Common use of Right of Notice Clause in Contracts

Right of Notice. Section 21.0 Landlord agrees, from time to time, upon written request of Tenant to advise Tenant as to space available on the sixth floor (6th) of the Facility (“Notice Space”), provided Tenant treats such information as confidential and does not disclose said information. If during the initial or any renewal term of this Lease any occupied area on the sixth (6th) floor of the Facility is vacated or to be vacated by the present tenant, its successors and assigns, and Landlord desires to lease any of such space (subject to the terms of Article XXV herein), Landlord shall deliver a notice of such intent to lease in writing to Tenant offering to lease such space to Tenant upon the terms and conditions (including rent) as set forth in the Lease for the Premises initially demised except that (i) if the space was previously unimproved Tenant shall receive an “Allowance” per rentable square foot of the as leased Notice Space (as determined as set forth below) for tenant improvements pro rated for the number of years remaining in the initial Term from the date the term commences on the Notice Space so leased, and (ii) if the space was previously improved, the Tenant shall accept the Premises in “as-is” condition without contribution from Landlord for tenant improvements. For purposes of this Section 21.0, “Allowance” shall be determined as follows: Upon completion of Landlord’s Improvements, Landlord shall determine an “Allowance” number to be used for purposes of Section 21.0 hereof based upon the cost to Landlord of all Landlord’s Improvements to the Premises below the finished ceiling, specifically excluding from such costs (i) any amounts reimbursed by Tenant, and (ii) the amount of the Construction Allowance set forth in Section 23.1; and including an amount equal to the upgrade cost set forth in Section 23.1 (b)(8) for the executive offices, if any, added in the to be leased Notice Space. Said net amount shall be divided by the rentable area of the Premises and said amount shall be the Allowance per rentable square foot utilized in this Section 21.0. Landlord shall provide reasonable evidence documenting said costs if requested by Tenant. In addition to the Allowance, the allowance described in Section 22.0(b) shall be provided to Tenant for each rentable square foot of space so taken under this Section 21.0. Tenant shall have ten (10) business days from receipt of such notice to deliver Landlord notice that Tenant desires to execute the lease amendment with Landlord for such proposed space upon the conforming terms and conditions specified in Landlord’s notice. If Tenant fails to deliver such notice to Landlord within such ten (10) business day period or fails to execute an amendment as above provided within an additional ten (10) business day period, Landlord may lease such space to a third party. These rights of Tenant herein shall become inoperative as to any space in respect to which the Tenant does not exercise its rights to lease as set forth herein or in respect to space for which Tenant does not execute the lease amendment within the above required ten (10) day period. The Term shall commence on the Notice Space to be leased the first date that said space is available for Tenant to take possession, if the space has previously been fit-up or thirty (30) days after the space is made available to Tenant if said space has not previously been improved. Landlord agrees, that Tenant shall have the right, until July 1, 1998 to expand the Premises initially demised by up to 5,000 rentable square feet and Landlord agrees that it will retain at a minimum approximately 5,000 rentable square feet adjacent to the Premises (in a location acceptable to Landlord which results in a readily leasable configuration for the balance of the sixth (6th) floor not leased to Tenant). Said space shall be leased to Tenant upon all of the terms, conditions and rent set forth herein for the Premises initially intended to be demised hereunder, except that there shall be no Section 23.1 Construction Allowance other than for item (b) (8), to the extent executive offices are included in such additional space and there shall be included the Space Planning Allowance set forth in Section 22.0(b).

Appears in 1 contract

Samples: First (SoftBrands, Inc.)

