Common use of Rentable Square Feet of Premises and Building Clause in Contracts

Rentable Square Feet of Premises and Building. For purposes of this Lease, "rentable square feet" in the Premises, the Building and the Project, as the case may be, has been calculated in accordance with the Standard Method for Measuring Floor Area in Office Buildings (ANSI Z65.1-1996) promulgated by the Building Owners And Managers Association (BOMA) ("Measurement Standard"). Notwithstanding anything to the contrary set forth in Section 2.2 of the Summary or elsewhere in this Lease, the rentable area of the Premises is subject to verification by Landlord's space planner pursuant to the Measurement Standard after Landlord's approval of the "Final Space Plan," as that term is defined in Section 3.2 of the Tenant Work Letter; provided, however, that in the event of any such adjustment to the rentable area of the Premises, the Building and/or the Project, the Base Rent payable by Tenant during the initial Lease Term shall not be modified in accordance with such subsequent determination. The determination of Landlord's space planner shall be conclusive and binding upon the parties and shall be confirmed by written notice from Landlord to Tenant. In the event that Landlord's space planner determines that the rentable area of the Premises shall be different from that set forth in Section 2.2 of the Summary, then all amounts, percentages and figures appearing or referred to in this Lease based upon such incorrect rentable area (including, without limitation, the amounts of "Base Rent," the "Security Deposit" and the "Tenant Improvement Allowance," and "Tenant's Share," as those terms are defined in this Lease, respectively) shall be modified in accordance with such determination. Notwithstanding the foregoing, Landlord may remeasure the Building and/or the Project, from time to time, in accordance with the Measurement Standard and if the rentable area of the Premises, the Building and/or the Project shall change as measured in such remeasurement, then the rentable area of the Premises and/or the Building, as the case may be, shall be appropriately adjusted as of the date of such remeasurement based upon the written verification by Landlord's space planner of such revised rentable area; provided, however, that in the event of any such adjustment to the rentable area of the Premises, the Building and/or the Project, the Base Rent payable by Tenant during the initial Lease Term shall not be modified in accordance with such subsequent determination.

Appears in 1 contract

Samples: Office Lease (Castlight Health, Inc.)

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Rentable Square Feet of Premises and Building. For purposes of this Lease, "rentable square feet" in the Premises, the Building Premises and the ProjectBuilding, as the case may be, has been shall be calculated in accordance with the pursuant to Standard Method for Measuring Floor Area in Office Buildings (Buildings, ANSI Z65.1-1996) promulgated by 1996 (“BOMA”), as modified for the Building Owners And Managers Association by Landlord’s architect. Landlord and Tenant hereby stipulate and agree that (BOMAi) ("Measurement Standard"). Notwithstanding anything to the contrary rentable area of the Building is as set forth in Section 2.2 2.1 of the Summary or elsewhere in this LeaseSummary, and (ii) the rentable area of the Premises is subject to verification by Landlord's space planner pursuant to the Measurement Standard after Landlord's approval of the "Final Space Plan," as that term is defined in Section 3.2 of the Tenant Work Letter; provided, however, that in the event of any such adjustment to the rentable area of the Premises, the Building and/or the Project, the Base Rent payable by Tenant during the initial Lease Term shall not be modified in accordance with such subsequent determination. The determination of Landlord's space planner shall be conclusive and binding upon the parties and shall be confirmed by written notice from Landlord to Tenant. In the event that Landlord's space planner determines that the rentable area of the Premises shall be different from that set forth in Section 2.2 of the Summary. In no event shall the rentable square feet of the Premises be subject to remeasurement or change, except in connection with the change in the physical dimensions of the Premises, and, in such event, any such remeasurement shall be carried out in accordance with BOMA. In the event Tenant elects to increase the physical dimensions of the Premises after the date of this Lease, and such increase is approved by Landlord, then within thirty (30) days after the date such increase is agreed upon by Landlord and Tenant, Landlord’s space planner/architect shall measure the rentable and usable square feet of the additional space in the Premises in accordance with BOMA and the results thereof shall be presented to Tenant in writing. Tenant’s space planner/architect may review Landlord’s space planner/architect’s determination of the number of rentable square feet and usable square feet of the Premises and Tenant may, within thirty (30) days after Tenant’s receipt of Landlord’s space planner/architect’s written determination, object to such determination by written notice to Landlord. Tenant’s failure to deliver written notice of such objection within said thirty (30) day period shall be deemed to constitute Tenant’s acceptance of Landlord’s space planner/architect’s determination. If Tenant objects to such determination, then Landlord’s space planner/architect and Tenant’s space planner/architect shall promptly meet and attempt in good faith to agree upon the rentable and usable square footage of the additional space in the Premises. If Landlord’s space planner/architect and Tenant’s space planner/architect cannot agree on the rentable and useable square footage of the additional space in the Premises within thirty (30) days after Tenant’s objection thereto, Landlord and Tenant shall mutually select an independent third party space measurement professional to measure the additional space in the Premises under the BOMA standard. Such third party independent measurement professional’s determination shall be conclusive and binding on Landlord and Tenant. Landlord and Tenant shall each pay one-half (1⁄2) of the fees and expenses of the independent third party space measurement professional. In no event shall the total rentable square feet of the Premises be less than the number set forth in this Lease. In the event that pursuant to the procedure described in this Section 1.2 above, it is determined that the square footage amounts shall be different from those set forth in this Lease, all amounts, percentages and figures appearing or referred to in this Lease based upon such incorrect rentable area amount (including, without limitation, the amounts amount of "Base the “Rent," the "Security Deposit" ” as that term is defined in Section 4.1 of this Lease, and the "Tenant Improvement Allowance," and "Tenant's Share," as those terms are defined in this Lease, respectively) shall be modified in accordance with such determination. Notwithstanding the foregoingIf such determination is made, it will be confirmed in writing by Landlord may remeasure the Building and/or the Project, from time to time, in accordance with the Measurement Standard and if the rentable area of the Premises, the Building and/or the Project shall change as measured in such remeasurement, then the rentable area of the Premises and/or the Building, as the case may be, shall be appropriately adjusted as of the date of such remeasurement based upon the written verification by Landlord's space planner of such revised rentable area; provided, however, that in the event of any such adjustment to the rentable area of the Premises, the Building and/or the Project, the Base Rent payable by Tenant during the initial Lease Term shall not be modified in accordance with such subsequent determinationTenant.

