Relocation. Tenant shall make reasonable efforts to relocate to the New Premises as soon as is practical after Substantial Completion of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.
Appears in 3 contracts
Samples: Lab Lease (OmniAb, Inc.), Lease Agreement (Avista Public Acquisition Corp. II), Lab Lease (OmniAb, Inc.)
Relocation. Tenant A. Landlord, at any time during the Extension Term, shall make reasonable efforts have the right to relocate Tenant from the Leased Premises (for purposes of this Section, the “Old Premises”) to other space in Landlord’s downtown Kalamazoo portfolio (such other space being referred to as the “New Premises”) (the “Relocation Option”).
B. Landlord shall have the right to exercise the Relocation Option only by giving notice thereof (the “Relocation Notice”) to Tenant not later than ninety (90) days before the date that the relocation becomes effective (the “Relocation Date”). A Relocation Notice shall not be effective unless Landlord includes therewith a floor plan identifying the New Premises as soon as is practical after Substantial Completion of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operationsPremises. The New Premises Commencement Date shall (i) be comprised of rentable area equal to or greater than the date upon which New Landlord achieves Substantial Completion rentable area of the Old Premises, (ii) be similar in configuration to the Old Premises, and (iii) be within a 3 block radius of the Old Premises. In no event shall the monthly rental amount increase if the New Premises is comprised of a rentable area greater than the rentable area of the Old Premises. Landlord, at Landlord’s expense, shall construct in the New Premises, not later than the Relocation Date, an interior installation that is as comparable as reasonably practicable to the interior installation that then exists in the Old Premises.
C. Tenant shall cooperate reasonably with Landlord Work in connection with Landlord’s designing and delivers performing the construction of such interior installation in the New Premises. Tenant shall vacate the Old Premises and surrender vacant and exclusive possession of the Old Premises to Landlord on or before the Relocation Date, provided that Landlord has theretofore delivered vacant and exclusive possession of the New Premises to Tenant. Landlord shall reimburse Tenant subject to the aforementioned right for any reasonable moving expenses and for any other reasonable costs and expenses incurred by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated so relocating to the New Premises and b) delivered possession of from the Existing Premises back to Landlord in broom-cleanOld Premises, de-commissioned and de-contaminated condition as specified in the Lease within seven thirty (730) days after New LandlordTenant’s delivery request therefor and Tenant’s submission to Landlord of possession of reasonable supporting documentation therefor.
D. From and after the New PremisesRelocation Date, again subject all references to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to Premises herein shall mean the New Premises Commencement, rather than the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New LandlordOld Premises.
Appears in 3 contracts
Samples: Assignment and Assumption of Lease, Assignment and Assumption of Lease (Cirius Therapeutics, Inc.), Assignment and Assumption of Lease (Cirius Therapeutics, Inc.)
Relocation. Landlord, at its sole expense, on at least 120 days’ prior written notice to Tenant, may require Tenant to move from the Premises to another suite of substantially comparable size and decor in the Building or in the Complex. In the event of any such relocation, Landlord shall pay all the expenses: (a) of preparing and decorating the new premises so that they will be substantially similar to the Premises; (b) of moving Tenant’s furniture and equipment to the new premises (including Tenant’s data and communication wiring and cabling); and (c) that Tenant actually and reasonably incurs out-of-pocket (and which Tenant can document with written records) in connection with Tenant notifying its clients of such relocation, obtaining new letterhead and business cards, and other incidental expenses related directly to Tenant’s relocation. Tenant shall make execute any reasonable efforts amendment evidencing the terms of the relocation as Landlord may require in its reasonable discretion. Upon the effective date of the relocation: (i) the description of the Premises set forth in this Lease shall, without further act on the part of Landlord or Tenant, be deemed amended so that the new premises shall, for all purposes, be deemed the Premises hereunder, and all of the terms, covenants, conditions, provisions, and agreements of this Lease, including those agreements to relocate pay Rent (at the same rate per rentable square foot), shall continue in full force and effect and shall apply to the New Premises as soon as is practical after Substantial Completion of new premises; and (ii) Tenant shall move into the New Premises Landlord Work, it being understood and agreed by new premises. Notwithstanding anything to the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Workcontrary, Tenant shall have no obligation the right to relocate to terminate the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right Lease by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back written notice to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven not more than ten (710) days after New Tenant’s receipt of Landlord’s delivery of possession of the New Premisesrelocation notice and, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencementin such event, the Landlord under this Lease shall be terminate on the date that is sixty (60) days after Landlord’s receipt of Tenant’s termination notice unless Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to revokes its relocation notice within ten (10) days from receipt of Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord’s termination notice.
Appears in 2 contracts
Samples: Lease (Paratek Pharmaceuticals, Inc.), Lease (Paratek Pharmaceuticals, Inc.)
Relocation. 16.9.1 The Landlord may during the Term relocate the Tenant shall make reasonable efforts to relocate alternative premises if:
(a) the Landlord gives the Tenant details of a genuine proposal to the New Premises as soon as is practical after Substantial Completion carry out a refurbishment, redevelopment or extension of the New Premises Landlord Work, it being understood and agreed by Building within a reasonably practicable time after the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is relocation that cannot reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers carried out practicably without vacant possession of the New Premises to Premises; and
(b) the Landlord gives the Tenant subject not less than 3 months’ notice (relocation notice) containing details of an alternative premises, and offering the Tenant a new lease of those premises on the same terms as this Lease except that:
(i) the term of the new lease will begin at the earlier of 1 month after the alternative premises are made available to the aforementioned right Tenant for fitout purposes and the day on which the Tenant begins trading from the alternative premises, and will end on the Terminating Date; and
(ii) the rent will be adjusted (if necessary) to take into account the difference in commercial values between the Premises and the alternative premises.
16.9.2 The Landlord must notify the Tenant of the rent it thinks should be payable for the alternative premises when the relocation notice is given.
16.9.3 After receipt of the relocation notice, the Tenant may within 1 month of receipt of the relocation notice terminate this Lease by giving the Landlord termination notice and, in this case, the Lease will terminate 3 months after the date on which the relocation notice is given and the Tenant to defer occupancy prior to June 30must:
(a) vacate the Premises on the terminating date; and
(b) if required by the Landlord, 2014. sign a surrender of lease instrument.
16.9.4 The Tenant shall be is deemed to be in Default have accepted the relocation notice if the Tenant has gives the Landlord a notice accepting it or does not both: give a termination notice under clause 16.9.3 and by virtue of such acceptance the Tenant must:
(a) relocated to sign a new lease of the New Premises alternative premises and pay any duty;
(b) delivered possession fitout the alternative premises in accordance with the requirements of the Existing Premises back to new lease.
16.9.5 The Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in must pay the Lease within seven (7) days after New LandlordTenant’s delivery reasonable costs of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.relocation.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Relocation. Landlord, at its expense, shall have the one-time right exercisable at any time before or during the Term upon one hundred twenty (120) days’ prior written notice to Tenant, to relocate Tenant from the Premises to alternative space within the Park of reasonably comparable size, quality and utility (“Relocation Space”). Landlord shall make use commercially reasonable efforts to relocate accomplish as much of any such relocation as is reasonably practicable during non-business hours, so as to minimize unnecessary interruption to the New Premises as soon as is practical after Substantial Completion business of the New Premises Landlord WorkTenant. Specifically, it is agreed that any such move shall be a so-called “white glove” move, with Tenant’s employees being understood responsible only to pack their personal items on a given date, and agreed by upon completion of the parties thatmove only to unpack such personal items at their new work stations/offices. To the extent reasonably practicable and subject to Tenant’s good faith cooperation to effectuate same, notwithstanding any such relocation shall entail a Friday pack-up and weekend move, with the goal that Tenant shall be ready to occupy and operate in the Relocation Space as of the following Monday morning, subject to full cooperation of Tenant’s IT and other organizational employees necessary to cause the same to occur in coordination with Landlord. From and after the date of Substantial Completion the relocation, the Base Rent and Tenant’s Pro Rata Share shall be adjusted based on the rentable square footage of the New Premises Relocation Space. Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for pay Tenant’s business operationsreasonable costs of relocation, including all costs for moving Tenant’s furniture, equipment, supplies and other personal property, as well as the cost of printing and distributing change of address notices to Tenant’s customers and one month’s supply of stationery showing the new address. The New Premises Commencement Date Notwithstanding the foregoing, Landlord agrees that it shall be not exercise the date upon which New Landlord achieves Substantial Completion aforementioned relocation right within the last twelve (12) months of the New Premises Landlord Work and delivers possession Term of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New LandlordLease.
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (scPharmaceuticals Inc.)
Relocation. Tenant Landlord shall make reasonable efforts have the right, at any time and from time to time upon ninety (90) days' prior written notice to Tenant, to relocate Tenant to other premises ("New Premises") within the Shopping Center; subject, however, to the following terms and conditions:
(a) The New Premises shall have approximately the same Floor Area as is contained in the Premises, (b) the New Premises shall be leased to Tenant on the same terms and conditions as soon as is practical after Substantial Completion provided in this Lease, except that there shall be a proportionate adjustment of Minimum Annual Rental and Additional Rental based upon the Floor Area in the New Premises, (c) Landlord shall pay to Tenant, within thirty (30) days following the date Tenant initially opens for business in the New Premises, those expenses reasonably incurred by Tenant in connection with the relocation of Tenant's personal property; provided. however, Tenant has first provided Landlord with an itemized list of these expenses (accompanied with copies of invoices and proofs of payment of same), and (d) Landlord shall pay all costs of the leasehold improvements to be constructed at the New Premises and such leasehold improvements shall be substantially similar to the leasehold improvements in the Premises. In its notice to Tenant, Landlord Work, it being understood and agreed by shall set forth a timetable for completion of the parties that, notwithstanding leasehold improvements in the date of Substantial Completion of New Premises. If the New Premises Landlord Workis unacceptable to Tenant for any reason, Tenant shall have no obligation the right as its sole remedy hereunder, upon written notice to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease given within seven thirty (730) days after New Landlord’s delivery 's notice of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities relocation to Tenant, and that to terminate this Lease on thirty (30) days' written notice to Landlord. Landlord shall thereafter be construed pay to Tenant, within sixty (60) days after said notice is given and upon vacation of the Premises by Tenant, the unamortized book value of Tenant's leasehold improvements, excluding items removable by Tenant at the expiration of the Term pursuant to Section 27.24 (to the extent said leasehold improvements were paid for by Tenant, as evidenced by invoices and proofs of payment of same), depreciated on a lease agreement solely between straight-line basis over the Term, and Tenant and New Landlordshall provide Landlord with a bill xx sale for said leasehold improvements.
Appears in 2 contracts
Samples: Retail Space Lease (Silicon Entertainment Inc /Ca/), Retail Space Lease (Silicon Entertainment Inc /Ca/)
Relocation. Landlord, at its sole expense, on at least six (6) months’ prior written notice to Tenant, may require Tenant to move from the Premises to another suite of substantially comparable size and decor in the Building. In the event of any such relocation, Landlord shall pay all the reasonable expenses: (a) of preparing and decorating the new premises so that they will be substantially similar to the Premises; (b) of moving Tenant’s furniture and equipment to the new premises (including Tenant’s data and communication wiring and cabling); and (c) reasonably incurred and documented by Tenant, up to a maximum amount of $5,000.00, in notifying its clients of such relocation, obtaining new letterhead and business cards, and other incidental expenses related directly to Tenant’ s relocation. Tenant shall make execute any reasonable efforts amendment evidencing the terms of the relocation as Landlord may require in its reasonable discretion. Upon the effective date of the relocation: (i) the description of the Premises set forth in this Lease shall, without further act on the part of Landlord or Tenant, be deemed amended so that the new premises shall, for all purposes, be deemed the Premises hereunder, and all of the terms, covenants, conditions, provisions, and agreements of this Lease, including those agreements to relocate pay Rent (at the same rate per rentable square foot except as set forth below), shall continue in full force and effect and shall apply to the New Premises new premises; provided, however, in no event shall the Fixed Rent payable by Tenant under the Lease or Tenant’s Share increase as soon as is practical after Substantial Completion a result of such relocation (if the new premises are smaller than the Premises, all rental charges which are based upon the square footage of the New Premises Landlord Work, it being understood shall be reduced accordingly); and agreed by (ii) Tenant shall move into the parties that, notwithstanding new premises. Notwithstanding the date of Substantial Completion of the New Premises Landlord Workforegoing, Tenant shall have no obligation the right to relocate terminate this Lease by written notice to Landlord within thirty (30) calendar days after receipt of Landlord’s notice of relocation; provided, however, Landlord shall have the right to rescind its relocation notice by notice to Tenant within fifteen (15) calendar days after receipt of Tenant’s notice of termination, in which case the Term and the Premises shall continue as if Landlord never sent a notice of relocation under this Section 24. If Tenant timely terminates this Lease pursuant to the New Premises prior foregoing and Landlord does not elect to June 30rescind its relocation notice, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date the Term shall be automatically end on the date upon set forth in Landlord’s notice as the relocation date as if the Term were originally scheduled to expire on such date, which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant date shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord Expiration Date under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New LandlordLease.
Appears in 2 contracts
Samples: Lease (Cabaletta Bio, Inc.), Lease (Cabaletta Bio, Inc.)
Relocation. Landlord shall have the right, at any time after September 30, 2005, upon giving Tenant shall make reasonable efforts not less than thirty (30) days prior notice (the “Relocation Notice”), to relocate provide and furnish Tenant with space (“Relocation Space”) elsewhere in the Calabasas Tech Center of approximately the same size as the Extension Space, with Landlord to pay all verified and previously approved costs and expenses incurred by Tenant as a result of such move to such new Relocation Space including, without limitation, the New Premises as soon as is practical cost of moving furniture and equipment and recabling and repainting the Relocation Space for Tenant’s use. Notwithstanding the foregoing, if Tenant notifies Landlord within ten (10) days after Substantial Completion Tenant’s receipt of the New Premises Relocation Notice that Tenant desires space of a lesser size, Landlord Workmay instead substitute space elsewhere in the Calabasas Tech Center of approximately the size so designated by Tenant if such space is then available. Furthermore, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises if Landlord Workdelivers a Relocation Notice to Tenant, Tenant shall (i) have no obligation three (3) separate and consecutive one-month options to relocate renew the term of the Lease (as amended) for the Relocation Space, which options must be exercised, if at all, by written notice to Landlord at least thirty (30) days prior to the New Premises prior to June 30, 2014 first day of such renewal term and which options may only be exercised if such an earlier date Tenant is not reasonably convenient for then in default under the Lease (as amended), and (ii) have the option to terminate the Lease (as amended) by written notice to Landlord within ten (10) days after Tenant’s business operationsreceipt of the Relocation Notice. The New Premises Commencement Date Any such termination shall be effective as of a date so specified by Tenant in such termination notice to Landlord, but no later than the effective date upon of such relocation specified in Landlord’s Relocation Notice. If the Relocation Space is a lesser size than 14,879 rentable square feet, the Fixed Minimum Monthly Rent shall be adjusted by multiplying $25,000.00 by a fraction, the numerator of which New Landlord achieves Substantial Completion is the number of rentable square feet of the New Premises Relocation Space and the denominator of which is 14,879. If Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by moves Tenant to defer occupancy prior such Relocation Space, the Lease (as amended) and each and all of its terms, covenants and conditions shall remain in full force and effect and shall be deemed applicable to June 30, 2014. Tenant such Relocation Space and such Relocation Space shall thereafter be deemed to be in Default if the “Extension Space” as though Landlord and Tenant has not both: a) relocated had entered into an express written amendment to the New Premises and b) delivered possession of the Existing Premises back Lease with respect thereto and, upon request from Landlord, Tenant shall execute a new amendment to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlorddocumenting such relocation upon such terms.
