SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right to substitute for the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant. (ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder. (iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant. (iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 3 contracts
Samples: Office Lease Agreement (Semper Paratus Acquisition Corp), Office Lease Agreement (Semper Paratus Acquisition Corp), Office Lease Agreement (Semper Paratus Acquisition Corp)
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafterLandlord may elect, Landlord shall have the right by written notice to Tenant, to substitute for the premises then being leased or to be leased hereunder Premises other office space in the Building (herein called the “Existing Substitute Premises”) other premises within the Building (the “New Premises”) designated by Landlord, provided that the New 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 least substantially the same size Landlord’s cost, to prepare plans and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable specifications for the purposes for Substitute Premises in a form which is complete to allow subcontractors to bid on the Existing Premises were being used by Tenant orwork, if possession and which are a logical extension of the Existing space plan of the Substitute Premises had not yet been received (as reasonably determined by TenantLandlord) 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 for existing in the purposes for which the Existing Premises were to be used by Tenant.
(ii) If e.g., specialty finishes such as glass, ceiling treatments, specialty lighting, built-in or custom cabinetry), Tenant shall not have received possession of the Existing Premisespay to Landlord, thenpromptly upon billing therefor, as of the date all costs and expenses incurred by Landlord gives notice of a substitution, in connection with such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitutionupgraded improvements. Tenant shall vacate and surrender the Existing Premises on or before and shall occupy the date 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 “Relocation Date”) which is improvements within the later 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 thirtieth (30th) day after Substitute Premises fixtures, equipment, improvements and appurtenances at least equal in quality to those contained in the date that Landlord gives Tenant written Premises at the time such notice of Lxxxxxxxsubstitution is given by Landlord, in accordance with the Relocation Plans, (ii) provide sufficient personnel to perform under Tenant’s intent direction the moving of Tenant’s Property from the Premises to substitute the New Premises for the Existing Substitute Premises, and (iiiii) reimburse Tenant for all actual and reasonable out-of-pocket costs incurred by Tenant in connection with its move from the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements Substitute Premises, including, without limitation, the cost to install new communications and computer lines (to the extent not installed by Landlord as part of subparagraph (i) above. As its installation of the Relocation Dateimprovements in the Substitute Premises), the New Premises shall be deemed cost to be move Tenant’s furniture from the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Substitute Premises, and provided the cost of reasonable amounts of replacement stationery. Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h)Article and the prompt surrender by Tenant of the Premises. Without limiting the generality of the preceding sentence, Txxxxx Tenant agrees (A) to provide to Landlord promptly such approvals, instructions, plans, specifications any approvals or instructions and any other information, as may be information reasonably requested by LandlordLandlord 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. (i) At any time hereafterduring the Lease Term, Landlord shall have the right to substitute for the premises then being leased or to be leased hereunder right, upon not less than sixty (60) days prior written notice (the “Existing PremisesRelocation Notice”) to Tenant, to relocate Tenant, at Landlord’s expense, to other premises within space located on or above the seventh (7th) floor the Building on the same side of the Building as the Premises (the “New PremisesSubstitution Space”). In the event of any such relocation, Landlord shall: (i) provided prepare and decorate the Substitution Space so that the New Premises shall Substitution Space will be of at least substantially comparable size, layout, design, materials, finishes and condition as the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
Premises; (ii) If Tenant shall not have received possession of move Tenant’s furniture, furnishings, fixtures, equipment, files, and other personal property to the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder Substitution Space; and the Existing Premises shall cease to be the Premises hereunder.
(iii) The reimburse Tenant for the reasonable cost of replacing a reasonable quantity of Tenant’s business stationery containing Tenant’s address (which reimbursement shall be paid within thirty (30) days of Landlord’s receipt of copies of paid invoices evidencing such costs). Upon receipt of the Relocation Notice and Landlord’s compliance with 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 subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises 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 “Relocation Date”) which is the later of remedies set forth in Article 19 hereof), (iA) the thirtieth (30th) day after provisions of Article 16 above shall apply to the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (iiB) Landlord shall have the fifteenth right (15thbut not the obligation) day after Landlord gives Tenant written notice that to immediately commence unlawful detainer proceedings as if the New Premises have been substantially completed so that they conform Lease Term with respect to the requirements of subparagraph (i) abovePremises had naturally expired. As of the Relocation Date, the New Premises shall be deemed In an effort to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses minimize interruption of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its propertybusiness operations, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) and Tenant shall not be entitled cooperate to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly schedule and execute such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlordrelocation.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord shall have the right to move Tenant to other space in the Building comparable to the Premises, and all terms hereof shall apply to the new space with equal force. In such event, Landlord shall give Tenant at least ninety (i90) At any days prior written notice of Landlord’s election to so relocate Tenant (“Relocation Notice”), and shall move Tenant’s effects to the new space at Landlord’s sole cost and expense at such time hereafterand in such manner as to inconvenience Tenant as little as reasonably practicable. The new space shall be delivered to Tenant with improvements substantially similar to those improvements existing in the Premises at the time of Landlord’s notification to Tenant of the relocation. Simultaneously with such relocation of the Premises, the parties shall 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 substitute for rescind the premises then being leased or Relocation Notice by written notice to be leased hereunder Tenant within ten (the “Existing Premises”10) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice days after Landlord’s receipt of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s directionTermination Notice, in which event such move may not case the Termination Notice shall be made except during eveningsnull and void, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant Premises shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s businessrelocated, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under and this Lease be otherwise affected, as a result of the substitution except as otherwise provided shall remain in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlordfull force and effect.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (ia) At any time hereafterand from time to time whether before or after the Commencement Date, upon at least 90 days prior written notice, Landlord shall have the right to substitute other space in the Building or Complex (“Substitute Space”) for the premises then being leased or to be leased hereunder Premises by notice (the a “Existing PremisesSubstitution Notice”) other premises within given to Tenant designating the Building (space so substituted for the “New Premises”) provided . The Substitute Space shall have a rentable area and configuration substantially similar to the Premises. Notwithstanding such substitution of space, this Lease and all the terms, provisions, covenants and conditions contained in this Lease shall remain and continue in full force and effect, except that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Substitute Space, with the same force and effect as if the Substitute Space were originally specified in this Lease as the Premises leased demised hereunder.
(b) In the event of the substitution of space as provided in this Section, the following provisions (i) through (iv) shall apply:
(i) If the Substitute Space has less square footage than the Premises, then effective on the date the Substitute Space is available for occupancy by Tenant (the “Substitution Date”), the Fixed Rent and the Additional Rent payable under this Lease shall be decreased proportionately. If the Substitute Space has more square footage than the Premises, then effective on the Substitution Date, the Fixed Rent and the Existing Premises shall cease to be the “Premises” leased Additional Rent payable under this LeaseLease shall be increased proportionately, but not by more than 5%.
(ii) Landlord shall, at Lxxxxxxx’s expense, prepare the Substitute Space in substantially the same manner as the Premises were prepared for Tenant’s initial occupancy (including the Initial Installations by Landlord and Tenant’s Alterations). At such time Landlord shall have the right to move any millwork, floor covering, cabinet work, and any other decoration as Tenant vacates well as telephone lines and any other communication line and other reusable items, from the Existing Premises and relocates to the New PremisesSubstitute Space, and provided Tenant is subject to Tenant’s prior approval, which approval shall not in default under the Leasebe unreasonably withheld, conditioned or delayed. In addition, Landlord shall (a) pay the actual and reasonable out of pocket expenses of reimburse Tenant for Tenant’s moving of its reasonable documented costs to relocate Tenant’s fixtures, equipment and other personal property from the Existing Premises to the New PremisesSubstitute Space using a moving company approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed.
