Common use of Reduced Premises Clause in Contracts

Reduced Premises. Throughout the Term of this Lease, including renewals and extensions, Tenant agrees that Landlord shall have the right, upon Landlord’s giving Tenant not less than thirty (30) days prior written notice, to recapture a portion or portions of the Premises solely for the purpose of (a) installing additional elevator(s) in the Building, together with such space as may be required for lobbies and other common areas, (b) improving the Building Systems, or (c) constructing public corridors to create access to rentable space now existing or to be constructed in the future on the floor on which the Premises are located (any or all of the foregoing work, “Building Improvements”). The amount of such recaptured space which may be taken by Landlord pursuant to this Section 31.2 shall be limited to such space as is reasonably and actually required for the proper installation, access and operation of such Building Improvements, provided that if any portion of the Premises is reduced in area pursuant to this Section 31.2 to the extent that Tenant is unable to beneficially use and occupy the affected portion of the Premises following such reduction, as determined by Tenant in its reasonable judgment, then Tenant shall have the right to terminate this Lease as to the affected portion of the Premises only, by notice to Landlord given at any time from and after the date of such reduction in area. If Tenant shall duly give such notice, this Lease shall end and expire as to the affected portion of the Premises on the date which is ten (10) days following the giving of such notice, Fixed Rent and Additional Rent due hereunder with respect to such portion of the Premises shall be paid and apportioned to such date, and Landlord and Tenant, upon request of either party, shall enter into an amendment of this Lease ratifying and confirming such partial termination, and setting forth appropriate modifications, if any, to the terms and provisions hereof. Tenant shall provide Landlord with access to the Premises to perform the work to install and maintain the Building Improvements, including the right to take all necessary materials and equipment into the Premises, without the same constituting an eviction, and Tenant shall not be entitled to any abatement of rent while such work is in progress or any damages by reason of loss or interruption of business or otherwise. Landlord shall use reasonable efforts to minimize interference with Tenant’s access to and use and occupancy of the Premises in making any Building Improvements; provided, however, that Landlord shall have no obligation to employ contractors or labor at overtime or other premium pay rates or to incur any other overtime costs or additional expenses whatsoever. Promptly following the completion of any Building Improvements, Landlord shall make such repairs to and restoration of the Premises as may be reasonably required as a direct result thereof. Upon the date set forth for such recapture in Landlord’s notice described above, the Lease shall be deemed automatically amended by the deletion of such recaptured space from the Premises, Fixed Rent and Additional Rent shall be reduced in the proportion which the area of the part of the Premises so recaptured bears to the, total area of the Premises immediately prior thereto, and Tenant shall promptly vacate and surrender such portion of the Premises to Landlord, and except as otherwise specifically set forth in this Article 31, the terms and conditions of this Lease shall not be modified by reason of any such Building Improvements or the maintenance thereof.

Reduced Premises. Throughout Subject to the Term terms of this LeaseAmendment Xx. 0, including renewals and extensionsxxxxxxxxx Xxxxx 0, Tenant agrees that Landlord shall have 0000 (xxx scheduled “Surrender Date”), the right, upon Landlord’s giving Tenant not less than thirty (30) days prior written notice, to recapture a portion or portions size of the Leased Premises solely for will be reduced by 12,075+ square feet (the purpose “Relinquished Premises”), or from 41,075+ square feet to 29,000+ square feet of space (a“Retained Premises”) installing additional elevator(s) in (including Tenant’s Proportionate Share of the Common Area of the Building, together with such ). The remaining 29,000+ square feet of currently leased space as may be required for lobbies and other common areas, is shown in Red on Exhibit B attached hereto (b) improving the Building Systems, or (c) constructing public corridors to create access to rentable space now existing or to be constructed in the future on the floor on which the Premises are located (any or all of the foregoing work, “Building ImprovementsRemaining Square Footage”). The amount of such recaptured space which may be taken by Landlord pursuant to this Section 31.2 shall be limited to such space as is reasonably and actually required for the proper installation, access and operation of such Building Improvements, provided that if any portion Remaining Square Footage of the Premises is reduced more particularly shown within the area outlined in area pursuant Red on Exhibit A attached hereto. Tenant shall be responsible for relinquishing the Relinquished Space in the condition required under Lease Paragraphs 5 (“Acceptance and Surrender of Premises”), 6 (“Alterations and Additions”) and 45 (“Hazardous Materials”). As soon as possible following the full execution of this Amendment, Landlord and Tenant shall conduct a joint inspection of the Relinquished Premises to this Section 31.2 determine the extent of the work required by Tenant to comply with the provisions of said Lease