Structural Maintenance. Notwithstanding anything to the contrary in Paragraph 11.B above, (i) Landlord shall repair, including replacement related to, damage to the structural shell, foundation, and roof structure (but not the interior improvements, roof membrane, or glazing) of the Building leased hereunder that exist as of the Commencement Date at Landlord’s cost, and (ii) Landlord shall repair, including replacement related to, damage to the structural shell, foundation, and roof structure (but not the interior improvements, roof membrane, or glazing) of the Building leased hereunder occurring after the Commencement Date at Landlord’s cost, however, Landlord shall amortize the cost of the repair pursuant to the formula referenced in subclause (ii) hereof over the useful life of said repair, and Tenant shall be responsible for paying to Landlord, within thirty days of written notice from Landlord, one hundred percent (100%) of Tenant’s Proportionate Share of the Amortized Cost over the remaining Term of the Lease, plus Tenant’s Proportionate Share of the insurance deductible (if such damage is the result of an insured peril); provided Tenant has not caused such damage, in which event Tenant shall be responsible for one hundred percent (100%) of the insurance deductible and any such costs and expense not reimbursed to Landlord by insurance proceeds for repair and/or replacement or damage so caused by the Tenant and shall pay such amount to Landlord within thirty (30) days of receipt of an invoice from Landlord. For Example: In the event (i) the Amortized Cost of a roof structure repair is $10,000, and (ii) said repair has a useful life of twenty years, Tenant would be charged its Proportionate Share of $854.28 ($10,000 / 20 years / 12 months = $41.67 x 56.95% = $23.73/month x 36 months = $854.28) as Additional Rent, in which case said amount would be due within thirty (30) days of Tenant’s receipt of an invoice from Landlord. Tenant hereby waives all rights under, and benefits of subsection I of Section 1932 and Sections 1941 and 1942 of the California Civil Code and under any similar law, statute or ordinance now or hereafter in effect. Notwithstanding the foregoing, a crack in the foundation or exterior walls, or any other defect in the Building that does not endanger the structural integrity of the building for which Tenant is or is not responsible, or which is not life-threatening, shall not be considered material, and Landlord may elect, in its sole and absolute discretion, not to repair and/or replace the same; however, Landlord may require Tenant to repair and/or replace the same at Tenant’s sole cost and expense, within thirty days of written notice from Landlord, if Tenant is responsible. In the event the Term of the Lease is extended for any reason whatsoever, Tenant’s Proportionate Share of the Amortized Cost of the earlier repair and/or replacement cost shall be increased to include the additional amount payable to Landlord due to the Extended Term of the Lease. For Example: In the event: (i) the roof structure was repaired as illustrated above; and (ii) this Lease is extended for an additional two (2)year period, Tenant would be liable for an additional $569.52 payment to Landlord equal to Tenant’s Proportionate Share ($23.73/month x 24 months) as Additional Rent. Said payment would be due in full within thirty (30) days of Tenant’s receipt of an invoice from Landlord.