(iii) As soon as Landlord has Substantially Completed preparing the Substitute Space, Tenant, upon 45 days’ prior written notice, shall vacate and surrender the Premises within such 45 day period in the condition required by Section 18.1, and (b) promptly reimburse any failure to do so shall be subject to Section 18.2. Tenant for its actual shall move to the Substitute Space, at Landlord’s reasonable cost and reasonable out of pocket costs in connection with expense. If Txxxxx fails to move to the relocation of any telephone or other communications equipment Substitute Space within such 45 day period, Landlord, as Txxxxx’s agent, may remove Tenant from the Existing Premises to the New PremisesSubstitute Space. HoweverThe failure of Tenant to move to the Substitute Space pursuant to this Section within 5 days after the expiration of such 45 days’ notice shall be an Event of Default, instead of only paying and Tenant shall pay Rent with respect to both the expenses of Txxxxx’s moving of its property, Landlord may elect Premises and Substitute Space until Txxxxx has moved to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to TenantSubstitute Space.
(iv) Promptly after Tenant shall enter into occupancy of the Substitute Space, Landlord shall reimburse Tenant for Tenant’s reasonable, direct, out-of-pocket moving expenses, unless Lxxxxxxx moved Tenant into the Substitute Space pursuant to Section (iii) above. Upon request from Landlord, Tenant shall supply Landlord with satisfactory evidence of direct out-of-pocket expenses incurred by Txxxxx in moving from the Premises to the Substitute Space.
(c) Following any substitution of space pursuant to this Section 14,3, Landlord and Tenant, promptly at the request of either party, shall execute and deliver a supplementary agreement setting forth such substitution of space, the Substitution Date and the decrease (if the Substitute Space is less square footage than the Premises) or the increase (if the Substitute Space is more square footage than Premises) in the Fixed Rent and Additional Rent.
(d) Notwithstanding anything in this Section 14.3 to the contrary, if Tenant is relocated to Substitute Space by a Substitution Notice during the final 365 days of the Term (with Tenant having no valid unexercised extension options remaining as of the Substitution Date), and Tenant is not be entitled to any compensation for any inconvenience or interference satisfied, in its reasonable discretion, with the Substitute Space as identified by Landlord in the Substitution Notice, Tenant may, as its sole remedy, notify Landlord in writing (“Tenant’s Substitution Termination Notice”) no later than ten (10) days after Txxxxx’s businessreceipt of the Substitution Notice, nor time being of the essence, that Tenant elects to any abatement terminate this Lease, in which event, this Lease shall be deemed terminated as if by lapse of time, with no termination fee, penalty or reduction in rentpayment due Landlord whatsoever on the Substitution Date, nor shall unless, Landlord revokes the Substitution Notice by delivering written notice of such revocation to Tenant within ten (10) days after Landlord’s receipt of Tenant’s obligations under Substitution Termination Notice, in which event this Lease shall continue in full force and effect as if Tenant’s Substitution Termination Notice had not been delivered and Landlord’s Substitution Notice shall be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlorddeemed void.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord shall have the one-time right (iexcept during the first or last 12 months of the Lease Term), upon giving Tenant not less than one hundred eighty (180) At any time hereafterdays’ notice in writing, Landlord to 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 (provided, however, that if Tenant disagrees that such substitute space is comparable, Tenant shall have the right to substitute for the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, terminate this Lease as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premisesproposed relocation date, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out moving expenses). If the total rentable square footage of pocket costs in connection with the new space should exceed the total of the original Premises, Tenant’s Rent shall be increased proportionately (but only to the extent Tenant requests space larger than the original Premises). If, however, such total rentable square footage shall be less, Tenant’s Rent shall be decreased proportionately. In the event of any such relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its propertyTenant, Landlord may elect to either move shall pay for Tenant’s property or provide personnel reasonable moving costs and other ancillary expenses (as invoiced by Tenant, not to do so under Tenant’s directionexceed $2,500.00); provided, in which event such move may not be made except during eveningshowever, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for damages for any inconvenience or interference with Txxxxx’s businessor interruption of its business during or resulting from such relocation (provided Landlord complies with its Lease obligations). However, nor Landlord shall make reasonable efforts to any abatement or reduction in rentminimize such interference. If Landlord relocates Tenant to such new space, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord and each and all of its obligations under this subparagraph (hterms, covenants and conditions shall remain in full force and effect and be deemed applicable to such new space, with the exception of any right(s) of first refusal, right(s) of first offer, or expansion right(s) or option(s). Without limiting , which shall be deemed void, and such new space shall thereafter be deemed to be the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord“Premises”.
Appears in 1 contract
Samples: Lease (Heat Biologics, Inc.)
SUBSTITUTION OF OTHER PREMISES. Landlord shall have the right to relocate Tenant to other space in the Project comparable to the Premises, and all terms hereof shall apply to the new space with equal force and effect, except as otherwise provided in this Article 22. In such event, Landlord shall give Tenant prior notice of Landlord’s election to so relocate Tenant, and shall move Tenant’s effects to the new space at Landlord’s sole cost and expense (including costs of re-cabling of Tenant’s computer network located in the Premises) at such time and in such manner as to inconvenience Tenant as little as reasonably practicable. 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 new space (including, without limitation, the location and the rentable area of the 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) At any time hereafterin 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 substitute for cancel and terminate this Lease effective sixty (60) days from the premises then being leased or date of Landlord’s election to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by relocate Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
Samples: Office Lease (Novacea Inc)
SUBSTITUTION OF OTHER PREMISES. Landlord shall have the right during the Lease Term and Option Term to relocate Tenant to other space in the Project comparable to the Premises, and all terms hereof shall apply to the 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 (i1) At time during the initial Lease Term and one (1) time during the Option Term timely and properly exercised by Tenant. In any such event, Landlord shall give Tenant not less than one hundred twenty (120) days’ prior notice of Landlord’s election to so relocate Tenant, and shall move Tenant’s effects to the new space at Landlord’s sole cost and expense at such time hereafterand in such manner as to inconvenience Tenant as little as reasonably practicable. Such new space (the “New Premises”) shall be as close as practicable in size and condition to the existing Premises, and Landlord, at its sole cost and expense shall construct improvements in such New Premises to a standard reasonably equivalent (but 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 the reasonable costs and expenses incurred by Tenant in connection with such relocation (including, but not limited to, the costs of reasonable supplies of replacement stationery, and the reasonable costs of moving of any of Tenant’s furniture, equipment, personal property and the reasonable costs of moving and/or installing Tenant’s telephone and data systems installations not moved by Landlord), within thirty (30) days of Landlord’s receipt of an 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 new space (including, without limitation, the location and the rentable area of the 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 substitute for cancel and terminate this Lease effective sixty (60) days from the premises then being leased or date of Landlord’s election to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by relocate Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right (not more than one (1) time during the initial Lease Term) to move Tenant to other second (2nd), third (3rd) or fourth (4th)-floor space on the East side of the Building comparable to the Premises, with no less than ten (10) of the fourteen (14) offices in such space located on the perimeter glass line (Landlord nevertheless using commercially reasonable, good faith efforts to maximize the number of such offices to the perimeter glass line), and all terms hereof shall apply to the new space with equal force; provided that if the substitute premises contains less square footage than the Premises, then all amounts, percentages and figures appearing or referred to in this Lease based upon square footage (including, without limitation, the amount of Rent) shall be modified in accordance with such reduced square footage. In such event, Landlord shall give Tenant prior notice, shall provide Tenant, at Landlord's sole cost and expense, with improvements at least equal in quality to those in the Premises 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 premises then being leased or reasonable costs and expenses incurred by Tenant in connection with such relocation which are reasonably approved in advance by Landlord up to be leased hereunder an amount equal to Fifteen Thousand and 00/100 Dollars ($15,000.00) in the “Existing Premises”) other premises within the Building aggregate (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable including, but not limited to, for the purposes for which the Existing Premises were being used by Tenant orcosts of reasonable moving expenses, if possession 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 Existing Premises had not yet been received amounts incurred and actually paid by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably 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.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) A. At any time hereafterafter the date of this Lease, Landlord shall have the one-time right to substitute for the premises Premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) ), provided that the New Premises shall be of at least substantially the same size reasonably comparable size, layout, finishes and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession that of the Existing Premises. The New Premises shall: reasonably similar or better views than the Premises; be on the 8th floor or higher at the Building; contain at least 95% of the Rentable Square Feet of the Existing Premises; and contain reasonably equivalent or greater improvements (in quality and value) constructed by Landlord at its sole cost and expense (not to be treated as Expenses), thenand the Base Rent payable from time to time for the New Premises shall not exceed the Base Rent payable hereunder from time to time for the Existing Premises, as and “Tenant’s Proportionate Share” for purposes of determining Additional Rent hereunder shall not increase from that applicable to the Existing Premises.