Paragraphs 5 and 6 (“Restoration Work”) and Landlord shall obtain the required bid from its contractors to complete said Restoration Work. In lieu of Tenant completing the required Restoration Work, Tenant agrees (i) to pay to Landlord a fee equal to the extent that Tenant is unable to beneficially use and occupy total estimates received from Landlord’s contractors for the affected portion of the Premises following such reduction, as determined by Tenant in its reasonable judgment, then Tenant shall have the right to terminate this Lease as to the affected portion of the Premises only, by notice to Landlord given at any time from and after the date of such reduction in area. If Tenant shall duly give such notice, this Lease shall end and expire as to the affected portion of the Premises on the date which is Restoration Work (“Restoration Fee”) within ten (10) days following after Tenant receives Landlord’s statement of said Restoration Fee Notwithstanding the giving of such noticeabove, Fixed Rent Tenant’s obligations as stated in Lease Paragraphs 9 (“Taxes”), 13 (“Indemnification”), 14 (“Compliance”) and Additional Rent due hereunder with respect to such portion 45 (“Hazardous Materials”) shall survive the Surrender Date of the Premises shall be paid and apportioned to such date, and Landlord and Tenant, upon request of either party, shall enter into an amendment of this Lease ratifying and confirming such partial termination, and setting forth appropriate modifications, if any, to the terms and provisions hereof. Tenant shall provide Landlord with access to the Premises to perform the work to install and maintain the Building Improvements, including the right to take all necessary materials and equipment into the Relinquished Premises, without the same constituting an eviction, and Tenant shall not be entitled to any abatement of rent while such work is in progress or any damages by reason of loss or interruption of business or otherwise. Landlord shall use reasonable efforts to minimize interference with Tenant’s access to and use and occupancy of the Premises in making any Building Improvements; provided, however, that Landlord shall have no obligation to employ contractors or labor at overtime or other premium pay rates or to incur any other overtime costs or additional expenses whatsoever. Promptly following the completion of any Building Improvements, Landlord shall make such repairs to and restoration of the Premises as may be reasonably required as a direct result thereof. Upon the date set forth for such recapture in Landlord’s notice described above, the Lease shall be deemed automatically amended by the deletion of such recaptured space from the Premises, Fixed Rent and Additional Rent shall be reduced in the proportion which the area of the part of the Premises so recaptured bears to the, total area of the Premises immediately prior thereto, and Tenant shall promptly vacate and surrender such portion of the Premises to Landlord, and except as otherwise specifically set forth in this Article 31, the terms and conditions of this Lease shall not be modified by reason of any such Building Improvements or the maintenance thereof.

Reduced Premises. Throughout the Term of this LeaseTerm, including renewals and extensions, Tenant agrees that Landlord shall have the right, upon Landlord’s 's giving Tenant not less than thirty (30) days prior written notice, to recapture a portion or portions of the Premises solely for the purpose of (a) installing additional elevator(s) in the Building, together with such space as may be required for lobbies and other common areas, (b) improving the Building Systems, or (c) constructing public corridors to create access to rentable space now existing or to be constructed in the future on the floor floor(s) on which the Premises are located (any or all of the foregoing work, “"Building Improvements”"). The amount of such recaptured space which may be taken by Landlord pursuant to this Section 31.2 Article 29 shall be limited to the areas shown on Exhibit J to this Lease (which Landlord and Tenant hereby deem and agree consists of 1,800 Rentable Square Feet of space), and within such areas, such space as is reasonably and actually required for the proper installation, access and operation of such Building Improvements, provided that if any portion of the Premises is reduced in area pursuant to this Section 31.2 to the extent that Tenant is unable to beneficially use and occupy the affected portion of the Premises following such reduction, as determined by Tenant in its reasonable judgment, then Tenant shall have the right to terminate this Lease as to the affected portion of the Premises only, by notice to Landlord given at any time from and after the date of such reduction in area. If Tenant shall duly give such notice, this Lease shall end and expire as to the affected portion of the Premises on the date which is ten (10) days following the giving of such notice, Fixed Rent and Additional Rent due hereunder with respect to such portion of the Premises shall be paid and apportioned to such date, and Landlord and Tenant, upon request of either party, shall enter into an amendment of this Lease ratifying and confirming such partial termination, and setting forth appropriate modifications, if any, to the terms and provisions hereof. Tenant shall provide Landlord with access to the Premises to perform the work to install and maintain the Building Improvements, including the right to take all necessary materials and equipment into the Premises, without the same constituting an eviction, and Tenant shall not be entitled to any abatement of rent while such work is in progress or any