord (the “Amenities Area”). Provisions regarding the remodeling or construction of Landlord’s Work within the Premises are set forth in the Work Letter. Except as set forth in the Work Letter or otherwise in this Lease, Landlord has no obligation for the completion of any finish work or remodeling of the Premises, other than being delivered freshly painted and in broom clean condition. Other than as and to set forth herein, Tenant shall accept the extent constructed by Landlord. On or before Premises on the date that is ninety (90) days after the Delivery DateCommencement Date in their “as is” condition, and, except as expressly set forth in this Lease, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in deemed to have made any representations or warranties with respect to the calculation of the rentable square feet suitability of the Premises for purposes of the payment of Base Rent Tenant's use, or the calculation of percentages or figures based on rentable square footage but otherwise, and shall be included in the term “Premises” for all have no other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) obligation for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage completion of the Premises. Until the rentable square footage By taking possession of the Premises is agreed upon or otherwise resolved hereunderPremises, Tenant’s monthly payments of Base Rent Tenant shall be calculated on deemed to have agreed that the basis same is in good order, repair, and condition. Notwithstanding the foregoing, Tenant may access the Premises prior to the Commencement Date for purposes of constructing and installing its improvements within the Laboratory Premises. Any such period of early occupancy shall be governed by all of the approximate rentable square footage terms and conditions of this Lease, except that Tenant shall have no obligation to pay rent except as set forth in the Basic Lease InformationParagraph 3. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.12.
Appears in 1 contract
Premises. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord upon Landlord, subject to and with the terms benefit of the terms, covenants, conditions and conditions hereinafter set forth provisions of this Lease, the Premises. All corridors and restroom facilities located on each floor of the Premises Tenant shall be considered part of have as appurtenant to the Premises. The Premises shall be part , rights to use in common, subject to reasonable rules of general applicability to tenants of the Building from time to be constructed time made by Landlord pursuant of which Tenant is given notice: (a) the common areas of the Building and (b) common walkways, parking lots and driveways necessary or appropriate for access to the terms Building, the areas described in (a) and (b) being shown on the plans attached hereto as Exhibit G. During the Term, Landlord shall provide parking to Tenant of this Lease not less than four (4) parking spaces per 1,000 rentable square feet on an unreserved basis at no additional charge to Tenant. Such spaces shall be located on the Land at One Xxxxx'x Xxxx. The parking spaces shall be available to Tenant (and part Xxxxxx's subtenants, employees and invitees) on a first-come, first-served basis. Landlord reserves the right to institute a tag or sticker system to monitor compliance by Tenant and others of use of the Project, as and to the extent constructed by Landlordparking spaces. On or before the date that is ninety Within thirty (9030) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Commencement Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s sole cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that measure the rentable square footage of the Premises in accordance with current BOMA standards. If Tenant disputes Landlord's measurement as constructed set forth in Section 1.1 above it shall notify Landlord in writing. If Landlord and Xxxxxx cannot thereafter agree on the measurement within ten (10) days after Xxxxxx's notice, then either party shall have the right to submit the issue to arbitration in accordance with the rules of the American Arbitration Association. If it is determined that the actual rentable square footage measured by BOMA standards varies from the rentable square footage determined by Landlord, then the Annual Fixed Rent (and any other provisions of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the this Lease based upon a specific rentable square footage is agreed upon or otherwise resolvedfootage) shall be retroactively adjusted at the applicable square foot rental figure determined by arbitration. In the event of any adjustment pursuant to this Section, Landlord and Tenant shall promptly execute an amendment to this Lease memorializing a written statement setting forth the recomputed rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1Annual Fixed Rent.