B. If Landlord exercises its one-time substitution right under this Section 37, then Tenant shall vacate and surrender the Existing Premises on or before the later of (A) the one hundred twentieth (120th) day after the date Landlord gives notice of a substitution, substitution or (B) the tenth (10th) day after the day Landlord has completed the work to be done by Landlord in the New Premises pursuant to this subsection B. and tendered possession thereof to Tenant. As of the earlier of the date of such substitution shall be effectivevacation and surrender or the date when such vacation and surrender is required, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) . Landlord shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives pay all out-of-pocket expenses incurred by Tenant written notice in connection with packing and unpacking, disassembling and re-assembling furniture and work stations, unwiring and re-wiring of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premisesall data and telecom equipment, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Dateall other costs reasonably included in moving its fixtures, the New Premises shall be deemed to be the Premises leased under this Lease furnishings and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises equipment and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its other property from the Existing Premises to the New Premises, and (bii) promptly pay Tenant’s actual out-of-pocket expenses for reprinting of business cards and marketing materials (not to exceed the sum of $2,000.00), (iii) improve the New Premises so that it is substantially similar in build-out to the Existing Premises, and reimburse Tenant for its actual and reasonable out of all out-of-pocket costs incurred in connection with the relocation (or, if the same cannot reasonably be relocated, then replacement) of any telephone or other communications equipment from the Existing Premises to the New PremisesPremises within thirty (30) days after Tenant’s presentation of a bxxx for such costs. However, instead of only paying the Tenant’s expenses of Txxxxx’s incurred in connection with moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s directionso, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant. In no event shall Landlord be responsible for the cost of any new, additional or replacement equipment unless Tenant’s existing equipment cannot reasonably be reused in the New Premises.
(iv) C. Tenant shall not be entitled to any compensation for any inconvenience or interference with TxxxxxTenant’s business, nor to any abatement or reduction in rentRent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h)of the New Premises. Txxxxx Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h)Section 37. Without limiting the generality of the preceding sentence, Txxxxx Tenant agrees to promptly provide to Landlord promptly such approvals, instructions, plans, specifications or and other information, information as may be reasonably requested by Landlord in connection with such obligations.
D. Upon substitution of the New Premises for the Existing Premises, the Rentable Square Feet of the New Premises shall be substituted for the Rentable Square Feet of the Existing Premises. Further, Tenant’s Proportionate Share and Base Rent shall be recalculated and adjusted based on the new Rentable Square Feet of the New Premises; provided that in no event shall Base Rent or Tenant’s Proportionate Share for purposes of determining Additional Rent hereunder increase in connection with the substitution of the New Premises under this Section 37, from that otherwise applicable to the then Existing Premises. At Landlord’s request, Tenant shall execute a supplement to this Lease confirming the substitution of the New Premises for the Existing Premises. Any failure of Tenant to surrender possession of the Existing Premises as of the outside date required by this Section 37 shall thereupon be deemed a holding over by Tenant pursuant to Section 20 of this Lease. Tenant shall return possession of the Existing Premises in broom clean, but otherwise then as-is condition, and Tenant shall have no duty of restoration of the Existing Premises under Section 18 hereof, notwithstanding anything in this Lease to the contrary (provided further, that Tenant shall nevertheless be required to remove all of its personal property from the Existing Premises, all as and to the extent it is so required to do so under Section 18 hereof).
Appears in 1 contract
Samples: Office Lease (Vivid Seats Inc.)
SUBSTITUTION OF OTHER PREMISES. Landlord shall have the right, not more than one time during the initial Lease Term (and not more than once during the Option Term, if applicable), to relocate Tenant to other space (the “Relocation Space”) in the Project comparable to the Premises (e.g. comparable finishes and configuration, same number of offices and conference rooms, comparable ceiling treatment, doors and hardware), which Relocation Space shall be located on the third (3rd) floor or higher in the Project and all terms hereof shall apply to the Relocation Space with equal force and effect, except as otherwise provided in this Article 22. To the extent Tenant request any upgrades in the improvements located in such 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. In such event, Landlord shall give Tenant not less than ninety (90) days prior notice of Landlord’s election to so relocate Tenant, and shall move Tenant’s effects to the Relocation Space at Landlord’s sole cost and expense at such time and in such manner as to inconvenience Tenant as little as reasonably practicable. Landlord shall reimburse Tenant for all actual out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Relocation 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 Relocation Space), the cost to move and reconfigure Tenant’s furniture from the Premises to the Relocation Space, and the cost of reasonable amounts of replacement stationery. 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 Relocation Space (including, without limitation, the location and the rentable area of the 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) At any time hereafterin 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 substitute for the premises then being leased or to be leased hereunder cancel and terminate this Lease effective sixty (the “Existing Premises”60) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of days from the date Landlord gives notice of a substitutionLandlord’s election to relocate Tenant. 811311.04/WLA 378421-00002/2-14-20/mem/mem -52- 000 XXXXXXX XXXXXXXXX [Akero Therapeutics, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.Inc.]
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafterfollowing the first anniversary of the Lease Commencement Date, 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 then being leased fourth (4th) or to be leased hereunder sixth (the “Existing Premises”6th) other premises within floors of the Building (the “New Replacement Premises”), and all terms hereof shall apply to the new space with equal force; provided, however, with regard thereto, (i) provided that the New size of such Replacement Premises shall be of at least substantially [***] of the same size and of the then-existing Premises, (ii) such Replacement Premises shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then(iii) such Replacement Premises shall have direct access to the interior elevator lobby, as of the date Landlord gives notice of a substitution, (iv) such substitution shall be effective, the New Replacement Premises shall be contiguous, and (v) all of the 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 hereunder and Tenant’s then existing parking rights under this Lease shall not be reduced as a result of such relocation of the Existing Premises; provided further, however, to the extent the rentable square footage of the Replacement Premises is less than Premises, the Base Rent and Tenant’s Share shall cease be proportionately adjusted. In such event, Landlord shall give Tenant prior notice, shall provide Tenant, at Landlord’s sole cost and expense, with improvements at least equal in quality to be those in the Premises hereunder.
