SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice to Tenant, to substitute for the Premises other office space in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
Appears in 2 contracts
Samples: Office Lease (Appdynamics Inc), Office Lease (Appdynamics Inc)
SUBSTITUTION OF OTHER PREMISES. Landlord may electshall have the one-time right (except during the first or last 12 months of the Lease Term), by written upon giving Tenant not less than one hundred eighty (180) days’ notice to Tenantin writing, to substitute for the Premises other office space provide and furnish Tenant with comparable space, including comparable improvements, elsewhere in the Building or elsewhere in the Project of approximately the same size as the Premises and to place Tenant in such space (herein called the “Substitute Premises”) designated by Landlordprovided, provided however, that if Tenant disagrees that such Substitute Premises substitute space is comparable, Tenant shall be comparable have the right to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan terminate this Lease as of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”)proposed relocation date, and Landlord shall thereafter build out reimburse Tenant for its reasonable moving expenses). If the Substitute Premises in accordance with total rentable square footage of the Relocation Plans. Notwithstanding anything to new space should exceed the contrary set forth in this Article 22total of the original Premises, Tenant’s Rent shall be increased proportionately (but only to the extent Tenant request any upgrades in requests space larger than the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)original Premises). FurtherIf, Landlord shallhowever, at Landlord’s expensesuch total rentable square footage shall be less, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to Rent shall be performed therein by Tenant to prepare the same for Tenant’s occupancydecreased proportionately. In the event Tenant is relocated in accordance with this Article 22of any such relocation of Tenant, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Landlord shall pay for Tenant’s Share) shall be modified accordinglyreasonable moving costs and other ancillary expenses (as invoiced by Tenant, not to exceed $2,500.00); provided, however, that notwithstanding the foregoing, Tenant’s Base Rent Tenant shall not increase as a result be entitled to any compensation for damages for any interference with or interruption of such relocation. Simultaneously with its business during or resulting from such relocation of the Premises(provided Landlord complies with its Lease obligations). However, the parties Landlord shall immediately execute an amendment make reasonable efforts to minimize such interference. If Landlord relocates Tenant to such new space, this Lease stating and each and all of its terms, covenants and conditions shall remain in full force and effect and be deemed applicable to such new space, with the relocation exception of the Premisesany right(s) of first refusal, right(s) of first offer, or expansion right(s) or option(s), which shall be deemed void, and amending those Sections of such new space shall thereafter be deemed to be the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute “Premises)”.
Appears in 1 contract
Samples: Keystone Technology Park Lease (Heat Biologics, Inc.)
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by shall have the option at any time to relocate Tenant to any other leasable space in the Office Park provided that said space shall be approximately the same size as the Premises and that Landlord shall pay the cost of moving Tenant’s furniture and equipment to the new space with prior written notice to the Tenant, to substitute for the Premises other office . The new space in the Building (herein called the “Substitute Premises”) designated by Landlord, provided shall include tenant improvements that such Substitute Premises shall be comparable are substantially equivalent to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the tenant improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts any required tenant improvements shall be paid by Landlord. Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after Tenant approves plans for the construction of replacement stationeryrequired tenant improvements at the new space, if any. Tenant agrees shall not unreasonably withhold or delay its approval of any plans for the construction of tenant improvements. Landlord shall give Tenant not less than thirty (30) days advance notice of the estimated move in date. Prior to cooperate with Landlord so as the date that Tenant is moved to facilitate the prompt completion by Landlord new space, Tenant shall remain in the Premises and shall continue to perform all of its obligations under this Article and Lease. After Tenant moves into the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentencenew space, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon shall remain in full force and effect and be deemed applicable to such rentable area (includingnew space, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoingexcept as to Fixed Rent, Tenant’s Base Rent share of Operating Expenses, all of which shall not increase as a result be adjusted based on the relationship between the number of such relocationrentable square feet in the original Premises and the number of rentable square feet in the new space. Simultaneously with such relocation of the PremisesUpon Tenant’s election to be relocated, the parties Landlord and Tenant shall immediately execute an amendment to amend this Lease stating to provide for the relocation of the Premises. If the proposed substitute space will not meet the needs of Tenant, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitationat Tenant’s reasonable discretion, the location and Tenant shall have the rentable area option of rejecting the Substitute Premises)relocation. In the event the Tenant rejects the relocation proposal, Landlord may elect to allow Tenant to remain in the Premises pursuant to the then-current lease term or terminate the lease without penalty to either party.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (Aware Inc /Ma/)
SUBSTITUTION OF OTHER PREMISES. Landlord may electshall have the right, by in its sole discretion, upon not less than thirty (30) days prior written notice to Tenant, but not more than once during the Lease Term and not prior to substitute for the Premises Must Take Commencement Date, to move Tenant to other office space in the Building reasonably comparable in size, layout and finish to the Premises (herein called the “Substitute Premises”) designated by Landlord), provided that such Substitute Premises and all terms hereof shall be comparable apply to the Premises (e.g. comparable sizenew space with equal force. In such event, comparable finishes, comparable number of offices Landlord shall give Tenant prior notice and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architectsprovide Tenant, at Landlord’s cost, to prepare plans sole cost and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, with tenant improvements and appurtenances at least equal reasonably comparable in quality to those contained in the Premises at Premises. In addition, Landlord shall be obligated to pay to Tenant an allowance (the time such notice of substitution is given “Relocation Allowance”) equal to the reasonable out-of-pocket moving, re-cabling and re-fixturing expenses actually incurred by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel Tenant to perform under Tenant’s direction the moving of Tenant’s Property move from the Premises to the Substitute PremisesPremises (including, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its but not limited to, the physical move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications relocation of Tenant’s cabling and telephone and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premisessystems, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same costs for Tenant’s occupancysignage relocation, stationery, business cards, invoices, brochures and the like if the address, facsimile or telephone numbers of Tenant or any of its licensees are changed in any manner due to the relocation); provided that, Tenant shall submit to Landlord a detailed description of the type and estimated amount of such moving expenses prior to the move and Landlord shall have consented to such expenses, which consent shall not be unreasonably withheld. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises new space is not equal to or greater the rentable area of the PremisesPremises at the time of such relocation, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent “Rent” payable under this Lease, and “Tenant’s Share”) shall be modified accordingly; provided. In the event Tenant is relocated in accordance with this Article 22, however, that notwithstanding and the foregoing, Tenant’s Base Rent shall not increase as a result rentable area of the new space is greater the rentable area of the Premises at the time of such relocation, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area shall not be increased. Simultaneously with such relocation of to the Substitute Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
Appears in 1 contract
Samples: Office Lease (Oxigene Inc)
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right at any time to Tenant, move Tenant to substitute for the Premises any other office leasable space in the Building (herein called the “Substitute Premises”) designated by Landlord, Project provided that such Substitute Premises said space shall be comparable to approximately the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information same size as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and that Landlord shall occupy pay the Substitute Premises upon substantial completion cost of the work to be performed by Landlord in the Substitute Premises pursuant moving Tenant's furniture and equipment to the Relocation Plans and this Article 22 (and Landlord new space. The new space shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of include tenant improvements that are substantially equivalent to the tenant improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts any required tenant improvements shall be paid by Landlord. If Landlord elects to relocate Tenant, Landlord shall give Tenant written notice of replacement stationeryits election and Tenant shall have thirty (30) days thereafter to agree to be relocated in accordance with the terms and conditions of this Section 29 or to elect to terminate this Lease; provided, however, Tenant shall have no right to terminate this Lease pursuant to this Section 29 (and Tenant shall be deemed to have accepted such new space) unless the new space is ninety-four percent (94%) or less than the original Premises. If Tenant elects to terminate this Lease within said thirty (30) day period or fails to respond to Landlord's notice within said thirty (30) day period, this Lease shall then terminate on the date which is sixty (60) days after the date Landlord gave Tenant its written notice electing to relocate Tenant. Landlord shall have no liability to Tenant as a result of Tenant's election to terminate this Lease. Prior to said termination, Landlord and Tenant shall perform all of their obligations under this Lease. If Tenant elects to be relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) Tenant agrees to cooperate with be relocated and (b) approves plans for the construction of required tenant improvements at the new space, if any. Tenant shall not unreasonably withhold or delay its approval of any plans for the construction of tenant improvements. Landlord so as shall give Tenant thirty (30) days' advance notice of the estimated move in date. Prior to facilitate the prompt completion by Landlord date that Tenant is moved to the new space, Tenant shall remain in the Premises and shall continue to perform all of its obligations under this Article and Lease. After Tenant moves into the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentencenew space, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon shall remain in full force and effect and be deemed applicable to such rentable area (includingnew space, without limitationexcept as to Base Rent, the amounts Tenant's Share of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoingOperating Expense increases, Tenant’s Base Rent Share of Real Property Tax increases and the number of parking spaces Tenant shall not increase as a result be entitled to use, all of such relocationwhich shall be adjusted based on the relationship between the number of rentable square feet in the original Premises and the number of rentable square feet in the substituted space. Simultaneously with such relocation of the PremisesUpon Tenant's election to be relocated, the parties Landlord and Tenant shall immediately execute an amendment to amend this Lease stating to provide for the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right to Tenant, relocate Tenant to substitute for the Premises other office space in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be or Project comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises following: (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and a) Landlord shall provide give Tenant with at least thirty sixty (3060) days’ ' notice of Landlord’s substantial completion 's intention to relocate the Premises; (b) the new premises shall be converted at Landlord's expense to substantially the same size, dimensions, configuration, decor, and nature as the Premises described in this Lease; (c) the physical relocation of the improvements within Premises shall be accomplished by Landlord at its expense on a weekend. If the