Appears in 1 contract
Samples: Lease (Lifeline Systems Inc)
Premises. Landlord leases to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed demised by Landlord pursuant to the terms of this Lease and part consist of that certain building (the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90“Building”) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth specified in the Basic Lease Information. Within thirty , which Building is located in that certain real estate development (30the “Project”) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, specified in the Base Rent previously paid. Landlord may from time to time remeasure Basic Lease Information, together with the Premises and/or parcel of land on which the Building is situated. The Building has the address and contains the square footage specified in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share based on such remeasurementthe Basic Lease Information; provided, however, that any such remeasurement statement of square footage set forth in this Lease, or that may have been used in calculating any of the economic terms hereof, is an approximation which Landlord and Tenant agree is reasonable and, no economic terms based thereon shall be subject to revision whether or not the actual square footage is more or less. The location of the Building is depicted on a change in measurement standard only Exhibit A, which is attached hereto and incorporated herein by this reference. The Premises include the parking area (“Parking Area”) adjacent to the Building as shown on Exhibit A. Tenant shall not affect have the amount non-exclusive right to use the Common Areas (as hereinafter defined). For purposes of Base Rent payable this Lease, the term “Common Areas” shall mean all areas and facilities, if any, outside the Premises and within the exterior boundary line of the Project that are, from time to time, provided and designated by Landlord for the non-exclusive use of Landlord, Tenant and other tenants of the Project and their respective employees, guests and invitees. The Premises shall be leased by Tenant in “as-is” condition without any improvements or alterations by Landlord, except to the extent Landlord has expressly agreed to make such improvements or alterations in the Tenant Improvement Work Letter attached hereto as Exhibit B. Landlord and Tenant agree to and shall be bound by the terms and conditions of Exhibit B. Provided Landlord does not materially, adversely affect Tenant’s use of the Premises, the Building or the Parking Area, or unreasonably interfere with Tenant’s use and quiet enjoyment of the Premises, Landlord has the right, in its sole discretion, from time to time, to: (a) make reasonable changes to the Building, the Premises and/or the Project, including, without limitation, changes in the exact configuration and/or location of ingress and egress; (b) close temporarily facilities or areas for maintenance purposes so long as reasonable access to the Building and Parking Area remains available; (c) use the Parking Area while engaged in making additional improvements, repairs or alterations to the Project or any allowance applicable portion thereof; and (d) do and perform any other acts that alter or expand or make any other changes in, to or with respect to the initial Term based on Building, the rentable square footage Premises and/or the Project as Landlord may, in its sole discretion, deem to be appropriate. Without limiting the foregoing, Landlord reserves the right from time to time to install, use, maintain, repair, relocate and replace pipes, ducts, conduits, wires, and appurtenant meters and equipment for service to the Premises which are above the ceiling surfaces, below the floor surfaces, within the walls and in the central core areas of the Building. In connection with any of the foregoing activities of Landlord, Landlord shall use reasonable efforts while conducting such activities to minimize any interference with Tenant’s use of the Premises. No rights to any view or to light or air over any property, whether belonging to Landlord or any other person, are granted to Tenant by this Lease. If at any time any windows of the Building are reasonably temporarily darkened or the light or view therefrom is obstructed by reason of any repairs, improvements, maintenance or cleaning in or about the Building, the same shall be without liability to Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises without any reduction or Building, which may result in an adjustment in diminution of Tenant’s Proportionate Share, as provided in Paragraph 7.1obligations under this Lease.
Appears in 1 contract
Samples: Warehouse/Industrial Lease Agreement
Premises. Landlord hereby leases the Premises to Tenant and Tenant leases from Landlord upon the terms and conditions hereinafter set forth the Premisescontained herein. All corridors and restroom facilities located on each floor The Premises consist of the Premises shall be considered part entirety of the Building together with vehicular parking spaces, pedestrian walkways and landscaping within the area outlined and depicted on Exhibit A-1 hereto. Tenant may not use any other portion of the Park other than the Premises. The Premises location, fencing and configuration of the area surrounding the Building shall be part subject to the approval of the Building to be constructed by Landlord pursuant to governmental agencies having jurisdiction thereof, and Tenant acknowledges and agrees that the terms of this Lease location and part configuration of the Project, as and to area surrounding the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises Building may be changed in accordance with the Office Buildings: Methods of Measurement governmental agencies' requirements. At Tenant's sole cost and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010expense, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, Tenant hereby covenants to construct and install around the Roof Top Area shall not be included in the calculation perimeter of the rentable square feet area surrounding the Building a fence reasonably acceptable to Landlord and all governmental entities having jurisdiction thereof. Tenant's and Tenant's Representatives' (hereafter defined) use and occupancy of the Premises fenced area surrounding the Building shall be exclusive only as to (i) the other tenants of the Park and (ii) the public in general but not including Landlord and its authorized representatives, employees, invitees, contractors and similarly affiliated parties for the purposes of fulfilling Landlord's obligations hereunder as well as for purposes of Landlord's exercise of its rights and remedies hereunder. Tenant shall use, maintain and repair the payment fenced area surrounding the Building subject to, and in accordance with, the terms and provisions of Base Rent or this Lease, including but not limited to, the calculation provisions of percentages or figures based on rentable square footage but Section 11 hereinbelow. In addition to the foregoing, Tenant shall be included solely responsible and liable for any and all security measures related to the fenced area surrounding the Building and the Premises and, subject to the provisions of Section 14 hereof, Landlord shall not in any manner or circumstance be liable nor responsible for any goods, personal property or similar items stored, kept and/or situated in, on or about the Premises at any time during the Term of this Lease. Nothing contained herein shall limit, impair or otherwise diminish Landlord's and its authorized representatives' rights and ability to enter the area surrounding the Building for purposes of performing Landlord's obligations under this Lease (if any) but such entry shall be subject to the provisions of Section 18 hereinbelow. Landlord and its representatives will use commercially reasonable efforts to minimize interference with the conduct of Tenant's business in the term “Premises” . Landlord and Tenant hereby agree that for all other purposes. Tenant acknowledges that it has had an opportunity to verify purposes of this Lease, as of the calculation of Lease Date, the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from the rentable square footage of the Premises as depicted on the Building Plans, Tenant may deliver written results of its measurement to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, Landlord and Tenant shall execute an amendment to this Lease memorializing the rentable square footage of the Premises and amending, as necessary, the amount Park shall be deemed to be the number of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premises. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage feet as set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay further agrees that the number of rentable square feet of the Park may subsequently change after the Lease Date commensurate with any modifications to any of the foregoing by Landlord, or Landlord and Tenant's Share shall pay to accordingly change. Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate 's Share based on such remeasurement; provided, however, that any such remeasurement based on a change in measurement standard only shall not affect change by reason of the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based on Tenant Improvements performed by Tenant so long as there is no increase in the rentable square footage of the Premises. Landlord perimeter of the Building; provided, for purposes hereof, the addition by Tenant of any interior mezzanine area and Tenant acknowledge that physical changes may occur from time to time outdoor storage areas shall not be construed as an increase in the Premises or rentable square footage of the Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1.