Appears in 1 contract
Structural Maintenance. Notwithstanding Effective March 1, 2011 and notwithstanding anything to the contrary in Paragraph 11.B 11.A above, (i) Landlord shall repair, including replacement related to, damage to the structural shell, foundation, roof structure and roof structure membrane (provided Landlord replaces the entire roof membrane) (but not the interior improvements, roof membrane, improvements or glazing) of the Building leased hereunder that exist as of the Commencement Date at Landlord’s cost, and (ii) Landlord shall repair, including replacement related to, damage to the structural shell, foundation, and roof structure (but not the interior improvements, roof membrane, or glazing) of the Building leased hereunder occurring after the Commencement Date at Landlord’s cost, ; however, Landlord shall amortize the cost of the repair pursuant such repairs or replacements not covered by an insured peril using an interest rate equal to the formula referenced in subclause higher of (i) Landlord’s annual borrowing rate per annum or (ii) hereof the prime rate of interest plus one per annum over the useful economic life of said repair, such repairs or replacements as determined by Landlord in its reasonable discretion in accordance with GAAP (“Amortized Cost”) and Tenant shall be responsible for paying to Landlord, within thirty days of written notice from Landlord, one hundred percent (100%) of Tenant’s pay its Proportionate Share of the said Amortized Cost monthly as Additional Rent over the term remaining Term in the Lease subject to Paragraph 50 of the Lease, plus Tenant’s Proportionate Share of the insurance deductible (if such damage is the result of an insured peril); provided Tenant has not caused such damage, in which event Tenant shall be responsible for one hundred percent (100%) of the insurance deductible and any such costs and expense not reimbursed to Landlord by insurance proceeds for repair and/or replacement or damage so caused by the Tenant and shall pay such amount to Landlord within thirty (30) days of receipt of an the invoice from Landlord. For Example: In the event (i) the Amortized Cost of a roof structure repair is $10,000, and (ii) said repair has a useful life of twenty years, Tenant would be charged its Proportionate Share of $854.28 ($10,000 / 20 years / 12 months = $41.67 x 56.95% = $23.73/month x 36 months = $854.28) as Additional Rent, in which case said amount would be due within thirty (30) days of Tenant’s receipt of an invoice from Landlorddate. Tenant hereby waives all rights under, and benefits of subsection I of Section 1932 and Sections 1941 and 1942 of the California Civil Code and under any similar law, statute or ordinance now or hereafter in effect. Notwithstanding the foregoing, a crack in the foundation or exterior walls, or any other defect in the Building that does not endanger the structural integrity of the building for which Tenant is or is not responsible, or which is not life-threatening, shall not be considered material, and Landlord may elect, in its sole and absolute discretion, not to repair and/or replace the same; however, Landlord may require Tenant to repair and/or replace the same at Tenant’s sole cost and expense, within thirty days of written notice from Landlord, if Tenant is responsibleresponsible for the repair and/or replacement. In the event the Term of the Lease is extended for any reason whatsoever, Tenant’s Proportionate Share of the Amortized Cost of the earlier repair and/or replacement cost shall be increased to include the additional amount payable to Landlord due to the Extended Term of the Lease. For Example: In the event: (i) the roof structure was repaired as illustrated above; and (ii) this Lease is extended for an additional two (2)year period, Tenant would be liable for an additional $569.52 payment to Landlord equal to Tenant’s Proportionate Share ($23.73/month x 24 months) as Additional Rent. Said payment would be due in full within thirty (30) days of Tenant’s receipt of an invoice from Landlord.
Appears in 1 contract
Samples: Actividentity Corp
Structural Maintenance. Notwithstanding anything to the contrary in Paragraph 11.B above, (i) Landlord shall repair, maintain in good condition and repair the structure of the Premises including replacement related to, damage to the structural shell, foundation, and roof structure (but not the interior improvementsroof, roof membrane, or glazing) of the Building leased hereunder that exist as of the Commencement Date at Landlord’s costdrains, and (ii) Landlord shall repairgutters, including replacement related to, damage to the structural shelldownspouts, foundation, exterior walls, floor slab, parking areas, driveways and roof structure (but not sidewalks. The sprinkler system suspended in the interior improvements, roof membrane, or glazing) Premises shall be the sole responsibility of Tenant. Landlord shall make all repairs becoming necessary by reason of any structural defect in the Building leased hereunder occurring after the Commencement Date at Landlord’s