Substitute Premises so relocation has not been completely accomplished before the Monday immediately following that Tenant weekend, Rent shall have a reasonable opportunity to schedule the move of its personal property abatx xx full from the Premises into time that the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality physical relocation commences to those contained in the Premises at the time such notice of substitution that it is given by Landlord, in accordance with the Relocation Plans, completed; (iid) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of the relocation (including costs incurred in changing addresses on stationery, business cards, directories, advertising, and other such items) shall be paid by Landlord in a sum not to exceed One Thousand Dollars; (e) Landlord shall not have the right to relocate the Premises more than once during the Lease Term; (f) if the new premises are smaller than the Premises as they existed before the relocation. Simultaneously with such relocation , Basic Rent shall be reduced to an amount computed by multiplying the Basic Rent specified in Section 4.1 by a fraction, the numerator of which shall be the Rentable Area of the Premisesnew premises and the denominator of which shall be the Rentable Area of the Premises immediately before the relocation; (g) if the Rentable Area of the new premises is larger than the Rentable Area of the Premises immediately before the relocation, Tenant's Share of Direct Expenses shall not increase but shall continue to be based on the Rentable Area of the Premises immediately before the relocation; (h) the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises and the reduction, if any, in Basic Rent. After the date on which Tenant is relocated to the new premises, the term "Premises" in this Lease shall refer to the new premises; (i) if a dispute arises in connection with this Section, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as dispute shall be necessary resolved by arbitration under Section 26.2, except that: (1) if the dispute concerns the recalculation of Rent under subparagraph (f) or the reduction of Tenant's Share of Direct Expenses under Subsection 5.2.6, the/each arbitrator must be a licensed architect with a minimum of five (5) years' space planning experience in office buildings similar to accurately describe the Substitute Premises Building; and (including, without limitation, 2) the location and arbitrator(s) must render a final decision within thirty (30) days after the rentable area of date on which the Substitute Premises).arbitrator(s) is/are selected. *SEE ADDENDUM
Appears in 1 contract
Samples: Acc Consumer Finance Corp
SUBSTITUTION OF OTHER PREMISES. Landlord may electAt any time following the first anniversary of the Lease Commencement Date, by written upon no less than [***] notice to Tenant, Landlord shall have the one-time right to substitute for move Tenant to other space located on the Premises other office space in fourth (4th) or sixth (6th) floors of the Building (herein called the “Substitute Replacement Premises”), and all terms hereof shall apply to the new space with equal force; provided, however, with regard thereto, (i) designated by Landlord, provided that the size of such Substitute Replacement Premises shall be comparable at least [***] of the size of the then-existing Premises, (ii) such Replacement Premises shall have substantially the same perimeter configuration as the Premises, (iii) such Replacement Premises shall have direct access to the interior elevator lobby, (iv) such Replacement Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan contiguous, and (v) all of the Substitute terms of this Lease shall apply to the Replacement Premises with equal force; provided that Tenant’s then existing monetary obligations under this Lease shall not be increased as a result of such relocation of the Premises and Tenant’s then existing parking rights under this Lease shall not be reduced as a result of such relocation of the Premises; provided further, however, to the extent the rentable square footage of the Replacement Premises is less than Premises, the Base Rent and indicate the area of the Substitute Premises, which space plan Tenant’s Share shall be approved by proportionately adjusted. In such event, Landlord shall give Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheldprior notice, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architectsshall provide Tenant, at Landlord’s cost, to prepare plans sole cost and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, with improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under and shall move Tenant’s direction the moving of Tenant’s Property from the Premises effects to the Substitute Premisesnew space at Landlord’s sole cost and expense at such time and in such manner as to inconvenience Tenant as little as reasonably practicable. In addition, and (iii) Landlord shall reimburse Tenant for all actual the reasonable costs and reasonable out-of-pocket costs expenses incurred by Tenant in connection with its move from the Premises to the Substitute Premises, such relocation (specifically including, without limitationbut not limited to, the cost to install new communications (x) Tenant’s actual, reasonable third-party expenses of moving its property, (y) Tenant’s actual, reasonable third-party expenses of removing, relocating and computer lines (to the extent not installed by Landlord as part of its installation of the improvements reinstalling Tenant’s security systems, voice and data cabling, telecommunications equipment and furniture systems in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Replacement Premises, and (z) the cost costs of reasonable amounts supplies of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord stationery and telephone installations), within fifteen (15) days of its obligations under this Article and the prompt surrender by Tenant Landlord’s receipt of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information an reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocationdetailed invoice therefor. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises. Landlord shall not have the right to move Tenant to any Replacement Premises pursuant to the terms of this Article 22 following the sixth (6th) anniversary of the Lease Commencement Date. Moreover, in the event that Tenant is prevented from using, and amending those Sections does not use, the Premises, the Replacement Premises, or any portion thereof, solely and exclusively as a result of Landlord’s exercise of its rights under this Article 22 (e.g., it is not commercially reasonable to move all, or a defined portion [e.g., a department], of Tenant’s *** Confidential portions of this document have been redacted and filed separately with the SummaryCommission. furniture, fixtures and equipment from the Premises to the Relocation Premises without Tenant losing the use of, and replacing Exhibit A to this Leasenot using, either the Premises or the Relocation Premises, or portions thereof (as applicable), for more than one (1) day), then as Tenant’s sole remedy vis-à-vis such event, the Base Rent and Tenant’s Share of Direct Expenses shall be abated or reduced, as shall the case may be, after the date notice is given to Landlord, for such time that Tenant continues to be necessary to accurately describe the Substitute Premises (includingso prevented from using, without limitationand does not use, the location and Premises, the Replacement Premises, or a portion thereof (as applicable), in the proportion of the rentable area of the Substitute portion of the Premises that Tenant is prevented from using and does not use. Notwithstanding the foregoing, Tenant shall use commercially reasonable efforts to cause all removing, relocating and reinstalling work to be completed in an expedient manner so as not to increase or otherwise extend the amount of time that Tenant will be prevent from relocating to, and subsequently using, the Replacement Premises).
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Subject to the following provisions of this Section 24.31, Landlord may elect, by written notice shall have the one-time right to Tenant, move Tenant to substitute for the Premises other office space in the Building (herein called of at least the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be comparable to same size as the Premises (e.g. comparable size, comparable finishes, comparable number of offices the "Relocation Space") and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan located on the ground floor of the Substitute PremisesBuilding, and indicate the area of the Substitute Premises, which space plan all terms hereof shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant apply to the Relocation Plans and this Article 22 (and Space with equal force. In such event, Landlord shall provide give Tenant with at least thirty ninety (3090) days’ ' prior written notice (the "Relocation Notice") of Landlord’s substantial completion 's election to so relocate Tenant. Following Landlord's timely and proper delivery of the improvements within the Substitute Premises so that Tenant a Relocation Notice to Tenant, Landlord shall have a reasonable opportunity to schedule the move of its personal property Tenant's effects from the Premises into to the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, Relocation Space at Landlord’s expense's expense at such time and in such manner as to inconvenience Tenant as little as reasonably practicable, and only after Landlord has delivered the Relocation Space to Tenant with tenant improvements installed therein (iincluding, without limitation, new Identification Signs, as applicable) furnish at Landlord's cost that have been substantially completed and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal are substantially similar to or better in quality to than those contained tenant improvements existing in the Premises at the time Landlord delivered the Relocation Notice to Tenant, provided that such notice Relocation Space shall have at least the same number of substitution is given private offices and conferences rooms existing in the Premises as of the date of Landlord’s delivery of the Relocation Notice. In addition, if Landlord elects to relocate the Premises to a qualified Relocation Space, then Landlord, within thirty (30) days after Landlord's receipt of invoices from Tenant accompanied by contracts, receipts and other back-up documentation reasonably requested by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) shall reimburse Tenant for all actual Tenant's actual, verifiable and reasonable out-of-pocket costs incurred by Tenant in connection with its move expenses for (i) moving Tenant's furniture, fixtures, equipment, and supplies from the Premises to the Substitute PremisesRelocation Space, includingand (ii) if Tenant's suite number for the Premises shall change, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements reprinting Tenant's business stationery in the Substitute Premises), the cost same quality and quantity as Tenant's stationery supply on hand immediately prior to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation 's receipt of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancyNotice. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is Such relocation shall not equal to the rentable area of the Premises, all amounts, percentages and figures appearing terminate or referred to in otherwise affect or modify this Lease based upon such rentable area (including, without limitation, except that from and after the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result date of such relocation, the "Premises" shall refer to the Relocation Space into which Tenant has been moved, rather than the original Premises as defined in this Lease. Simultaneously Prior to or concurrently with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating confirming such relocation. Such relocation shall take place in accordance with and subject to the following: (A) the physical relocation of the Premises, Premises shall be accomplished by Landlord at its expense over a weekend; and amending those Sections (B) if the rentable square feet of the SummaryRelocation Space is larger than the rentable square feet of the Premises immediately before the relocation, the Base Rent and replacing Exhibit A Tenant's Share for the Relocation Space shall not increase but shall continue to be based on the rentable square feet of the Premises immediately before the relocation. Notwithstanding the foregoing to the contrary, if Landlord delivers a Relocation Notice to Tenant during the last twelve (12) months of the Lease Term, then Tenant may, within fifteen (15) days after receipt of such Relocation Notice, elect to terminate this LeaseLease by delivering written notice of termination (the “Relocation Termination Notice”) to Landlord specifying the date upon which Tenant desires to terminate this Lease (the "Relocation Termination Date"), as which Relocation Termination Date must occur no earlier than fifteen (15) days after the date the Relocation Termination Notice is received by Landlord and no later than ninety (90) days after the date the Relocation Termination Notice is received by Landlord and prior to the Lease Expiration Date; provided, however, if Tenant delivers a Relocation Termination Notice to Landlord, then Landlord may rescind Landlord’s Relocation Notice by delivering written notice of such rescission to Tenant within ten (10) days after Landlord’s receipt of the Relocation Termination Notice, in which case, Landlord’s Relocation Notice shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location deemed null and the rentable area of the Substitute Premises)void and this Lease shall continue in full force and effect.
