Reduction of Premises. Tenant shall on the date that the Surrender Condition (as defined below) is fully satisfied (the “Surrender Date”) surrender the first floor portion of the Premises containing approximately 7,848 rentable square feet (the “Surrender Space”) to Landlord and immediately thereafter (i) the Lease will be deemed terminated with respect to the Surrender Space, (ii) the Premises shall be deemed reduced by the removal of the Surrender Space resulting in a reduction of the rentable square footage of the Premises from approximately 29,995 rentable square feet on the first (1st) and third (3rd) floors of the Building to approximately 22,147 rentable square feet on the third (3rd) floor of the Building, as shown on Exhibit A-2 attached hereto and incorporated herein, and (iii) the “Premises” as defined in the Lease shall no longer be deemed to include the Surrender Space. Landlord acknowledges and agrees that it has inspected the Surrender Space and that Landlord will accept the Surrender Space in “AS-IS” condition notwithstanding any term or condition of the Lease to the contrary, and in no event shall Tenant be responsible for delivering possession of the Surrender Space free of the occupancy Exagrid Systems Inc. (“Exagrid”) . Landlord and Tenant acknowledge that the Surrender Space is currently subject to a Sublease between Tenant and Exagrid (the “Sublease”). Tenant’s obligations under this Section 2 are subject to Tenant entering into a written termination of the Sublease with Exagrid and Tenant vacating the Surrender Space (the” Surrender Condition”). In the event the Surrender Condition is not satisfied on or before March 31, 2010, Tenant shall remain responsible for Basic Rent, Additional Rent and other costs, expenses and charges due under the Lease (without regard to modification to Basic Rent provided in this Amendment) with respect to the Surrender Space until the earlier of the date (i) Surrender Condition is satisfied, or (ii) the date the Term would have expired without regard to any extension undertaken pursuant to this Amendment.
Reduction of Premises. 1. Upon Xxxxxx’s delivery of an Adjustment Notice to Lessee for a reduction of Premises, Lessor may at Lessor’s sole discretion adjust the Premises by removing Residential Units in the Premises, subject to the requirements of this Section 2.8.
Reduction of Premises. Tenant shall have the right to reduce the Premises by up to twenty percent (20%) of the rentable square footage thereof, provided that such reduced s Reduction of Premises. Tenant shall have the right to reduce the Premises by up to twenty percent (20%) of the rentable square footage thereof, provided that such reduced space is comprised of contiguous areas (by floor) of the office and/or broadcast space, and is demisable into the leasable configuration, but in no event shall such reduced space include the studio space on the fifth (5th) floor of the Building.
Reduction of Premises. The Premises are hereby amended and reduced to be 10,000 xxxxxx xxxx xx Xxxxxx Xxxx (xxxxxxxxx xxxxxxx/xxxxxx xxxx) (5,726 square feet on the main floor of the Building, 5,700 square feet on the second floor of the Building, and 263 square feet of kitchen/buffet space in the Building) and approximately 13,993 square feet of Production Area (the Premises, as amended, the “New Premises,” and the portion of the Premises not included in the New Premises, the “Vacated Premises”). The Premises, as amended by this Amendment, are as shown on exhibit A with any ambiguities determined by the Landlord’s architect. The Tenant shall promptly vacate the Vacated Premises. The Tenant shall leave the Vacated Premises in a condition consistent with the vacating obligations of the Tenant at the end of the lease term pursuant to the Lease. Until the earlier to occur of (a) January 1, 2020, and (b) the date a new tenant takes possession of the Vacated Premises, the Tenant remains responsible for the full Building on the terms of the Lease. The Landlord is not entitled to relocate the Tenant to other space within the Building. The Tenant’s right to signage, parking, and other tenant rights that are typically allocated among tenants in a single building will be reduced by 50% so the signage, parking, and other tenant rights can be shared with a future tenant of the Vacated Premises.