costPremises; provided, however, that Landlord shall amortize not be required to make any repairs necessitated by reason of any act or omission by Tenant, its employees, agents, licensees, invitees or anyone entering the cost of the repair pursuant to the formula referenced in subclause (ii) hereof over the useful life of said repairPremises by force, and Tenant shall be responsible for paying to Landlord, within thirty days of written notice from Landlord, one hundred percent (100%) of Tenant’s Proportionate Share of the Amortized Cost over the remaining Term of the Lease, plus Tenant’s Proportionate Share of the insurance deductible (but if such damage is the result of an insured peril); provided Tenant has not caused such damage, in which event Tenant shall be responsible for one hundred percent (100%) of the insurance deductible and Landlord does make any such costs and expense not reimbursed repairs, Tenant agrees to Landlord by insurance proceeds for repair and/or replacement or damage so caused by the Tenant and shall pay such amount to Landlord promptly, within thirty (30) days of after receipt of an invoice from demand, reimburse Landlord for the full cost thereof. Any capital repairs to the roof or roof membrane, drains, gutters, downspouts, foundation or exterior walls shall be made at Landlord. For Example: In the event (i) the Amortized Cost of a roof structure repair is $10,000, ’s sole cost and (ii) said repair has a useful life of twenty years, Tenant would be charged its Proportionate Share of $854.28 ($10,000 / 20 years / 12 months = $41.67 x 56.95% = $23.73/month x 36 months = $854.28) as Additional Rent, in which case said amount would be due within thirty (30) days of Tenant’s receipt of an invoice from Landlord. Tenant hereby waives all rights under, and benefits of subsection I of Section 1932 and Sections 1941 and 1942 of the California Civil Code and under any similar law, statute or ordinance now or hereafter in effectexpense. Notwithstanding the foregoing, a crack in the foundation or exterior walls, or cost of any other defect in the Building that does not endanger the structural integrity of the building for which Tenant is repairs or is not maintenance incurred by Landlord shall constitute Operating Expenses. Landlord shall be responsible, or which is not life-threatening, shall not be considered material, and Landlord may elect, in at its sole and absolute discretion, not to repair and/or replace the same; however, Landlord may require Tenant to repair and/or replace the same at Tenant’s sole cost and expense, within thirty days for all repairs or replacements to the HVAC systems costing over $500.00; provided, however, that the figure of $500 shall be increased by $250 on the fifth anniversary of the Commencement Date, and on the first day of each fifth year thereafter during the Term including any renewals or extensions thereof. Tenant shall be responsible for the repair of any pipes or sprinkler systems rendered inoperative or damaged by Tenant’s failure to keep the Premises adequately heated and for any damages or injuries caused by such failure. No liability shall be imposed on Landlord because of any injury or damage to personal property, or because of any interference with the services and facilities listed above, caused by accidents, riots, strikes, or any other reason beyond the control of Landlord, and Landlord shall be under no duty to restore any of such services and facilities or to make any of the repairs for which Landlord is obligated, except after receipt of written notice from Tenant of a need therefor, and there shall be a reasonable period of time within which Landlord may make such repairs. Any costs which would be considered capital expenses under generally accepted accounting principles shall not be treated as Operating Expenses, and shall be paid solely by Landlord. Landlord hereby represents and warrants to Tenant that, if Tenant is responsible. In the event the Term as of the Lease is extended for any reason whatsoeverCommencement Date, Tenant’s Proportionate Share of the Amortized Cost of the earlier repair and/or replacement cost shall be increased to include the additional amount payable to Landlord due to the Extended Term of the Lease. For Example: In the event: (i) all building systems are in good working order, (ii) Landlord is not aware of any structural or major repairs required to be effected to the roof structure was repaired as illustrated abovePremises; (iii) Landlord has not received any notice of noncompliance with laws with respect to the Premises, which has not been remedied; and (iiiv) this Lease is extended for an additional two (2)year periodto the best of Landlord’s knowledge, Tenant would be liable for an additional $569.52 payment the Premises presently complies with all laws applicable to Landlord equal to Tenant’s Proportionate Share ($23.73/month x 24 months) as Additional Rent. Said payment would be due in full within thirty (30) days the structural components, base building systems and common areas of Tenant’s receipt of an invoice from Landlordthe Premises.