Appears in 1 contract
Samples: Lease (Tekelec)
Relocation. (a) Landlord may, upon at least one hundred eighty (180) days' prior written notice to Tenant, require Tenant to relocate a portion of the office part of the Leased Premises (the "Released Premises") to other office premises (the "New Premises") in the Building in accordance with the provisions contained in this Section. The New Premises shall be substantially equivalent space as the Released Premises. Tenant's direct, reasonable moving costs and expenses paid to third parties shall be reimbursed by Landlord within thirty (30) days from Landlord's receipt of paid invoices from Tenant. The amounts payable under this Lease shall not be adjusted as a result of any such relocation. Within thirty (30) days after Landlord provides its relocation notice to Tenant hereunder, Landlord and Tenant shall make reasonable efforts execute an amendment to relocate this Lease providing for the relocation of Tenant to the New Premises as soon as is practical after Substantial Completion provided in this Section.
(b) In the event that Tenant does not vacate and surrender possession of the New Released Premises to Landlord Workin the time period specified by Landlord's relocation notice, it being understood and agreed by or cease its operations of business at the parties thatReleased Premises, notwithstanding as the case may be, on the date of Substantial Completion of and in the New Premises Landlord Workmanner required pursuant to the preceding paragraph, in addition to all other liabilities and damages to which Tenant shall be subject by reason thereof, Tenant shall indemnify Landlord and hold Landlord harmless from and against any and all claims, demands, damages, expenses, fees, costs, fines, penalties, suits, proceedings, actions, causes of action and losses of any and every kind and nature (including, without limitation, sums paid in settlement of claims and for reasonable attorneys' fees and court costs) that may be imposed upon or incurred by or asserted against Landlord arising, directly or indirectly, out of or in connection with Tenant's failure to surrender possession of, or cease its operation of business at, the Released Premises. Landlord shall also have no the right to specific performance with respect to Tenant's obligation to relocate to surrender possession of, and cease operation of its business at, the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operationsReleased Premises. The New Premises Commencement Date election of Landlord to insist upon specific performance in such event shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease waiver or relinquishment of any provision, covenant, agreement solely between or condition on the part of Tenant and New Landlordto be performed or of any other remedy that Landlord may be entitled to under this Lease, at law, in equity or otherwise.
Appears in 1 contract
Relocation. Tenant If the Lease is terminated, disclaimed or repudiated and if a New Lease for the Sublet Premises is entered into between the Landlord and the Subtenant, all as described in section 3.3 of this consent, the Landlord shall make reasonable efforts have the right to relocate the Sublet Premises on the terms described below:
(a) if such termination, repudiation or disclaimer occurs between January 1, 2004 and June 30, 2007, the Landlord may, at its option, relocate that part of the Sublet Premises which forms part of the Office Areas of the Leased Premises (hereinafter called the "Office Space") to office space elsewhere in the New Complex of similar size, similar base building finishes and similar base building amenities at the Subtenant's sole cost and expense. For greater certainty, it is agreed and understood that the Landlord is not required to provide leasehold improvements of a similar nature as found in the Office Space or to compensate the Subtenant for the improvements comprising the Office Space being relocated. It is further agreed and understood that the Landlord shall not have the right to require the Subtenant to relocate any area in the Sublet Premises comprising part of the Non-Office Areas of the Leased Premises being used by the Subtenant as soon a laboratory (hereinafter called the "Lab Space"); and
(b) if such termination, repudiation or disclaimer occurs on or after July 1, 2007, the Landlord may, at its option, relocate either or both the Office Space and Lab Space to space elsewhere in the Complex of similar size, base building finishes and amenities. The relocation of the Office Space shall be at the Subtenant's sole cost and expense; it being agreed and understood that the Landlord is not required to provide leasehold improvements of a similar nature as is practical after Substantial Completion those found in the Office Space or to compensate the Subtenant for the improvements comprising the Office Space being relocated. If the Landlord elects to relocate the Lab Space, the Landlord shall reimburse the Subtenant for all reasonable costs incurred by the Subtenant as a direct result of such relocation of the Lab Space, including its physical move, the rebuilding of the Leasehold Improvements in the new Lab Space to a standard comparable to those found in the Lab Space at the time of such relocation and the reconnection of existing communication lines. In no event, however, shall the Landlord be liable for or obligated to reimburse the Subtenant for any indirect costs, including without limitation, interruption or loss of business. In each case, the term of the New Premises Landlord WorkLease shall terminate with respect to the relocated Office Space or Lab Space, it being understood as the case may be, and agreed shall commence with respect to the new Office Space or new Lab Space, as the case may be, one hundred and twenty (120) days following the delivery to the Subtenant by the parties that, notwithstanding the date Landlord of Substantial Completion written notice of the New Premises Landlord Work, Tenant shall have no obligation Landlord's election to relocate the Sublet Premises pursuant to the New Premises prior to June 30terms of this section 3.4, 2014 and provided the Landlord has completed its aforesaid required work, if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30any, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of Office Space or Lab Space, as the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordcase may be.
Appears in 1 contract
Relocation. Tenant The provisions of Section 8.18, as set forth in the original Lease, shall make reasonable efforts continue to relocate apply to the New Premises as soon as is practical after Substantial Completion 18th Floor Premises, without regard to the modifications set forth in the next paragraph for the 26th Floor Premises. In addition, the provisions of Section 8.18 of the New original Lease shall also apply separately to the 26th Floor Premises Landlord Workwith the modifications set forth in this paragraph below. Effective as of the Delivery Date, Section 8.18 of the Lease is hereby amended by changing the reference to “Floor 14” to “Floor 22” and the reference to “one month after receipt of such notice” to “three (3) months after receipt of such notice.” Landlord’s notice shall include a floor plan identifying the new premises, which premises shall have a Rentable Floor Area equal to or greater than 19,000 square feet of Rentable Floor Area (it being agreed that if the Rentable Floor Area of the replacement premises is greater, the Annual Fixed Rent with respect to the replacement premises shall not be increased above the Annual Fixed Rent from time to time payable for the original Premises) and shall be similar thereto in configuration and lay-out. Any such relocation under Section 8.18 shall occur on only one occasion after the fifth (5th) Rent Year. In addition to Landlord’s obligations associated with a relocation under Section 8.18, prior to relocation, Landlord, at Landlord’s cost and expense, shall perform the work necessary to construct in the replacement premises the Tenant Work and Finish Work previously made in the Premises, and including, without limitation, all risers, wiring, cabling, wiring for computers and telecommunications equipment and installation of all related equipment (it being understood that such work shall be of similar quality and agreed by quantity to that then existing in the parties that, notwithstanding Premises). Landlord agrees that it shall use contractors reasonably satisfactory to Tenant for the date installation in the replacement premises of Substantial Completion of the New Premises Landlord Tenant Work and Finish Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30fixtures, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work telecommunications equipment, computers and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.related wiring and
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Relocation. At any time after Xxxxxx's execution of this Lease, Landlord shall have the right, upon thirty (30) days' prior written notice to Tenant, to provide Tenant shall make reasonable efforts with reasonably similar space elsewhere in the Project of approximately the same size as the Premises and to relocate Tenant to said space. In the event that Landlord shall exercise such right subsequent to Tenant's occupancy of the Premises, Landlord shall pay all reasonable costs of moving Tenant to such new space. If Landlord moves Tenant to such new space, then this Lease and each and all of the terms and covenants and conditions hereof shall remain in full force and effect and thereupon be deemed applicable to such new space, except that the new space shall be substituted for the current space, a revised floor plan shall become part of this Lease and shall reflect the location of the new space and Base Rent shall be proportionately adjusted to reflect any change in the rentable square footage of the new space as compared to the New Premises as soon as is practical original Premises. Should Tenant refuse to permit Landlord to move Tenant to such new space, Landlord shall have the right to terminate this Lease by written notice to Tenant, which termination shall be effective sixty (60)days after Substantial Completion of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion Landlord's original notice of relocation. Nothing contained in this Section 22.18 shall require Landlord to offer to Tenant to substitute any similar space that becomes available in the New Premises Project for Tenant's existing space or any other similar space that is or becomes available in the Project if Tenant refuses to permit Landlord Work, Tenant shall have no obligation to relocate Tenant to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New relocation space initially proposed by Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordsubstitute for Xxxxxx's existing space.
Appears in 1 contract
Samples: Full Service Lease (Q Matrix Inc)
Relocation. Tenant shall make reasonable efforts to relocate to the New Premises as soon as is practical For a period of one year after Substantial Completion expiration of the New primary term of this Lease and only so long as the initial Lessor (or another "institutional" purchaser which is not in the business of developing or operating warehouses, but for this purpose ownership of warehouses operated by others shall not be deemed "operating" warehouses) owns the Premises, Lessee shall not transfer any of Lessee's business being conducted on the Premises Landlord Work, it being understood and agreed by at the parties that, notwithstanding the date of Substantial Completion termination of the New primary term of this Lease to any warehouse developed by Lessee or its affiliates that is within a ten (10) mile radius of the Premises Landlord Work(a "Lessee Warehouse") unless the Premises are no longer suitable for the business being conducted thereon. If Lessee determines that the Premises are no longer suitable for the business being conducted thereon, Tenant Lessee shall deliver to Lessor an affidavit executed by an officer of GATX Corporation on behalf of such corporation certifying that the Premises are no longer suitable for the business being conducted thereon and setting forth the reasons why. Upon receipt of such affidavit Lessor shall have the right to make the Premises suitable to Lessee, if possible, at Lessor's sole cost and expense, within the time reasonably required by Lessee. If Lessor is able to make the Premises suitable for Lessee within the time reasonably required by Lessee, Lessee shall not be permitted to transfer the business to a Lessee Warehouse unless Lessee agrees to extend the Lease term for one (1) additional year after the expiration of the primary term of this Lease. Such extension shall be at the rate for Basic Rent in effect for the period immediately prior to such extension adjusted in the manner provided in Section 3.2 for adjustments during the primary term of this Lease. Lessee shall be under no obligation to relocate to use or occupy the New Premises prior to June 30during such extension period provided it pays all Basic Rent and additional rent due hereunder, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date terminate at the Landlord under end of such one (1) year period without any further restrictions pursuant to this Lease Section 15.15. In no event shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities provisions of this Section 15.15 apply if Lessee has exercised any option to Tenant, and that renew the term of this Lease shall thereafter be construed as a lease agreement solely between Tenant and New LandlordLease.
Appears in 1 contract
Relocation. Notwithstanding any contrary provision of this Lease, if Landlord requires the Premises for use in connection with another suite or for other reasons related to Landlord's occupancy plans for the Building, then at any time during the Lease Term Landlord shall have the right, upon providing Tenant shall make reasonable efforts prior written notice (the "Relocation Notice"), to relocate provide and furnish Tenant with space elsewhere in the Building comparable to the New Premises and to move and place Tenant in such new space, at Landlord's sole cost and expense. Such space shall be approximately the same size as soon as is practical after Substantial Completion of the New existing Premises and shall be improved by Landlord Workprior to Tenant's relocation with leasehold improvements comparable to those in the existing Premises. However, it being understood if the new space does not meet the Tenant's reasonable and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Workgood-faith approval, Tenant shall have no obligation may cancel this Lease upon written notice to relocate to the New Premises prior to June 30Landlord, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall which notice must be the date upon which New received by Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven ten (710) days after New Landlord’s delivery of possession to Tenant of the New PremisesRelocation Notice, again subject and unless Landlord withdraws its request that Tenant relocate, this Lease shall terminate sixty (60) days thereafter (as if such date were the natural expiration of the Term hereof) and neither party shall have any further rights or obligations hereunder. Tenant's failure to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior timely deliver notice to the New Premises Commencement, the Landlord under of Tenant's election to cancel this Lease shall be deemed an acceptance by Tenant of the new space set forth in the Relocation Notice, and Tenant shall vacate the Premises in accordance with said notice and/or the terms of any subsequent notice from Landlord to Tenant. If Landlord moves Tenant to such new space, then this Lease and each and all of the terms, covenants and conditions hereof shall remain in full force and effect and be deemed applicable to such new space except that a revised Exhibit "A" showing the location of the new space shall become a part of ----------- this Lease and Landlord and that following said date the Landlord under Tenant shall promptly thereafter execute an amendment to this Lease shall become New Landlordcontaining such revised "Exhibit "A" and with the Basic ----------- Terms of this Lease, as contained in Article 2, amended, if necessary, to --------- include and that following state all correct data as to the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordnew space.
Appears in 1 contract
Samples: Office Lease (Vsource Inc)
Relocation. Landlord may, upon sixty (60) days notice to Tenant, relocate the Premises to any other premises within the Property (“Relocated Premises”) on a date of relocation (the “Relocation Date”) specified therein. The Relocated Premises shall in all respects be substantially the same or better, as reasonably determined by Landlord, in area, finish, and appropriateness for the Permitted Use. In such event, all reasonable expenses of moving Tenant and decorating the Relocated Premises with substantially the same leasehold improvements shall make reasonable efforts be at the expense of Landlord, including the physical move, relocating Tenant’s existing telephone equipment and other costs set forth below. All moving costs (including the cost to relocate phones, computers and other systems of similar nature), all costs of reprinting stationery, cards and other printed material bearing Tenant’s address at the Premises if such address changes due to the New Premises as soon as is practical after Substantial Completion of relocation (but only the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate quantity existing immediately prior to the New relocation) and all other out-of-pocket costs directly incurred by Tenant in connection with relocation to the Relocated Premises, including reasonable decorating and design costs, shall be paid by Landlord within thirty (30) days after receipt of third-party invoices therefor. From the Relocation Date through the Expiration Date, the aggregate Base Rent for the One Buckhead Plaza/Safety Quick Light LLC 19 Relocated Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of same as for the New Premises Landlord Work and delivers possession of original Premises. Tenant’s failure to vacate the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of move into the Existing Relocated Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in on the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease Relocation Date shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as constitute a lease agreement solely between Tenant and New LandlordTime Sensitive Default.
Appears in 1 contract
Relocation. 16.9.1 The Landlord may during the Term relocate the Tenant shall make reasonable efforts to relocate alternative premises if:
(a) the Landlord gives the Tenant details of a genuine proposal to the New Premises as soon as is practical after Substantial Completion carry out a refurbishment, redevelopment or extension of the New Premises Landlord Work, it being understood and agreed by Building within a reasonably practicable time after the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is relocation that cannot reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers carried out practicably without vacant possession of the New Premises to Premises; and
(b) the Landlord gives the Tenant subject not less than 3 months’ notice (relocation notice) containing details of an alternative premises, and offering the Tenant a new lease of those premises on the same terms as this Lease except that:
(i) the term of the new lease will begin at the earlier of 1 month after the alternative premises are made available to the aforementioned right Tenant for fitout purposes and the day on which the Tenant begins trading from the alternative premises, and will end on the Terminating Date; and
(ii) the rent will be adjusted (if necessary) to take into account the difference in commercial values between the Premises and the alternative premises.
16.9.2 The Landlord must notify the Tenant of the rent it thinks should be payable for the alternative premises when the relocation notice is given.
16.9.3 After receipt of the relocation notice, the Tenant may within 1 month of receipt of the relocation notice terminate this Lease by giving the Landlord termination notice and, in this case, the Lease will terminate 3 months after the date on which the relocation notice is given and the Tenant to defer occupancy prior to June 30must:
(a) vacate the Premises on the terminating date; and
(b) if required by the Landlord, 2014. sign a surrender of lease instrument.
16.9.4 The Tenant shall be is deemed to be in Default have accepted the relocation notice if the Tenant has gives the Landlord a notice accepting it or does not both: give a termination notice under clause 16.9.3 and by virtue of such acceptance the Tenant must:
(a) relocated to sign a new lease of the New Premises alternative premises and pay any duty;
(b) delivered possession fitout the alternative premises in accordance with the requirements of the Existing Premises back to new lease.