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Right of Notice. Section 21.0 Landlord agrees, from time to time, upon written request of Tenant to advise Tenant as to space available on During the sixth floor (6th) of the Facility (“Notice Space”), provided Tenant treats such information as confidential and does not disclose said information. If during the initial or any renewal term of this Lease any occupied area on Lease, Tenant will have the sixth first right (6th"First Right") floor to be notified by Landlord of the Facility is vacated or availability for lease of the following spaces: 1100 Xxxxxxxx Xxxxxxx Xxxxxx, XXITES 260/290, 255/275/285/299, 165, AND 100, (the "Expansion Spaces"). Prior to be vacated by the present tenant, its successors and assigns, and Landlord desires to lease expiration date of a Lease for any of such space the Expansion Spaces or upon any of the Expansion Spaces otherwise becoming available through Landlord (subject to the terms of Article XXV hereinexcludes subleases), Landlord shall deliver a will give Tenant written notice of such intent to lease in writing to Tenant offering to lease such space to Tenant upon (the terms and conditions (including rent) as set forth in the Lease for the Premises initially demised except that (i) if the space was previously unimproved Tenant shall receive an “Allowance” per rentable square foot of the as leased Notice Space (as determined as set forth below) for tenant improvements pro rated for the number of years remaining in the initial Term from the date the term commences on the Notice Space so leased, and (ii) if the space was previously improved, the Tenant shall accept the Premises in “as-is” condition without contribution from Landlord for tenant improvements. For purposes of this Section 21.0, “Allowance” shall be determined as follows: Upon completion of Landlord’s Improvements, Landlord shall determine an “Allowance” number to be used for purposes of Section 21.0 hereof based upon the cost to Landlord of all Landlord’s Improvements to the Premises below the finished ceiling, specifically excluding from such costs (i) any amounts reimbursed by Tenant, and (ii) the amount of the Construction Allowance set forth in Section 23.1; and including an amount equal to the upgrade cost set forth in Section 23.1 (b)(8) for the executive offices, if any, added in the to be leased Notice Space. Said net amount shall be divided by the rentable area of the Premises and said amount shall be the Allowance per rentable square foot utilized in this Section 21.0. Landlord shall provide reasonable evidence documenting said costs if requested by Tenant. In addition to the Allowance, the allowance described in Section 22.0(b) shall be provided to Tenant for each rentable square foot of space so taken under this Section 21.0"Negotiation Notice"). Tenant shall have ten (10) business days from receipt of such notice the Negotiation Notice in which to deliver Landlord notice that Tenant desires to execute the lease amendment negotiate with Landlord for such proposed space upon the conforming terms and conditions specified of the Lease of the space referenced in Landlord’s noticethe Negotiation Notice. If Tenant fails the parties are unable to deliver such notice to Landlord agree on the terms and conditions of the Lease of said space within such said ten (10) business day period or fails to execute an amendment as above provided within an additional ten (10) business day period, Landlord may lease such the space described in the Negotiation Notice to a third party. These rights of Tenant herein This First Right shall become inoperative as not be applicable to any space extension of a Lease by an existing Tenant nor to any new Lease between Landlord and any existing Tenant of any of the Expansion Spaces. This First Right shall terminate and be of no force and effect if, at the time of the delivery to Tenant of any Negotiation Notice, Tenant is in respect to which default of the Tenant does not exercise its rights to lease as set forth herein performance of any of the covenants, conditions or in respect to space for which Tenant does not execute the lease amendment within the above required ten (10) day period. The Term shall commence on the Notice Space agreements to be leased performed by Tenant under the first date that said space is available for Tenant Lease. Neither party to take possession, if the space has previously been fit-up or thirty (30) days after the space is made available to Tenant if said space has not previously been improved. Landlord agrees, that Tenant Lease shall have the right, until July 1, 1998 right to expand have a court or arbitrator or other third party set the Premises initially demised by up to 5,000 rentable square feet and Landlord agrees that it will retain at a minimum approximately 5,000 rentable square feet adjacent to the Premises (in a location acceptable to Landlord which results in a readily leasable configuration for the balance rent or any of the sixth (6th) floor not leased to Tenant)other terms of the Lease for any of the Expansion Spaces. Said space shall be leased This First Right is personal to Tenant upon all and may not be assigned by Tenant separately or as a part of the terms, conditions and rent set forth herein for the Premises initially intended to be demised hereunder, except that there shall be no Section 23.1 Construction Allowance other than for item (b) (8), to the extent executive offices are included in such additional space and there shall be included the Space Planning Allowance set forth in Section 22.0(b)this Lease.

