Reduction Space. Tenant agrees throughout the Term to cooperate to a commercially reasonable extent with the Landlord, at Landlord’s request, to consolidate and reduce the size of the Premises in order to permit the Landlord to utilize the maximum amount of space at the Project for its own projects and development or third party leases, so long as such consolidation and reduction does not in Tenant’s judgment interfere with the business operations of the Tenant (the “Reduction”). In the event of a Reduction, the Base Rent shall not be reduced and Tenant’s Proportionate Share of Operating Expenses and Taxes shall be reduced proportionately. Additionally, in the event that Tenant requests to eliminate or reduce the size of its Premises during the Term, (i) Tenant shall provide Landlord with at least ninety (90) days prior written notice of such request with a description of the proposed reduction space (the “Reduction Space”), (ii) Landlord shall have the right to approve the Reduction Space, which such Reduction Space shall be subject to Landlord’s written approval, which Landlord shall not unreasonably withhold provided that the Reduction Space is not irregular in shape, allows safe or otherwise appropriate means of ingress and egress and complies with all Legal Requirements and (iii) if Landlord approves such Reduction Space, then the Base Rent and Tenant’s Proportionate Share of Operating Expenses and Taxes shall be reduced proportionately by the size of the Reduction Space.
Reduction Space. Tenant may exercise its Reduction Options with respect to any or all of the Reduction Space in any instance, and may exercise such options any number of times during the applicable periods. The size, configuration and location of the portions of the Reduction Space, if any, surrendered by Tenant shall be determined by Tenant in its sole discretion at the time of an exercise of the subject Reduction Option. Without limitation to the foregoing, the Reduction Space surrendered by Tenant may include any space on a number of Floors of the Premises, whether or not contiguous, provided that (a) to the extent Tenant occupies the entire Rentable Area on a particular Floor (other than Floors Two (2), Three (3) or any Mechanical Floor), and Tenant elects to surrender space on such Floor, then -49- Tenant shall surrender all of the Rentable Area on such Floor, and (b) to the extent (i) Tenant occupies space on Floors Two (2) or Three (3), (ii) Tenant occupies less than the entire Rentable Area on a particular Floor, or (iii) the amount of Rentable Area of Reduction Space remaining available under either the First Reduction Option or the Second Reduction Option is less than the entire Rentable Area on a particular Floor, Tenant may exercise the subject Reduction Option, if at all, as to all or any portion of the then-existing Premises then-located on such Floor, provided that the space not leased by Tenant on any such partial Floor shall be capable of being configured so as to make the same reasonably leasable.
Reduction Space. 49 10.3 Exercise...........................................................................50 10.4 Unamortized Costs of Tenant Work...................................................50 10.5 Surrender..........................................................................50 10.6 Relation to First Offer Rights.....................................................51 10.7 Lease Amendment....................................................................51 10.8 Transfer...........................................................................51
Reduction Space. Tenant agrees to remove from the Original Premises Eight Thousand, One Hundred Thirty (8,130) rentable square feet of space as depicted on Exhibit A attached hereto (“Give Back Premises”) as of estimated July 1, 2020 (the “Reduction Date”). From and after the Reduction Date, the term “Premises” and/or Reduction Space shall mean and refer to the remaining Five Thousand, Seven Hundred Ten (5,710) rentable square feet of space. The Reduction Space will commence the same day the new lease commences for Infinity Labs SD, Inc.