Appears in 1 contract
Samples: Office Lease (Sierra Oncology, Inc.)
SUBSTITUTION OF OTHER PREMISES. Landlord may electshall have the right, by written notice to Tenantbut not more than once during the Lease Term, to substitute for relocate Tenant to other space (the Premises other office space “Relocation Space”) in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be Project comparable to the Premises (e.g. comparable sizeviews, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied , located on a floor served by a space plan the high rise elevator bank of either the Substitute Building or One Embarcadero Center, and tenant improvements of equal or greater quality than those then-existing in the Premises, and indicate the area of the Substitute Premises, which space plan all terms hereof shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not apply to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth Space with equal force and effect, except as otherwise provided in this Article 22, to . To the extent Tenant request any upgrades in the improvements located in such Substitute Premises Relocation Space vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and In such event, Landlord shall provide give Tenant with at least thirty not less than sixty (3060) days’ days prior notice of Landlord’s substantial completion of election to so relocate Tenant, and shall move Tenant’s effects to the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, Relocation Space at Landlord’s sole cost and expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, including the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premiseslines, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so , at such time and in such manner as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by inconvenience Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information as little as reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocationpracticable. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease (or, if the Relocation Space is in a building of the Project other than the Building, Tenant shall execute a new lease with the owner of such building, which shall be on substantially the same terms and conditions as this Lease, and Tenant and Landlord shall enter into a termination of this Lease) stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises Relocation Space (including, without limitation, the location and the rentable area of the Substitute Relocation Space). In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Relocation Space is not equal to the rentable area of the Premises), or any such adjustment to the rentable area of the Premises and/or the Building, or if the Relocation Space is in a building of the Project other than the Building and the rentable area of such other building is not equal to the rentable area of the Building, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the “Rent” and the “Security Deposit,” as those terms are defined in Article 4 and Article 21 of this Lease, respectively, and “Tenant’s Share,” as that term is defined in Section 4.2.9 of this Lease) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Should Tenant refuse to permit Xxxxxxxx to move Tenant to the Relocation Space, Landlord shall have the right to cancel and terminate this Lease effective sixty (60) days from the date of Landlord’s election to relocate Tenant.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right during the Lease Term and Option Term to Tenant, relocate Tenant to substitute for the Premises other office space in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be Project comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan all terms hereof shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything apply to the contrary set forth new space with equal force and effect, except as otherwise provided in this Article 22. In no event shall Landlord exercise such right more than one (1) time during the initial Lease Term and one (1) time during the Option Term timely and properly exercised by Tenant. In any such event, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide give Tenant with at least thirty not less than one hundred twenty (30120) days’ prior notice of Landlord’s substantial completion of election to so relocate Tenant, and shall move Tenant’s effects to the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, new space at Landlord’s expense, sole cost and expense at such time and in such manner as to inconvenience Tenant as little as reasonably practicable. Such new space (ithe “New Premises”) furnish shall be as close as practicable in size and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises condition to the Substitute existing Premises, and Landlord, at its sole cost and expense shall construct improvements in such New Premises to a standard reasonably equivalent (iiibut no less than a Building standard condition) and in a configuration as close as reasonably practicable to the existing Premises. In addition, Landlord shall reimburse Tenant for all actual the reasonable costs and reasonable out-of-pocket costs expenses incurred by Tenant in connection with its move from the Premises to the Substitute Premises, such relocation (including, without limitationbut not limited to, the cost to install new communications and computer lines (to the extent not installed by Landlord as part costs of its installation reasonable supplies of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premisesreplacement stationery, and the cost reasonable costs of reasonable amounts moving of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord any of its obligations under this Article Tenant’s furniture, equipment, personal property and the prompt surrender by Tenant reasonable costs of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for moving and/or installing Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22telephone and data systems installations not moved by Landlord), and the rentable area within thirty (30) days of the Substitute Premises is not equal to the rentable area Landlord’s receipt of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocationan invoice therefor. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises new space (including, without limitation, the location and the rentable area of the Substitute new space). In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the new space is not equal to the rentable area of the Premises), or any such adjustment to the rentable area of the Premises and/or the Building, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the “Rent” and the “Security Deposit,” as those terms are defined in Article 4 and Article 21 of this Lease, respectively, and “Tenant’s Share,” as that term is defined in Section 4.2.9 of this Lease) shall be modified accordingly; provided that in the event that the rentable square footage of the New Premises is more than ten percent (10%) more than the rentable square footage of the Premises, Tenant shall have no obligation to pay any Base Rent, Tenant’s Share or Security Deposit in excess of ten percent (10%) more than rentable square footage of the Premises. In no event shall the rentable square footage of the New Premises be more than ten percent (10%) less than the rentable square footage of the Premises. Should Tenant refuse to permit Landlord to move Tenant to the new space, Landlord shall have the right to cancel and terminate this Lease effective sixty (60) days from the date of Landlord’s election to relocate Tenant.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord may electshall have the right, by in its sole discretion, upon not less than thirty (30) days prior written notice to Tenant, to substitute for move the Office Premises to other office space in the Project on or above the twenty-seventh (27th) floor of the Building and reasonably comparable in size, layout, finish and glass line (herein called on the east, south and west side of the Building) to the Office Premises (the “Substitute Premises”) designated by Landlord), provided that such Substitute Premises and all terms hereof shall be comparable apply to the Premises (e.g. comparable sizenew space with equal force. In such event, comparable finishes, comparable number of offices Landlord shall give Tenant prior notice and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architectsprovide Tenant, at Landlord’s cost, to prepare plans sole cost and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, with tenant improvements and appurtenances at least equal reasonably comparable in quality to those contained in the Premises at Office Premises. In addition, Landlord shall be obligated to pay to Tenant an allowance (the time such notice of substitution is given by Landlord, in accordance with the “Relocation Plans, (iiAllowance”) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises equal to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs moving expenses actually incurred by Tenant in connection with its to move from the Office Premises to the Substitute Premises, including, without limitation, Premises (including the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to physical move Tenant’s furniture from the Office Premises to the Substitute PremisesPremises and costs for stationery, business cards, invoices, brochures and the cost like if the address, facsimile or telephone numbers of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord or any of its obligations under this Article and licensees are changed in any manner due to the prompt surrender by relocation); provided that, Tenant shall submit to Landlord a detailed description of the Premises. Without limiting the generality type and estimated amount of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal such moving expenses prior to the rentable area of the Premisesmove and Landlord shall have consented to such expenses, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent which consent shall not increase as a result of such relocationbe unreasonably withheld. Simultaneously with such relocation of to the Substitute Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Office Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
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SUBSTITUTION OF OTHER PREMISES. Landlord may electshall have the right, by written notice to Tenantnot more than one time during the initial Lease Term (and not more than once during the Option Term, if applicable), to substitute for relocate Tenant to other space (the Premises other office space “Relocation Space”) in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be Project comparable to the Premises (e.g. comparable sizefinishes and configuration, comparable finishes, comparable same number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice , which Relocation Space shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid located on the work, third (3rd) floor or higher in the Project and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord all terms hereof shall thereafter build out the Substitute Premises in accordance with apply to the Relocation Plans. Notwithstanding anything to the contrary set forth Space with equal force and effect, except as otherwise provided in this Article 22, to . To the extent Tenant request any upgrades in the improvements located in such Substitute Premises Relocation Space vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and In such event, Landlord shall provide give Tenant with at least thirty not less than ninety (3090) days’ days prior notice of Landlord’s substantial completion of election to so relocate Tenant, and shall move Tenant’s effects to the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, Relocation Space at Landlord’s expense, (i) furnish sole cost and install expense at such time and in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality such manner as to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) inconvenience Tenant as little as reasonably practicable. Landlord shall reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute PremisesRelocation Space, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the tenant improvements in the Substitute PremisesRelocation Space), the cost to move and reconfigure Tenant’s furniture from the Premises to the Substitute PremisesRelocation Space, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease (or, if the Relocation Space is in a building of the Project other than the Building, Tenant shall execute a new lease with the owner of such building, which shall be on substantially the same terms and conditions as this Lease, and Tenant and Landlord shall enter into a termination of this Lease) stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises Relocation Space (including, without limitation, the location and the rentable area of the Substitute Relocation Space). In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Relocation Space is not equal to the rentable area of the Premises)., or if the Relocation Space is in a building of the Project other than the Building and the rentable area of such other building is not equal to the rentable area of the Building, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the “Rent” and the “Security Deposit,” as those terms are defined in Article 4 and Article 21 of this Lease, respectively, and “Tenant’s Share,” as that term is defined in Section 4.2.10 of this Lease) shall be modified accordingly; provided, however, that notwithstanding the foregoing, (i) in no event shall the rentable area of the Relocation Space be less than one hundred percent (100%) of the rentable area of the Premises; and (ii) none of Tenant’s Base Rent, Tenant’s Share, or the Security Deposit, shall increase as a result of such relocation during the initial Lease Term. Should Tenant refuse to permit Landlord to move Tenant to the Relocation Space, Landlord shall have the right to cancel and terminate this Lease effective sixty (60) days from the date of Landlord’s election to relocate Tenant. 811311.04/WLA 378421-00002/2-14-20/mem/mem -52- 000 XXXXXXX XXXXXXXXX [Akero Therapeutics, Inc.]