(iii) The provisions of this subparagraph (iii) and shall apply if 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 have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. reimburse Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing reasonable costs and expenses incurred by Tenant in connection with such relocation (specifically including, but not limited to, (x) Tenant’s actual, reasonable third-party expenses of moving its property, (y) Tenant’s actual, reasonable third-party expenses of removing, relocating and reinstalling Tenant’s security systems, voice and data cabling, telecommunications equipment and furniture systems in the Replacement Premises, and (iiz) the fifteenth costs of reasonable supplies of replacement stationery and telephone installations), within fifteen (15th15) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements days of subparagraph (i) aboveLandlord’s receipt of an reasonably detailed invoice therefor. As Simultaneously with such relocation of the Relocation DatePremises, the New Premises parties shall be deemed immediately execute an amendment to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with stating the relocation of the Premises. Landlord shall not have the right to move Tenant to any telephone or other communications equipment from the Existing Replacement Premises pursuant to the New Premisesterms of this Article 22 following the sixth (6th) anniversary of the Lease Commencement Date. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s directionMoreover, in which the event such move may that Tenant is prevented from using, and does not be made except during eveningsuse, weekends the Premises, the Replacement Premises, or holidaysany portion thereof, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, 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 substitution except Commission. furniture, fixtures and equipment from the Premises to the Relocation Premises without Tenant losing the use of, and not using, either the Premises or the Relocation Premises, or portions thereof (as otherwise provided 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 the case may be, after the date notice is given to Landlord, for such time that Tenant continues to be so prevented from using, and does not use, the Premises, the Replacement Premises, or a portion thereof (as applicable), in this subparagraph (h)the proportion of the rentable area of the portion of the Premises that Tenant is prevented from using and does not use. Txxxxx agrees Notwithstanding the foregoing, Tenant shall use commercially reasonable efforts to cooperate with Landlord cause all removing, relocating and reinstalling work to be completed in an expedient manner so as not to facilitate increase or otherwise extend the prompt completion by Landlord amount of its obligations under this subparagraph (h). Without limiting time that Tenant will be prevent from relocating to, and subsequently using, the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by LandlordReplacement Premises.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At Subject to the provisions of subparagraph (v) below, at any time hereafter, Landlord shall have the right to substitute for the premises then being leased or to be leased hereunder (the “"Existing Premises”") other premises within the Building (herein referred to as the “"New Premises”") provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant orand the New Premises shall have a comparable elevator identity, if possession of similar tenant finish and similar view and corner location within the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by TenantBuilding.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is not later than the later of (i) the thirtieth (30th) day after the date that Landlord gives shall notify Tenant written notice of Lxxxxxxx’s Landlord's intent to substitute make the New Premises for the Existing Premises, and (ii) substitution in question or the fifteenth (15th) day after Landlord gives Tenant written notice that shall have substantially completed the work to be done by Landlord in the New Premises have been substantially completed so that they conform pursuant to the requirements of this subparagraph (i) aboveiii). As of the Relocation Datesooner of such 15th day or the date of such surrender and vacation, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” Premises leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (aA) pay the actual and reasonable out of out-of-pocket expenses of Tenant’s 's moving of its property from the Existing Premises to the New Premises, (B) shall improve the New Premises so that they are substantially similar to the Existing Premises and (bC) promptly reimburse Tenant for its actual and reasonable out of out-of-pocket costs in connection with (i) the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises, and (ii) the replacement of a reasonable stock of stationery, letterhead, etc. which bears the suite number of the Premises. However, instead of only paying the expenses of Txxxxx’s Tenant's moving of its property, Landlord may elect to either move Tenant’s 's property or provide personnel to do so under Tenant’s 's direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s Tenant's business, nor to any abatement or reduction in rent, nor shall Tenant’s 's obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx Tenant agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At Landlord shall have the right at any time hereafterduring the First Extension Term or during the Second Extension Term (but not during the initial 5 year term) to move Tenant to any other leasable space in the Project 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. The new space shall include tenant improvements that are substantially equivalent to the tenant improvements contained in the Premises, and the cost of any required tenant improvements shall be paid by Landlord. If Landlord elects to relocate Tenant, Landlord shall give Tenant written notice of its election (the “Landlord Notice”). Tenant shall have the right to notify Landlord that Tenant elects to terminate this Lease within ten (10) days of receipt of the Landlord Notice. In the event that Tenant timely notifies Landlord that Tenant elects to terminate this Lease, Landlord shall have the right to substitute for notify Tenant within ten (10) days of receipt of Tenant’s election to terminate this Lease that Landlord withdraws its right to relocate the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were and this lease shall remain in full force and effect. If Landlord elects to be used by Tenant.
(ii) If relocate Tenant shall and Tenant does not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of terminate this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (a180) pay days after Tenant approves plans for the actual and reasonable out construction of pocket expenses of Tenant’s moving of its property from required tenant improvements at the Existing Premises to the New Premisesnew space, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premisesif any. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to unreasonably withhold or delay its approval of any compensation plans for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor the construction of tenant improvements for the new space. Landlord shall Tenant’s obligations under this Lease be otherwise affected, as a result give Tenant thirty (30) days’ advance notice of the substitution except as otherwise provided estimated move in this subparagraph (h)date. Txxxxx agrees 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 subparagraph (h)Lease. Without limiting After Tenant moves into the generality 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 number of parking spaces Tenant shall be entitled to use, all of which 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. Upon Tenant’s election to be relocated, Landlord and Tenant shall amend this Lease to provide for the relocation of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by LandlordPremises.
Appears in 1 contract
Samples: Office Lease (Ladenburg Thalmann Financial Services Inc)
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right to substitute for the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (herein referred to as the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Leased Premises hereunder and the Existing Premises shall cease to be the Leased Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is not later than the later of (i) the thirtieth (30th) 30th day after the date that Landlord gives shall notify Tenant written notice of LxxxxxxxLandlord’s intent to substitute make the substitution in question or the 15th day after Landlord shall have substantially completed the work to be done by Landlord in the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform pursuant to the requirements of this subparagraph (i) aboveiii). As of the Relocation Datesooner of such 15th day or the date of such surrender and vacation, the New Premises shall be deemed to be the Leased Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” Leased Premises leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of out-of-pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) shall improve the New Premises so that they are substantially similar to the Existing Premises and promptly reimburse Tenant for its actual and reasonable out of out-of-pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of TxxxxxTenant’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant. Notwithstanding the foregoing, Tenant shall be solely responsible for the cost of making the portion of the Other Space fit for Tenant’s particular use and its out-of-pocket expenses of Tenant’s moving of its property from the portion of the Primary Space noted on Exhibit A as the “Special Takeover Space” to the New Premises.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with TxxxxxTenant’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution substitution, except as otherwise provided in this subparagraph (h). Txxxxx H. Tenant agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). H. Without limiting the generality of the preceding sentence, Txxxxx Tenant agrees to promptly provide to Landlord promptly such approvals, instructions, plans, specifications or other information, information as may be reasonably requested by Landlord.