16.9.5 The Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in must pay the Lease within seven (7) days after New LandlordTenant’s delivery reasonable costs of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordrelocation.
Appears in 1 contract
Samples: Lease
Relocation. Tenant Landlord shall make reasonable efforts have the right, at its option upon not less than sixty (60) days prior written notice to Tenant, to relocate Tenant and to substitute for the New Premises described above other space in the Building containing at least as soon much contiguous rentable area as the Premises described in Section 1A above. The relocation premises will be located on the same or higher floor in the Building and shall contain improvements that are at least substantially the same in quantity and quality as the Premises. If Tenant is practical after Substantial Completion already in occupancy of the New Premises Premises, then Landlord Work, it being understood and agreed by shall approve in advance the parties that, notwithstanding the date relocation expenses for purposes of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient reimbursement for Tenant’s reasonable’ moving, build out, electrical services and telephone relocation expenses (including building a server room and associated cabling), so as to create in the new space in a substantially similar space build out and operation as exists in the Premises and for reasonable quantities of new stationery and business operationscards upon submission to Landlord of receipts for such expenditures incurred by Tenant. The New relocation premises will then become the Premises Commencement Date shall hereunder and the Rent and other sums payable hereunder will be adjusted, if necessary, to reflect any increase or decrease in the square footage of the Premises, provided, however, that if the relocation occurs during the initial Term then Rent will not be increased and further provided that if the relocation occurs during the first renewal term, then Rent will not be increased unless the increase in square footage results in additional built-out offices (as opposed to common areas such as reception areas or corridors) and is utilized by Tenant. Notwithstanding the foregoing, if Tenant is unwilling to accept any relocation premises proposed by Landlord, Tenant may terminate this Lease upon written notice to Landlord delivered within ten days following the date upon which New Landlord achieves Substantial Completion Tenant receives Landlord’s notice as set forth above. In the event of such termination, Tenant will vacate the New Premises Landlord Work and delivers possession within sixty (60) days following the date written notice of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) termination is delivered possession of the Existing Premises back to Landlord and, in broom-cleansuch event, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall will be Landlord and that following said terminated on the date the Landlord under this Lease shall become New Landlord, Premises are vacated and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities possession thereof is returned to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.
Appears in 1 contract
Samples: Lease Agreement (XOOM Corp)
Relocation. Subject to the terms hereof, Landlord may, at its option (the "Relocation Option"), at any time, by giving notice to Tenant, exercise a one-time right to require Tenant to vacate and surrender the Additional Storage Space and relocate to reasonably comparable substitute storage space reasonably acceptable to Landlord and Tenant (the "Substitution Space"). Such Substitution Space shall contain useable square feet in an amount not less than the useable area of the Additional Storage Space and of comparable configuration for Tenant’s uses thereof. Landlord shall exercise the Relocation Option by giving Tenant not less than one hundred eighty (180) days' prior written notice (the "Relocation Notice") specifying the effective date (the "Relocation Effective Date") of Tenant's relocation to the Substitution Space, whereupon, as of such Relocation Effective Date:
(i) The description of the Additional Storage Space, as set forth herein, shall be amended, without further action on the part of either Landlord or Tenant, so that the Substitution Space shall be deemed to be the Additional Storage Space under the Lease, and all other terms, covenants, conditions, provisions and agreements contained in the Lease shall continue in full force and effect and shall apply to the Substitution Space as if such Substitution Space were the Additional Storage Space originally demised hereunder. In the event that the Substitution Space contains a greater number of useable square feet than the Additional Storage Space, then the annual Fixed Rent shall be the same as the annual Fixed Rent for the initial Additional Storage Space set forth in this Amendment;
(ii) Tenant shall make reasonable efforts vacate and surrender the Additional Storage Space and accept occupancy of the Substitution Space on or before the Relocation Effective Date, such Additional Storage Space to relocate be surrendered to Landlord in accordance with the terms of the Lease as if such Relocation Effective Date were the Expiration Date of the Lease. If, however, Tenant shall continue to occupy the Additional Storage Space after the Relocation Effective Date, same shall not result in a renewal of this Amendment or an extension of the Term, but a holdover subject to the New Premises as soon as is practical after Substantial Completion terms of Article 18 of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding Lease;
(iii) At all times between the date of Substantial Completion the Relocation Notice and the Relocation Effective Date, Landlord shall provide Tenant with access to the Substitution Premises for the purpose of completing alterations and improvements thereto and preparing the same for Xxxxxx’s use; and
(iv) Tenant shall be deemed to have accepted possession of the New Premises Substitution Space in an "as is" condition as of the Relocation Effective Date and otherwise in accordance with the terms and conditions of Section 2(g) of this Amendment. Tenant hereby acknowledges that Landlord Work, Tenant shall have no obligation to relocate perform any fit-up or other work to prepare the Substitution Space for Tenant's use thereof. If Landlord exercises this Relocation Option, then Landlord shall reimburse Tenant for Tenant's actual and reasonable out-of-pocket expenses incurred: (a) to make alterations and improvements to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject Substitution Space substantially similar to the aforementioned right alterations and improvements made by Tenant to defer occupancy prior the Additional Storage Space; and (b) in connection with moving Tenant's stored items from the Additional Storage Space to June 30the Substitution Space; provided, 2014. however, that Tenant shall not be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlordcompensated for, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities liability to Tenant on account of, any inconvenience to Tenant or any interruption to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord's business or affairs.
Appears in 1 contract
Samples: Fourth Lease Amendment Agreement (World Wrestling Entertainmentinc)
Relocation. Prior to Tenant taking occupancy, Landlord, at its option, reserves the right to relocate the Tenant into another space of similar square footage in the Shopping Center. Tenant shall make reasonable efforts be advised of said relocation on or before sixty (60) days prior to relocate substantial completion of the Landlord’s Work. In the event that Tenant shall not agree to the New Premises relocation as soon as is practical provided herein, Tenant may cancel this Lease upon written notice to Landlord within fifteen (15) days after Substantial Completion Tenant receives notice of the New Premises such relocation. Upon cancellation, Landlord Work, it being understood and agreed by the parties that, notwithstanding the date shall not be liable to Tenant for any damages of Substantial Completion of the New Premises Landlord Work, any kind whatsoever. Tenant shall have no obligation recourse against Landlord for the utilization of this Section. Subsequent to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers Tenant taking possession of the New Premises Premises, Landlord shall, at its option, have the right to relocate the Tenant subject to another space of similar square footage in the Shopping Center. Landlord must provide Tenant with no less than thirty (30) days written notice. Landlord shall pay the reasonable costs of moving Tenant to the aforementioned new premises and for improving the new premises so that they are substantially similar to the Premises. Such move shall be made in the evening or on the weekend to minimize the inconvenience to Tenant. If Landlord exercises its right by to relocate Tenant to defer occupancy prior to June 30under this Section, 2014. Tenant the new premises shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease after Tenant takes occupancy of the new premises. In the event that Tenant shall be not agree to the relocation as called for in the preceding Section, Landlord and that following said date the Landlord under may cancel this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities upon fifteen (15) days written notice to Tenant. Tenant, and that this Lease upon receipt of notice, shall thereafter be construed as a lease agreement solely between vacate the Premises no later than the last day of the month in which Tenant and New Landlordreceives said notice.
Appears in 1 contract
Samples: Lease Agreement
Relocation. Tenant shall make reasonable efforts to relocate to the New Premises as soon as is practical after Substantial Completion of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities the right, at its option upon not less than sixty (60) days prior written notice to Tenant, to relocate Tenant and that to substitute for the Premises described above other space in the Building containing at least as much similar rentable area (not exceeding plus or minus 10%) as the Premises described in Section 1A above. If Tenant is already in occupancy of the Premises, then Landlord shall approve in advance the relocation expenses for purposes of reimbursement for Tenant's reasonable moving and telephone relocation expenses and for reasonable quantities of new stationery upon submission to Landlord of receipts for such expenditures incurred by Txxxxx. The relocation premises will then become the Premises hereunder and the Rent and other sums payable hereunder will be adjusted, if necessary, to reflect any increase or decrease in the square footage of the Premises. The relocation premises shall be in the upper tower portion of the building. Notwithstanding the foregoing, if Tenant is unwilling to accept any relocation premises proposed by Landlord, Tenant may terminate this Lease shall thereafter upon written notice to Landlord delivered within ten days following the date Tenant receives Landlord's notice as set forth above. In the event of such termination, Tenant will vacate the Premises within sixty (60) days following the date written notice of termination is delivered to Landlord and, in such event, this Lease will be construed as a lease agreement solely between Tenant terminated on the date the Premises are vacated and New possession thereof is returned to Landlord.
Appears in 1 contract
Samples: Office Lease (Bf Enterprises Inc)
Relocation. Tenant shall make reasonable efforts to relocate to the New Premises as soon as is practical after Substantial Completion of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities the right, at its option upon not less than sixty (60) days prior written notice to Tenant, to relocate Tenant and that to substitute for the Premises described above other space in the Building containing at least as much rentable area as the Premises described in Section 1A above. If Tenant is already in occupancy of the Premises, then Landlord shall approve in advance the relocation expenses for purposes of reimbursement for Tenant's reasonable moving and telephone relocation expenses and for reasonable quantities of new stationery upon submission to Landlord of receipts for such expenditures incurred by Tenant. The relocation premises will then become the Premises hereunder and the Rent and other sums payable hereunder will be adjusted, if necessary, to reflect any increase or decrease in the square footage of the Premises. Notwithstanding the foregoing, if Tenant is unwilling to accept any relocation premises proposed by Landlord, Tenant may terminate this Lease shall thereafter upon written notice to Landlord delivered within ten days following the date Tenant receives Landlord's notice as set forth above. In the event of such termination, Tenant will vacate the Premises within sixty (60) days following the date written notice of termination is delivered to Landlord and, in such event, this Lease will be construed as a lease agreement solely between Tenant terminated on the date the Premises are vacated and New possession thereof is returned to Landlord.
Appears in 1 contract
Samples: Office Lease (Tenera Inc)
Relocation. Tenant Landlord shall make reasonable efforts have the right, at any time and from time to time upon ninety (90) days' prior written notice to Tenant, to relocate Tenant to other premises ("New Premises") within the Shopping Center; subject, however, to the following terms and conditions:
(a) The New Premises shall have approximately the same Floor Area as is contained in the Premises, (b) the New Premises shall be leased to Tenant on the same terms and conditions as soon as is practical after Substantial Completion provided in this Lease, except that there shall be a proportionate adjustment of Minimum Annual Rental and Additional Rental based upon the Floor Area in the New Premises, (c) Landlord shall pay to Tenant, within thirty (30) days following the date Tenant initially opens for business in the New Premises, those expenses reasonably incurred by Tenant in connection with the relocation of Tenant's personal property; provided, however, Tenant has first provided Landlord with an itemized list of these expenses (accompanied with copies of invoices and proofs of payment of same), and (d) Landlord shall pay all costs of the leasehold improvements to be constructed at the New Premises and such leasehold improvements shall be substantially similar to the leasehold improvements in the Premises. In its notice to Tenant, Landlord Work, it being understood and agreed by shall set forth a timetable for completion of the parties that, notwithstanding leasehold improvements in the date of Substantial Completion of New Premises. If the New Premises Landlord Workis unacceptable to Tenant for any reason, Tenant shall have no obligation the right as its sole remedy hereunder, upon written notice to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease given within seven thirty (730) days after New Landlord’s delivery 's notice of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities relocation to Tenant, and that to terminate this Lease on thirty (30) days' written notice to Landlord. Landlord shall thereafter be construed pay to Tenant, within sixty (60) days after said notice is given and upon vacation of the Premises by Tenant, the unamortized book value of Tenant's leasehold improvements, excluding items removable by Tenant at the expiration of the Term pursuant to Section 27.24 (to the extent said leasehold improvements were paid for by Tenant, as evidenced by invoices and proofs of payment of same), depreciated on a lease agreement solely between straight-line basis over the Term, and Tenant and New Landlordshall provide Landlord with a xxxx of sale for said leasehold improvements.
Appears in 1 contract
Relocation. 44.01 Landlord may, at its option, before or after the Commencement Date, elect by notice to Tenant to substitute for the Demised Premises other office space in the Building or The Expressway Plaza at Roslyn, dxxxxxxted by Landlord (hereinafter called "Substitute Premises"), provided that the rentable square foot area of the Substitute Premises is not less than one hundred percent (100%), nor larger than one hundred fifteen percent (115%) of the rentable square foot area of the Demised Premises. Landlord's notice shall set forth the date which Tenant shall make reasonable efforts to relocate to vacate and surrender the New Demised Premises as soon as is practical and occupy the Substitute Premises (herein called the "Relocation Date"). The Relocation Date designated by Landlord shall be no earlier than thirty (30) days after Substantial Completion of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion Landlord's notice. Landlord shall, at Landlord's expense, (i) furnish and install in the Substitute Premises fixtures and improvements substantially similar to those contained in the Demised Premises; (ii) provide to Tenant at Landlord's sole expense, moving personnel to perform the moving of Tenant's property and equipment from the Demised Premises to the Substitute Premises; and (iii) reimburse Tenant for Tenant's actual reasonable out-of-pocket costs incurred by Tenant in connection with the relocation of any telephone or other communications equipment from the Demised Premises to the Substitute Premises. If Landlord elects to substitute other premises prior to the Commencement Date, Landlord, at Landlord's expense, shall improve the Substitute Premises substantially in accordance with the Work Letter attached hereto as Exhibit C. Tenant agrees to execute such documents, as in Landlord's sole opinion, are necessary, appropriate or desirable in order to reflect the substitution of the New Substitution Premises Landlord Workfor the Demised Premises, which documents shall set forth any adjustment in the Fixed Rent and Tenant's Proportionate Share as may be required by reason of such substitution as well as any other changes or modifications to this Lease made necessary by, and attributable to such substitution. From and after the earlier of: (a) the date on which Tenant shall have actually vacate and surrender the Demised Premises to Landlord or (b) the Relocation Date, this Lease: (i) shall no obligation to relocate longer apply to the New Premises Demised Premises, except with respect to all obligations to pay Fixed Rent and Additional Rent and all other obligations which accrued on or prior to June 30such date, 2014 including without limitation the liabilities and obligations imposed upon Tenant as a holdover Tenant if such an earlier date is not reasonably convenient the Tenant fails to vacate and surrender the Demised Premises on or before the Relocation Date; and (ii) shall apply to the Substitute Premises as if the Substitute Premises had been the space originally demised under this Lease. In the event Tenant without Landlord's prior written consent, fails to vacate and surrender the Demised Premises on or before the Surrender Date, then Tenant agrees to reimburse Landlord for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion all of the New Premises damages, costs and expenses incurred by Landlord Work by reason of such failure including lost rent, and delivers possession of the New Premises to Tenant subject to the aforementioned right all legal fees incurred by Tenant to defer occupancy prior to June 30Landlord, 2014. and Tenant shall be deemed liable to Landlord and reimburse Landlord, as Additional Rent, all of such costs, expenses and damages including without limitation, fair value, use and occupancy for the Demised Premises in the amount equal to two hundred percent (200%) of the Fixed Rent and Additional Rent which would have been due for the Demised Premises (which shall be in Default if Tenant has not both: a) relocated addition to the New Premises Fixed Rent and bAdditional Rent for the Substitute Premises) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a any lost rent from any lease agreement solely between Tenant and New Landlordor prospective lease agreement for the Demised Premises which Landlord had executed or was then negotiating, which leasing (and/or tenant or prospective tenant) Landlord lost, by reason in whole or part of Tenant's holding over beyond the Relocation Date.