Appears in 1 contract
Structural Maintenance. Notwithstanding anything to the contrary in Paragraph 11.B above, (i) Landlord shall repair, including replacement related to, damage to the structural shell, foundation, and roof structure (but not the interior improvements, roof membrane, or glazing) of the Building leased hereunder that exist as of the Commencement Date at Landlord’s cost, and (ii) Landlord shall repair, including replacement related to, damage to the structural shell, foundation, and roof structure (but not the interior improvements, roof membrane, or glazing) of the Building leased hereunder occurring after the Commencement Date at Landlord’s cost, however, Landlord shall amortize the cost of the repair pursuant to the formula referenced in subclause (ii) hereof over the useful life of said repair, and Tenant shall be responsible for paying to Landlord, within thirty days of written notice from Landlord, one hundred percent (100%) of Tenant’s Proportionate Share of the Amortized Cost over the remaining full Term of the Lease, plus Tenant’s Proportionate Share of the insurance deductible (if such damage is the result of an insured peril); provided Tenant has not caused such damage, in which event Tenant shall be responsible for one hundred percent (100%) of the insurance deductible and any such costs and expense not reimbursed to Landlord by insurance proceeds for repair and/or replacement or damage so caused by the Tenant and shall pay such amount to Landlord within thirty (30) days of receipt of an the invoice from Landlorddate. For Example: In the event (i) the Amortized Cost of a roof structure repair is $10,000, and (ii) said repair has a useful life of twenty years, Tenant would be charged its Proportionate Share of $854.28 346.69 ($10,000 / 20 years / 12 /12 months = $41.67 x 56.9522.49% = $23.739.37/month x 36 37 months = $854.28346.69) as Additional Rent, in which case said amount would be due within thirty (30) days of Tenant’s receipt of an invoice from Landlord. Tenant hereby waives all rights under, and benefits of subsection I of Section 1932 and Sections 1941 and 1942 of the California Civil Code and under any similar law, statute or ordinance now or hereafter in effect. Notwithstanding the foregoing, a crack in the foundation or exterior walls, or any other defect in the Building that does not endanger the structural integrity of the building Building and/or Premises for which Tenant is or is not responsible, or which is not life-threatening, shall not be considered material, and Landlord may elect, in its sole and absolute discretion, not to repair and/or replace the same; however, Landlord may require Tenant to repair and/or replace the same at Tenant’s sole cost and expense, within thirty days of written notice from Landlord, if Tenant is responsible. In the event the Term of the Lease is extended for any reason whatsoever, Tenant’s Proportionate Share of the Amortized Cost of the earlier repair and/or replacement cost shall be increased to include the additional amount payable to Landlord due to the Extended Term of the Lease. For Example: In the event: (i) the roof structure was repaired as illustrated above; and (ii) this Lease is extended for an additional two (2)year one year period, Tenant would be liable for an additional $569.52 payment to Landlord equal to Tenant’s Proportionate Share of $112.44 ($23.739.37/month x 24 12 months) as Additional Rent. Said payment would be due in full within thirty (30) days of Tenant’s receipt of an invoice from Landlord.
Appears in 1 contract
Samples: Lease Agreement (Sonics, Inc.)