Appears in 1 contract
Samples: Lease Agreement (Stockeryale Inc)
SUBSTITUTION OF OTHER PREMISES. Landlord shall have the right to relocate Tenant to other space (ithe "Relocation Space") At in the Project comparable to the Premises (e.g. comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware), and all terms hereof shall apply to the Relocation Space with equal force and effect, except as otherwise provided in this Article 22. To the extent Tenant request any upgrades in the improvements located in such Relocation Space vis-a-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 prior notice of Landlord's election to so relocate Tenant, and shall move Tenant's effects to the Relocation Space at Landlord's sole cost and expense at such time hereafterand in such manner as to inconvenience Tenant as little as reasonably practicable. 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 Relocation Space (including, without limitation, the location and the rentable area of the 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 substitute for cancel and terminate this Lease effective sixty (60) days from the premises then being leased or date of Landlord's election to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by relocate Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right right, in its sole discretion, upon not less than thirty (30) days prior written notice to substitute for Tenant, to move the premises then being leased Office Premises to other 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 (on the east, south and west side of the Building) to be leased hereunder the Office Premises (the “Existing Substitute Premises”) other premises within ), and all terms hereof shall apply to the Building (new space with equal force. In such event, Landlord shall give Tenant prior notice and shall provide Tenant, at Landlord’s sole cost and expense, with tenant improvements reasonably comparable in quality to those in the “New Office Premises”) provided that the New Premises . In addition, Landlord shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by obligated to pay to Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date an allowance (the “Relocation DateAllowance”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform equal to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed reasonable out-of-pocket moving expenses actually incurred by Tenant to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property move from the Existing Office Premises to the New Substitute Premises (including the physical move from the Office Premises to the Substitute Premises and costs for 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. Simultaneously with such relocation to the Substitute Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the parties shall immediately execute an amendment to this Lease stating the relocation of any telephone or other communications equipment from the Existing Premises to the New Office Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right to substitute for the premises then being leased or move Tenant to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date space (the “Relocation DateSpace”) which is in the later Project comparable to the Premises, located on the eighth floor or higher, and all terms hereof shall apply to the Relocation Space with equal force. In such event, Landlord shall give Tenant not less than ninety (90) days prior notice of Landlord’s election to so relocate Tenant, and shall provide Tenant, at Landlord’s sole cost and expense, with tenant improvements at least equal in quality to those in the Premises and shall move Tenant’s effects, including the cost to install new communications and computer lines, to the Relocation 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 (including, but not limited to, the costs of reasonable supplies of replacement stationery and telephone installations), within thirty (30) days of Landlord’s receipt of an 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, (i) the thirtieth size of the Relocation Space shall be reasonably comparable to the size of the initial Premises (30th) day after and Landlord shall endeavor to provide substantially similar views from the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute Relocation Space as are available from the New Premises for the Existing Premises, ); and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of if the Relocation Date, Space is larger than the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New initial Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant Base Rent shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, increase as a result of the substitution except such relocation (subject to any scheduled escalations thereof) and Tenant’s Share shall not increase as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord a result of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlordrelocation.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right at any time to substitute for move Tenant to any other leasable space in the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) Project provided that the New Premises said space shall be of at least substantially approximately the same size as the Premises and that Landlord shall either have pay the cost of moving Tenant's furniture and equipment to the new space. The new space shall include tenant improvements that are substantially equivalent to the same perimeter configuration or a perimeter configuration substantially as usable for tenant improvements contained in the purposes for which Premises, and the Existing Premises were being used cost of any required tenant improvements shall be paid by Tenant or, if possession of the Existing Premises had not yet been received by Landlord. If Landlord elects to relocate Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant Landlord shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives give Tenant written notice of Lxxxxxxx’s intent its election and Tenant shall have thirty (30) days thereafter to substitute agree to be relocated in accordance with the New Premises for the Existing Premisesterms 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 (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be have accepted such new space) unless the Premises leased under 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 the Existing Premises Tenant shall cease to be the “Premises” leased perform all of their obligations under this Lease. At such time as If Tenant vacates the Existing Premises and relocates elects to the New Premises, and provided Tenant is not in default under the Leasebe relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises Tenant agrees to the New Premises, be relocated and (b) promptly reimburse Tenant approves plans for its actual and reasonable out the construction of pocket costs in connection with required tenant improvements at the relocation of any telephone or other communications equipment from the Existing Premises to the New Premisesnew space, if any. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to unreasonably withhold or delay its approval of any compensation plans for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor the construction of tenant improvements. Landlord shall Tenant’s obligations under this Lease be otherwise affected, as a result give Tenant thirty (30) days' advance notice of the substitution except as otherwise provided estimated move in this subparagraph (h)date. Txxxxx agrees 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 subparagraph (h)Lease. Without limiting After Tenant moves into the generality 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, Tenant’s Share of Real Property Tax increases and the number of parking spaces Tenant shall be entitled to use, all of which 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. Upon Tenant's election to be relocated, Landlord and Tenant shall amend this Lease to provide for the relocation of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by LandlordPremises.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord shall have the right to relocate Tenant to other space in the Project comparable to the Premises, and all terms hereof shall apply to the new space with equal force and effect, except as otherwise provided in this Article 22. In such event, Landlord shall give Tenant prior notice of Landlord's election to so relocate Tenant, 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. 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 new space (iincluding, without limitation, the location and the rentable area of the 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) At any time hereaftershall be modified accordingly. Should Tenant refuse to permit Landlord to move Tenant to the new space, Landlord shall have the right to substitute for cancel and terminate this Lease effective sixty (60) days from the premises then being leased or date of Landlord's election to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by relocate Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
Samples: Office Lease (Surge Components Inc)
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right right, in its sole discretion, upon not less than thirty (30) days prior written notice to substitute for Tenant, but not more than once during the premises then being leased or Lease Term and not prior to be leased hereunder the Must Take Commencement Date, to move Tenant to other space in the Building reasonably comparable in size, layout and finish to the Premises (the “Existing Substitute Premises”) other premises within ), and all terms hereof shall apply to the Building (new space with equal force. In such event, Landlord shall give Tenant prior notice and shall provide Tenant, at Landlord’s sole cost and expense, with tenant improvements reasonably comparable in quality to those in the “New Premises”) provided that the New Premises . In addition, Landlord shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by obligated to pay to Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date an allowance (the “Relocation DateAllowance”) which is equal to the later of reasonable out-of-pocket moving, re-cabling and re-fixturing expenses actually incurred by Tenant to move from the Premises to the Substitute Premises (i) including, but not limited to, the thirtieth (30th) day after physical move from the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent Premises to substitute the New Premises for the Existing Substitute Premises, the relocation of Tenant’s cabling and (ii) telephone and computer systems, and the fifteenth (15th) day after Landlord gives costs for Tenant’s signage relocation, stationery, business cards, invoices, brochures and the like if the address, facsimile or telephone numbers of Tenant written notice that the New Premises have been substantially completed so that they conform or any of its licensees are changed in any manner due to the requirements of subparagraph (i) above. As relocation); provided that, Tenant shall submit to Landlord a detailed description of the Relocation Datetype 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 new space is not equal to or 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 (including, without limitation, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be amounts of the “PremisesRent” leased payable under this Lease, and “Tenant’s Share”) shall be modified accordingly. At In the event Tenant is relocated in accordance with this Article 22, and the rentable area of the new space is greater the rentable area of the Premises at the time of such time as Tenant vacates the Existing Premises relocation, all amounts, percentages and relocates figures appearing or referred to in this Lease based upon such rentable area shall not be increased. Simultaneously with such relocation to the New Substitute Premises, and provided Tenant is not in default under the Lease, Landlord parties shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises immediately execute an amendment to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with this Lease stating the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
Samples: Office Lease (Oxigene Inc)
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafterIf Landlord requires the Premises for use by another tenant or for other reasons connected with the Building planning program, then Landlord shall have the right right, upon sixty (60) days' prior written notice to substitute for Tenant, to relocate the premises then being leased or Premises to be leased hereunder (the “Existing Premises”) other premises within space in the Building (of substantially similar size as the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and with tenant improvements of substantially similar age, quality and layout as then existing in the Premises. In the event of any such relocation, Landlord shall pay for the cost of providing such substantially similar tenant improvements (iibut not any furniture or personal property), and Landlord shall reimburse Tenant, within thirty (30) days after Landlord's receipt of invoices and paid receipts, for the reasonable moving, telephone installation and stationery reprinting costs actually paid for by Tenant in connection with such relocation. If Landlord so relocates Tenant, the terms and conditions of this Lease shall remain in full force and effect and apply to the new space, except that (a) a revised Exhibit A shall become part of this Lease and shall reflect --------- the location of the new space, (b) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform Summary of Basic Lease Information of this Lease shall be amended to include and state all correct data as to the requirements of subparagraph new space, and (ic) above. As of the Relocation Date, the New Premises such new space shall thereafter be deemed to be the Premises leased under "Premises". Notwithstanding the foregoing provisions of this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates Article 22 to the New contrary, if ---------- the new space contains more rentable square feet than the original Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled obligated to pay any compensation for any inconvenience more Base Rent or interference with Txxxxx’s business, nor Direct Expenses than otherwise applicable to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h)original Premises. Txxxxx agrees Landlord and Tenant agree to cooperate with Landlord so as fully in order to facilitate minimize the prompt completion by Landlord inconvenience of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly Tenant resulting from such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlordrelocation.