Appears in 1 contract
Relocation. Tenant (a) Landlord shall make reasonable efforts have a right to relocate the Premises to another location within the Shopping Center (“Substitute Premises”). The Substitute Premises, in its current or future location shall contain approximately the same square footage as the original Premises and shall be exposed to reasonably equivalent pedestrian traffic as the original Premises. Landlord shall notify Tenant of such relocation not less than thirty (30) ninety (90) days prior to the New date thereof. Landlord shall reconstruct on the Substitute Premises improvements substantially similar in quality, style and design to those constructed at the original Premises in accordance with plans and specifications approved by Landlord and Tenant, which approval shall not be unreasonably withheld by either party. Landlord shall pay the cost of moving and reinstalling the fixtures and all Tenant Personal Property (as soon as is practical after Substantial Completion hereinafter defined) into the Substitute Premises. As of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding latter of the date of Substantial Completion of specified in Landlord’s notice to Tenant or ten (10) days after Xxxxxxxx has notified Tenant that it has completed the New Premises improvements to be constructed by Landlord Workon the Substitute Premises, Tenant shall have no obligation to relocate surrender the original Premises, shall move to the New new Premises, and the Substitute Premises prior shall be deemed the Premises hereunder as fully as if said Substitute Premises were originally described herein as the Premises. Xxxxxx agrees that promptly, on demand, it shall execute an amendment designating the location of the Substitute Premises. Fixed Minimum Rent and all Additional Charges shall be abated during any period that Landlord requires Tenant to June 30cease conducting business in connection with the relocation of the Premises. Tenant shall not be required to vacate the Premises until all improvements are complete in the Substitute Premises and the Substitute Premises has been delivered to Tenant. Impossible Kicks – Grand Canal Shoppes – 2065 – Retail Lease 2/6/2023 (NL) (kb)
(b) Notwithstanding anything to the contrary in Section 3.5(a), 2014 if such an earlier date the Substitute Premises is not reasonably convenient acceptable to Tenant and Landlord cannot or does not remedy Tenant’s written concerns, then Landlord may terminate this Lease at any time within thirty (30) days after Xxxxxxxx’s notice to Tenant of Landlord’s intent to relocate the Premises and neither party shall have any further obligation hereunder (except with respect to matters that arose before such termination). In connection with such termination, Landlord shall pay to Tenant the unamortized (based on straight line amortization) reasonable costs paid by Tenant for Tenant’s business operations. The New Premises Commencement Date shall be non-removable improvements at the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.
Appears in 1 contract
Relocation. Tenant (a) Anything to the contrary contained in this Lease notwithstanding, Landlord, upon not less than thirty (30) days prior written notice to Tenant, shall make have the right and shall use all reasonable efforts to relocate substitute, as of a date specified in said notice (the "Effective Date"), other space (the "Substitute Space") in the Building of which the demised premises forms a part as the demised premises hereunder in lieu of the space (the "Prior Space") then constituting the demised premises hereunder immediately prior to the New Premises giving of such notice. If Landlord is unable to procure Substitute Space for Tenant pursuant to the provisions contained herein as soon as is practical after Substantial Completion of the New Premises Effective Date, Landlord Workmay elect to terminate this Lease on a date (the "Termination Date") by giving Tenant ten (10) days prior written notice of Landlord's election to have the term of this Lease so cease and expire. Upon the giving of such notice by Landlord, it being understood the term of this Lease shall cease and agreed by expire on the parties that, notwithstanding Termination Date as if that date were the date of Substantial Completion originally provided in this Lease as the expiration date of the New Premises Landlord Workterm hereof, and Tenant shall have no obligation to relocate remain liable for any obligations of Tenant having accrued prior to the New Premises prior Termination Date.
(b) Prior to June 30the Effective date, 2014 if such an earlier date is not reasonably convenient for Landlord, at Landlord's expense and with Tenant’s business operations. The New Premises Commencement Date 's reasonable cooperation (but at no cost to Tenant), shall furnish necessary moving labor to move Tenant and Tenant's equipment and personal property to the Substitute Space, which Substitute Space shall be substantially equivalent in area to the date upon which New Prior Space and, further, Landlord achieves Substantial Completion shall reimburse Tenant for the cost of transferring its telephone service to the Substitute Space.
(c) Automatically on the Effective Date, the Substitute Space shall constitute the demised premises hereunder and all of the New Premises terms of this Lease shall apply thereto (except that Landlord Work shall not be required to perform any work or furnish any materials with respect to Tenant's installation in the Substitute Space, other than as hereinabove specifically provided), and delivers possession the Prior space shall automatically be deleted from the coverage of this Lease and the New Premises to Tenant subject to term of this Lease insofar as the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant Prior Space only is concerned shall be deemed to be have ceased and expired with the same force and effect as if the Effective Date were originally provided in Default if Tenant has not both: a) relocated this Lease as the expiration date hereof but this Lease shall continue in full force and effect for the full term hereof with respect to the New Premises Substitute Space).
(d) Tenant covenants and b) delivered agrees to quit and surrender vacant full possession of the Existing Premises back Prior Space to Landlord in broom-cleanon the Effective Date free and clear of any leases, de-commissioned tenancies and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery rights of occupancy of anyone claiming by or through Tenant. If Tenant shall fail or refuse to surrender such vacant full possession of the New PremisesPrior Space to Landlord on or before the Effective Date (for any reason other than Landlord's failure to furnish moving labor to Tenant), again subject then and in such event Tenant shall pay to Landlord for each day or fraction thereof that Tenant shall fail to surrender such vacant full possession of the April 30, 2014 date. Tenant hereby agrees Prior Space to Landlord (in addition to all rent and acknowledges that prior additional rent provided to the New Premises Commencement, the Landlord be paid under this Lease shall be Landlord which is applicable from and that following said date after the Landlord Effective Date to the Substitute Space) an agreed-upon sum equal to three times the quotient obtained by dividing (i) the sum of the monthly installment of basic annual rent then payable under this Lease plus one-twelfth (1/12) of all additional rent then payable under this Lease by (ii) thirty (30) (the "Daily Rate for the Prior Space"). Such Daily Rate for the Prior Space is in the nature of liquidated damages to Landlord for Tenant's failure to surrender such vacant full possession of the Prior Space to Landlord on or before the Effective Date. The foregoing provision for payment by Tenant of the Daily Rate for the Prior Space shall become New be without prejudice to Landlord's instituting summary or such other proceedings as Landlord may desire in order to obtain as promptly as possible vacant full possession of the Prior Space. The foregoing provision for payment by Tenant of the Daily Rate for the Prior Space relates solely and directly to Landlord and Tenant's mutual agreement to the daily value of the Prior Space to each of Landlord and Tenant taking into consideration Tenant's agreement to comply with the terms of this Article and to surrender vacant full possession of the Prior Space to Landlord on or before the Effective Date, and that following time being deemed of the New Premises Commencement Date Landlord shall have no further obligations nor liabilities essence; therefore, in addition to Tenant's agreement to make payment of the Daily Rate for the Prior Space for each subject day, Tenant agrees to pay Landlord the total amount of any loss, damage, cost or injury (including attorneys' fees and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.disbursements) suffered by Landlord with regard to any existing or potential transaction which is adversely affected by Tenant's failure or refusal to timely surrender the Prior Space. PLEASE INITIAL [ ] [x] LANDLORD TENANT 2/97 [DIAGRAM]
Appears in 1 contract
Samples: Office Lease (Hanover Capital Mortgage Holdings Inc)
Relocation. During the Relocation Term, Landlord shall have the one time right to substitute for the Relocation Premises other premises within the Project (the "New Premises"), provided:
(a) h The New Premises shall be of comparable size and configuration to the Relocation Premises with the same level of finishes, including fresh paint, carpet and millwork, if applicable, and located on the fourth (41 ) floor or higher in the Building or other building in the Project as the case may be (the "Comparable Space");
(b) the Basic Rent and the Additional Rent with respect to Direct Costs payable under the Lease shall not be increased notwithstanding that such New Premises may contain more rentable square feet than the Relocation Premises and the Relocation Term shall not be required to be extended as a result of such relocation;
(c) Landlord shall pay the reasonable actual out-of-pocket expenses of Tenant for moving from the Relocation Premises to the New Premises, including but not limited to, the cost of relocating Tenant's personal property, fixtures, furniture and equipment, the installation of computer and telephone cabling and replacement of business cards, stationery and brochures to the extent that the suite number of the Relocation Premises is reflected therein;
(d) Landlord at its sole cost and expense shall make reasonable efforts improve the New Premises with tenant improvements and alterations (including but not limited to restrooms and the common areas in the Building) with finishes to the quality which are substantially similar to the Relocation Premises as of the Relocation Commencement Date; and
(e) Landlord shall give Tenant written notice of Landlord's exercise of the right to relocate Tenant to the New Premises as soon as is practical after Substantial Completion of (the New Premises Landlord Work, it being understood and agreed by "Relocation Notice") not less than two hundred seventy (270) days before the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operationsrelocation date. The New Premises Commencement Date Relocation Notice shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession include a reasonably detailed description of the New Premises. If Landlord exercises its right hereunder, again subject the New Premises shall thereafter be deemed for the purposes of the Lease as the Premises as of the relocation date. In the event that the New Premises proposed by Landlord do not qualify as Comparable Space as defined in Section 15(a), then Tenant shall have the right to terminate the Lease. Such right shall be exercised by Tenant giving written notice of the exercise thereof to Landlord within ten (10) days of Tenant's receipt of the Relocation Notice, which notice from Tenant shall state a termination date for the Lease that is not more than two hundred seventy (270) days from the date of such notice (the "Termination Date"). In the event that Tenant exercises its right to terminate in accordance with the provisions of this Section, Landlord shall reimburse Tenant for the unamortized portion of that amount of the Construction Costs (as defined in Exhibit B, the Workletter) expended by Tenant in excess of the Improvement Allowance, plus any similar construction costs expended by Tenant in excess of any improvement allowance with respect to any expansions to the April Relocation Premises, such amortization to be made evenly over the last one hundred twenty (120) months of the Relocation Term (and to be at an annual rate of interest of eight percent (8%). The amount payable to Tenant by Landlord described herein shall be payable no later than thirty (30, 2014 date. Tenant hereby agrees and acknowledges that ) days prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New LandlordTermination Date.
Appears in 1 contract
Relocation. Tenant agrees that within five (5) business days of the New Possession Date (as hereinafter defined) it shall relocate from the Current Premises to that certain premises located on the 19th floor of the Building and consisting of approximately 2,362 square feet as shown "cross-hatched" on the site plan attached hereto as Exhibit A (the "New Premises"), and such relocation shall be in accordance with all the terms and conditions of this Second Amendment. Possession of the New Premises shall be deemed to have been tendered and accepted on the date (the "New Possession Date") Landlord delivers a possession notice to Tenant. Notwithstanding the foregoing, Landlord agrees that it shall not deliver a possession notice to Tenant until it has substantially completed all of the Landlord's Work (as defined in Paragraph 3 below) in the New Premises. Tenant acknowledges and agrees that, subject to the provisions of Paragraph 3 below and any punchlist items relating to Landlord's Work, Tenant is accepting the New Premises "as-is" with no representation and warranty by Landlord as to the condition or suitability of the New Premises for Tenant's intended use. On or before the New Possession Date, Tenant shall make reasonable efforts provide Landlord with written evidence in form and substance satisfactory to Landlord that the insurance Tenant is required to carry pursuant to Paragraph 11 of the Lease covers the New Premises. During the period commencing on the New Possession Date and continuing through and including the date Tenant completely vacates and surrenders the Current Premises, as more particularly described herein, the term "Premises" shall be deemed to refer to both the New Premises and the Current Premises, except as specifically stated herein.
(i) relocate to the New Premises; (ii) commence conducting business therein; and (iii) surrender the Current Premises to Landlord pursuant to Paragraph 21 of the Lease. Tenant may relocate to the New Premises as soon as is practical after Substantial Completion at any time during the Relocation Period. During the period commencing on the New Possession Date and continuing through 11:59 P.M. (Central Standard Time) of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of immediately preceding the New Premises Landlord WorkCommencement Date (as hereinafter defined), Tenant shall have no obligation continue to relocate to pay Base Rent and Base Rent Adjustments, as such terms are defined in the New Premises prior to June 30Lease, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be in the date upon which New Landlord achieves Substantial Completion of amounts and in the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified manner set forth in the Lease within seven (7) days after New Landlord’s delivery and all such items of possession rent determined on the basis of the square footage of the Leased Premises shall be calculated on the basis of 2,362 square feet. Notwithstanding anything to the contrary contained in the Lease or this Second Amendment, Tenant is required to conduct business in the Current Premises through the end of the normal business hours on the date immediately preceding the date Tenant commences to conduct business in the New Premises, again subject to . In the April 30, 2014 date. event that Tenant hereby agrees and acknowledges that does not vacate the Current Premises on or prior to the New Premises CommencementCommencement Date, all of the Landlord under this provisions of the Lease shall continue to apply to the Current Premises and Tenant shall be Landlord considered to be a holdover Tenant in the Current Premises and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities all of the right and remedies with respect to Tenant, such holding over set forth in Paragraph 19 of the Lease and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordavailable at law or in equity.
Appears in 1 contract
Samples: Lease (Medialink Worldwide Inc)
Relocation. Landlord reserves the right at any time prior to the Commencement Date or during the Lease Term upon sixty (60) days' prior written notice to relocate Tenant within the Building provided: (1) that Tenant approves the location and size of the new premises and (2) Landlord pays all reasonable moving costs and relocation costs incurred by Tenant in connection with such move, including, without limitation, costs of reprinting a reasonable amount of stationery, reconnecting computers and telecommunication equipment. If Landlord exercises this right, the written notice to Tenant shall make reasonable efforts to relocate to include a drawing showing the New Premises as soon as is practical after Substantial Completion size and location of the New Premises Landlord Worknew premises. If Tenant approves the new location, it being understood and agreed by the parties thatshall execute an amendment to this Lease which will specify the change in premises, notwithstanding but this Lease shall in no other respect be amended and the date rent payable hereunder shall not xxxxx except for the period actually involved in the moving of Substantial Completion Tenant. If Tenant does not send Landlord written notice of its disapproval of the New Premises Landlord Workproposed relocation within said sixty (60) day period, Tenant shall be conclusively presumed to have no obligation to relocate approved the same. If Tenant shall send a notice disapproving the proposed relocation during said sixty (60) day period, then Landlord, at its option, may (i) rescind the notice of relocation (in which event this Lease shall continue to the New Premises prior to June 30same extent as if no such notice had been sent), 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date or (ii) terminate this Lease upon sixty (60) days' written notice (in which event the rights of the parties shall be the date upon which New Landlord achieves Substantial Completion same as if the Lease had terminated by expiration of the New Premises Lease Term). Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease make its election within seven ten (710) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord first said sixty (60) day period and shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between give Tenant and New Landlordwritten notice thereof specifying its election.
Appears in 1 contract
Samples: Lease Agreement (Corporate Office Properties Trust)
Relocation. Tenant shall make reasonable efforts Grantor reserves the right to relocate the Easement Premises, including those parts thereof referred to herein as: the Header Pipe Easement Area; the Thirty Inch Pipe Easement Area; the Existing Swale and New Culverts Easement Area; the Over flow and Spillway Easement Area; or the Southeast Properties Easement Area as follows:
A. Grantor shall first notify the Grantee of the proposed relocation by mailing notice to the New Premises as soon as is practical after Substantial Completion Grantee at his last address furnished pursuant hereto showing the proposed relocation, probable commencement and completion dates, all by mailing same, postage prepaid, at least 120 days prior to commencement of any such relocation. The notice shall also set forth in engineering terms the entire drainage purpose and proposal contemplated by the relocation including, at a minimum, computations and reasonably specific plan information sufficient to permit, or allow, an engineering analysis of the New Premises Landlord Workproposed drainage system including a comparison to the existing drainage systems.