Appears in 1 contract

Samples: Office Lease (Airbnb, Inc.)

Rentable Square Feet of Premises and Building. For purposes of this Lease, "rentable square feet" in the Premises, the Building and the Project, as the case may be, has been shall be calculated in accordance with the Standard Method for Measuring Floor Area in Office Buildings (ANSI Z65.1Xxxxxxxxx Xxxxx Xxxx xxx Xxxxxx Xxxxxxxxx, XXXX X00.0-1996) 0000, promulgated by the Building Owners And Managers Association (BOMA) ("Measurement Standard"). Notwithstanding anything to the contrary set forth in Section 2.2 of the Summary or elsewhere in this Lease, the rentable area of the Premises and any ROFO Spaces (as defined in Addendum 1) is subject to verification by Landlord's ’s space planner pursuant to the Measurement Standard after Landlord's approval of from time to time (the "Final Space Plan," as that term is defined in Section 3.2 of the Tenant Work Letter; provided, however, that in the event of any such adjustment to the rentable area of the Premises, the Building and/or the Project, the Base Rent payable by Tenant during the initial Lease Term shall not be modified in accordance with such subsequent determination. The determination of Landlord's space planner shall be conclusive and binding upon the parties and shall be confirmed by written notice from Landlord to Tenant“Measurement Verification”). In the event that Landlord's ’s space planner determines that the rentable area of the Premises shall be different from that set forth in Section 2.2 of the Summary, then all amounts, percentages and figures appearing or referred to in this Lease based upon such incorrect rentable area (including, without limitation, the amounts of "Base Rent," the "Security Deposit" and the "Tenant Improvement Allowance," and "Tenant's ’s Share," as those terms are defined in this Lease, respectively) shall be modified in accordance with such determination. Notwithstanding the foregoing, if Tenant notifies Landlord that Tenant objects to the Measurement Verification within thirty (30) days after Tenant’s receipt of the Measurement Verification from Landlord, then, at Tenant’s sole cost and expense, the Premises shall be measured by an independent architect jointly selected by Landlord and Tenant and, if applicable, all amounts, percentages and figures appearing or referred to in this Lease based upon such incorrect rentable area (including, without limitation, the amounts of “Base Rent,” the “Tenant Improvement Allowance,” and “Tenant’s Share”) shall be modified in accordance with such determination. Notwithstanding the foregoing, Landlord may remeasure the Building and/or the Project, from time to time, in accordance with the Measurement Standard Standard, and if the rentable area of the Premises, the Building and/or the Project shall change as measured in such remeasurement, then the rentable area of the Premises and/or the Building, as the case may be, shall be appropriately adjusted as of the date of such remeasurement based upon the written verification by Landlord's ’s space planner of such revised rentable area; provided, however, that in the event of any . Any such adjustment remeasurement by Landlord shall be subject to the rentable area of the Premises, the Building and/or the Project, the Base Rent payable verification by Tenant during the initial Lease Term shall not be modified in accordance with such subsequent determinationthis Section 1.2.

Appears in 1 contract

Samples: Office Lease (Forrester Research, Inc.)