Appears in 1 contract
Samples: Office Lease (Mego Financial Corp)
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right at any time to substitute for relocate Tenant to any other leasable space in the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) Project provided that the New Premises said space shall be of at least substantially approximately the same size as the Premises and that Landlord shall either have pay the cost of moving Tenant's furniture and equipment to the new space. The new space shall include tenant improvements that are substantially equivalent to the same perimeter configuration or a perimeter configuration substantially as usable for tenant improvements contained in the purposes for which Premises, and the Existing Premises were being used cost of any required tenant improvements shall be paid by Tenant or, if possession of the Existing Premises had not yet been received by Landlord. If Landlord elects to relocate Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant Landlord shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives give Tenant written notice of Lxxxxxxx’s intent its election and Tenant shall have thirty (30) days thereafter to substitute agree to be relocated in accordance with the New Premises for the Existing Premises, terms and conditions of this section 30 or to elect to terminate this Lease. If Tenant elects to terminate this Lease within said thirty (ii) the fifteenth (15th30) 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 gives gave Tenant its written notice that the New Premises electing to relocate Tenant. Landlord shall have been substantially completed so that they conform no liability to the requirements Tenant as a result of subparagraph (i) aboveTenant's election to terminate this Lease. As Prior to said termination, Landlord and Tenant shall perform all of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased their obligations under this Lease. At such time as If Tenant vacates the Existing Premises and relocates elects to the New Premises, and provided Tenant is not in default under the Leasebe relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises Tenant agrees to the New Premises, be relocated and (b) promptly reimburse Tenant approves plans for its actual and reasonable out the construction of pocket costs in connection with required tenant improvements at the relocation of any telephone or other communications equipment from the Existing Premises to the New Premisesnew space, if any. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to unreasonably withhold or delay its approval of any compensation plans for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor the construction of tenant improvements. Landlord shall Tenant’s obligations under this Lease be otherwise affected, as a result give Tenant thirty (30) days advance notice of the substitution except as otherwise provided estimated move in this subparagraph (h)date. Txxxxx agrees 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 subparagraph (h)Lease. Without limiting After Tenant moves into the generality 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 number of parking spaces Tenant shall be entitled to use, all of which 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. Upon Tenant's election to be relocated, Landlord and Tenant shall amend this Lease to provide for the relocation of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by LandlordPremises.
Appears in 1 contract
Samples: Lease Agreement (Noosh Inc)
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right at any time to substitute for move Tenant to any other leasable space in the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) Project provided that the New Premises said space shall be of at least substantially approximately the same size as the Premises and that Landlord shall either have pay the entire cost of moving Tenant's furniture and phone system [and] equipment to the new space and provide reasonable stationary allowance. The new space shall include tenant improvements that are substantially equivalent to the same perimeter configuration or a perimeter configuration substantially as usable for tenant improvements contained in the purposes for which Premises, and the Existing Premises were being used cost of any required tenant improvements shall be paid by Tenant or, if possession of the Existing Premises had not yet been received by Landlord. If Landlord elects to relocate Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant Landlord shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives give Tenant written notice of Lxxxxxxx’s intent its election and Tenant shall have thirty (30) days thereafter to substitute agree to be relocated in accordance with the New Premises for the Existing Premises, terms and conditions of this section 30 or to elect to terminate this Lease. If Tenant elects to terminate this Lease within said thirty (ii) the fifteenth (15th30) 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 gives gave Tenant its written notice that the New Premises electing to relocate Tenant. Landlord shall have been substantially completed so that they conform no liability to the requirements Tenant as a result of subparagraph (i) aboveTenant's election to terminate this Lease. As Prior to said termination, Landlord and Tenant shall perform all of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased their obligations under this Lease. At such time as If Tenant vacates the Existing Premises and relocates elects to the New Premises, and provided Tenant is not in default under the Leasebe relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises Tenant agrees to the New Premises, be relocated and (b) promptly reimburse Tenant approves plans for its actual and reasonable out the construction of pocket costs in connection with required tenant improvements at the relocation of any telephone or other communications equipment from the Existing Premises to the New Premisesnew space, if any. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to unreasonably withhold or delay its approval of any compensation plans for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor the construction of tenant improvements. Landlord shall Tenant’s obligations under this Lease be otherwise affected, as a result give Tenant thirty (30) days advance notice of the substitution except as otherwise provided estimated move in this subparagraph (h)date. Txxxxx agrees 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 subparagraph (h)Lease. Without limiting After Tenant moves into the generality 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 number of parking spaces Tenant shall be entitled to use, all of which 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. Upon Tenant's election to be relocated, Landlord and Tenant shall amend this Lease to provide for the relocation of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by LandlordPremises.