B. The easement area shall not be moved to any location at or in any manner as a result of which the drainage benefits to Parcel II contemplated by this Agreement are unreasonably reduced, it being understood limited or obstructed in any manner. The Grantor shall at Grantor’s sole cost and agreed expense improve the new easement premises with all drainage improvements as may be determined by the parties that, notwithstanding the date of Substantial Completion mutual agreement of the New Premises Landlord WorkParties’ engineers to assure that the new easement premises shall in all events provide not less than the same drainage benefits to Parcel II as are contemplated by this Agreement.
C. At the completion of the work and acceptance of the same by Grantee, Tenant with such acceptance not to be unreasonably withheld, the Grantor and the Grantee shall have no obligation to relocate each execute and record an easement grant in substantially the same form as this Agreement granting the new easement to the New Premises Grantee in recordable form with return address shown as being to delivered to the Grantee, and shall furnish the Grantee evidence of title satisfactory to the Grantee and title insurance as described in Section 9 above, showing an unencumbered easement in Grantee, whereupon the change in location of the easement premises shall become effective, and appropriate releases of the prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date location shall be executed in recordable form and exchanged between the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30parties hereto, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordtheir successors or assigns.
Appears in 1 contract
Samples: Purchase and Sale Agreement
Relocation. Prior to the last two years of the Renewal Term (but not during the initial Term) and only once during the Renewal Term, Landlord, at its sole expense, on at least one hundred fifty (150) days’ prior written notice to Tenant (“Relocation Notice”) may require Tenant to move from the Premises to another suite of substantially comparable size and decor in the Building or in the Project (“New Premises”) in order to permit Landlord to consolidate the Premises with other adjoining space leased or to be leased to another tenant in the Building. In the event of any such relocation, Landlord shall make reasonable efforts pay all the expenses of preparing and decorating the New Premises so that they will be substantially similar to relocate the Premises and shall also pay the expenses of moving Tenant’s furniture and equipment to the New Premises as soon well as is practical after Substantial Completion of any other reasonable and necessary costs arising directly from the relocation. In the event the New Premises Landlord Workis larger than the Premises, it being understood and agreed the Fixed Rent payable by the parties thatTenant shall not increase, notwithstanding the date of Substantial Completion of however, if the New Premises Landlord Workis smaller than the Premises, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date Fixed Rent shall be recalculated based on the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014new square footage. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to execute any reasonable amendment evidencing the New Premises and b) delivered possession terms of the Existing Premises back to relocation as Landlord may require in broom-clean, de-commissioned and de-contaminated condition as specified its reasonable discretion. Landlord shall advise Tenant in the Lease within seven (7) days after Relocation Notice of the proposed New Landlord’s delivery of possession Premises. If Tenant, in its sole discretion, does not approve of the New Premises, again subject for any reason, then Tenant shall have the right to terminate this Lease by sending written notice to Landlord within thirty (30) days of receipt of the Relocation Notice. Such termination shall be effective as of the date proposed by Landlord for such relocation in the Relocation Notice. In the event Landlord or an affiliate of Landlord constructs a sister building to the April 30Building, 2014 date. Landlord shall use best efforts to relocate Tenant hereby agrees and acknowledges that prior Tenant’s affiliate Xxxxx & Company to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordsister building.
Appears in 1 contract
Relocation. Landlord shall notify Tenant shall make reasonable efforts in writing at least fifteen (15) days prior to the completion of the Landlord’s Work as to the approximate date Landlord anticipates completion of the Landlord’s Work. The “Relocation Date” means that date which is three (3) days after the date Landlord gives Tenant written notice (“Relocation Notice”) that the Sixth Floor Premises is ready for occupancy and Tenant should relocate to the New Premises as Sixth Floor Premises. As soon as is practical after Substantial Completion of possible after, but not later than fifteen (15) days after, the New Premises Landlord WorkRelocation Date, it being understood at Tenant’s sole cost and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Workexpense, Tenant shall have no obligation fully vacated the Existing Premises and removed all its personal property and effects therefrom and relocated into the Sixth Floor Premises, and Tenant should have left the Existing Premises in the condition required under the Lease at termination of the Lease (and the date Tenant does so is hereinunder referred to relocate as the “Vacation Date”). Commencing from and after the Commencement Date for the Sixth Floor Premises and until the Vacation Date, the “Premises” under the Lease shall mean and refer to both the “Sixth Floor Premises” and the “Existing Premises.” Until the Commencement Date for the Sixth Floor Premises, however, Tenant shall continue paying all Rent required to be paid under the Lease with respect to the New Existing Premises prior and shall not be required to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject pay Rent with respect to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014Sixth Floor Premises. Tenant shall be deemed to be in Default if If Tenant has not both: a) relocated to the New Premises and b) delivered possession of vacated the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in by the Lease within seven date fifteen (715) days after New the Relocation Date, then until the Vacation Date, Tenant shall continue paying Rent with respect to the Existing Premises and shall pay Rent with respect to the Sixth Floor Premises until Tenant has fully vacated the Existing Premises and removed all its personal property and effects therefrom; provided that Tenant’s failure to vacate within fifteen (15) days after the Relocation Date shall not constitute a material default under the Lease. Nothing in this Second Amendment is intended to release Tenant from any claims, liabilities or damages Tenant or its agents, employees or contractors may have caused to the Existing Premises. Following the Commencement Date for the Sixth Floor Premises, Tenant shall, within five (5) business days of Landlord’s delivery of possession of the New Premisesrequest to do so, again subject execute and deliver to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises a Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Certificate in such form requested by Landlord.
Appears in 1 contract
Samples: Lease Agreement (Rentech Inc /Co/)
Relocation. Tenant acknowledges that CyberOptics Corporation ("CyberOptics") or its successor or assignee is a tenant of the Building and has, during the Term, a prior right to expand its leased premises into the floor area on which the Premises are located. If CyberOptics properly exercises its expansion right and gives Lessor written notice thereof on or before October 1, 1998, then Lessor shall, on or before November 2, 1998, notify Tenant in writing of such exercise and shall also specify whether Lessor has commenced construction of or will be constructing a second building as part of its Golden Hills Development (the "Phase II Building"). If Lessor has not and will not be constructing the Phase II Building, then Lessor's notice to Tenant shall make reasonable efforts inform Tenant that it must vacate the Premises as of June 30, 1999. In such event, Tenant shall vacate the Premises on or before June 30, 1999, the Lease shall terminate as of June 30, 1999, and the parties hereto shall have no further rights or obligations hereunder except as the same may have accrued prior to the Lease termination date. If Lessor has commenced or will be constructing the Phase II Building, and if Tenant is occupying the Premises at the time of Lessor's notice, then Lessor will further notify Tenant that Lessor will relocate Tenant for the remainder of the Term, effective as of July 1, 1999, to a new premises in the Phase II Building similar in area and appropriateness for Tenant's purposes ("New Premises"). If Tenant is relocated, all of the terms of this Lease (excepting this Section 35) shall remain in full force and effect, Lessor shall pay the expenses of improving the New Premises with improvements comparable to those located in the Premises, and Tenant shall pay all expenses of moving Tenant, its property, signage and equipment to the New Premises, including stationery and telephone relocation costs. Tenant further acknowledges that CyberOptics has a prior right to expand its leased premises into the floor area in the Phase II Building where the New Premises would otherwise be located. If CyberOptics properly exercises its Phase II Building expansion option on or before October 1, 2001, then Lessor shall, on or before October 31, 2001, notify Tenant in writing of such exercise and shall inform Tenant that it must vacate the New Premises as soon as is practical after Substantial Completion of June 30, 2002. In such event, Tenant shall vacate the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to on or before June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date 2002, this Lease shall be the date upon which New Landlord achieves Substantial Completion terminate as of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord2002, and that following the New Premises Commencement Date Landlord parties hereto shall have no further right or obligations nor liabilities hereunder except as the same may have accrued prior to Tenant, and that this the Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordtermination date.
Appears in 1 contract
Samples: Lease (Videolabs Inc)
Relocation. Tenant shall make reasonable efforts to relocate to At any time after the date of this Lease, Landlord may substitute for the Premises other premises in the Building (the “New Premises”), in which event the New Premises as soon as is practical after Substantial Completion of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant thereafter shall be deemed to be the Premises for all purposes under this Lease, provided that: (a) the New Premises shall be similar to the Premises in Default square footage, area, directional views, finishes, configuration and on a floor located in the highrise elevator bank; (b) if Tenant has is then occupying the Premises, Landlord shall give Tenant not both: aless than sixty (60) relocated days prior written notice of such substitution; (c) if Tenant is then occupying the Premises, Landlord shall pay the actual and reasonable expenses of physically moving Tenant, its then existing property and its then existing equipment to the New Premises and bLandlord shall pay the actual and reasonable expenses of replacing the then unusable printed materials of Tenant; (d) delivered possession of Landlord, at its expense, shall improve the Existing New Premises back in a manner substantially similar to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified those in the Premises at the time of such substitution, as mutually agreed between Tenant and Landlord; and (e) Tenant shall execute an amendment to this Lease substituting the New Premises for the Premises described in this Lease and all other provisions of this Lease shall remain in full force and effect. If Tenant fails to execute such amendment within fifteen (15) days of Landlord's demand that such amendment be executed and vacate the Premises described above and occupy the New Premises within thirty (30) days of such demand, then Landlord, at its option, and in addition to any rights available to it whether hereunder or otherwise, may terminate this Lease by giving written notice to Tenant. Landlord and Tenant agree that if the New Premises are not ready for occupancy at the conclusion of said thirty (30) days as a result of Landlord's actions, Tenant shall take possession and occupy the New Premises within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges notification by Landlord that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordare ready for occupancy.
Appears in 1 contract
Samples: Office Building Lease
Relocation. Landlord reserves the right at any time prior to the ---------- Commencement Date or during the Term upon sixty (60) days' prior written notice to relocate Tenant within the Building provided: (1) the new location is similar in size and floor plan, with similar outside views; (2) that Tenant approves the location and size of the new premises and (3) Landlord pays all reasonable moving costs incurred by Tenant in connection with such move. If Landlord exercises this right, the written notice to Tenant shall make reasonable efforts include a drawing showing the size and location of the new premises. If Tenant approves the new location, the parties shall execute an amendment to relocate this Lease which will specify the change in premises and, if applicable, the rent, but this Lease shall in no other respect be amended and the rent payable hereunder shall not abate except for the period acxxxxxy involved in the moving of Tenant and except as may be modified as relating to the New Premises as soon as is practical after Substantial Completion new premises. If Tenant does not send Landlord written notice of its disapproval of the New Premises Landlord Work, it being understood and agreed by proposed relocation within the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Worksixty (60) day period, Tenant shall be conclusively presumed to have no obligation to relocate to approved the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operationssame. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. If Tenant shall be deemed to be send a notice disapproving the proposed relocation during the sixty (60) day period, then Landlord, at its option, may rescind the notice of relocation (in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under which event this Lease shall be continue to the same extent as if no such notice had been sent). Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that make its election within ten (10) days following the New Premises Commencement Date Landlord first sixty (60) day period and shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between give Tenant and New Landlordwritten notice thereof specifying its election.
Appears in 1 contract
Relocation. 16.9.1 The Landlord may during the Term relocate the Tenant shall make reasonable efforts to relocate alternative premises if:
(a) the Landlord gives the Tenant details of a genuine proposal to the New Premises as soon as is practical after Substantial Completion carry out a refurbishment, redevelopment or extension of the New Premises Landlord Work, it being understood and agreed by Building within a reasonably practicable time after the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is relocation that cannot reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers carried out practicably without vacant possession of the New Premises to Premises; and
(b) the Landlord gives the Tenant subject not less than 3 months’ notice (relocation notice) containing details of an alternative premises, and offering the Tenant a new lease of those premises on the same terms as this Lease except that:
(i) the term of the new lease will begin at the earlier of 1 month after the alternative premises are made available to the aforementioned right Tenant for fitout purposes and the day on which the Tenant begins trading from the alternative premises, and will end on the Terminating Date; and
(ii) the rent will be adjusted (if necessary) to take into account the difference in commercial values between the Premises and the alternative premises.
16.9.2 The Landlord must notify the Tenant of the rent it thinks should be payable for the alternative premises when the relocation notice is given.
16.9.3 After receipt of the relocation notice, the Tenant may within 1 month of receipt of the relocation notice terminate this Lease by giving the Landlord termination notice and, in this case, the Lease will terminate 3 months after the date on which the relocation notice is given and the Tenant to defer occupancy prior to June 30must:
(a) vacate the Premises on the terminating date; and
(b) if required by the Landlord, 2014. sign a surrender of lease instrument.
16.9.4 The Tenant shall be is deemed to be in Default have accepted the relocation notice if the Tenant has gives the Landlord a notice accepting it or does not both: give a termination notice under clause 16.9.3 and by virtue of such acceptance the Tenant must:
(a) relocated to sign a new lease of the New Premises alternative premises and pay any duty;
(b) delivered possession fitout the alternative premises in accordance with the requirements of the Existing Premises back to new lease.
16.9.5 The Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in must pay the Lease within seven (7) days after New LandlordTenant’s delivery reasonable costs of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordrelocation.
Appears in 1 contract
Samples: Lease
Relocation. (a) Tenant acknowledges that Landlord shall make reasonable efforts have an absolute right from time to time to relocate the Premises within the Project, at Landlord's cost, at any time during the Lease Term, provided that the premises to which Tenant is relocated (i) shall be no less than eighty-five percent (85%) of the size of the original premises, (ii) shall have the prominence of location and visibility that is reasonably equivalent to or better than the original premises, (iii) shall be located in an area having substantially similar levels of pedestrian foot traffic, and (iv) shall be appropriately configured for the restaurant use of the original premises. If Landlord exercises its right to relocate Tenant pursuant to this Section, Landlord shall notify Tenant in writing (the "Relocation Notice") specifying the location of the new premises. If Tenant objects to the New Premises as soon as is practical after Substantial Completion of new premises on the New Premises Landlord Work, basis that it being understood and agreed by fails to meet the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Workcriteria set forth above, Tenant shall have no obligation to relocate notify Landlord in writing within ten (10) days following the Relocation Notice, specifying its objections to the New Premises prior new premises. If Tenant fails to June 30object within such 10-day period, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if have approved the new premises. If Tenant has not both: a) relocated objects to the New Premises new premises, Landlord and b) delivered possession of Tenant shall meet and confer in an attempt to address Tenant's concerns, but if Landlord is unable to resolve the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease same within seven thirty (730) days after New Landlord’s delivery of possession of the New PremisesRelocation Notice, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under may terminate this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities upon written notice to Tenant, which termination shall be effective sixty (60) days after such notice. If Landlord elects to terminate the Lease under this SECTION 2.3, Landlord shall pay to Tenant the unamortized portion of the TI Costs, provided Tenant is not in default at the time of such termination.
(b) All costs and expenses of relocating to the new premises, including, without limitation, all reasonable costs incurred by Tenant in relocating the new premises, shall be paid by Landlord. If Landlord exercises its right to relocate Tenant, Landlord shall reconstruct Tenant Improvements in the new premises in a form substantially equivalent to the Tenant Improvements constructed pursuant to EXHIBIT C. Within ten (10) days after Landlord has notified Tenant that this it has substantially completed the Tenant Improvements (in accordance with the standards for "Substantial Completion" as set forth in EXHIBIT C) to be constructed by Landlord on the relocated premises, Tenant shall surrender the Premises and the relocated premises shall be deemed the Premises hereunder. During any portion of such 10-day period that Tenant is not conducting business in either premises, rent and all other costs or charges payable hereunder (other than premiums for insurance maintained by Tenant hereunder) shall be abated and the Lease Term shall thereafter be construed as a lease agreement solely between extended for the entire period during which Tenant and New is not doing business. Upon Landlord.'s request, Tenant shall execute an amendment designating the relocated Premises on EXHIBIT B.