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SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right at any time to Tenant, move Tenant to substitute for the Premises any other office leasable space in the Building (herein called the “Substitute Premises”) designated by Landlord, Project provided that such Substitute Premises said space shall be comparable approximately the same size as the Premises and that Landlord shall pay the cost of moving Tenant’s furniture and equipment to the Premises (e.g. comparable sizenew space as well as the reasonable cost of rewiring Tenant’s computers, comparable finishesTenant’s cost of replacing existing stationery on hand and other similar, comparable number of offices customary and conference rooms, comparable ceiling treatment, doors and hardware)reasonable moving costs. Such notice The new space shall be accompanied by a space plan of include tenant improvements that are substantially equivalent to the Substitute tenant improvements contained in the Premises, and indicate the area cost of the Substitute Premises, which space plan any required tenant improvements shall be approved paid by Landlord. If Landlord elects to relocate Tenant, Landlord shall give Tenant within three written notice of its election and Tenant shall have thirty (330) business days following Landlord’s delivery thereof (such approval not thereafter to agree to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises relocated in accordance with the Relocation Plans. Notwithstanding anything terms and conditions of this Section 29 or to the contrary set forth in elect to terminate this Article 22Lease; provided, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry)however, Tenant shall pay have no right to terminate this Lease pursuant to this Section 29 (and Tenant shall be deemed to have accepted such new space) unless the new space is ninety-four percent (94%) or less than the original Premises. If Tenant elects to terminate this Lease within said thirty (30) day period or fails to respond to Landlord’s notice within said thirty (30) day period, promptly upon billing thereforthis Lease shall then terminate on the date which is sixty (60) days after the date Landlord gave Tenant its written notice electing to relocate Tenant. Landlord shall have no liability to Tenant as a result of Tenant’s election to terminate this Lease. Prior to said termination, Landlord and Tenant shall perform all costs of their obligations under this Lease. If Tenant elects to be relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) Tenant agrees to be relocated and expenses incurred by Landlord in connection with such upgraded improvements(b) approves plans for the construction of required tenant improvements at the new space, if any. Tenant shall vacate and surrender not unreasonably withhold or delay its approval of any plans for the Premises and shall occupy the Substitute Premises upon substantial completion construction of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and tenant improvements. Landlord shall provide give Tenant with at least thirty (30) days’ advance notice of Landlord’s substantial completion of the improvements within estimated move in date. Prior to the Substitute Premises so date that Tenant is moved to the new space, Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained remain in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel and shall continue to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and Lease. After Tenant moves into the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentencenew space, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon shall remain in full force and effect and be deemed applicable to such rentable area (includingnew space, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoingexcept as to Base Rent, Tenant’s Base Rent Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases and the number of parking spaces Tenant shall not increase as a result be entitled to use, all of such relocationwhich shall be adjusted based on the relationship between the number of rentable square feet in the original Premises and the number of rentable square feet in the substituted space. Simultaneously with such relocation of the PremisesUpon Tenant’s election to be relocated, the parties Landlord and Tenant shall immediately execute an amendment to amend this Lease stating to provide for the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
Appears in 1 contract
Samples: Wilshire Enterprises Inc
SUBSTITUTION OF OTHER PREMISES. Landlord may electshall have the right (not more than one (1) time during the initial Lease Term) to move Tenant to other second (2nd), by written notice to Tenant, to substitute for third (3rd) or fourth (4th)-floor space on the Premises other office space in East side of the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be comparable to the Premises Premises, with no less than ten (e.g. comparable size10) of the fourteen (14) offices in such space located on the perimeter glass line (Landlord nevertheless using commercially reasonable, comparable finishes, comparable good faith efforts to maximize the number of such offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of to the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”perimeter glass line), and Landlord all terms hereof shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything apply to the contrary set forth in this Article 22, to new space with equal force; provided that if the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other substitute premises contains less square footage than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, then all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area square footage (including, without limitation, the amounts amount of the Rent and Tenant’s ShareRent) shall be modified accordingly; providedin accordance with such reduced square footage. In such event, howeverLandlord shall give Tenant prior notice, that notwithstanding shall provide Tenant, at Landlord's sole cost and expense, with improvements at least equal in quality to those in the foregoingPremises and shall move Tenant's effects to the new space at Landlord's sole cost and expense at such time and in such manner as to inconvenience Tenant as little as reasonably practicable. In addition, Landlord shall reimburse Tenant for the reasonable costs and expenses incurred by Tenant in connection with such relocation which are reasonably approved in advance by Landlord up to an amount equal to Fifteen Thousand and 00/100 Dollars ($15,000.00) in the aggregate (including, but not limited to, for the costs of reasonable moving expenses, supplies of replacement stationery and cable/IT-related installations), within thirty (30) days of Landlord's receipt of invoices marked paid, or other evidence of the amounts incurred and actually paid by Tenant’s Base Rent shall not increase , as a result of such relocationreasonably requested by Landlord. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right to Tenant, move Tenant to substitute for the Premises other office space in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate all terms hereof shall apply to the area new space with equal force. In such event, Landlord shall give Tenant at least ninety (90) days prior written notice of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof election to so relocate Tenant (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation PlansNotice”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything move Tenant’s effects to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, new space at Landlord’s expense, (i) furnish sole cost and install expense at such time and in the Substitute Premises fixtures, equipment, such manner as to inconvenience Tenant as little as reasonably practicable. The new space shall be delivered to Tenant with improvements and appurtenances at least equal in quality substantially similar to those contained improvements existing in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel ’s notification to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises. Notwithstanding the foregoing, in the event Landlord provides Tenant with a Relocation Notice, Tenant shall have the option, upon sixty (60) days prior written notice (“Termination Notice”) to Landlord (which Termination Notice must be given, if at all, within thirty (30) days after Tenant’s receipt of a Relocation Notice from Landlord), to terminate this Lease; provided, however, that if Tenant delivers a Termination Notice, Landlord shall have the right to rescind the Relocation Notice by written notice to Tenant within ten (10) days after Landlord’s receipt of a Termination Notice, in which case the Termination Notice shall be null and void, the Premises shall not be relocated, and amending those Sections of the Summary, this Lease shall remain in full force and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises)effect.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right at any time to Tenant, move Tenant to substitute for the Premises any other office leasable space in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises said space shall be comparable to approximately the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information same size as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and that Landlord shall occupy pay the Substitute Premises upon substantial completion cost of the work to be performed by Landlord in the Substitute Premises pursuant moving Tenant's furniture and equipment to the Relocation Plans and this Article 22 (and Landlord new space. The new space shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of include tenant improvements that are substantially equivalent to the tenant improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts any required tenant improvements shall be paid by Landlord. If Landlord elects to relocate Tenant, Landlord shall give Tenant written notice of replacement stationeryits election. Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after Tenant approves plans for the construction of required tenant improvements, if any, at the new space. Tenant agrees to cooperate with shall not unreasonably withhold or delay its approval of any plans for the construction of tenant improvements. Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by shall give Tenant thirty (30) days advance notice of the Premisesestimated move-in date. Without limiting After Tenant moves into the generality of the preceding sentencenew space, this Lease shall remain in full force and effect and be deemed applicable to such new space. Upon Tenant's relocation, Landlord and Tenant agrees (A) shall amend this Lease to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises. Landlord's right to relocate Tenant hereunder shall be limited to relocation of Tenant to comparable space which, and amending those Sections for purposes of the Summary, and replacing Exhibit A to this Lease, as shall be necessary defined to accurately describe mean space of substantially similar size as the Substitute Premises (with substantially similar LaSalle Street exposure as the Premises, or such other space as Landlord and Tenant may mutually agree is comparable space. Landlord shall pay all reasonable expenses related to the cost of relocating Tenant, including, without limitationbut not limited to the cost of moving furniture and equipment to the new space, new business stationery and installation of telephone and computer equipment. Such move shall be made during evenings, weekends, or such other time as is agreeable to Tenant so as to incur the location and the rentable area of the Substitute Premises)least inconvenience to Tenant.