Appears in 1 contract
Samples: Standard Office Lease (United Panam Financial Corp)
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right option at any time to substitute for relocate Tenant to any other leasable space in the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) Office Park provided that the New Premises said space shall be of at least substantially approximately the same size as the Premises and that Landlord shall either have pay the cost of moving Tenant’s furniture and equipment to the new space with prior written notice to the Tenant. The new space shall include tenant improvements that are substantially equivalent to the same perimeter configuration or a perimeter configuration substantially as usable tenant improvements contained in the Premises, and the cost of 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 purposes for which construction of required tenant improvements at the Existing Premises were being used by Tenant ornew space, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If any. Tenant shall not have received possession 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 Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease estimated move in date. Prior to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform is moved to the requirements of subparagraph (i) above. As of the Relocation Datenew space, the New Premises Tenant shall be deemed to be remain in the Premises leased under this Lease and the Existing Premises shall cease continue to be the “Premises” leased perform all of its obligations under this Lease. At After Tenant moves into the new space, this Lease shall remain in full force and effect and be deemed applicable to such time new space, except as Tenant vacates to Fixed Rent, Tenant’s share of Operating Expenses, all of which shall be adjusted based on the Existing relationship between the number of rentable square feet in the original Premises and relocates the number of rentable square feet in the new space. Upon Tenant’s election to the New Premises, and provided Tenant is not in default under the Leasebe relocated, Landlord and Tenant shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises amend this Lease to the New Premises, and (b) promptly reimburse Tenant provide for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. HoweverIf the proposed substitute space will not meet the needs of Tenant, instead at Tenant’s reasonable discretion, the Tenant shall have the option of only paying rejecting the expenses of Txxxxx’s moving of its propertyrelocation. 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 move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenantparty.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
Samples: Lease (Aware Inc /Ma/)
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right right, but not more than once during the Term of this Lease, to substitute for the premises then being leased or move Tenant to be leased hereunder (the “Existing Premises”) any other premises within comparable, leasable space in the Building (the “New Premises”) provided that the New Premises said space shall be of at least substantially approximately the same size as the Premises and that Landlord shall either have pay the cost of moving Tenant's furniture and equipment to the new space as well as the reasonable cost of rewiring Tenant’s computers, Tenant’s cost of replacing existing stationery on hand and other similar, customary and reasonable moving costs. The new space shall include tenant improvements that are substantially equivalent to the same perimeter configuration or a perimeter configuration substantially as usable for tenant improvements contained in the purposes for which Premises, and the Existing Premises were being used cost of any required tenant improvements shall be paid by Tenant or, if possession of the Existing Premises had not yet been received by Landlord. If Landlord elects to relocate Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant Landlord shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives give Tenant written notice of Lxxxxxxx’s intent its election and Tenant shall have thirty (30) days thereafter to substitute agree to be relocated in accordance with the New Premises for the Existing Premises, terms and conditions of this Section 29 or to elect to terminate this Lease. If Tenant elects to terminate this Lease within said thirty (ii) the fifteenth (15th30) 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 gives gave Tenant its written notice that the New Premises electing to relocate Tenant. Landlord shall have been substantially completed so that they conform no liability to the requirements Tenant as a result of subparagraph (i) aboveTenant's election to terminate this Lease. As Prior to said termination, Landlord and Tenant shall perform all of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased their obligations under this Lease. At such time as If Tenant vacates the Existing Premises and relocates elects to the New Premises, and provided Tenant is not in default under the Leasebe relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises Tenant agrees to the New Premises, be relocated and (b) promptly reimburse Tenant approves plans for its actual and reasonable out the construction of pocket costs in connection with required tenant improvements at the relocation of any telephone or other communications equipment from the Existing Premises to the New Premisesnew space, if any. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to unreasonably withhold or delay its approval of any compensation plans for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor the construction of tenant improvements. Landlord shall Tenant’s obligations under this Lease be otherwise affected, as a result give Tenant thirty (30) days' advance notice of the substitution except as otherwise provided estimated move in this subparagraph (h)date. Txxxxx Landlord agrees to cooperate with Landlord so 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 subparagraph (h)Lease. Without limiting After Tenant moves into the generality 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, Tenant’s Share of Real Property Tax increases and the number of parking spaces Tenant shall be entitled to use, all of which 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. Upon Tenant's election to be relocated, Landlord and Tenant shall amend this Lease to provide for the relocation of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by LandlordPremises.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord shall 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, in the in the Project comparable to the Premises (e.g. comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware), and all terms hereof shall apply to the Relocation Space with equal force and effect, except as otherwise provided in this Article 22. To the extent Tenant request any upgrades in the improvements located in such Relocation Space vis-a-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 at least thirty (30) days' prior notice of Landlord's election to so relocate Tenant, and shall move Tenant's effects to the Relocation Space at Landlord's sole cost and expense at such time and in such manner as to inconvenience Tenant as little as reasonably practicable. Landlord shall reimburse Tenant for all actual out-of-pocket costs incurred by Tenant in connection with its move from the Premises to the Relocation Space, including, without limitation, the cost to install new communications and computer lines, the cost to move Tenant's furniture from the Premises to the Relocation Space, and the cost of reasonable amounts of replacement stationery. 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 Relocation Space (including, without limitation, the location and the rentable area of the 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) At any time hereafterin 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 substitute for cancel and terminate this Lease effective sixty (60) days from the premises then being leased or date of Landlord's election to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by relocate Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right at any time to substitute for move Tenant to any other leasable space in the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) Project provided that the New Premises said space shall be of at least substantially approximately the same size as the Premises and that Landlord shall either have pay the cost of moving Tenant’s furniture and equipment to the new space as well as the reasonable cost of rewiring Tenant’s computers, Tenant’s cost of replacing existing stationery on hand and other similar, customary and reasonable moving costs. The new space shall include tenant improvements that are substantially equivalent to the same perimeter configuration or a perimeter configuration substantially as usable for tenant improvements contained in the purposes for which Premises, and the Existing Premises were being used cost of any required tenant improvements shall be paid by Tenant or, if possession of the Existing Premises had not yet been received by Landlord. If Landlord elects to relocate Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant Landlord shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives give Tenant written notice of Lxxxxxxx’s intent its election and Tenant shall have thirty (30) days thereafter to substitute agree to be relocated in accordance with the New Premises for the Existing Premisesterms 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 (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be have accepted such new space) unless the Premises leased under 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 the Existing Premises Tenant shall cease to be the “Premises” leased perform all of their obligations under this Lease. At such time as If Tenant vacates the Existing Premises and relocates elects to the New Premises, and provided Tenant is not in default under the Leasebe relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises Tenant agrees to the New Premises, be relocated and (b) promptly reimburse Tenant approves plans for its actual and reasonable out the construction of pocket costs in connection with required tenant improvements at the relocation of any telephone or other communications equipment from the Existing Premises to the New Premisesnew space, if any. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to unreasonably withhold or delay its approval of any compensation plans for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor the construction of tenant improvements. Landlord shall Tenant’s obligations under this Lease be otherwise affected, as a result give Tenant thirty (30) days’ advance notice of the substitution except as otherwise provided estimated move in this subparagraph (h)date. Txxxxx agrees 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 subparagraph (h)Lease. Without limiting After Tenant moves into the generality 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, Tenant’s Share of Real Property Tax increases and the number of parking spaces Tenant shall be entitled to use, all of which 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. Upon Tenant’s election to be relocated, Landlord and Tenant shall amend this Lease to provide for the relocation of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by LandlordPremises.