Appears in 1 contract

Samples: Letter Agreement (Synon Corp)

Right of Notice. Section 21.0 Landlord agrees, from At any time prior to time, upon written request of Tenant to advise Tenant as to space available on the sixth floor (6th) expiration of the Facility (“Notice Space”)Lease Term, provided Tenant treats such information as confidential and does not disclose said information. If during the initial or any renewal term of that this Lease is in full force and effect and Tenant is not in default of any occupied area on the sixth (6th) floor of the Facility is vacated or to be vacated by terms, covenants and conditions herein contained, in the present tenant, its successors and assigns, and event Landlord desires to lease any of such the remaining space in the Building to a third party (subject to the terms of Article XXV herein"Notice Space"), Landlord shall deliver a provide written notice (the "Offer Notice") to Tenant of such Landlord's intent to lease in writing to Tenant offering to lease such space to Tenant upon the terms and conditions (including rent) as set forth in the Lease for the Premises initially demised except that (i) if the space was previously unimproved Tenant shall receive an “Allowance” per rentable square foot of the as leased Notice Space (to a third party, which Offer Notice shall include notice as determined as set forth below) for tenant improvements pro rated for the number of years remaining in the initial Term from to the date the term commences on which the Notice Space so leased, shall become available and (ii) if the space was previously improved, the Tenant shall accept the Premises in “as-is” condition without contribution from Landlord for tenant improvements. For purposes of this Section 21.0, “Allowance” shall be determined as follows: Upon completion of Landlord’s Improvements, Landlord shall determine an “Allowance” number to be used for purposes of Section 21.0 hereof based upon the cost to Landlord of all Landlord’s Improvements to the Premises below the finished ceiling, specifically excluding from such costs (i) any amounts reimbursed by Tenant, and (ii) the amount of the Construction Allowance set forth Notice Space available for lease by Tenant. Tenant shall thereafter have a period of ten (10) days from Tenant's receipt of said Offer Notice to elect in Section 23.1; writing to lease all, and including an amount equal to not less than all, of the upgrade cost set forth in Section 23.1 (b)(8) for the executive offices, if any, added in the to be leased Notice Space. Said net amount If Tenant so elects to lease the Notice Space, then Landlord and Tenant shall be divided by enter into an amendment to this Lease whereby the rentable area Notice Space shall become a portion of the Premises and said amount shall be Main Premises hereunder, with the Allowance per Base Rent for the Notice Space being equal to the then existing Base Rent for the Main Premises (on a rentable square foot utilized basis) in this Section 21.0. Landlord shall provide reasonable evidence documenting said costs if requested by Tenant. In addition to effect as specified on Exhibit "C" attached hereto (or in the Allowancecase of any Renewal Term, the allowance described then existing Base Rent in Section 22.0(b) effect for the Premises for such a Renewal Term). The Notice Space shall be provided subject to Tenant for each rentable square foot of space so taken under this Section 21.0. Tenant shall have ten (10) business days from receipt of such notice to deliver Landlord notice that Tenant desires to execute the lease amendment with Landlord for such proposed space upon the conforming all other terms and conditions specified in Landlord’s notice. If Tenant fails to deliver such notice to Landlord within such ten (10) business day period or fails to execute an amendment as above provided within an additional ten (10) business day period, Landlord may lease such space to a third party. These rights of Tenant herein shall become inoperative as to any space in respect to which the Tenant does not exercise its rights to lease as set forth herein or in respect to space for which Tenant does not execute the lease amendment within the above required ten (10) day period. The Term shall commence on the Notice Space to be leased the first date that said space is available for Tenant to take possession, if the space has previously been fit-up or thirty (30) days after the space is made available to Tenant if said space has not previously been improved. Landlord agrees, that Tenant shall have the right, until July 1, 1998 to expand the Premises initially demised by up to 5,000 rentable square feet and Landlord agrees that it will retain at a minimum approximately 5,000 rentable square feet adjacent to the Premises (in a location acceptable to Landlord which results in a readily leasable configuration for the balance of the sixth (6th) floor not leased to Tenant). Said space shall be leased to Tenant upon all of the terms, conditions and rent set forth herein for the Premises initially intended to be demised hereunder, this Lease except that there shall be no Section 23.1 Construction Allowance other charge for Special Rent for such Notice Space. In addition, Tenant's Pro-Rata Share shall be increased to account for the additional square footage included in the Notice Space. Provided, however, that if the commencement date of the lease of the Notice Premises by the Tenant is less than for item five (b5) (8), years prior to the extent executive offices are included in such additional space and there end of the then-present Term of this Lease, Tenant shall only be entitled to lease the Notice Space if Tenant also extends the Lease Term hereunder so that the end of the then-present Term of this Lease shall be included at least five (5) years following the date of the commencement of the leasing of the Notice Space Planning Allowance set forth in Section 22.0(b)by Tenant.