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Premises. Landlord leases does hereby lease to Tenant and Tenant leases from Landlord Tenant, upon the terms and conditions hereinafter set forth herein, the premises described in Section 1(d) and shown on Exhibit A attached hereto (the "Premises"), within the Building described in Section 1(e) and in Section 4(a) below and depicted on Exhibit B hereto (the "Building"), which Building shall be located at 000 Xxxxxxx Xxxxxx West, Seattle, Washington 98119 on the real property described as follows (the "Property"): Xxxx 0, 0, 0, 0, 0, xxx 0 xx Xxxxx 160 of Seattle Tide Lands, according to the official maps on file in the office of the Commission of public lands in Olympia, Washington. Except any portion thereof lying within the railroad right of way. Upon completion of the Tenant Improvements to the Premises. All corridors and restroom facilities located on each floor of the Premises shall be considered part of the Premises. The Premises shall be part of the Building to be constructed by Landlord pursuant to the terms of this Lease and part of the Project, as and to the extent constructed by Landlord. On or before the date that is ninety (90) days after the Delivery Date, Landlord shall measure the rentable square feet of the Premises in accordance with the Office Buildings: Methods of Measurement and Calculating Rentable Area (ANSI/BOMA Z65.1 – 2010, Method B), as interpreted by Landlord’s architect. As provided in Paragraph 40.7, the Roof Top Area shall not be included in the calculation of the rentable square feet of the Premises for purposes of the payment of Base Rent or the calculation of percentages or figures based on rentable square footage but shall be included in the term “Premises” for all other purposes. Tenant acknowledges that it has had an opportunity to verify the calculation of the rentable square footage of the area as depicted on the Building Plans (as defined in the Tenant Improvement Agreement ) for the Building. Within one hundred twenty (120) days after the Delivery Date, Tenant may, at its election, cause the Premises to be measured by Tenant’s Architect (as defined in the Tenant Improvement Agreement) or another licensed architect reasonably acceptable to Landlord, at Tenant’s cost, in accordance with the method of measurement described in this Paragraph. If Tenant determines that the rentable square footage of the Premises as constructed varies from to be measured by Landlord's architect using the rentable square footage of BOMA American National Standard Institute Publication, ANSI Z65.1-1996 Standards (the "Rentable Square Footage"), to determine the Building Rentable Area, which measurement shall govern with respect to the Premises as depicted on Area of Section 1(d). Tenant shall have the Building Plans, Tenant may deliver written results of its measurement right to Landlord. At such time as the rentable square footage is agreed upon or otherwise resolved, have a Washington-licensed surveyor approved by Landlord and jointly responsible to Landlord and Tenant shall execute an amendment to this Lease memorializing verify the rentable square footage Premises Rentable Square Footage determined by Landlord's Architect, if it does so within twenty (20) days after receipt of the Premises and amending, as necessary, the amount of Base Rent payable by Tenant, the amount of the Tenant Improvement Allowance, and such other amounts and other terms hereof that are affected by the rentable square footage of the Premisesnotice from Landlord's Architect. Until the rentable square footage of the Premises is agreed upon or otherwise resolved hereunder, Tenant’s monthly payments of Base Rent shall be calculated on the basis of the approximate rentable square footage set forth in the Basic Lease Information. Within thirty (30) days following such agreement or resolution, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as the case may be, in the Base Rent previously paid. Landlord may from time to time remeasure the Premises and/or the Building in accordance with generally accepted remeasurement standards selected by Landlord and adjust Tenant’s Proportionate Share If based on such remeasurement; providedverification Tenant disagrees with the Rentable Square Footage determined by Landlord's Architect it shall advise Landlord and its Architect of the deviation within ten (10) days thereafter or be deemed to have accepted Landlord's Architect's determination. If Tenant gives a timely notification of disagreement, howeverthen the parties shall jointly select a Washington-licensed surveyor or architect to review the calculations of Landlord's architect and the Tenant selected surveyor and make the determination of Premises Rentable Square Footage, that any such remeasurement based on a change in measurement standard only which determination shall not affect the amount of Base Rent payable for the Premises or any allowance applicable to the initial Term based be final and binding on the rentable square footage of the Premises. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises or Building, which may result in an adjustment in Tenant’s Proportionate Share, as provided in Paragraph 7.1parties.
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