Appears in 1 contract
Samples: Office Lease (Privatebancorp Inc)
SUBSTITUTION OF OTHER PREMISES. Landlord may electshall have the right to relocate Tenant to other space (the "Relocation Space") located on the seventh (7th) floor or higher and with at least twenty-five percent (25%) of the Relocation Space facing the southeast direction, by written notice to Tenant, to substitute for the Premises other office space in the Building (herein called in the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be Project comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan all terms hereof shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not apply to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth Space with equal force and effect, except as otherwise provided in this Article 22, to . To the extent Tenant request any upgrades in the improvements located in such Substitute Premises Relocation Space vis-àa-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and In such event, Landlord shall provide give Tenant with at least thirty (30) days’ ' prior notice of Landlord’s substantial completion of 's election to so relocate Tenant, and shall move Tenant's effects to the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, Relocation Space at Landlord’s expense, (i) furnish 's sole cost and install expense at such time and in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality such manner as to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) inconvenience Tenant as little as reasonably practicable. Landlord shall reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute PremisesRelocation Space, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises)lines, the cost to move Tenant’s 's furniture from the Premises to the Substitute PremisesRelocation Space, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease (or, if the Relocation Space is in a building of the Project other than the Building, Tenant shall execute a new lease with the owner of such building, which shall be on substantially the same terms and conditions as this Lease, and Tenant and Landlord shall enter into a termination of this Lease) stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises Relocation Space (including, without limitation, the location and the rentable area of the Substitute Relocation Space). In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Relocation Space is not equal to the rentable area of the Premises), or if the Relocation Space is in a building of the Project other than the Building and the rentable area of such other building is not equal to the rentable area of the Building, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the "Rent" and the "Security Deposit," as those terms are defined in Article 4 and Article 21 of this Lease, respectively, and "Tenant's Share," as that term is defined in Section 4.2.1 0 of this Lease) shall be modified accordingly; provided, however, that notwithstanding the foregoing, (i) in no event shall the rentable area of the Relocation Space be less than one hundred percent (100%) of the rentable area of the Premises; and (ii) Tenant's Base Rent and Tenant's Share shall not increase as a result of such relocation. Tenant shall have the right to refuse to permit Landlord to move Tenant to the Relocation Space and such refusal shall not be a default under this Lease. Should Tenant refuse to permit Landlord to move Tenant to the Relocation Space, Landlord shall have the right to cancel and terminate this Lease effective sixty (60) days from the date of Landlord's election to relocate Tenant.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right to Tenant, relocate Tenant to substitute for the Premises other office space in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be Project comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan all terms hereof shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything apply to the contrary set forth new space with equal force and effect, except as otherwise provided in this Article 22. In such event, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide give Tenant with at least thirty (30) days’ prior notice of Landlord’s substantial completion of election to so relocate Tenant, and shall move Tenant’s effects to the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, new space at Landlord’s expense, sole cost and expense (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice including costs of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving re-cabling of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements network located in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, ) at such time and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so in such manner as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by inconvenience Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information as little as reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocationpracticable. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises new space (including, without limitation, the location and the rentable area of the Substitute new space). In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the new space is not equal to the rentable area of the Premises), of any such adjustment to the rentable area of the Premises and/or the Building, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the “Rent” and the “Security Deposit,” as those terms are defined in Article 4 and Article 21 of this Lease, respectively, and “Tenant’s Share,” as that term is defined in Section 4.2.9 of this Lease) shall be modified accordingly; provided, however, that notwithstanding the foregoing, (i) in no event shall Tenant be relocated to space consisting of less than ninety percent (90%) of the rentable area of the Premises; and (ii) Tenant’s Base Rent shall not increase as a result of such relocation. Should Tenant refuse to permit Landlord to move Tenant to the new space, Landlord shall have the right to cancel and terminate this Lease effective sixty (60) days from the date of Landlord’s election to relocate Tenant.
Appears in 1 contract
Samples: Office Lease (Novacea Inc)
SUBSTITUTION OF OTHER PREMISES. At any time during the Lease Term, Landlord may electshall have the right, by upon not less than sixty (60) days prior written notice (the “Relocation Notice”) to Tenant, to substitute for the Premises other office space in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shallrelocate Tenant, at Landlord’s expense, to other space located on or above the seventh (7th) floor the Building on the same side of the Building as the Premises (the “Substitution Space”). In the event of any such relocation, Landlord shall: (i) furnish prepare and install in decorate the Substitute Premises Substitution Space so that the Substitution Space will be of substantially comparable size, layout, design, materials, finishes and condition as the Premises; (ii) move Tenant’s furniture, furnishings, fixtures, equipment, improvements files, and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises other personal property to the Substitute Premises, Substitution Space; and (iii) reimburse Tenant for all actual and the reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines of replacing a reasonable quantity of Tenant’s business stationery containing Tenant’s address (to the extent not installed by Landlord as part which reimbursement shall be paid within thirty (30) days of its installation Landlord’s receipt of copies of paid invoices evidencing such costs). Upon receipt of the improvements in the Substitute Premises), the cost to move TenantRelocation Notice and Landlord’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate compliance with Landlord so as to facilitate the prompt completion by Landlord of its obligations under subsections (i) and (ii) above, Tenant shall (1) vacate the Premises on the date specified in the Relocation Notice and commence leasing the Substitution Space, and (2) enter into an amendment of this Lease with Landlord to provide for (i) the deletion of all references in this Lease to the Premises and the insertion of the Substitution Space in place thereof, and (ii) a proportionate adjustment of the Base Rent (on a per square foot basis) and Tenant’s Share to reflect the rentable square footage of the Substitution Space. In all other respects, the terms and conditions contained in this Lease (including escalations and base years) shall remain unmodified and continue in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant fails or declines to vacate the Premises in accordance with the provisions of this Article on or before the date set forth in the Relocation Notice, or otherwise fails or declines to relocate to the Substitution Space as provided herein, then such failure shall constitute a default under this Lease, and in addition to all other rights and remedies available to Landlord for such default (including without limitation the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentenceremedies set forth in Article 19 hereof), Tenant agrees (A) the provisions of Article 16 above shall apply to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation PlansPremises, and (B) Landlord shall have the right (but not the obligation) to perform promptly in immediately commence unlawful detainer proceedings as if the Substitute Lease Term with respect to the Premises any work had naturally expired. In an effort to be performed therein by Tenant to prepare the same for minimize interruption of Tenant’s occupancy. In the event business operations, Landlord and Tenant is relocated in accordance with this Article 22, shall cooperate to schedule and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of execute such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right at any time to Tenant, relocate Tenant to substitute for the Premises any other office leasable space in the Building (herein called the “Substitute Premises”) designated by Landlord, Project provided that such Substitute Premises said space shall be comparable to approximately the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information same size as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and that Landlord shall occupy pay the Substitute Premises upon substantial completion cost of the work to be performed by Landlord in the Substitute Premises pursuant moving Tenant's furniture and equipment to the Relocation Plans and this Article 22 (and Landlord new space. The new space shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of include tenant improvements that are substantially equivalent to the tenant improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts any required tenant improvements shall be paid by Landlord. If Landlord elects to relocate Tenant, Landlord shall give Tenant written notice of replacement stationeryits election and Tenant shall have thirty (30) days thereafter to agree to be relocated in accordance with the terms and conditions of this section 30 or to elect to terminate this Lease. If Tenant elects to terminate this Lease within said thirty (30) day period or fails to respond to Landlord's notice within said thirty (30) day period, this Lease shall then terminate on the date which is sixty (60) days after the date Landlord gave Tenant its written notice electing to relocate Tenant. Landlord shall have no liability to Tenant as a result of Tenant's election to terminate this Lease. Prior to said termination, Landlord and Tenant shall perform all of their obligations under this Lease. If Tenant elects to be relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) Tenant agrees to cooperate with be relocated and (b) approves plans for the construction of required tenant improvements at the new space, if any. Tenant shall not unreasonably withhold or delay its approval of any plans for the construction of tenant improvements. Landlord so as shall give Tenant thirty (30) days advance notice of the estimated move in date. Prior to facilitate the prompt completion by Landlord date that Tenant is moved to the new space, Tenant shall remain in the Premises and shall continue to perform all of its obligations under this Article Lease. After Tenant moves into the new space, this Lease shall remain in full force and effect and be deemed applicable to such new space, except as to Base Rent, Tenant's Share of Operating Expense increases and the prompt surrender by number of parking spaces Tenant shall be entitled to use, all of which shall be adjusted based on the Premisesrelationship between the number of rentable square feet in the original Premises and the number of rentable square feet in the substituted space. Without limiting the generality of the preceding sentenceUpon Tenant's election to be relocated, Landlord and Tenant agrees (A) shall amend this Lease to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