Appears in 1 contract

Samples: Agreement (Be Aerospace Inc)

Right of Notice. Section 21.0 Landlord agrees, from time to time, upon written request of Tenant to advise Tenant as to space available on (a) At all times during the sixth floor Term (6th) of the Facility (“Notice Space”including any Renewal Terms), provided Tenant treats such information as confidential and does not disclose said information. If during the initial or any renewal term of that this Lease any occupied area is in full force and there shall then exist no Event of Default on the sixth (6th) floor part of Tenant in the performance of any of the Facility is vacated terms, covenants and conditions herein contained as of the date of Tenant’s exercise of its rights under this Section 19.2 or to be vacated by the present tenantdate of Tenant’s expansion as provided herein, its successors and assigns, and Landlord desires to lease any of such space (subject to the terms of Article XXV herein)then, Landlord shall deliver a notice advise Tenant of such intent to lease in writing to Tenant offering to lease such any current or pending available space to Tenant upon the terms and conditions (including rent) as set forth in the Lease for Building, at the Premises initially demised except that earlier of (i) if the space was previously unimproved Tenant shall receive an “Allowance” per rentable square foot of the as leased Notice Space (as determined as set forth below) for tenant improvements pro rated for the number of years remaining in the initial Term from the date the term commences on the Notice Space so leased, and (ii) if the as of which such space was previously improved, the Tenant shall accept the Premises in “as-is” condition without contribution from Landlord for tenant improvements. For purposes of this Section 21.0, “Allowance” shall be determined as follows: Upon completion of Landlord’s Improvements, Landlord shall determine an “Allowance” number to be used for purposes of Section 21.0 hereof based upon the cost to Landlord of all Landlord’s Improvements to the Premises below the finished ceiling, specifically excluding from such costs (i) any amounts reimbursed by Tenant, and becomes vacant or (ii) the amount of the Construction Allowance set forth in Section 23.1; and including an amount equal to the upgrade cost set forth in Section 23.1 (b)(8) for the executive offices, if any, added in the to be leased Notice Space. Said net amount shall be divided by the rentable area of the Premises and said amount date which shall be the Allowance per rentable square foot utilized in this Section 21.0. Landlord shall provide reasonable evidence documenting said costs if requested by Tenant. In addition later of the date nine (9) months prior to the Allowance, termination of any then existing lease or the allowance described in Section 22.0(b) shall be expiration of any renewal options provided therein (such space being herein referred to as the “Notice Space” and Landlord’s written notice to Tenant for each rentable square foot thereof being herein referred to as a “Notice of space so taken under this Section 21.0Intent to Lease”). Tenant shall have ten (10) business days from receipt of such notice the right to deliver notify Landlord notice in writing that Tenant desires to execute the lease amendment with Landlord for such proposed space upon the conforming terms and conditions specified in Landlord’s notice. If Tenant fails to deliver such notice to Landlord within such ten (10) business day period or fails to execute an amendment as above provided within an additional ten (10) business day period, Landlord may lease such space to a third party. These rights of Tenant herein shall become inoperative as to any space in respect to which the Tenant does not exercise its rights to lease as set forth herein or in respect to space for which Tenant does not execute the lease amendment within the above required ten (10) day period. The Term shall commence on the Notice Space to be leased the first date that said space is available for Tenant to take possession, if the space has previously been fit-up or thirty (30) days after the space is made available to Tenant if said space has not previously been improved. Landlord agrees, that Tenant shall have the right, until July 1, 1998 electing to expand the Premises initially demised by up into an area comprised of all or a portion of such Notice Space (“Tenant’s Election”) at any time before the date Landlord provides Tenant with a Landlord’s Notice (as defined below) with respect to 5,000 rentable square feet and Landlord agrees that it will retain all or a portion of such Notice Space, at a minimum approximately 5,000 rentable square feet adjacent which time Tenant’s rights pursuant to this subsection (a) shall cease as to the Premises (in a location acceptable space covered by the Notice of Intent to Landlord which results in a readily leasable configuration for Lease, subject to the balance provisions of the sixth (6thSection 19(b) floor not leased below; provided, however, if Tenant elects to Tenant). Said space shall be leased to Tenant upon expand into less than all of the termsNotice Space, conditions the portion of the Notice Space then remaining shall be of a size and rent set forth herein location which is reasonably marketable and usable. Tenant’s delivery of Tenant’s Election to Landlord shall constitute an irrevocable commitment by Tenant to lease the Notice Space that is the subject of Tenant’s Election. At any time prior to Landlord’s receipt of Tenant’s Election, Landlord shall be free to enter into lease negotiations for the Premises initially intended to be demised Notice Space with such third party or any other third party, free of any rights of Tenant hereunder, except that there shall be no Section 23.1 Construction Allowance other than for item (b) (8), subject to Tenant’s rights described in the extent executive offices are included in such additional space and there shall be included the Space Planning Allowance set forth in Section 22.0(b)following paragraph.