Appears in 1 contract
Relocation. Tenant During the term, Landlord shall make reasonable efforts have the right, at any time, upon at least thirty (30) days prior written notice to Tenant, to relocate the Tenant to other space in the New Premises as soon as is practical after Substantial Completion Shopping Center, which new space shall have at least ninety-five percent (95%) of the New Premises Landlord Worksquare footage set forth in Section 1(g) hereof. Notwithstanding the foregoing, it being understood and agreed by should the parties that, notwithstanding term have less than one (1) year remaining as of the effective date of Substantial Completion relocation set forth in said notice, and should Landlord and Tenant be unable after a good faith effort to reach agreement on the terms of the New Premises Landlord Worka renewal or extension of this Lease, Tenant shall have no obligation the option to terminate this Lease as of the effective date of relocation, provided such notice is given in writing to Landlord within thirty (30) days after the date of Landlord's notice. Absent such termination, Tenant shall, not later than the date specified in Landlord's notice, vacate and surrender the Premises, relocate to the New Premises prior new premises, and prepare the new premises for occupancy in substantially the same manner and condition of the Premises. Upon the request of Landlord, Tenant shall execute a supplemental agreement specifying the location of the new premises and the new Base Rent to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operationsbe payable pursuant to this Lease. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work "Base Rent, "property tax costs and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord "operating costs" payable under this Lease shall be the same on a "per square foot" basis, except that they shall be adjusted based upon the differential, if any, in the size of the old Premises and the new premises. Landlord shall reimburse Tenant for the actual expenses of moving Tenant's trade fixtures and that following merchandise from the Premises to the new space, upon written receipt of written verification of payment by Tenant. Except as hereinafter provided, all other expenses incxxxxx by Tenant as a consequence of such move shall be absorbed by Tenaxx. Xxthin thirty (30) days after the date Tenant shall have completed renovation of the new premises and opened for business. Landlord shall reimburse Tenant for the unamortized cost of the leasehold improvements made by Tenant to the old Premises, based upon cost or costs as set forth in an affidavit to be submitted to Landlord, assuming a useful life of 10 years, and accelerated amortization at the rate of 150%, and subject to Landlord's inspection of Tenant's books as set forth below. In the event Tenant shall have amortized the cost of said date improvements (or any parts or components thereof) for tax purposes based on either a shorter useful life or at a more accelerated rate, then such life or rate shall prevail. Landlord shall not be required to reimburse Tenant for any fixtures, inventory or items of personal property which pursuant to the Landlord under terms of this Lease shall become New Landlord, and that following may be removed by Tenant al the New Premises Commencement Date end of the term. Landlord shall have no further obligations nor liabilities the right to inspect such of Tenant, 's books and that records as Landlord may reasonably request xx xxxer to verify the amount which Landlord is required to pay pursuant to this Lease shall thereafter be construed as a lease agreement solely between Tenant and New LandlordSection.
Appears in 1 contract
Samples: Lease Agreement (FNB Bancorp/Ca/)
Relocation. Not more than once during the initial Lease Term of this Lease from and after the commencement of the second (2nd) Lease Year, and only if Landlord provides Tenant with reasonable evidence that Landlord shall require occupancy of the Premises in order to Lease the entire rentable area of the floor on which the Premises are located to another tenant leasing the entire floor, Landlord shall have the option (the “Relocation Option”), on not less than ninety (90) days’ prior notice to Tenant, to relocate Tenant to other premises in the Complex which is reasonably acceptable to Tenant (the “New Premises”) on the date set forth in Landlord’s relocation notice (the “Relocation Date”). The New Premises shall be substantially similar to the Premises in rentable and usable square footage and configuration, and shall have substantially similar exterior views as the Premises. Landlord shall, at its sole cost and expense prior to the Relocation Date, perform all work and improvements to the New Premises pursuant to plans and specifications reasonably approved by Tenant to provide the New Premises substantially similar in all material respects to the Premises immediately prior to the Relocation Date, with finishes and materials substantially equal or better to the Premises as of the Relocation Date, based upon plans and specifications reasonably approved by Landlord and Tenant. Landlord shall, at its sole cost and expense, pay one hundred percent (100%) of the costs and expenses for the (i) construction of the New Premises with improvements which are comparable to the Tenant Improvements in the Premises, (ii) the reasonable costs and expenses to purchase, install and test Tenant’s voice and data cabling and wiring, internal security system in the New Premises, (iv) the reasonable costs and expenses to relocate, reinstall and test Tenant’s furniture, trade fixtures and equipment to the New Premises, and (v) the reasonable costs to replace the then on-hand inventory of business cards and stationary (with comparable stock). Provided Landlord has Substantially Completed the foregoing work, Tenant shall make reasonable efforts to relocate to the New Premises on the Relocation Date. Landlord shall use commercially reasonable efforts to relocate Tenant over a weekend so that Tenant can conduct its business in the New Premises on the Monday immediately following such weekend. On the date that Tenant relocates to the New Premises, (A) Tenant shall deliver the Premises to Landlord "As Is" but in broom clean condition; (B) the New Premises shall be deemed the Premises for all purposes under this Lease; and (C) Tenant shall be released from all obligations with respect to the Premises from and after such date other than those obligations that survive the expiration or sooner termination of this Lease, such as soon as is practical after Substantial Completion the reconciliation of Operating Charges in accordance with Article 5 hereof. In the event that the rentable square footage of the New Premises Landlord Work, it being understood and agreed by is less than the parties that, notwithstanding rentable square footage of the Premises as of the date of Substantial Completion such relocation, Base Rent, Additional Rent and Tenant’s Proportionate Share shall be adjusted based upon such lesser square footage. In the event that the rentable square footage of the New Premises is greater than the rentable square footage of the Premises as of the date of such relocation, Base Rent, Additional Rent and Tenant’s Proportionate Share shall not be increased. Landlord Workand Tenant agree to execute an amendment to this Lease reflecting the appropriate revisions; however, Tenant shall have no obligation the failure to relocate to the New Premises prior to June 30, 2014 if enter into such an earlier date is amendment shall not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be affect the date upon which New Landlord achieves Substantial Completion operation of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New LandlordSection.
Appears in 1 contract
Samples: Lease Agreement (Twinlab Consolidated Holdings, Inc.)
Relocation. Tenant shall make reasonable efforts to vacate the Surrendered Premises on or before February 15, 2002. Tenant shall relocate all of its equipment, furnishings and other personal property to the New reconfigured Premises, all at Tenant's expense, except that Tenant shall leave in the Surrendered Premises and quit claims to Landlord those items described in attached Schedule 1. Tenant shall leave the Surrendered Premises in the same condition as soon as it is practical after Substantial Completion required to leave the Premises upon expiration or sooner termination of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014Lease term. Tenant shall be deemed responsible to Landlord for any damage caused to the Surrendered Premises or to other property of Landlord in connection with Tenant's removal of property from and vacation of the Surrendered Premises. Tenant shall not remove any improvements made in the Surrendered Premises. Landlord shall approve in writing in advance the location of the work station cubicles that Tenant may remove, and that any work station cubicles removed shall be removed from the Surrendered Premises only and in Default if accordance with the Building property manager's instructions. Without limiting the foregoing, Tenant shall leave in place all existing Cap Five wiring/cabling from cubicles that Tenant removes from the third floor as further described on attached Schedule 1, neatly bundled, so that it may be reused in the future. If Tenant has not both: a) relocated to fully performed all its obligations under this Section 4 by the New Premises close of business on February 15, 2002, then Tenant shall pay on demand from Landlord the sum of $1,760.44 per day for each day beginning on the Effective Date and b) delivered possession continuing until the date on which all Tenant's Section 4 obligations are fully performed. Notwithstanding the foregoing, if during the remaining term of this Lease Landlord notifies Tenant that it requires some or all of the Existing Premises back remaining cubicles on the third floor to Landlord be removed, then Tenant shall remove at its expense the cubicles identified by Landlord, using the same procedures as are described in broom-cleanthis Amendment, de-commissioned and de-contaminated condition as specified in the Lease within seven fifteen (715) days after New receipt of Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord's notice.
Appears in 1 contract
Samples: Lease (Imagex Com Inc)
Relocation. Landlord, at its sole expense, on at least ninety (90) days’ prior written notice (“Notice”) to Tenant, may require Tenant to move from the Premises to another suite of substantially comparable quality, size and decor in the Building or in the Project in order to permit Landlord to consolidate the Premises with other adjoining space leased or to be leased to another tenant in the Building, or to allow Landlord to perform work on the Building; provided, however, that Tenant shall make reasonable efforts have the right to terminate this Lease by written notice given to Landlord not more than thirty (30) days after Tenant’s receipt of Notice to relocate and in such event the Lease shall terminate ninety (90) days following the Notice date. In the event of any such relocation, Landlord shall pay all the reasonable expenses (a) of preparing and decorating the new premises so that they will be substantially similar to the New Premises as soon as is practical after Substantial Completion Premises, (b) of moving Tenant’s furniture and equipment to the new premises (including Tenant’s data and communication wiring and cabling), and (c) incurred and documented by Tenant, up to a maximum amount of $2,500.00, in notifying its clients of such relocation, obtaining new letterhead and business cards, and other incidental expenses related directly to Tenant’s relocation. Furthermore, in the event of any such relocation, if the rentable square footage of the New Premises Landlord Work, it being understood and agreed by new premises is greater than the parties that, notwithstanding the date of Substantial Completion rentable square footage of the New Premises Landlord Workoriginal Premises, Tenant shall have no obligation not be required to relocate to the New Premises prior to June 30pay any amount of rent, 2014 if such an earlier date is not reasonably convenient for including Fixed Rent and Tenant’s business operations. The New Premises Commencement Date shall be the date upon Share of Recognized Expenses, in excess of that which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord would pay under this Lease shall be Landlord and that following said date had the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed not been relocated as a lease agreement solely between Tenant and New Landlordaforesaid,.
Appears in 1 contract
Samples: Lease (Cadista Holdings Inc.)
Relocation. Landlord may, at any time, but on only one (1) occasion, relocate Tenant to another area of the Building (herein referred to as “new premises”) providing the new premises shall make be substantially similar in size, location (must be on the same floor or higher), utility, window line, quality, appearance, and use for Tenant's purposes. If Tenant is already occupying the Premises at the time Landlord exercises the rights granted by this Article, Landlord, at its expense, shall remove, relocate, and reinstall Tenant’s equipment, furniture, and fixtures, including all wiring and cabling in the new premises and redecorate the new premises so that they will be substantially the same as the former Premises, all at Landlord’s sole cost and expense. In addition, Landlord shall pay all reasonable efforts out-of-pocket costs directly related to relocate such relocation, including, without limitation, any other costs necessary to improve the new premises to the New Premises same level of finish as soon as is practical after Substantial Completion existed in the original Premises, wiring/cabling costs, moving costs, and the cost of the New Premises stationery and similar items rendered useless by such relocation. Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, shall give Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if at least ninety (90) days’ notice before making such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014change. Tenant shall cooperate with Landlord in all reasonable ways to facilitate the move. Tenant may elect to have the physical move occur during weekend or evening hours in order to minimize any effect on Tenant’s business. Tenant shall not be deemed required to physically move until such time as the new premises is ready for business to be in Default if Tenant has not both: a) relocated to conducted therefrom. If the New Premises and b) delivered possession of new premises is larger than the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New original Premises, again subject to the April 30then (i) Tenant’s Share shall be adjusted proportionately, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement(ii) Base Rent shall be reduced so that, when combined with Tenant’s Share of Operating Expenses and Taxes, the Landlord under total amount due from Tenant in accordance with this Lease for Base Rent, Operating Expenses, and Taxes does not exceed the amounts that would have been payable for the original Premises. If the new premises are smaller than the original Premises, then Base Rent and Tenant’s Share shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordreduced proportionately.
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Relocation. Tenant acknowledges that, upon not less than thirty (30) days’ prior written notice from Landlord, Landlord shall have the right to relocate Tenant to another premises within the Xxxxxx Technology Park II Project. Tenant acknowledges that such relocation right reserved to Landlord shall be exercisable in Landlord’s sole discretion, for purposes of accomplishing Landlord’s plan for the delicate Tenant mix and harmony within the Project; provided, however, that any such relocation shall be at Landlord’s expense but only to the extent necessary to insure that upon such relocation Tenant shall make reasonable efforts occupy a Premises of substantially the same square footage, have similar views, utility capacity, and basic amenities as were provided to relocate to the New Premises Tenant as soon as is practical after Substantial Completion part of the New Premises Landlord Work, it being understood and agreed by leased hereunder. The parties acknowledge that the parties that, notwithstanding the date nature of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operationsmay require Tenant to obtain certain licenses, approvals and/or permits from regulatory authorities (which are location-specific) in order to operate its business. Landlord agrees to bear all reasonable costs of obtaining such licenses, approvals and permits for the alternate premises. In addition, Landlord shall bear all reasonable direct expenses of relocating Tenant’s furnishings, trade fixtures and equipment, to the new premises. The New relocation will take place over a weekend to minimize disruption to Tenant’s business. Upon the completion of such relocation, all references in this Lease to the Premises Commencement Date shall be refer to the date new premises. Tenant shall, upon which New Landlord achieves Substantial Completion request by Landlord, execute an amendment to this Lease reflecting the substitution of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordother premises pursuant hereto.
Appears in 1 contract
Relocation. Tenant shall make reasonable efforts Upon request of the LESSOR, XXXXXX agrees to relocate its equipment on a temporary basis to another location on the New Property, hereinafter referred to as the “Temporary Relocation,” for the purpose of LESSOR performing maintenance, repair or similar work at the Property or on the Tower provided: (a) the Temporary Relocation is similar to LESSEE’s existing location in size and is fully compatible for LESSEE’s use, in LESSEE’s reasonable determination; (b) LESSOR gives LESSEE at least ninety (90) days written notice prior to requiring LESSEE to relocate; (c) LESSEE’s use at the Premises as soon as is practical not interrupted or diminished during the relocation and LESSEE is allowed, if necessary, in LESSEE’s reasonable determination, to place a temporary installation on the Property during any such relocation; and (d) upon the completion of any maintenance, repair or similar work by XXXXXX, LESSEE is permitted to return to its original location. In the event that relocation is deemed impracticable within the ninety (90) day notice period, LESSEE may issue a written notice of termination effective after Substantial Completion of the New Premises Landlord Work, it being understood and agreed by 180 days unless the parties thatagree in writing to a different termination date. In the event of any relocation or Temporary Relocation, notwithstanding LESSEE shall be responsible for all of its costs, fees and expenses in connection with the date first relocation or Temporary Relocation in any five (5) year period; if there are any additional relocation or Temporary Relocation, then the actual and reasonably third-party costs, fees and expenses incurred by LESSEE in connection therewith will be credit to LESSEE against future rental obligations. LESSEE shall provide evidence of Substantial Completion of the New Premises Landlord Worksuch costs, Tenant shall have no obligation to relocate to the New Premises fees and expenses at least 30 days prior to June 30, 2014 if crediting such an earlier date is not reasonably convenient for Tenant’s business operationsamounts against rental obligations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.V
Appears in 1 contract
Samples: Water Tower Lease Agreement
Relocation. Landlord, at its expense, at any one time during the Term, may one-time relocate Tenant shall make from the Premises to second (2nd) floor or higher space of reasonably comparable size, view, layout and utility ("Relocation Space") within the Building or other buildings within the Project upon at least 90 calendar days' prior written notice to Tenant. Expenses to be paid by Landlord, within thirty (30) days following delivery of an invoice by Tenant to Landlord, are Tenant's reasonable efforts to relocate and actual expenses resulting from the physical relocation of Tenant's furniture, fixtures, cabling and equipment to the New Premises as soon as is practical after Substantial Completion Relocation Space. Landlord, at its sole expense, shall provide Tenant with tenant improvements in the Relocation Space at least equal in quality to those in the Premises, which tenant improvements shall be substantially completed prior to the date Tenant has to vacate and surrender possession of the New original Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, to Landlord. Tenant shall have no obligation to relocate remove any tenant improvements, Alterations or cabling from the original Premises if Landlord relocates Tenant from the original Premises to the New Premises prior Relocation Space pursuant to June 30this Section 21. From and after the date of the relocation, 2014 "Premises" shall refer to the Relocation Space into which Tenant has been moved and the Base Rent and Tenant's Pro Rata Share shall be adjusted based on the rentable square footage of the Relocation Space; provided, however, if such an earlier date is not reasonably convenient for (a) the Relocation Space contains fewer rentable square feet than the original Premises, then Tenant’s business operations. The New Premises Commencement Date Base Rent obligation and Tenant’s Pro Rata Share shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and proportionately reduced or (b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in Relocation Space contains more rentable square feet than the Lease within seven (7) days after New Landlord’s delivery of possession of the New original Premises, again subject to the April 30, 2014 date. Tenant hereby agrees then Tenant’s Base Rent obligation and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease Tenant’s Pro Rata Share shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed not increase as a lease agreement solely between Tenant and New Landlordresult of such relocation.