Structural Maintenance. Notwithstanding anything to the contrary in Paragraph 11.B above, (i) Landlord shall repair, including replacement related to, damage to the structural shell, foundation, and roof structure (but not the interior improvements, roof membrane, or glazing) of the Building leased hereunder that exist as of the Commencement Date at Landlord’s cost, and (ii) Landlord shall repair, including replacement related to, damage to the structural shell, foundation, and roof structure (but not the interior improvements, roof membrane, or glazing) of the Building leased hereunder occurring after the Commencement Date at Landlord’s cost, however, Landlord shall amortize the cost of the repair pursuant to (together with interest at the formula referenced in subclause higher of (i) ten percent (10%) per annum, (ii) hereof the prime rate of interest plus one or (iii) Landlord’s borrowing rate as of the date of said repair and/or replacement on the unamortized balance) over the useful life of said repairrepair (the “Amortized Cost”), and Tenant shall be responsible for paying to LandlordLandlord (i) Tenant’s Proportionate Share of the cost of repair for the full Initial: [Illegible] Multi Tenant/Single Parcel Page 10 of 30 BUILDING: Potrero 1 PROPERTY: 01-0034 UNIT: 1 LEASE ID: 0034-RUCK01-01 expired Term of the Lease, within thirty days of written notice from Landlordand (ii) monthly thereafter, one hundred percent (100%) of Tenant’s Proportionate Share of the Amortized Cost over throughout the remaining Term of the Lease, Lease plus Tenant’s Proportionate Share of the insurance deductible (if such damage is the result of an insured peril); provided Tenant has not caused such damage, in which event Tenant shall be responsible for one hundred percent (100%) of the insurance deductible and any such costs and expense not reimbursed to Landlord by insurance proceeds for repair and/or replacement or damage so caused by the Tenant and shall pay such amount to Landlord within thirty (30) days of Tenant’s receipt of an invoice from Landlord. For Example: In the event (i) the Amortized Cost cost of a roof structure repair is $10,00010,000 during the sixth (6th) month of the Lease Term, and (ii) said repair has a useful life of twenty years, Tenant would be charged its shall pay to Landlord, (a) within thirty days of receipt of an invoice Tenant’s Proportionate Share of the cost of said repair for the six months of the Lease Term that have expired in the amount of $854.28 120.54 ($10,000 / 20 years / 12 /12 months = $41.67 per month x 56.9548.21% = $23.73/20.09 x 6 months), and (b) at the beginning of each month x 36 thereafter throughout the remaining Lease Term, its Proportionate Share of the Amortized Cost in the amount of $46.14 ($10,000 (plus 10% interest) / 20 years /12 months = $854.28) as Additional Rent95.70 per month x 48.21%), and in the event the Lease is extended for any reason whatsoever, Tenant shall continue to pay said $46.14 each month throughout the Extended Term; however, in which case said amount would be due within thirty (30) days of no event shall Tenant’s receipt total cost, excluding interest costs, exceed the total cost of an invoice from Landlordsaid repair and/or replacement. Tenant hereby waives all rights under, and benefits of subsection I of Section 1932 and Sections 1941 and 1942 of the California Civil Code and under any similar law, statute or ordinance now or hereafter in effect. Notwithstanding the foregoing, a crack in the foundation or exterior walls, or any other defect in the Building that does not endanger the structural integrity of the building for which Tenant is or is not responsible, or which is not life-threatening, shall not be considered material, and Landlord may elect, in its sole and absolute reasonable discretion, not to repair and/or replace the same; however, Landlord may require Tenant to repair and/or replace the same at Tenant’s sole cost and expense, within thirty days of written notice from Landlord, if Tenant is responsible. In the event the Term of the Lease is extended for any reason whatsoever, Tenant’s Proportionate Share of the Amortized Cost of the earlier repair and/or replacement cost shall be increased to include the additional amount payable to Landlord due to the Extended Term of the Lease. For Example: In the event: (i) the roof structure was repaired as illustrated above; and (ii) this Lease is extended for an additional two (2)year period, Tenant would be liable for an additional $569.52 payment to Landlord equal to Tenant’s Proportionate Share ($23.73/month x 24 months) as Additional Rent. Said payment would be due in full within thirty (30) days of Tenant’s receipt of an invoice from Landlord.