Appears in 1 contract

Samples: Office Lease Agreement (Royal Caribbean Cruises LTD)

Right of Notice. Section 21.0 Landlord agrees, from time to time, upon written request of Tenant to advise Tenant as to space available on the sixth third floor (6th) of the Facility ("Notice Space"), provided Tenant treats such information as confidential and does not disclose said information. If during the initial or any renewal term of this Lease any occupied area on the sixth third (6th3rd) floor of the Facility is vacated or to be vacated by the present tenant, its successors and assigns, and Landlord desires to lease any of such space (subject to the terms of Article XXV herein), Landlord shall deliver a notice of such intent to lease in writing to Tenant offering to lease such space to Tenant upon the terms and conditions (including rent) as set forth in the Lease for the Premises initially demised except that (i) if the space was previously unimproved Tenant shall receive an "Allowance" per rentable square foot of the as leased Notice Space (as determined as set forth below) for tenant improvements pro rated for the number of years remaining in the initial Term from the date the term commences on the Notice Space so leased, and (ii) if the space was previously improved, the Tenant shall accept the Premises in "as-is" condition without contribution from Landlord for tenant improvements. For purposes of this Section 21.0, "Allowance" shall be determined as follows: Upon completion of Landlord’s 's Improvements, Landlord shall determine an "Allowance" number to be used for purposes of Section 21.0 hereof based upon the cost to Landlord of all Landlord’s 's Improvements to the Premises below the finished ceiling, specifically excluding from such costs (i) any amounts reimbursed by Tenant, and (ii) the amount of the Construction Allowance set forth in Section 23.1; and including an amount equal to the upgrade cost set forth in Section 23.1 (b)(8) for the executive offices, if any, added in the to be leased Notice Space. Said net amount shall be divided by the rentable area of the Premises and said amount shall be the Allowance per rentable square foot utilized in this Section 21.0. Landlord shall provide reasonable evidence documenting said costs if requested by Tenant. In addition to the Allowance, the allowance described in Section 22.0(b) shall be provided to Tenant for each rentable square foot of space so taken under this Section 21.0. Tenant shall have ten (10) business days from receipt of such notice to deliver Landlord notice that Tenant desires to execute the lease amendment with Landlord for such proposed space upon the conforming terms and conditions specified in Landlord’s 's notice. If Tenant fails to deliver such notice to Landlord within such ten (10) business day period or fails to execute an amendment as above provided within an additional ten (10) business day period, Landlord may lease such space to a third party. These rights of Tenant herein shall become inoperative as to any space in respect to which the Tenant does not exercise its rights to lease as set forth herein or in respect to space for which Tenant does not execute the lease amendment within the above required ten (10) day period. The Term shall commence on the Notice Space to be leased the first date that said space is available for Tenant to take possession, if the space has previously been fit-up or thirty (30) days after the space is made available to Tenant if said space has not previously been improved. Landlord agrees, that Tenant shall have the right, until July 1, 1998 to expand the Premises initially demised by up to 5,000 rentable square feet and Landlord agrees that it will retain at a minimum approximately 5,000 rentable square feet adjacent to the Premises (in a location acceptable to Landlord which results in a readily leasable configuration for the balance of the sixth (6th) floor not leased to Tenant). Said space shall be leased to Tenant upon all of the terms, conditions and rent set forth herein for the Premises initially intended to be demised hereunder, except that there shall be no Section 23.1 Construction Allowance other than for item (b) (8), to the extent executive offices are included in such additional space and there shall be included the Space Planning Allowance set forth in Section 22.0(b).