Appears in 1 contract
Samples: Noosh Inc
SUBSTITUTION OF OTHER PREMISES. Landlord may electshall have the right, by written notice to Tenantbut not more than once during the Term of this Lease, to substitute for the Premises move Tenant to any other office comparable, leasable space in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises said space shall be comparable to approximately the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information same size as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and that Landlord shall occupy pay the Substitute Premises upon substantial completion cost of the work to be performed by Landlord in the Substitute Premises pursuant moving Tenant's furniture and equipment to the Relocation Plans new space as well as the reasonable cost of rewiring Tenant’s computers, Tenant’s cost of replacing existing stationery on hand and this Article 22 (other similar, customary and Landlord reasonable moving costs. The new space shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of include tenant improvements that are substantially equivalent to the tenant improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts any required tenant improvements shall be paid by Landlord. If Landlord elects to relocate Tenant, Landlord shall give Tenant written notice of replacement stationeryits election and Tenant shall have thirty (30) days thereafter to agree to be relocated in accordance with the terms and conditions of this Section 29 or to elect to terminate this Lease. If Tenant elects to terminate this Lease within said thirty (30) day period or fails to respond to Landlord's notice within said thirty (30) day period, this Lease shall then terminate on the date which is sixty (60) days after the date Landlord gave Tenant its written notice electing to relocate Tenant. Landlord shall have no liability to Tenant as a result of Tenant's election to terminate this Lease. Prior to said termination, Landlord and Tenant shall perform all of their obligations under this Lease. If Tenant elects to be relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) Tenant agrees to cooperate with be relocated and (b) approves plans for the construction of required tenant improvements at the new space, if any. Tenant shall not unreasonably withhold or delay its approval of any plans for the construction of tenant improvements. Landlord so shall give Tenant thirty (30) days' advance notice of the estimated move in date. Landlord agrees to coordinate such move outside of regular business hours as defined in Section 11.4. Prior to facilitate the prompt completion by Landlord date that Tenant is moved to the new space, Tenant shall remain in the Premises and shall continue to perform all of its obligations under this Article and Lease. After Tenant moves into the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentencenew space, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon shall remain in full force and effect and be deemed applicable to such rentable area (includingnew space, without limitationexcept as to Base Rent, the amounts Tenant's Share of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoingOperating Expense increases, Tenant’s Base Rent Share of Real Property Tax increases and the number of parking spaces Tenant shall not increase as a result be entitled to use, all of such relocationwhich shall be adjusted based on the relationship between the number of rentable square feet in the original Premises and the number of rentable square feet in the substituted space. Simultaneously with such relocation of the PremisesUpon Tenant's election to be relocated, the parties Landlord and Tenant shall immediately execute an amendment to amend this Lease stating to provide for the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
Appears in 1 contract
Samples: Lease (Rexahn Pharmaceuticals, Inc.)
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right to Tenant, relocate Tenant to substitute for the Premises other office space in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be Project comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan all terms hereof shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything apply to the contrary set forth new space with equal force and effect, except as otherwise provided in this Article 22. In such event, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide give Tenant with at least thirty (30) days’ prior notice of Landlord’s substantial completion of 's election to so relocate Tenant, and shall move Tenant's effects to the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, new space at Landlord’s expense, (i) furnish 's sole cost and install expense at such time and in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so manner as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by inconvenience Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information as little as reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocationpracticable. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises new space (including, without limitation, the location and the rentable area of the Substitute new space). In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the new space is not equal to the rentable area of the Premises), of any such adjustment to the rentable of the Premises and/or the Building, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the "Rent" and the "Security Deposit," as those terms are defined in Article 4 and Article 21 of this Lease, respectively, and "Tenant's Share," as that term is defined in Section 4.2.9 of this Lease) shall be modified accordingly. Should Tenant refuse to permit Landlord to move Tenant to the new space, Landlord shall have the right to cancel and terminate this Lease effective sixty (60) days from the date of Landlord's election to relocate Tenant.
Appears in 1 contract
Samples: Office Lease (Surge Components Inc)
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right at any time to Tenant, move Tenant to substitute for the Premises any other office leasable space in the Building (herein called the “Substitute Premises”) designated by Landlord, Project provided that such Substitute Premises said space shall be comparable to approximately the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information same size as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and that Landlord shall occupy pay the Substitute Premises upon substantial completion cost of the work to be performed by Landlord in the Substitute Premises pursuant moving Tenant's furniture and equipment to the Relocation Plans and this Article 22 (and Landlord new space. The new space shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of include tenant improvements that are substantially equivalent to the tenant improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts any required tenant improvements shall be paid by Landlord. If Landlord elects to relocate Tenant, Landlord shall give Tenant written notice of replacement stationeryits election and Tenant shall have thirty (30) days thereafter to agree to be relocated in accordance with the terms and conditions of this Section 30 or to elect to terminate this Lease. If Tenant elects to terminate this Lease within said thirty (30) day period or fails to respond to Landlord's notice within said thirty (30) day period, this Lease shall then terminate on the date which is sixty (60) days after the date Landlord gave Tenant its written notice electing to relocate Tenant. Landlord shall have no liability to Tenant as a result of Tenant's election to terminate this Lease. Prior to said termination, Landlord and Tenant shall perform all of their obligations under this Lease. If Tenant elects to be relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) Tenant agrees to cooperate with be relocated and (b) approves plans for the construction of required tenant improvements at the new space, if any. Tenant shall not unreasonably withhold or delay its approval of any plans for the construction of tenant improvements. Landlord so as shall give Tenant thirty (30) days advance notice of the estimated move in date. Prior to facilitate the prompt completion by Landlord date that Tenant is moved to the new space, Tenant shall remain in the Premises and shall continue to perform all of its obligations under this Article Lease. After Tenant moves into the new space, this Lease shall remain in full force and effect and be deemed applicable to such new space, except as to Base Rent, Tenant's Share of Operating Expense increases and the prompt surrender by number of parking spaces Tenant shall be entitled to use, all of which shall be adjusted based on the Premisesrelationship between the number of rentable square feet in the original Premises and the number of rentable square feet in the substituted space. Without limiting the generality of the preceding sentenceUpon Tenant's election to be relocated, Landlord and Tenant agrees (A) shall amend this Lease to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
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SUBSTITUTION OF OTHER PREMISES. If Landlord may electrequires the Premises for use by another tenant or for other reasons connected with the Building planning program, by then Landlord shall have the right, upon sixty (60) days' prior written notice to Tenant, to substitute for relocate the Premises to other office space in the Building (herein called of substantially similar size as the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate with tenant improvements of substantially similar age, quality and layout as then existing in the area of Premises. In the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt event of any such notice from Landlordrelocation, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications shall pay for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension cost of the space plan of the Substitute Premises providing such substantially similar tenant improvements (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”but not any furniture or personal property), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22reimburse Tenant, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least within thirty (30) days’ notice days after Landlord's receipt of Landlord’s substantial completion of invoices and paid receipts, for the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Furthermoving, Landlord shall, at Landlord’s expense, (i) furnish telephone installation and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant stationery reprinting costs actually paid for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from such relocation. If Landlord so relocates Tenant, the Premises terms and conditions of this Lease shall remain in full force and effect and apply to the Substitute Premisesnew space, includingexcept that (a) a revised Exhibit A shall become part of this Lease and shall reflect --------- the location of the new space, without limitation, (b) the cost Summary of Basic Lease Information of this Lease shall be amended to install new communications include and computer lines (state all correct data as to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plansnew space, and (Bc) to perform promptly in the Substitute Premises any work such new space shall thereafter be deemed to be performed therein by Tenant to prepare the same for Tenant’s occupancy"Premises". In Notwithstanding the event Tenant is relocated in accordance with foregoing provisions of this Article 22, and the rentable area of the Substitute Premises is not equal 22 to the contrary, if ---------- the new space contains more rentable area of square feet than the original Premises, all amounts, percentages and figures appearing or referred Tenant shall not be obligated to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s pay any more Base Rent shall not increase as a result or Direct Expenses than otherwise applicable to the original Premises. Landlord and Tenant agree to cooperate fully in order to minimize the inconvenience of Tenant resulting from such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
Appears in 1 contract
Samples: Office Lease (Mego Financial Corp)