damages by reason of loss or interruption of business or otherwise. Landlord shall use reasonable efforts to minimize interference with Tenant’s 's access to and use and occupancy of the Premises in making any Building Improvements; provided, however, that Landlord shall have no obligation to employ contractors or labor at overtime or other premium pay rates or to incur any other overtime costs or additional expenses whatsoever, unless reimbursed by Tenant therefor within ten (10) days after demand. Promptly following the completion of any Building Improvements, Landlord shall at Landlord's expense make such repairs to and restoration of the Premises and reasonable access thereto (including installation of demising walls) as may be reasonably required as a direct result thereof. Upon the earlier of (i) the date set forth for such recapture in Landlord’s 's notice described above, or (ii) the date on which Landlord's work in the space to be recaptured renders such space unusable by Tenant for the ordinary conduct of its business therein, the Lease shall be deemed automatically amended by the deletion of such recaptured space from the Premises, Fixed Rent and Additional Rent shall be reduced in the proportion which the area of the part of the Premises so recaptured bears to the, the total area of the Premises immediately prior thereto, and Tenant shall promptly vacate and surrender such portion of the Premises to Landlord, and except Landlord shall pay Tenant an amount equal to (i) Tenant's actual out-of-pocket costs in performing any Tenant's Alterations made to such recaptured space, minus (ii) the amount of Landlord's Contribution applied to the performance of such Tenant's Alterations, amortized on a straight-line basis over a ten-year period (measured from the date of substantial completion of the Alteration in question). Except as otherwise specifically set forth in this Article 3129, the terms and conditions of this Lease shall not be modified by reason of any such recapture of space, Building Improvements or the maintenance thereof.

Reduced Premises. Throughout the Term of this Lease, including renewals and extensions, Tenant agrees that Landlord shall have the right, upon Landlord’s giving Tenant not less than thirty (30) days prior written notice, to recapture a portion or portions of the Premises solely for the purpose of (a) installing additional elevator(selevators) in the Building, together with such space as may be required for lobbies and other common areas, (b) improving the Building Systems, or (c) constructing public corridors to create access to rentable space now existing or to be constructed in the future on the floor on which the Premises are located (any or all of the foregoing work, “Building Improvements”). The amount of such recaptured space which may be taken by Landlord pursuant to this Section 31.2 Article 29 shall be limited to such space as is reasonably and actually required for the proper installation, access and operation of such Building Improvements, provided that if any portion of the Premises is reduced in area pursuant to this Section 31.2 to the extent that Tenant is unable to beneficially use and occupy the affected portion of the Premises following such reduction, as determined by Tenant in its reasonable judgment, then Tenant shall have the right to terminate this Lease as to the affected portion of the Premises only, by notice to Landlord given at any time from and after the date of such reduction in area. If Tenant shall duly give such notice, this Lease shall end and expire as to the affected portion of the Premises on the date which is ten (10) days following the giving of such notice, Fixed Rent and Additional Rent due hereunder with respect to such portion of the Premises shall be paid and apportioned to such date, and Landlord and Tenant, upon request of either party, shall enter into an amendment of this Lease ratifying and confirming such partial termination, and setting forth appropriate modifications, if any, to the terms and provisions hereof. Tenant shall provide Landlord with access to the Premises to perform the work to install and maintain the Building Improvements, including the right to take all necessary materials and equipment into the Premises, without the same constituting an eviction, and Tenant shall not be entitled to any abatement of rent while such work is in progress or any damages by reason of loss or interruption of business or otherwise. Landlord shall use reasonable efforts to minimize interference with Tenant’s access to and use and occupancy of the Premises in making any Building Improvements; provided, however, that Landlord shall have no obligation to employ contractors or labor at overtime or other premium pay rates or to incur any other overtime costs or additional expenses whatsoever. Promptly following the completion of any Building Improvements, Landlord shall make such repairs to and restoration of the Premises as may be reasonably required as a direct result thereof. Upon the date set forth for such recapture in Landlord’s notice described above, the Lease shall be deemed automatically amended by the deletion of such recaptured space from the Premises, Fixed Rent and Additional Rent shall be reduced in the proportion which the area of the part of the Premises so recaptured bears to the, the total area of the Premises immediately prior thereto, and Tenant shall promptly vacate and surrender such portion of the Premises to Landlord, and except as otherwise specifically set forth in this Article 3129, the terms and conditions of this Lease shall not be modified by reason of any such Building Improvements or the maintenance thereof.