Reduction of Premises. Commencing on the Effective Date of this Fifth Amendment the Premises shall be reduced by the subtraction therefrom of approximately 6,105 rentable square feet of space known as Suite 300 in the Building (“Suite 300”) for all purposes under the Lease. All references in the Lease to the “Premises” shall refer to Premises as so reduced by the subtraction of Suite 300 from and after the Effective Date. From and after the Effective Date, Suite 300 shall have no part in calculations regarding Term, Base Rent, and Tenant’s Share of increases in Operating Expenses and Taxes; provided, that Tenant shall pay all Additional Rent attributable to Suite 300 that had accrued in calendar year 2017 prior to the Effective Date of this Fifth Amendment when such Additional Rent becomes due and payable under the Lease.
Reduction of Premises. Notwithstanding anything to the contrary in the Lease, the parties agree that, provided that Tenant is not then in default beyond any applicable notice and cure periods, the Lease and Tenant’s obligations thereunder (including the payment of rent) shall terminate with respect to the 101 Main Premises effective as of the date of Tenant’s delivery of the 101 Main Premises to Landlord as hereinafter set forth (the “Reduction Date”), in the same manner and with the same effect as if that date had been originally fixed in the Lease for the expiration of the term, conditioned on the performance by the parties of the provisions of this Amendment. Tenant shall in any event deliver possession not later than September 1, 2016. Tenant shall deliver the 101 Main Premises in the condition required pursuant to the Lease, in “broom-clean” condition with all furniture and equipment removed therefrom; provided, however, that Tenant shall not be obligated to remove wiring/cabling which is within walls, floors or ceilings or any HVAC equipment specifically dedicated to Tenant’s use (if any). Tenant’s failure to deliver the 101 Main Premises to Landlord in the required condition on or before September 1, 2016 shall be treated as a holdover tenancy pursuant to the Lease.
Reduction of Premises. (a) Upon the satisfaction of the applicable terms and conditions set forth in this Seventh Amendment, effective as of 12:00 a.m. on November 1, 2023 (the “Surrender Date”), (i) the Premises shall no longer include that portion of the Premises consisting of approximately 13,700 rentable square feet within the Building (such surrendered portion is collectively defined as the “Surrendered Space”), and (ii) the Premises shall include only the Premises less the Surrendered Space, which remaining Premises comprises of approximately 16,300 rentable square feet of space (the “Remaining Premises”) and is generally depicted on Exhibit “A” attached hereto. Accordingly, on the Surrender Date, all references in the Lease to “
Reduction of Premises. Effective as of the Partial Surrender Effective Date (as defined below), the Existing Premises shall be modified to exclude that certain portion containing approximately three thousand nine hundred eighty-six (3,986) square feet of Rentable Area located on the first (1st) floor of the Building (as more particularly described on Exhibit B attached hereto, the “Surrender Premises”). From and after the Partial Surrender Effective Date, the term BioMed Realty form dated 9/28/17
Reduction of Premises. Provided no Event of Default shall have occurred and is continuing, and provided Tenant has not previously exercised its Termination Option pursuant to the terms and conditions of Section 2.04 above, Tenant shall have the following options (the "Reduction Options") to reduce certain portions of the Rentable Square Feet In The Premises and eliminate same from the Lease, in accordance with the terms and conditions of this Section 2.05, effective as of the third monthly anniversary of the Term Commencement Date (herein the "Third Anniversary"), the sixth monthly anniversary of the Term Commencement Date (herein the "Sixth Anniversary") and the ninth monthly anniversary of the Term Commencement Date (herein the "Ninth Anniversary"), provided Tenant gives written notice to Landlord of the exercise thereof (herein the "Reduction Notice") not later than thirty (30) days prior to the respective Third Anniversary, Sixth Anniversary or Ninth Anniversary, as the case may be. The Reduction Notice shall include a floor plan detailing the portion of the Premises to be reduced from the Rentable Square Feet In The Premises and released from the Lease (herein the
Reduction of Premises. Effective as of the earlier to occur of (a) the date on which Tenant completes Vacation (defined in Section 3 hereof) or (b) January 31, 2007 (the “Effective Date”), the Premises shall be permanently reduced by the elimination therefrom of the P-2 Space, and the Lease is amended to define the term “Premises” to mean solely the 22,651 Rentable Square Feet comprising the entire rentable area of the 30th floor of the Building.