Reduction Space. Effective on the earlier to occur of (i) February 28, 2000 or (ii) the date set forth in a notice from Landlord that Landlord has leased the Reduction Space (as hereinafter defined) to a third party (the "Effective Date"), Tenant shall relinquish and Landlord shall take back approximately 3,277 square feet of the Premises located on the fifteenth (15th) floor of the Building as shown on Exhibit "A" attached hereto and by this reference made a part hereof (the "Reduction Space"). As of the Effective Date, the total rentable square feet of space leased pursuant to the Lease shall be decreased to 25,216 rentable square feet which consists of the entire tenth (10th) floor of the Building, subject to the following terms and conditions:
Reduction Space. Effective as of April 30, 2003 (the "Effective Date"), Tenant shall relinquish and surrender to Landlord and, subject to satisfaction of the requirements set forth below, Landlord shall take back and accept from Tenant approximately 10,049 rentable square feet of the Premises as shown on Exhibit "A" attached hereto and by this reference made a part hereof (the "Reduction Space"). Should all of the foregoing conditions be met as of the Effective Date, the total rentable square feet of space leased pursuant to the Lease shall be decreased to 15,418 rentable square feet as of such date, and the Premises shall be 15,418 rentable square feet being Suite 1000. Tenant shall surrender the Reduction Space in the condition required under Section 8 of the Lease. The parties agree that the remaining balance of the tenant improvement allowance due from Landlord to Tenant is $92,508.00 (based on $6.00 per rentable square foot multiplied by 15,418 rentable square feet).
Reduction Space. The term “Reduction Space” shall mean that portion of the Premises, agreed to contain 61,252 Rentable Square Feet, comprising (a) the entire rentable areas of the 28th and 29th floors of the Building and (b) 16,284 Rentable Square Feet on the 27th floor.
Reduction Space. From and after the date immediately following the Reduction Space Expiration Date, Tenant shall no longer have any right to use the parking spaces described in the second and third sentences of Section 1 of Exhibit E to the Lease (consisting of (a) two (2) parking spaces in the reserved covered portion of the Parking Structure, (b) four (4) parking spaces in the unreserved covered portion of the Parking Structure, and (c) two (2) parking spaces in the unreserved, rooftop, uncovered portion of the Parking Structure).
Reduction Space. Each such Reduction Right shall pertain to one-half (1/2) contiguous full floor increments of space in Building C, starting with the lowest floor then leased by Tenant in Building C, except that: (i) the first (1st) Reduction Right shall pertain to either one-half (1/2) of a full floor or a full floor, as elected by Tenant; (ii) if Tenant does not exercise a Reduction Right for any particular one-year period, the amount of space which Tenant may elect to reduce pursuant to Tenant's next applicable Reduction Right shall include, at Tenant's election, an additional one-half (1/2) contiguous floor increment of space (provided, however, in no event may Tenant elect to reduce the Premises in any one-year period by more than one (1) contiguous full floor); and (iii) in no event shall the total cumulative space which Tenant may reduce in Building C pursuant to the exercise of all of Tenant's Reduction Rights under this Section 1.7 exceed two and one-half (1/2) floors. In addition, if at any time Tenant exercises a Reduction Right with respect to one-half (1/2) of a particular floor in Building C, the next time Tenant elects to exercise a Reduction Right, Tenant must include in the exercise of such right the remaining one-half (1/2) of the space on such floor. The applicable space for which Tenant has elected to exercise any Reduction Right shall be referred to herein as the "REDUCTION SPACE".
Reduction Space. The parties hereby agree that effective as of the Reduction Effective Date, the Furniture Agreement shall be terminated. Effective as of the Reduction Effective Date, the security interest in the Furniture granted by Sublandlord to Subtenant under the Furniture Agreement shall terminate and be of no further force or effect. Subtenant hereby authorizes Sublandlord to file a UCC Financing Statement Amendment, terminating Subtenant's security interest in the Furniture ("UCC Termination Statement"), with the California Secretary of State and the Santa Xxxxx County Recorder, as appropriate, immediately following the Reduction Effective Date. In the event this First Amendment is terminated for any reason without the reduction in the Premises contemplated herein becoming effective, Sublandlord agrees it shall not file or record the UCC Termination Statement. Within three (3) business days following Sublandlord's receipt of the Termination Fee described below, Sublandlord shall return the original Furniture L/C to Xxxxx Fargo Bank at the following address: Xxxxx Fargo Bank 000 Xxxxxxxx Xxx. Palo Alto, CA 94301 Attention: Manao Xxxxxx Phone: 000-000-0000