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right to Tenant, move Tenant to substitute for other space (the Premises other office space “Relocation Space”) in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be Project comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, located on the eighth floor or higher, and indicate all terms hereof shall apply to the area Relocation Space with equal force. In such event, Landlord shall give Tenant not less than ninety (90) days prior notice of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not election to be unreasonably withheldso relocate Tenant, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architectsand shall provide Tenant, at Landlord’s cost, to prepare plans sole cost and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, with tenant improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under and shall move Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premiseseffects, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, including the cost to install new communications and computer lines (lines, to the extent not installed by Landlord as part of its installation of the improvements Relocation Space at Landlord’s sole cost and expense at such time and in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so such manner as to facilitate inconvenience Tenant as little as reasonably practicable. In addition, Landlord shall reimburse Tenant for the prompt completion by Landlord of its obligations under this Article reasonable costs and the prompt surrender expenses incurred by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area relocation (including, without limitationbut not limited to, the amounts costs of the Rent reasonable supplies of replacement stationery and Tenanttelephone installations), within thirty (30) days of Landlord’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result receipt of such relocationan invoice therefor. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises. Notwithstanding the foregoing, and amending those Sections (i) the size of the Summary, and replacing Exhibit A to this Lease, as Relocation Space shall be necessary reasonably comparable to accurately describe the Substitute size of the initial Premises (including, without limitation, and Landlord shall endeavor to provide substantially similar views from the location and Relocation Space as are available from the rentable area of the Substitute Premises); and (ii) if the Relocation Space is larger than the initial Premises, Tenant’s Base Rent shall not increase as a result of such relocation (subject to any scheduled escalations thereof) and Tenant’s Share shall not increase as a result of such relocation.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right at any time to Tenant, move Tenant to substitute for the Premises any other office leasable space in the Building (herein called the “Substitute Premises”) designated by Landlord, Project provided that such Substitute Premises said space shall be comparable substantially similar in nature, orientation, size, condition and finishes as the Premises. approximately the same size as the Premises and that Landlord shall pay the cost of moving Tenant’s furniture and equipment to the Premises (e.g. comparable sizenew space as well as the reasonable cost of rewiring Tenant’s computers, comparable finishesTenant’s cost of replacing existing stationery on hand and other similar, comparable number of offices customary and conference rooms, comparable ceiling treatment, doors and hardware)reasonable moving costs. Such notice The new space shall be accompanied by a space plan of include tenant improvements that are substantially equivalent to the Substitute tenant improvements contained in the Premises, and indicate the area cost of the Substitute Premises, which space plan any required tenant improvements shall be approved paid by Landlord. If Landlord elects to relocate Tenant, Landlord shall give Tenant within three written notice of its election and Tenant shall have thirty (330) business days following Landlord’s delivery thereof (such approval not thereafter to agree to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises relocated in accordance with the Relocation Plansterms and conditions of this Section 29 or to elect to terminate this Lease. Notwithstanding anything If Tenant elects to terminate this Lease within said thirty (30) day period or fails to respond to Landlord’s notice within said thirty (30) day period, this Lease shall then terminate on the contrary set forth in date which is sixty (60) days after the date Landlord gave Tenant its written notice electing to relocate Tenant. Landlord shall have no liability to Tenant as a result of Tenant’s election to terminate this Article 22Lease. Prior to said termination, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Landlord and Tenant shall pay perform all of their obligations under this Lease. If Tenant elects to Landlordbe relocated, promptly upon billing thereforLandlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) Tenant agrees to be relocated and (b) approves plans for the construction of required tenant improvements at the new space, all costs and expenses incurred by Landlord in connection with such upgraded improvementsif any. Tenant shall vacate and surrender not unreasonably withhold or delay its approval of any plans for the Premises and shall occupy the Substitute Premises upon substantial completion construction of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and tenant improvements. Landlord shall provide give Tenant with at least thirty (30) days’ advance notice of Landlord’s substantial completion of the improvements within estimated move in date. Prior to the Substitute Premises so date that Tenant is moved to the new space, Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained remain in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel and shall continue to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and Lease. After Tenant moves into the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentencenew space, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon shall remain in full force and effect and be deemed applicable to such rentable area (includingnew space, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoingexcept as to Base Rent, Tenant’s Base Rent Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases and the number of parking spaces Tenant shall not increase as a result be entitled to use, all of such relocationwhich shall be adjusted based on the relationship between the number of rentable square feet in the original Premises and the number of rentable square feet in the substituted space. Simultaneously with such relocation of the PremisesUpon Tenant’s election to be relocated, the parties Landlord and Tenant shall immediately execute an amendment to amend this Lease stating to provide for the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right at any time to Tenant, move Tenant to substitute for the Premises any other office leasable space in the Building (herein called the “Substitute Premises”) designated by Landlord, Project provided that such Substitute Premises said space shall be comparable to approximately the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information same size as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and that Landlord shall occupy pay the Substitute Premises upon substantial completion entire cost of the work to be performed by Landlord in the Substitute Premises pursuant moving Tenant's furniture and phone system [and] equipment to the Relocation Plans new space and this Article 22 (and Landlord provide reasonable stationary allowance. The new space shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of include tenant improvements that are substantially equivalent to the tenant improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts any required tenant improvements shall be paid by Landlord. If Landlord elects to relocate Tenant, Landlord shall give Tenant written notice of replacement stationeryits election and Tenant shall have thirty (30) days thereafter to agree to be relocated in accordance with the terms and conditions of this section 30 or to elect to terminate this Lease. If Tenant elects to terminate this Lease within said thirty (30) day period or fails to respond to Landlord's notice within said thirty (30) day period, this Lease shall then terminate on the date which is sixty (60) days after the date Landlord gave Tenant its written notice electing to relocate Tenant. Landlord shall have no liability to Tenant as a result of Tenant's election to terminate this Lease. Prior to said termination, Landlord and Tenant shall perform all of their obligations under this Lease. If Tenant elects to be relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) Tenant agrees to cooperate with be relocated and (b) approves plans for the construction of required tenant improvements at the new space, if any. Tenant shall not unreasonably withhold or delay its approval of any plans for the construction of tenant improvements. Landlord so as shall give Tenant thirty (30) days advance notice of the estimated move in date. Prior to facilitate the prompt completion by Landlord date that Tenant is moved to the new space, Tenant shall remain in the Premises and shall continue to perform all of its obligations under this Article Lease. After Tenant moves into the new space, this Lease shall remain in full force and effect and be deemed applicable to such new space, except as to Base Rent, Tenant's Share of Operating Expense increases and the prompt surrender by number of parking spaces Tenant shall be entitled to use, all of which shall be adjusted based on the Premisesrelationship between the number of rentable square feet in the original Premises and the number of rentable square feet in the substituted space. Without limiting the generality of the preceding sentenceUpon Tenant's election to be relocated, Landlord and Tenant agrees (A) shall amend this Lease to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
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SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right to Tenant, relocate Tenant to substitute for other space (the Premises other office space "Relocation Space") in the Building (herein called the “Substitute Premises”) designated by Landlord, provided that such Substitute Premises shall be Project comparable to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premises, and indicate the area of the Substitute Premises, which space plan all terms hereof shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not apply to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth Space with equal force and effect, except as otherwise provided in this Article 22, to . To the extent Tenant request any upgrades in the improvements located in such Substitute Premises Relocation Space vis-àa-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. In such event, Landlord shall give Tenant shall vacate and surrender the Premises prior notice of Landlord's election to so relocate Tenant, and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant move Tenant's effects to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, Space at Landlord’s expense, (i) furnish 's sole cost and install expense at such time and in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so manner as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by inconvenience Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information as little as reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocationpracticable. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease (or, if the Relocation Space is in a building of the Project other than the Building, Tenant shall execute a new lease with the owner of such building, which shall be on substantially the same terms and conditions as this Lease, and Tenant and Landlord shall enter into a termination of this Lease) stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises Relocation Space (including, without limitation, the location and the rentable area of the Substitute Relocation Space). In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Relocation Space is not equal to the rentable area of the Premises), or if the Relocation Space is in a building of the Project other than the Building and the rentable area of such other building is not equal to the rentable area of the Building, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the "Rent" and the "Security Deposit," as those terms are defined in Article 4 and Article 21 of this Lease, respectively, and "Tenant's Share," as that term is defined in Section 4.2.10 of this Lease) shall be modified accordingly. Should Tenant refuse to permit Landlord to move Tenant to the Relocation Space, Landlord shall have the right to cancel and terminate this Lease effective sixty (60) days from the date of Landlord's election to relocate Tenant.