Appears in 1 contract
Relocation. Landlord, at its sole expense, on at least 120 days’ prior written notice to Tenant, may require Tenant to move from the Premises to another suite of substantially comparable size and decor in the Building or in the Complex. In the event of any such relocation, Landlord shall pay all the expenses: (a) of preparing and decorating the new premises so that they will be substantially similar to the Premises; (b) of moving Tenant’s furniture and equipment to the new premises (including Tenant’s data and communication wiring and cabling); and (c) that Tenant actually and reasonably incurs out-of-pocket (and which Tenant can document with written records) in connection with Tenant notifying its clients of such relocation, obtaining new letterhead and business cards, and other incidental expenses related directly to Tenaxx’x xelocation. Tenant shall make execute any reasonable efforts amendment evidencing the terms of the relocation as Landlord may require in its reasonable discretion. Upon the effective date of the relocation: (i) the description of the Premises set forth in this Lease shall, without further act on the part of Landlord or Tenant, be deemed amended so that the new premises shall, for all purposes, be deemed the Premises hereunder, and all of the terms, covenants, conditions, provisions, and agreements of this Lease, including those agreements to relocate pay Rent (at the same rate per rentable square foot), shall continue in full force and effect and shall apply to the New Premises as soon as is practical after Substantial Completion of new premises; and (ii) Tenant shall move into the New Premises Landlord Work, it being understood and agreed by new premises. Notwithstanding anything to the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Workcontrary, Tenant shall have no obligation the right to relocate to terminate the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right Lease by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back written notice to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven not more than ten (710) days after New Tenaxx’x xeceipt of Landlord’s delivery of possession of the New Premisesrelocation notice and, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencementin such event, the Landlord under this Lease shall be terminate on the date that is sixty (60) days after Landxxxx’x xeceipt of Tenant’s termination notice unless Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordrevokes its relocation notice within ten (10) days from receipt of Tenaxx’x xermination notice.
Appears in 1 contract
Relocation. Tenant shall make reasonable efforts to relocate to the New Premises Effective as soon as is practical after Substantial Completion of the New Premises Effective Date (defined below), Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities leases to Tenant, and that this Tenant hereby leases from Landlord, the Relocation Premises on the terms and conditions of the Lease as herein modified. Accordingly, on the Effective Date, (a) subject to Section 10 hereof, the Lease shall terminate as to the Current Premises, (b) the Relocation Premises shall be the “Premises”, and (c) the monthly Basic Rent shall be as set forth below. Tenant accepts the Relocation Premises in an “AS-IS” condition, and Landlord shall not be required to perform any demolition or tenant-finish work therein or provide any allowances therefor, except as expressly set forth in Section 6 below. As used herein, the “Effective Date” means the earliest of (1) the date on which Tenant occupies any portion of the Relocation Premises and begins conducting business therein, (2) the date on which the Work (as defined in Exhibit B hereto) in the Relocation Premises is Substantially Completed (as defined in Exhibit B hereto), or (3) the date on which the Work in the Relocation Premises would have been Substantially Completed but for the occurrence of any Tenant Delay Days (as defined in Exhibit B hereto). Landlord and Tenant presently anticipate that possession of the Relocation Premises will be tendered to Tenant in the condition required by this Amendment on or about the 120th day following full execution of this Amendment by Landlord and Tenant the “Estimated Delivery Date”). If Landlord is unable to tender possession of the Relocation Premises in such condition to Tenant by the Estimated Delivery Date, then (A) the validity of this Amendment or the Lease shall not be affected or impaired thereby, (B) Landlord shall not be in default hereunder or be liable for damages therefor, and (C) Tenant shall accept possession of the Relocation Premises when Landlord tenders possession thereof to Tenant. Notwithstanding the foregoing, if the Work in the Relocation Premises is not Substantially Completed by the Abatement Date, daily Basic Rent for the Current Premises shall be abated for each day thereafter and ending on the day Landlord tenders possession of the Relocation Premises (with the Work to be construed as performed by Landlord therein Substantially Completed). The abatement rights afforded to Tenant under this Section 1 shall be Tenant’s sole remedy for Landlord’s failure to timely Substantially Complete the Work in the Relocation Premises. As used herein, “Abatement Date” means the Estimated Delivery Date, plus the number of Tenant Delay Days and the number of Force Majeure Delay Days. As used herein, “Force Majeure Delay Days” means any delay in achieving Substantial Completion with respect to the Work for the reasons specified in Section 25.3 of the Original Lease. Within ten business days following Landlord’s written request therefor, Tenant shall execute and deliver to Landlord a lease agreement solely between letter substantially in the form of Exhibit C hereto confirming (i) the Effective Date, (ii) that Tenant has accepted the Relocation Premises, and New Landlord(iii) that Landlord has performed all of its obligations with respect to the Relocation Premises (except for punch-list items specified in such letter); however, the failure of the parties to execute such letter shall not defer the Effective Date or otherwise invalidate the Lease or this Amendment.
Appears in 1 contract
Samples: Lease Agreement (Mimecast LTD)
Relocation. Tenant shall make reasonable efforts to relocate to the New Premises as soon as is practical after Substantial Completion For purposes of the New First Floor Additional Premises only, the following terms and provisions regarding relocation shall be applicable: "Landlord Workreserves the right to designate another location in the Building for the First Floor Additional Premises at any time during the Lease Term, it being understood and agreed by if Landlord elects to so designate a new location for the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord WorkFirst Floor Additional Premises, Tenant shall have no obligation to relocate to will vacate the New old First Floor Additional Premises prior to June 30and move into the new First Floor Additional Premises (which will contain substantially the same number of square feet of Rentable Space as the old First Floor Additional Premises) when the finish-out improvements therein are substantially completed; provided, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30however, 2014. that Tenant shall be deemed notified in writing at least ninety (90) days prior to be said relocation, and Landlord shall pay all reasonable out-of-pocket moving expenses and all reasonable expenses for redesigning the new First Floor Additional Premises in Default if Tenant has not both: a) relocated a manner reasonably comparable to the New Premises and b) delivered possession design of the Existing old First Floor Additional Premises. In the event the First Floor Additional Premises back to Landlord in broom-cleanare relocated, de-commissioned Base Rental and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease 's Additional Rental shall thereafter be construed as a lease agreement solely between Tenant and New Landlordcalculated hereunder on the basis of the total Rentable Space of the new First Floor Additional Premises."
Appears in 1 contract
Relocation. 16.9.1 The Landlord may during the Term relocate the Tenant shall make reasonable efforts to relocate alternative premises if:
(a) the Landlord gives the Tenant details of a genuine proposal to the New Premises as soon as is practical after Substantial Completion carry out a refurbishment, redevelopment or extension of the New Premises Landlord Work, it being understood and agreed by Building within a reasonably practicable time after the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30, 2014 if such an earlier date is relocation that cannot reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers carried out practicably without vacant possession of the New Premises to Premises; and
(b) the Landlord gives the Tenant subject not less than 3 months’ notice (relocation notice) containing details of an alternative premises, and offering the Tenant a new lease of those premises on the same terms as this Lease except that:
(i) the term of the new lease will begin at the earlier of 1 month after the alternative premises are made available to the aforementioned right Tenant for fitout purposes and the day on which the Tenant begins trading from the alternative premises, and will end on the Terminating Date; and
(ii) the rent will be adjusted (if necessary) to take into account the difference in commercial values between the Premises and the alternative premises.
16.9.2 The Landlord must notify the Tenant of the rent it thinks should be payable for the alternative premises when the relocation notice is given.
16.9.3 After receipt of the relocation notice, the Tenant may within 1 month of receipt of the relocation notice terminate this Lease by giving the Landlord termination notice and, in this case, this Lease will terminate 3 months after the date on which the relocation notice is given and the Tenant to defer occupancy prior to June 30must:
(a) vacate the Premises on the terminating date; and
(b) if required by the Landlord, 2014. sign a surrender of lease instrument.
16.9.4 The Tenant shall be is deemed to be in Default have accepted the relocation notice if the Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, gives the Landlord a notice accepting it or does not give a termination notice under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.clause
Appears in 1 contract
Samples: Lease Agreement
Relocation. Landlord shall have the right, upon at least ninety (90)-days’ Notice to Tenant shall make reasonable efforts (“Relocation Notice”), to relocate Tenant to other premises (“New Premises”) within the Shopping Center; subject, however, to the following terms and conditions: (a) The New Premises shall have approximately the same Floor Area as is contained in the Premises, (b) the New Premises shall be leased to Tenant on the same terms and conditions as soon as is practical after Substantial Completion provided in this Lease, except that there shall be a proportionate adjustment of Base Rent, Breakpoint and other charges based upon the Floor Area in the New Premises, (c) Landlord shall pay to Tenant, within thirty (30) days of the date Tenant initially opens for business in the New Premises, those expenses reasonably incurred by Tenant in connection with the relocation of Tenant’s personal property; provided, however, Tenant has first provided Landlord with an itemized list of these expenses (accompanied with copies of invoices and proofs of payment of same), and (d) Landlord shall either perform and pay, or cause Tenant to perform and Landlord shall pay for all reasonable costs of the leasehold improvements to be constructed at the New Premises and such leasehold improvements shall be substantially similar to the leasehold improvements in the Premises. In its Relocation Notice, Landlord Work, it being understood and agreed by shall specify which party shall be responsible for construction of the parties that, notwithstanding the date of Substantial Completion of leasehold improvements in the New Premises Landlord Workand set forth a timetable for completion of the leasehold improvements in the New Premises. If the New Premises is unacceptable to Tenant for any reason, Tenant shall have no obligation the right as its sole and exclusive remedy, upon Notice to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease given within seven thirty (730) days after New Landlord’s delivery of possession of the New PremisesRelocation Notice, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under terminate this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date on thirty (30)-days’ Notice. Landlord shall have no further obligations nor liabilities pay to Tenant, within sixty (60) days after said Notice and that this Lease upon vacation of the Premises by Tenant, the unamortized book value of Tenant’s leasehold improvements, excluding items removable by Tenant at the expiration of the Term pursuant to Section 21.10. For purposes of calculating the book value of Tenant’s leasehold improvements, the amount of the Tenant Improvement Allowance, if any, shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.excluded
Appears in 1 contract
Samples: Retail Lease (Yoshiharu Global Co.)
Relocation. a) Landlord must provide Tenant shall make reasonable efforts to relocate to at least six (6) months’ prior written notice of any repairs, maintenance or other work (the New Premises as soon as is practical after Substantial Completion “Work”) during the Term of the New Premises Landlord Work, it being understood and agreed by Lease which would require the parties that, notwithstanding the date of Substantial Completion temporary relocation of the New Premises Antenna Facilities. Landlord agrees that the Work will not limit or interfere with Tenant’s Permitted Uses of the Premises. Landlord will reimburse Tenant for all expenses incurred by Tenant required to accommodate the Work. If necessary, in Tenant’s sole determination, Tenant may elect to install a temporary communications facility (e.g. a “cell on wheels,” or “COW”) in another mutually agreeable location on the Property that provides Tenant coverage and service levels similar to those of the Antenna Facilities at the original location, while the Work is being performed. Tenant shall have no obligation the right to relocate reinstall the Antenna Facilities immediately upon the completion of the Work. Tenant or its designee shall have the right to accompany Landlord, its agents or contractors whenever the Work is being performed on the Premises. Notwithstanding anything to the New Premises prior contrary, Landlord shall not have the right to June 30permanently relocate the Antenna Facilities except as set forth herein.
b) If Landlord desires to redevelop, 2014 if such an earlier date is not reasonably convenient for modify, remodel, or in any way alter its Property or any improvements thereon (“Redevelopment”), Landlord shall in good faith use its best efforts to fully accommodate Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion continuing use of the New Premises Landlord Work and delivers possession Premises. If both parties to this Agreement determine that the Redevelopment necessitates permanent relocation of the New Premises to Tenant Antenna Facilities, Landlord shall have the right, subject to the aforementioned right following provisions of this section, to relocate the Antenna Facilities, or any part thereof, to an alternate location on the Property (the “Relocation Premises”), provided, however, that: (i) Landlord may only relocate Tenant once during the Term; (ii) Landlord may only relocate Tenant after the Initial Term; (iii) Landlord must give Tenant not less than twelve (12) months’ written notice prior to such relocation; (iv) all costs and expenses associated with or arising out of such relocation (including, without limitation, approval and permitting costs) shall be paid by Landlord; (v) such relocation shall be performed exclusively by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.or its agents; and
Appears in 1 contract
Samples: Site Lease Agreement
Relocation. Landlord reserves the right at any time prior to the Commencement Date or during the Term upon sixty (60) days' prior written notice to relocate Tenant within the Building provided: (1) that Tenant approves the location and size of the new premises, which shall be comparable space to the Premises, and (2) Landlord pays all reasonable moving costs incurred by Tenant in connection with such move. If Landlord exercises this right, the written notice to Tenant shall make reasonable efforts to relocate to include a drawing showing the New Premises as soon as is practical after Substantial Completion size and location of the New Premises Landlord Worknew premises. If Tenant approves the new location, it being understood and agreed by the parties thatshall execute an amendment to this Lease which will specify the change in premises, notwithstanding but this Lease shall in no other respect be amended and the date rent payable hereunder shall not xxxxx except for the period actually involved in the moving of Substantial Completion Tenant. If Tenant does not send Landlord written notice of its disapproval of the New Premises Landlord Workproposed relocation within the seventy-five (75) day period, Tenant shall be conclusively presumed to have no obligation to relocate approved the same. If Tenant shall send a notice disapproving the proposed relocation during the seventy-five (75) day period, then Landlord, at its option, may (i) rescind the notice of relocation (in which event this Lease shall continue to the New Premises prior to June 30same extent as if no such notice had been sent), 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date or (ii) terminate this Lease upon seventy-five (75) days' written notice (in which event the rights of the parties shall be the date upon which New Landlord achieves Substantial Completion same as if the Lease had terminated by expiration of the New Premises Term). Landlord Work shall make its election within ten (10) days following the first seventy-five (75) day period and delivers possession of shall give Tenant written notice thereof specifying its election. In addition, if Landlord exercises its relocation rights in accordance with this Section, Base Rent due under the New Premises to Tenant subject to amended Lease for the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant new premises shall be deemed to be in Default if Tenant has not both: aabated for a period of fifteen (15) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlorddays.