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Rentable Square Feet of Premises and Building. For purposes of this Lease, "rentable square feet" in the Premises, the Building Premises and the Project, as the case may be, has been calculated in accordance with the Standard Method for Measuring Floor Area in Office Buildings (ANSI Z65.1-1996) promulgated by the Building Owners And Managers Association (BOMA) ("Measurement Standard"). Notwithstanding anything to the contrary set forth in Section 2.2 of the Summary or elsewhere in this Lease, the rentable area of the Premises is subject to verification by Landlord's space planner pursuant to the Measurement Standard after Landlord's approval of the "Final Space Plan," as that term is defined in Section 3.2 of the Tenant Work Letter; provided, however, that in the event of any such adjustment to the rentable area of the Premises, the Building and/or the Project, the Base Rent payable by Tenant during the initial Lease Term shall not be modified in accordance with such subsequent determination. The determination of Landlord's space planner shall be conclusive and binding upon the parties and shall be confirmed by written notice from Landlord to Tenant. In the event that Landlord's space planner determines that the rentable area of the Premises shall be different from that set forth in Section 2.2 of the Summary, then all amounts, percentages and figures appearing or referred to in this Lease based upon such incorrect rentable area (including, without limitation, the amounts of "Base Rent," the "Security Deposit" and the "Tenant Improvement Allowance," and "Tenant's Share," as those terms are defined in this Lease, respectively) shall be modified in accordance with such determination. Notwithstanding the foregoing, Landlord may remeasure the Building and/or the Project, from time to time, in accordance with the Measurement Standard and if the rentable area of the Premises, the Building and/or the Project shall change as measured in such remeasurement, then the rentable area of the Premises and/or the Building, as the case may be, shall be appropriately adjusted as calculated pursuant ANSI/BOMA Z65.3-2018 Gross Area 1 (Leasing Method) (the “BOMA Standard”). Upon Substantial Completion of the date Landlord Work and Tenant Improvements, Landlord shall measure the rentable square footage of the Premises and give Tenant notice thereof. The measurement of the Premises shall be initially determined by Landlord’s architect and shall be confirmed by the parties as follows: Landlord’s Architect will determine the rentable square feet of the Premises in accordance with the BOMA Standard. Landlord will notify Tenant of such remeasurement based upon determination and shall, concurrently with the written verification by Landlord's space planner delivery of such revised rentable area; providednotice, howeverprovide Tenant with a CAD-formatted file of such measurement for Tenant’s review. If Tenant, in good faith, disagrees with the Landlord’s Architect’s interpretations or determinations and notifies Landlord of same within fifteen (15) days after Landlord notifies Tenant of the Landlord’s Architect’s determination, and if a dispute occurs regarding the final accuracy of such interpretations or determination that in the event is not resolved between Landlord and Tenant, using good faith efforts, within fifteen (15) days after Landlord’s receipt of any Tenant’s disagreement notice, such adjustment dispute will be resolved pursuant to the rentable area dispute resolution procedure set forth below, with architects or office space measurement professionals with at least ten (10) years’ experience measuring Comparable Buildings, serving as arbitrator. If Tenant fails to notify Landlord of Tenant’s disagreement with the Landlord’s Architect’s determination within such fifteen (15) day period or if Tenant fails to deliver a request for arbitration with the ten (10) business day period specified below, the Landlord’s Architect’s determination shall be binding and conclusive upon Landlord and Tenant. Upon resolution of the measurement of the Premises, the Building and/or Premises will not be subject to remeasurement. All disputes between Landlord and Tenant regarding Landlord’s Architect’s measurement of the ProjectPremises shall be resolved as follows: if Tenant disagrees with the Landlord’s Architect’s measurement and the dispute has not been resolved within fifteen (15) 35654\12546889.9 06907\011\8493037.v6 days following Tenant’s delivery of notice of disagreement to Landlord, Tenant may deliver an arbitration notice to Landlord within ten (10) business days after the expiration of such fifteen (15) day period. Within ten (10) business days following Tenant’s delivery of an arbitration notice, the Base Rent payable parties shall mutually select one (1) architect who is a natural person not employed by Tenant during either of the parties or any parent or affiliated partnership, corporation or other enterprise thereof, who shall also be a licensed AIA architect with at least ten (10) years’ experience in the San Francisco bay area real estate market. If the parties do not so agree, then either party, on behalf of both, may request appointment of such a qualified person by the San Francisco office of the JAMS. Request for appointment shall be made in writing with a copy given to the other party. The arbitrator so selected shall decide the dispute, if it has not previously been resolved, by following the procedure set forth below. The arbitrator shall state in writing his or her determination of the rentable square feet of the Premises applying the BOMA Standard, and shall deliver a copy to each party. The arbitrator shall complete his or her determination within thirty (30) days after appointment. The decision of the arbitrator shall be final and binding upon the parties. The party who demanded arbitration shall pay the costs of the arbitrator. The arbitrator shall have no power to modify the provisions of this Lease. If any arbitrator fails, refuses or is unable to act, his or her successor shall be appointed in the same manner as provided for appointment of the initial Lease Term shall not be modified in accordance with such subsequent determinationarbitrator.

Appears in 1 contract

Samples: Lease (Penumbra Inc)

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