Appears in 1 contract

Samples: Fourth Shift Corp

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Right of Notice. Section 21.0 Landlord agrees, from At any time prior to time, upon written request of Tenant to advise Tenant as to space available on the sixth floor (6th) expiration of the Facility (“Notice Space”)Lease Term, provided Tenant treats such information as confidential and does not disclose said information. If during the initial or any renewal term of that this Lease is in full force and effect and Tenant is not in default of any occupied area on the sixth (6th) floor of the Facility is vacated or to be vacated by terms, covenants and conditions herein contained, in the present tenant, its successors and assigns, and event Landlord desires to lease any of such the remaining space in the Building to a third party (subject to the terms of Article XXV herein"Notice Space"), Landlord shall deliver a provide written notice (the "Offer Notice") to Tenant of such Landlord's intent to lease in writing to Tenant offering to lease such space to Tenant upon the terms and conditions (including rent) as set forth in the Lease for the Premises initially demised except that (i) if the space was previously unimproved Tenant shall receive an “Allowance” per rentable square foot of the as leased Notice Space (to a third party, which Offer Notice shall include notice as determined as set forth below) for tenant improvements pro rated for the number of years remaining in the initial Term from to the date the term commences on which the Notice Space so leased, shall become available and (ii) if the space was previously improved, the Tenant shall accept the Premises in “as-is” condition without contribution from Landlord for tenant improvements. For purposes of this Section 21.0, “Allowance” shall be determined as follows: Upon completion of Landlord’s Improvements, Landlord shall determine an “Allowance” number to be used for purposes of Section 21.0 hereof based upon the cost to Landlord of all Landlord’s Improvements to the Premises below the finished ceiling, specifically excluding from such costs (i) any amounts reimbursed by Tenant, and (ii) the amount of the Construction Allowance set forth Notice Space available for lease by Tenant. Tenant shall thereafter have a period of ten (10) days from Tenant's receipt of said Offer Notice to elect in Section 23.1; writing to lease all, and including an amount equal to not less than all, of the upgrade cost set forth in Section 23.1 (b)(8) for the executive offices, if any, added in the to be leased Notice Space. Said net amount If Tenant so elects to lease the Notice Space, then Landlord and Tenant shall be divided by enter into an amendment to this Lease whereby the rentable area Notice Space shall become a portion of the Premises and said amount shall be Main Premises hereunder, with the Allowance per Base Rent for the Notice Space being equal to the then existing Base Rent for the Main Premises (on a rentable square foot utilized basis) in this Section 21.0. Landlord shall provide reasonable evidence documenting said costs if requested by Tenant. In addition to effect as specified on Exhibit "C" attached hereto (or in the Allowancecase of any Renewal Term, the allowance described then existing Base Rent in Section 22.0(b) effect for the Premises for such a Renewal Term). The Notice Space shall be provided subject to Tenant for each rentable square foot of space so taken under this Section 21.0. Tenant shall have ten (10) business days from receipt of such notice to deliver Landlord notice that Tenant desires to execute the lease amendment with Landlord for such proposed space upon the conforming all other terms and conditions specified in Landlord’s notice. If Tenant fails to deliver such notice to Landlord within such ten (10) business day period or fails to execute an amendment as above provided within an additional ten (10) business day period, Landlord may lease such space to a third party. These rights of Tenant herein shall become inoperative as to any space in respect to which the Tenant does not exercise its rights to lease as set forth herein or in respect to space for which Tenant does not execute the lease amendment within the above required ten (10) day period. The Term shall commence on the Notice Space to be leased the first date that said space is available for Tenant to take possession, if the space has previously been fit-up or thirty (30) days after the space is made available to Tenant if said space has not previously been improved. Landlord agrees, that Tenant shall have the right, until July 1, 1998 to expand the Premises initially demised by up to 5,000 rentable square feet and Landlord agrees that it will retain at a minimum approximately 5,000 rentable square feet adjacent to the Premises (in a location acceptable to Landlord which results in a readily leasable configuration for the balance of the sixth (6th) floor not leased to Tenant). Said space shall be leased to Tenant upon all of the terms, conditions and rent set forth herein for the Premises initially intended to be demised hereunder, this Lease except that there shall be no Section 23.1 Construction Allowance other charge for Special Rent for such Notice Space. In addition, Tenant's Pro-Rata Share shall be increased to account for the additional square footage included in the Notice Space. Provided, however, that if the commencement date of the lease of the Notice Premises by the Tenant is less than for item five (b5) (8), years prior to the extent executive offices are included in such additional space and there end of the then-present Term of this Lease, Tenant shall only be entitled to lease the Notice Space if Tenant also extends the Lease Term hereunder so that the end of the then-present Term of this Lease shall be included at least five (5) years following the date of the commencement of the leasing of the Notice Space Planning Allowance set forth in Section 22.0(b)by Tenant. 54.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement

Right of Notice. Section 21.0 Landlord agrees, from time to time, upon written request of Tenant to advise Tenant as to space available on the sixth floor (6th) of the Facility ("Notice Space"), provided Tenant treats such information as confidential and does not disclose said information. If during the initial or any renewal term of this Lease any occupied area on the sixth (6th) floor of the Facility is vacated or to be vacated by the present tenant, its successors and assigns, and Landlord desires to lease any of such space (subject to the terms of Article XXV herein), Landlord shall deliver a notice of such intent to lease in writing to Tenant offering to lease such space to Tenant upon the terms and conditions (including rent) as set forth in the Lease for the Premises initially demised except that (i) if the space was previously unimproved Tenant shall receive an "Allowance" per rentable square foot of the as leased Notice Space (as determined as set forth below) for tenant improvements pro rated for the number of years remaining in the initial Term from the date the term commences on the Notice Space so leased, and (ii) if the space was previously improved, the Tenant shall accept the Premises in "as-is" condition without contribution from Landlord for tenant improvements. For purposes of this Section 21.0, "Allowance" shall be determined as follows: Upon completion of Landlord’s 's Improvements, Landlord shall determine an "Allowance" number to be used for purposes of Section 21.0 hereof based upon the cost to Landlord of all Landlord’s 's Improvements to the Premises below the finished ceiling, specifically excluding from such costs (i) any amounts reimbursed by Tenant, and (ii) the amount of the Construction Allowance set forth in Section 23.1; and including an amount equal to the upgrade cost set forth in Section 23.1 (b)(8) for the executive offices, if any, added in the to be leased Notice Space. Said net amount shall be divided by the rentable area of the Premises and said amount shall be the Allowance per rentable square foot utilized in this Section 21.0. Landlord shall provide reasonable evidence documenting said costs if requested by Tenant. In addition to the Allowance, the allowance described in Section 22.0(b) shall be provided to Tenant for each rentable square foot of space so taken under this Section 21.0. Tenant shall have ten (10) business days from receipt of such notice to deliver Landlord notice that Tenant desires to execute the lease amendment with Landlord for such proposed space upon the conforming terms and conditions specified in Landlord’s 's notice. If Tenant fails to deliver such notice to Landlord within such ten (10) business day period or fails to execute an amendment as above provided within an additional ten (10) business day period, Landlord may lease such space to a third party. These rights of Tenant herein shall become inoperative as to any space in respect to which the Tenant does not exercise its rights to lease as set forth herein or in respect to space for which Tenant does not execute the lease amendment within the above required ten (10) day period. The Term shall commence on the Notice Space to be leased the first date that said space is available for Tenant to take possession, if the space has previously been fit-up or thirty (30) days after the space is made available to Tenant if said space has not previously been improved. Landlord agrees, that Tenant shall have the right, until July 1, 1998 to expand the Premises initially demised by up to 5,000 rentable square feet and Landlord agrees that it will retain at a minimum approximately 5,000 rentable square feet adjacent to the Premises (in a location acceptable to Landlord which results in a readily leasable configuration for the balance of the sixth (6th) floor not leased to Tenant). Said space shall be leased to Tenant upon all of the terms, conditions and rent set forth herein for the Premises initially intended to be demised hereunder, except that there shall be no Section 23.1 Construction Allowance other than for item (b) (8), to the extent executive offices are included in such additional space and there shall be included the Space Planning Allowance set forth in Section 22.0(b).

Appears in 1 contract

Samples: Fourth Shift Corp

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