Appears in 1 contract
Samples: Lease Agreement
Structural Maintenance. Notwithstanding anything to the contrary in Paragraph 11.B above, (i) Landlord shall repair, including replacement related to, damage to the structural shell, foundation, and roof structure (but not the interior improvements, roof membrane, or glazing) of the Building leased hereunder that exist as of the Commencement Date at Landlord’s cost, and (ii) Landlord shall repair, including replacement related to, damage to the structural shell, foundation, and roof structure (but not the interior improvements, roof membrane, or glazing) of the Building leased hereunder occurring after the Commencement Date at Landlord’s cost, however, Landlord shall amortize the cost of the repair pursuant to (together with interest at the formula referenced in subclause higher of (i) ten percent (10%) per annum, (ii) hereof the prime rate of interest plus one or (iii) Landlord’s borrowing rate as of the date of said repair and/or replacement on the unamortized balance) over the useful life of said repairrepair (the “Amortized Cost”), and Tenant shall be responsible for paying to LandlordLandlord (i) Tenant’s Proportionate Share of the cost of repair for the full BUILDING: Potrero 1 PROPERTY: 01-0034 UNIT: 1 LEASE ID: 0034-RUCK01-01 expired Term of the Lease, within thirty days of written notice from Landlordand (ii) monthly thereafter, one hundred percent (100%) of Tenant’s Proportionate Share of the Amortized Cost over throughout the remaining Term of the Lease, Lease plus Tenant’s Proportionate Share of the insurance deductible (if such damage is the result of an insured peril); provided Tenant has not caused such damage, in which event Tenant shall be responsible for one hundred percent (100%) of the insurance deductible and any such costs and expense not reimbursed to Landlord by insurance proceeds for repair and/or replacement or damage so caused by the Tenant and shall pay such amount to Landlord within thirty (30) days of Tenant’s receipt of an invoice from Landlord. For Example: In the event (i) the Amortized Cost cost of a roof structure repair is $10,00010,000 during the sixth (6th) month of the Lease Term, and (ii) said repair has a useful life of twenty years, Tenant would be charged its shall pay to Landlord, (a) within thirty days of receipt of an invoice Tenant’s Proportionate Share of the cost of said repair for the six months of the Lease Term that have expired in the amount of $854.28 120.54 ($10,000 / 20 years / 12 /12 months = $41.67 per month x 56.9548.21% = $23.73/20.09 x 6 months), and (b) at the beginning of each month x 36 thereafter throughout the remaining Lease Term, its Proportionate Share of the Amortized Cost in the amount of $46.14 ($10,000 (plus 10% interest) / 20 years /12 months = $854.28) as Additional Rent95.70 per month x 48.21%), and in the event the Lease is extended for any reason whatsoever, Tenant shall continue to pay said $46.14 each month throughout the Extended Term; however, in which case said amount would be due within thirty (30) days of no event shall Tenant’s receipt total cost, excluding interest costs, exceed the total cost of an invoice from Landlordsaid repair and/or replacement. Tenant hereby waives all rights under, and benefits of subsection I of Section 1932 and Sections 1941 and 1942 of the California Civil Code and under any similar law, statute or ordinance now or hereafter in effect. Notwithstanding the foregoing, a crack in the foundation or exterior walls, or any other defect in the Building that does not endanger the structural integrity of the building for which Tenant is or is not responsible, or which is not life-threatening, shall not be considered material, and Landlord may elect, in its sole and absolute reasonable discretion, not to repair and/or replace the same; however, Landlord may require Tenant to repair and/or replace the same at Tenant’s sole cost and expense, within thirty days of written notice from Landlord, if Tenant is responsible. In the event the Term of the Lease is extended for any reason whatsoever, Tenant’s Proportionate Share of the Amortized Cost of the earlier repair and/or replacement cost shall be increased to include the additional amount payable to Landlord due to the Extended Term of the Lease. For Example: In the event: (i) the roof structure was repaired as illustrated above; and (ii) this Lease is extended for an additional two (2)year period, Tenant would be liable for an additional $569.52 payment to Landlord equal to Tenant’s Proportionate Share ($23.73/month x 24 months) as Additional Rent. Said payment would be due in full within thirty (30) days of Tenant’s receipt of an invoice from Landlord.
Appears in 1 contract