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SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have the right at any time during the First Extension Term or during the Second Extension Term (but not during the initial 5 year term) to Tenant, move Tenant to substitute for the Premises any other office leasable space in the Building (herein called the “Substitute Premises”) designated by Landlord, Project provided that such Substitute Premises said space shall be comparable approximately the same size as the Premises and that Landlord shall pay the cost of moving Tenant’s furniture and equipment to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware)new space. Such notice The new space shall be accompanied by a space plan of include tenant improvements that are substantially equivalent to the Substitute tenant improvements contained in the Premises, and indicate the area cost of the Substitute Premises, which space plan any required tenant improvements shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined paid by Landlord) and otherwise in accordance with Building standards . If Landlord elects to relocate Tenant, Landlord shall give Tenant written notice of its election (collectively, the “Relocation PlansLandlord Notice”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender have the Premises and shall occupy the Substitute Premises upon substantial completion right to notify Landlord that Tenant elects to terminate this Lease within ten (10) days of receipt of the work Landlord Notice. In the event that Tenant timely notifies Landlord that Tenant elects to be performed by terminate this Lease, Landlord in shall have the Substitute Premises pursuant right to notify Tenant within ten (10) days of receipt of Tenant’s election to terminate this Lease that Landlord withdraws its right to relocate the Relocation Plans Tenant, and this Article 22 (lease shall remain in full force and effect. If Landlord elects to relocate Tenant and Tenant does not terminate this Lease, Landlord shall provide deliver substitute space to Tenant with not more than one hundred eighty (180) days after Tenant approves plans for the construction of required tenant improvements at least the new space, if any. Tenant shall not unreasonably withhold or delay its approval of any plans for the construction of tenant improvements for the new space. Landlord shall give Tenant thirty (30) days’ advance notice of Landlord’s substantial completion of the improvements within estimated move in date. Prior to the Substitute Premises so date that Tenant is moved to the new space, Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained remain in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel and shall continue to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article Lease. After Tenant moves into the new space, this Lease shall remain in full force and effect and be deemed applicable to such new space, except as to Rent and the prompt surrender by number of parking spaces Tenant shall be entitled to use, all of which shall be adjusted based on the Premisesrelationship between the number of rentable square feet in the original Premises and the number of rentable square feet in the substituted space. Without limiting the generality of the preceding sentenceUpon Tenant’s election to be relocated, Landlord and Tenant agrees (A) shall amend this Lease to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises).
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Samples: Office Lease (Ladenburg Thalmann Financial Services Inc)
SUBSTITUTION OF OTHER PREMISES. At any time hereafter, Landlord may electrelocate any portion of Tenant’s Premises not within Tower IV, by written notice subject to Tenantthe terms set forth below, on the following conditions: (i) if the portion of the Premises which Landlord wants to relocate comprises a full floor of a Tower, the Premises on such full floor can only be relocated in connection with a lease to another tenant of not less than 40,000 rentable square feet; and (ii) if the portion of the Premises which Landlord wants to relocate comprises less than a full floor of a Tower, the Premises on such floor can be relocated in connection with a lease to another tenant of not less than one full floor of a Tower of the Office Section. Any such re-locatable portion of the Premises is referred to herein as “Committed Non-Tower IV Premises”. Landlord may (upon not less than one hundred eighty (180) days’ prior notice) substitute for the Premises other office Committed Non-Tower IV Premises, different space in the Building (herein called referred to as the “Substitute New Premises”) designated by Landlordin the Office Section, provided that such Substitute the New Premises shall be comparable usable for Tenant’s purpose; shall be contiguous to the Premises (e.g. comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice remaining Premises; shall be accompanied by situated on the same floor as, or a space plan higher floor than, the Committed Non Tower IV Premises; shall have a window line not less that the window line of the Substitute Premises, and indicate the area of the Substitute Premises, Committed Non-Tower IV Premises from which space plan shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), being relocated; and Landlord shall thereafter build out pay the Substitute expenses of Tenant’s moving from the Committed Non-Tower IV Premises in accordance with the Relocation Plans. Notwithstanding anything to the contrary set forth in this Article 22, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the New Premises and shall occupy for fully demising and improving the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide Tenant with at least thirty (30) days’ notice of Landlord’s substantial completion of the improvements within the Substitute New Premises so that Tenant shall have a reasonable opportunity they are substantially similar to schedule the move of its personal property from the Committed Non-Tower IV Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, at Landlord’s expense, (i) furnish and install in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality of improvement and utility to those contained Tenant. The New Premises shall contain not less rentable square footage as the Committed Non-Tower IV Premises and in no event will the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Base Rent or Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred Proportionate Expense Share or Proportionate Tax Share be increased by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation reason of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocation. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises (including, without limitation, the location and the rentable area of the Substitute Premises)substitution.
Appears in 1 contract
Samples: Lease (Wayfair Inc.)
SUBSTITUTION OF OTHER PREMISES. Landlord may elect, by written notice shall have no right to Tenant, relocate Tenant to substitute for the Premises other office space in the Building (herein called Project during the “Substitute Premises”) designated by initial Lease Term. In the event the Lease Term is extended pursuant to an agreement between Landlord and Tenant, Landlord shall, following the expiration of the initial Lease Term, at Landlord’s sole cost and expense, provided that such Substitute Premises shall be have the right to relocate Tenant to other space in the Project comparable to the Premises (e.g. with comparable size, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware). Such notice shall be accompanied by a space plan of the Substitute Premisestenant improvements, and indicate the area of the Substitute Premises, which space plan all terns hereof shall be approved by Tenant within three (3) business days following Landlord’s delivery thereof (such approval not to be unreasonably withheld, conditioned or delayed). Upon receipt of any such notice from Landlord, Tenant will reasonably cooperate with Landlord to supply such information as may be necessary to allow Landlord’s architects, at Landlord’s cost, to prepare plans and specifications for the Substitute Premises in a form which is complete to allow subcontractors to bid on the work, and which are a logical extension of the space plan of the Substitute Premises (as reasonably determined by Landlord) and otherwise in accordance with Building standards (collectively, the “Relocation Plans”), and Landlord shall thereafter build out the Substitute Premises in accordance with the Relocation Plans. Notwithstanding anything apply to the contrary set forth new space with equal force and effect, except as otherwise provided in this Article 22. In such event, to the extent Tenant request any upgrades in the improvements located in such Substitute Premises vis-à-vis the improvements then existing in the Premises (e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall pay to Landlord, promptly upon billing therefor, all costs and expenses incurred by Landlord in connection with such upgraded improvements. Tenant shall vacate and surrender the Premises and shall occupy the Substitute Premises upon substantial completion of the work to be performed by Landlord in the Substitute Premises pursuant to the Relocation Plans and this Article 22 (and Landlord shall provide give Tenant with at least not less than thirty (30) days’ days prior written notice of Landlord’s substantial completion of election to so relocate Tenant, and shall move Tenant’s effects to the improvements within the Substitute Premises so that Tenant shall have a reasonable opportunity to schedule the move of its personal property from the Premises into the Substitute Premises over a weekend (other than a holiday weekend)). Further, Landlord shall, new space at Landlord’s expense, (i) furnish sole cost and install expense at such time and in the Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the Premises at the time such notice of substitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s direction the moving of Tenant’s Property from the Premises to the Substitute Premises, and (iii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of its installation of the improvements in the Substitute Premises), the cost to move Tenant’s furniture from the Premises to the Substitute Premises, and the cost of reasonable amounts of replacement stationery. Tenant agrees to cooperate with Landlord so manner as to facilitate the prompt completion by Landlord of its obligations under this Article and the prompt surrender by inconvenience Tenant of the Premises. Without limiting the generality of the preceding sentence, Tenant agrees (A) to provide to Landlord promptly any approvals or instructions and any other information as little as reasonably requested by Landlord in connection with the preparation of the Relocation Plans, and (B) to perform promptly in the Substitute Premises any work to be performed therein by Tenant to prepare the same for Tenant’s occupancy. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the Substitute Premises is not equal to the rentable area of the Premises, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the Rent and Tenant’s Share) shall be modified accordingly; provided, however, that notwithstanding the foregoing, Tenant’s Base Rent shall not increase as a result of such relocationpracticable. Simultaneously with such relocation of the Premises, the parties shall immediately execute an amendment to this Lease (or, if the Relocation Space is in a building of the Project other than the Building, Tenant shall execute a new lease with the owner of such building, which shall be on substantially the same terns and conditions as this Lease, and Tenant and Landlord shall enter into a termination of this Lease) stating the relocation of the Premises, and amending those Sections of the Summary, and replacing Exhibit A to this Lease, as shall be necessary to accurately describe the Substitute Premises new space (including, without limitation, the location and the rentable area of the Substitute new space). Landlord shall pay all costs of relocating Tenant, including, but not limited to, costs of cabling, breakdown and reinstallation of furniture and equipment, and the cost of reasonable quantities of replacement stationery. In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the new space is not equal to the rentable area of the Premises), or any such adjustment to the rentable area of the Premises and/or the Building, or if the new space is in a building of the Project other than the Building and the rentable area of such other building is not equal to the rentable area of the Building, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amounts of the “Rent” and the “Security Deposit,” as those terms are defined in Article 4 and Article 21 of this Lease, respectively, and “Tenant’s Share,” as that term is defined in Section 4.2.9 of this Lease) shall be modified accordingly. Should Tenant refuse to permit Landlord to move Tenant to the new space, Landlord shall have the right to cancel and terminate this Lease effective sixty (60) days from the date of Landlord’s election to relocate Tenant.
Appears in 1 contract
Samples: Office Lease (Tercica Inc)