Appears in 1 contract
Relocation. a) Landlord must provide Tenant shall make reasonable efforts to relocate to at least three (3) months written notice of any repairs, maintenance or other work (the New Premises as soon as is practical after Substantial Completion “Work”) during the Term of the New Premises Landlord Work, it being understood and agreed by Lease which would require the parties that, notwithstanding the date of Substantial Completion temporary relocation of the New Premises Antenna Facilities. Landlord agrees that the Work will not limit or interfere with Tenant’s Permitted Uses of the Premises. Landlord will reimburse Tenant for all expenses incurred by Tenant required to accommodate the Work. If necessary, in Tenant’s sole determination, Tenant may elect to install a temporary communications facility (e.g. a “cell on wheels,” or “COW”) in another mutually agreeable location on the Property that provides Tenant coverage and service levels similar to those of the Antenna Facilities at the original location, while the Work is being performed. Tenant shall have no obligation the right to relocate reinstall its Antenna Facilities immediately upon the completion of the Work. Tenant or its designee shall have the right to accompany Landlord, its agents or contractors whenever the Work is being performed on the Premises. Notwithstanding anything to the New Premises prior contrary, Landlord shall not have the right to June 30permanently relocate the Antenna Facilities except as set forth herein.
b) If Landlord desires to redevelop, 2014 if such an earlier date is not reasonably convenient for modify, remodel, or in any way alter its Property or any improvements thereon (“Redevelopment”), Landlord shall in good faith use its best efforts to fully accommodate Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion continuing use of the New Premises Landlord Work and delivers possession Premises. If both parties to this Lease determine that the Redevelopment necessitates permanent relocation of the New Premises to Tenant Antenna Facilities, Landlord shall have the right, subject to the aforementioned right by Tenant following provisions of this section, to defer occupancy prior relocate the Antenna Facilities, or any part thereof, to June 30an alternate location on the Property (the “Relocation Premises”), 2014. Tenant shall be deemed to be in Default if Tenant has not bothprovided, however, that: a(i) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlord.may only
Appears in 1 contract
Samples: Site Lease Agreement
Relocation. The Landlord will have the right to require the Tenant to vacate the Premises and to surrender the leasehold interest hereby created so far as it relates to the Premises with effect as at any date during the Term on the following terms and conditions:
(a) the Landlord may exercise its right under this Article by giving the Tenant no less than ninety (90) days' written notice (the "Relocation Notice") of the date (referred to in this Article as the "Effective Date") on which the Tenant will be required to vacate the Premises and providing particulars of the other matters required to be dealt with in accordance with the following provisions of this Article;
(b) the Landlord will provide the Tenant with alternate premises in the Building (which alternate premises are herein called the "New Premises");
(c) the utility of the New Premises, including the improvements therein, shall make reasonable efforts be either substantially the same in area and layout (but need not have the same orientation) as the Premises or for a larger usable area than the Premises at no additional cost to relocate the Tenant; and if the New Premises are not in that condition when the Relocation Notice is given, then the New Premises will be brought into that condition by the Landlord on or before the Effective Date at the sole cost and expense of the Landlord; Notwithstanding the generality of the foregoing, unless the Landlord obtains the prior written consent of the Tenant, the floor of the Building that the New Premises is located on shall be on at least the same floor of the Building as the Premises. In no case shall the New Premises be lower than floor 7;
(d) unless the Landlord obtains the prior written consent of the Tenant, the New Premises shall not be materially smaller than the Premises hereby demised, and if such consent of the Tenant is obtained, then the Annual Base Rent hereof shall be reduced in proportion to the reduction in the Rentable Area of the New Premises;
(e) the Tenant will execute an indenture supplemental to this Lease by which
(i) the Tenant will surrender its leasehold interest in the Premises with effect as at the Effective Date;
(ii) the Landlord will accept that surrender;
(iii) such surrender shall be without prejudice to the rights and remedies of the Landlord and the Tenant accruing on or before the Effective Date and without waiver of any default then existing under the Lease or of the rights and remedies of the Landlord with respect to any default existing on the Effective Date; and by which all such rights, remedies and defaults shall continue after the Effective Date as if the New Premises had been the premises demised by this Lease when any default occurred under this Lease and throughout the Term hereby granted; and
(iv) the provisions of this Lease, save as otherwise herein expressly provided, shall apply with respect to the New Premises as soon fully and effectively from and after the Effective Date as is practical after Substantial Completion of if the New Premises had been the premises hereby demised;
(f) the supplemental indenture shall be in such form as the Landlord Work, it being understood may reasonably require and agreed shall be executed by the Tenant and delivered to the Landlord prior to the Effective Date and shall thereupon promptly be executed and delivered to the Landlord;
(g) if the parties that, notwithstanding the date of Substantial Completion hereto shall agree that any of the New particulars provided for in the Relocation Notice shall be amended or supplemented in any way during the period between the giving of the Relocation Notice and the Effective Date, the Relocation Notice shall remain effective and there shall be no change in the Effective Date unless the parties shall specifically agree in writing to a change in the Effective Date;
(h) the Landlord will pay to the Tenant by way of reimbursement to the Tenant all reasonable costs actually incurred by the Tenant as a result of the relocation arising under this Article 25 including without limitation costs incurred in changing the Tenant's stationery and business cards and other like expenses but excluding any lost revenue or other intangible costs; and other like expenses, and the Landlord will change the Building Directory; and
(i) the moving of the Tenant from the Premises Landlord Work, Tenant shall have no obligation to relocate to the New Premises prior to June 30shall take place on a weekend, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date practicable, and shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition accomplished as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencement, the Landlord under this Lease shall be Landlord and that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed quickly as a lease agreement solely between Tenant and New Landlordis reasonably practicable.
Appears in 1 contract
Relocation. Tenant 37.1 The Landlord shall make reasonable efforts to relocate be entitled at any time prior to the New Premises as soon as is practical after Substantial Completion Commencement Date or during the currency of the New Premises Landlord Work, it being understood and agreed by the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation this Lease to relocate offer to the New Premises prior to June 30, 2014 if Tenant reasonably comparative alternative premises elsewhere in the Building [“the alternative premises”]. Notice of such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date offer shall be given to the Tenant stating the asking rental that will be payable for the alternative premises and the date upon which New the same will be available (which date in the case of relocation after the commencement of this Lease will not be less than 6 [six] months after the date of such notice). The offer shall further state the amount which the Landlord achieves Substantial Completion of offers the New Premises Landlord Work Tenant as a reasonable contribution to the Tenant’s moving costs. The rental and delivers possession of the New Premises to Tenant moving costs shall be subject to the aforementioned right by arbitration or adjudication as referred to below in this clause 37.
37.2 Should such offer be accepted the Tenant will move to defer occupancy prior alternative premises on the date stated in the notice and all the provisions of this Lease will thereafter apply to June 30the alternative premises mutatis mutandis other than the basic rental which in the absence of agreement between the parties before the expiry of the time stated in the offer for acceptance, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated the then current market rental appropriate to the New Premises and b) delivered possession premises of the Existing Premises back nature of the alternative premises as determined by an Independent Valuer appointed by the parties jointly, but in whose absence of agreement on the appointment of such Valuer, by the President of the South African Institute of Valuers, for that purpose, which Valuer shall act as an expert, not as arbitrator. The decision of such Valuer, both as to findings and as to costs, shall be binding on the Landlord in broomand Tenant. Such Valuer shall render his decision within two weeks of hearing evidence and/or receiving written statements of case from the parties, which parties shall co-cleanoperate to have the matter heard expeditiously. The Valuer shall not be bound by the Arbitration Act. The provisions of this clause shall apply mutatis mutandis to the Tenant’s moving costs, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery absence of possession agreement thereon.
37.3 Should the alternative premises be premises existing at the time the Leased Premises stated in 1.3 of the New PremisesSchedule were occupied by the Tenant, again subject then the basic monthly and turnover rates stipulated or calculable herein shall remain unchanged but if the alternative premises are newly constructed, such Valuer, in the absence of agreement between the parties, shall determine also the then prevailing market rates of rental and escalation and turnover rental for the alternative premises.
37.4 Should the Tenant fail to accept such offer within 14 [fourteen] days of its having been made or within 14 [fourteen] days of the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to date of final determination by the New Premises CommencementValuer as in this clause 37 set out, the Landlord under shall be entitled to terminate this Lease shall be Landlord and upon not less than 6 [six] months notice to that following said date the Landlord under this Lease shall become New Landlord, and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordeffect.
Appears in 1 contract
Relocation. Tenant (a) Subject to Section 8, the Original Premises shall make reasonable efforts be relocated to relocate the premises shown on Schedule “A” attached hereto and identified as Unit 100 comprising approximately 5,000 square feet (the “Relocated Premises”). If required by the Landlord, the rentable area will be measured by the Landlord’s architect and all rent that is calculated upon it will be adjusted accordingly retroactive to the New Commencement Date (defined below).
(b) The Tenant shall not vacate nor close the Existing Premises for business until the New Commencement Date. In no event will the Tenant provide vacant possession of the Existing Premises later than five (5) days following the New Commencement Date.
(c) Prior to the Possession Date (as soon defined below) the Landlord shall provide, at its expense, complete all work described in Schedule “B” attached hereto with respect to the Relocated Premises (collectively, the “Landlord’s Work”).
(d) The Tenant will be given a fixturing period of ninety (90) days (the “Fixturing Period”) commencing on the date set out in a written notice from the Landlord advising when the Landlord’s Work will be substantially completed in the Relocated Premises and the Relocated Premises is ready for the commencement of the Tenant’s work (the “Possession Date”). The estimated Possession Date is one hundred and eighty (180) days from the date this Agreement is fully executed and unconditional. During the Fixturing Period the Tenant will work diligently to complete all of the Tenant’s work to install its fixtures and inventory and to open for business within the Relocated Premises. During the Fixturing Period the Tenant will not be responsible to pay rent for the Relocated Premises except for that arising by virtue of a default of the Tenant and except for utilities and garbage removal in respect of the Relocated Premises. All other terms of the Lease shall apply during the Fixturing Period. However, the Tenant will not be permitted access to the Relocated Premises until it has delivered to the Landlord:
(i) a certificate of general liability insurance from its contractor in accordance with the Landlord’s general requirements and a certificate from the Tenant’s insurers indicating that all insurance required under the Lease is in full force and effect, and until this Agreement is fully executed by the Landlord and Tenant;
(ii) the Tenant’s professionally prepared plans and drawings of the Tenant’s work which is subject to the Landlord’s prior written approval (not to be unreasonably withheld); and
(iii) confirmation that the Tenant has obtained all necessary permits to undertake the Tenant’s work.
(e) The rent commencement date of the Relocated Premises will be the earlier to occur of (i) the day immediately following the last day of the Fixturing Period referred to above, (ii) the date on which the Tenant first opens any part of the Relocated Premises to the public for business and (iii) the first anniversary of this Agreement (the “New Commencement Date”). Effective as is practical after Substantial Completion of the New Premises Landlord WorkCommencement Date, it being understood and agreed by all references in the parties that, notwithstanding the date of Substantial Completion of the New Premises Landlord Work, Tenant shall have no obligation Lease to relocate to the New Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operations. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant “Premises” shall be deemed to be in Default if amended to be the Relocated Premises.
(f) From the Possession Date, the Tenant has not both: a) relocated will have the right at its sole cost to install its signage on the bulkhead entrance to the New Relocated Premises and b) delivered possession signage on the exterior of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery of possession of the New Relocated Premises, again subject to the April 30Landlord’s prior written approval and in accordance with municipal standards. All other signage including any pylon and directional signage will be as agreed to by both parties acting reasonably.
(g) Subject to Section 6 below, 2014 date. other than Landlord’s Work and any obligations of the Landlord under the Lease, all further renovations, alterations or improvements in or to the Relocated Premises are the sole responsibility of the Tenant hereby agrees and shall be undertaken and completed at the Tenant’s expense and strictly in accordance with the provisions of the Lease and this Agreement.
(h) The Tenant acknowledges that prior the Landlord is going to redevelop the Shopping Centre and there may be noise and other disruptions to the New Premises CommencementShopping Centre. As a result of any construction, the Tenant acknowledges that, it shall not be entitled to any compensation, or reduction or abatement of rent in connection therewith, provided that notwithstanding the foregoing, the Landlord under this Lease shall be Landlord agrees to use reasonable commercial efforts to minimize interruptions to vehicular and that following said date pedestrian traffic and interferences with the Landlord under this Lease shall become New Landlord, ordinary and that following lawful enjoyment of the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New LandlordRelocated Premises.
Appears in 1 contract
Relocation. Tenant The Landlord shall make reasonable efforts have the right upon one hundred twenty (120) sixty (60) days’ prior written notice (the “Notice of Relocation”) to relocate the Tenant to other premises in the Building or the Development as hereinafter defined (the “Relocated Premises”) and the Tenant hereby agrees to cooperate and participate in regard to such relocation pursuant to the New Premises as soon as is practical following provisions:
(a) the Relocated Premises, which means after Substantial Completion relocation, the Premises, shall contain a rentable area of not more than 105% and not less than 95% of the New Rentable Area of the Premises;
(b) the Landlord shall provide at its expense, leasehold improvements in the Relocated Premises equal to a similar standard of the leasehold improvements existing in the Premises at the time of the Notice of Relocation;
(c) the Landlord Workshall pay for the reasonable moving cost, it being understood for the Tenant’s trade fixtures and agreed by furnishings from the parties thatPremises to the Relocated Premises;
(d) as compensation for all other costs, expenses and damages which the Tenant may suffer or incur in connection with the relocation, Base Rent and Occupancy Costs for the Relocated Premises shall xxxxx for the first one (1) month of occupancy;
(e) if the Rentable Area of the Relocated Premises is less than the Rentable Area of the Premises, Base Rent and Occupancy Costs for the Relocated Premises shall be decreased proportionately;
(f) Base Rent and Occupancy Costs for the Relocated Premises shall be no greater than the Base Rent and the Occupancy Costs for the Premises, notwithstanding the date of Substantial Completion Relocated Premises may contain a greater rentable area than the Rentable Area of the New Premises Landlord Work, Tenant Premises; and
(g) all terms and conditions of the Lease shall have no obligation to relocate apply to the New Relocated Premises prior to June 30, 2014 if such an earlier date is not reasonably convenient for Tenant’s business operationsexcept as set out in this clause. The New Premises Commencement Date shall be the date upon which New Landlord achieves Substantial Completion Landlord’s exercise of its rights under this Section does not constitute a re-entry or breach of the New Premises Landlord Work and delivers possession of the New Premises to Tenant subject to the aforementioned right by Tenant to defer occupancy prior to June 30, 2014. Tenant shall be deemed to be in Default if Tenant has not both: a) relocated to the New Premises and b) delivered possession of the Existing Premises back to Landlord in broom-clean, de-commissioned and de-contaminated condition as specified in the Lease within seven (7) days after New Landlord’s delivery covenant for quiet enjoyment. For the purpose of possession of the New Premises, again subject to the April 30, 2014 date. Tenant hereby agrees and acknowledges that prior to the New Premises Commencementthis Section 9.8, the Landlord under this Lease “Development” shall be Landlord include the Lands and that following said date the Landlord under this Lease shall become New Landlord, Building and that following the New Premises Commencement Date Landlord shall have no further obligations nor liabilities to Tenant, any adjacent lands and that this Lease shall thereafter be construed as a lease agreement solely between Tenant and New Landlordbuildings which collectively form part of an integrated development comprising more than one legal lot and/or more than one building.
Appears in 1 contract
Samples: Lease Agreement (Dirtt Environmental Solutions LTD)