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right at any time to substitute for move Tenant to any other leasable space in the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) Project provided that the New Premises said space shall be of at least substantially similar in nature, orientation, size, condition and finishes as the Premises. approximately the same size as the Premises and that Landlord shall either have pay the cost of moving Tenant’s furniture and equipment to the new space as well as the reasonable cost of rewiring Tenant’s computers, Tenant’s cost of replacing existing stationery on hand and other similar, customary and reasonable moving costs. The new space shall include tenant improvements that are substantially equivalent to the same perimeter configuration or a perimeter configuration substantially as usable for tenant improvements contained in the purposes for which Premises, and the Existing Premises were being used cost of any required tenant improvements shall be paid by Tenant or, if possession of the Existing Premises had not yet been received by Landlord. If Landlord elects to relocate Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant Landlord shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives give Tenant written notice of Lxxxxxxx’s intent its election and Tenant shall have thirty (30) days thereafter to substitute agree to be relocated in accordance with the New Premises for the Existing Premises, terms and conditions of this Section 29 or to elect to terminate this Lease. If Tenant elects to terminate this Lease within said thirty (ii) the fifteenth (15th30) 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 gives gave Tenant its written notice that the New Premises electing to relocate Tenant. Landlord shall have been substantially completed so that they conform no liability to the requirements Tenant as a result of subparagraph (i) aboveTenant’s election to terminate this Lease. As Prior to said termination, Landlord and Tenant shall perform all of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased their obligations under this Lease. At such time as If Tenant vacates the Existing Premises and relocates elects to the New Premises, and provided Tenant is not in default under the Leasebe relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises Tenant agrees to the New Premises, be relocated and (b) promptly reimburse Tenant approves plans for its actual and reasonable out the construction of pocket costs in connection with required tenant improvements at the relocation of any telephone or other communications equipment from the Existing Premises to the New Premisesnew space, if any. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to unreasonably withhold or delay its approval of any compensation plans for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor the construction of tenant improvements. Landlord shall Tenant’s obligations under this Lease be otherwise affected, as a result give Tenant thirty (30) days’ advance notice of the substitution except as otherwise provided estimated move in this subparagraph (h)date. Txxxxx agrees 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 subparagraph (h)Lease. Without limiting After Tenant moves into the generality 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, Tenant’s Share of Real Property Tax increases and the number of parking spaces Tenant shall be entitled to use, all of which 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. Upon Tenant’s election to be relocated, Landlord and Tenant shall amend this Lease to provide for the relocation of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by LandlordPremises.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At Subject to the provisions of subparagraph (v) below, at any time hereafter, Landlord shall have the right to substitute for the premises then being leased or to be leased hereunder (the “Existing Premises”"EXISTING PREMISES") other premises within the Building (herein referred to as the “New Premises”"NEW PREMISES") provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant orand the New Premises shall have a comparable elevator identity, if possession of similar tenant finish, and similar view and corner location within the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by TenantBuilding.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is not later than the later of (i) the thirtieth (30th) 30th day after the date that Landlord gives shall notify Tenant written notice of Lxxxxxxx’s Landlord's intent to substitute make the substitution in question or the 15th day after Landlord shall have substantially completed the work to be done by Landlord in the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform pursuant to the requirements of subparagraph (i) aboveiii). As of the Relocation Datesooner of such 15th day or the date of such surrender and vacation, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” Premises leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (aA) pay the actual and reasonable out of out-of-pocket expenses of Tenant’s 's moving of its property from the Existing Premises to the New Premises, and (bB) shall improve the New Premises so that they are substantially similar to the Existing Premises and (C) promptly reimburse Tenant for its actual and reasonable out of out-of-pocket costs in connection with (a) the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises and (b) the replacement of a reasonable quantity of then existing stock of stationery, letterhead, etc, which bears the suite number of the Premises. HoweverHOWEVER, instead of only paying the expenses of Txxxxx’s Tenant's moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.may
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. Landlord shall have no right to relocate Tenant to other space in the Project during the 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, have the right to relocate Tenant to other space in the Project comparable to the Premises with comparable tenant improvements, and all terns hereof shall apply to the new space with equal force and effect, except as otherwise provided in this Article 22. In such event, Landlord shall give Tenant not less than thirty (i30) At days prior written notice of Landlord’s election to so relocate Tenant, 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. 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 new space (including, without limitation, the location and the rentable area of the 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 time hereaftersuch 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 substitute for cancel and terminate this Lease effective sixty (60) days from the premises then being leased or date of Landlord’s election to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by relocate Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
Samples: Office Lease (Tercica Inc)
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have may relocate any portion of Tenant’s Premises not within Tower IV, subject to the right 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 then being leased or Committed Non-Tower IV Premises, different space (herein referred to be leased hereunder (the “Existing Premises”) other premises within the Building (as the “New Premises”) in the Office Section, provided that the New Premises shall be of at least substantially usable for Tenant’s purpose; shall be contiguous to the remaining Premises; shall be situated on the same size and shall either have substantially the same perimeter configuration floor as, or a perimeter configuration substantially as usable for higher floor than, the purposes for which Committed Non Tower IV Premises; shall have a window line not less that the Existing Premises were being used by Tenant or, if possession window line of the Existing Committed Non-Tower IV Premises had not yet been received by Tenant, then for the purposes for from which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, being relocated; and Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Committed Non-Tower IV Premises to the New Premises, Premises and (b) promptly reimburse Tenant for its actual fully demising and reasonable out of pocket costs in connection with improving the relocation of any telephone or other communications equipment from the Existing New Premises so that they are substantially similar to the Committed Non-Tower IV Premises in quality of improvement and utility to Tenant. The New Premises. However, instead of only paying Premises shall contain not less rentable square footage as the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Committed Non-Tower IV Premises and in no event will the Base Rent or Tenant’s property Proportionate Expense Share or provide personnel to do so under Tenant’s direction, in which event such move may not Proportionate Tax Share be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result increased by reason of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlordsubstitution.
Appears in 1 contract
Samples: Office Lease (Wayfair Inc.)
SUBSTITUTION OF OTHER PREMISES. Landlord shall have the right, but not more than once during the Lease Term, to relocate Tenant to other space (ithe “Relocation Space”) At in the Project comparable to the Premises (e.g. comparable views, comparable finishes, comparable number of offices and conference rooms, comparable ceiling treatment, doors and hardware), located on a floor served by the high rise elevator bank of either the Building or One Embarcadero Center, and tenant improvements of equal or greater quality than those then-existing in the Premises, and all terms hereof shall apply to the Relocation Space with equal force and effect, except as otherwise provided in this Article 22. To the extent Tenant request any upgrades in the improvements located in such 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. In such event, Landlord shall give Tenant not less than sixty (60) days prior notice of Landlord’s election to so relocate Tenant, and shall move Tenant’s effects to the Relocation Space at Landlord’s sole cost and expense, including the cost to install new communications and computer lines, and the cost of reasonable amounts of replacement stationery, at such time hereafterand in such manner as to inconvenience Tenant as little as reasonably practicable. 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 Relocation Space (including, without limitation, the location and the rentable area of the 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 substitute for cancel and terminate this Lease effective sixty (60) days from the premises then being leased or date of Landlord’s election to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size and shall either have substantially the same perimeter configuration or a perimeter configuration substantially as usable for the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by relocate Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing Premises, and (ii) the fifteenth (15th) day after Landlord gives Tenant written notice that the New Premises have been substantially completed so that they conform to the requirements of subparagraph (i) above. As of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased under this Lease. At such time as Tenant vacates the Existing Premises and relocates to the New Premises, and provided Tenant is not in default under the Lease, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under this Lease be otherwise affected, as a result of the substitution except as otherwise provided in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlord.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafter, Landlord shall have the right at any time to substitute for move Tenant to any other leasable space in the premises then being leased or to be leased hereunder (the “Existing Premises”) other premises within the Building (the “New Premises”) Project provided that the New Premises said space shall be of at least substantially approximately the same size as the Premises and that Landlord shall either have pay the cost of moving Tenant's furniture and equipment to the new space. The new space shall include tenant improvements that are substantially equivalent to the same perimeter configuration or a perimeter configuration substantially as usable for tenant improvements contained in the purposes for which Premises, and the Existing Premises were being used cost of any required tenant improvements shall be paid by Tenant or, if possession of the Existing Premises had not yet been received by Landlord. If Landlord elects to relocate Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant Landlord shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date Landlord gives notice of substitution. Tenant shall vacate and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of (i) the thirtieth (30th) day after the date that Landlord gives give Tenant written notice of Lxxxxxxx’s intent its election and Tenant shall have thirty (30) days thereafter to substitute agree to be relocated in accordance with the New Premises for the Existing Premises, terms and conditions of this Section 30 or to elect to terminate this Lease. If Tenant elects to terminate this Lease within said thirty (ii) the fifteenth (15th30) 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 gives gave Tenant its written notice that the New Premises electing to relocate Tenant. Landlord shall have been substantially completed so that they conform no liability to the requirements Tenant as a result of subparagraph (i) aboveTenant's election to terminate this Lease. As Prior to said termination, Landlord and Tenant shall perform all of the Relocation Date, the New Premises shall be deemed to be the Premises leased under this Lease and the Existing Premises shall cease to be the “Premises” leased their obligations under this Lease. At such time as If Tenant vacates the Existing Premises and relocates elects to the New Premises, and provided Tenant is not in default under the Leasebe relocated, Landlord shall deliver substitute space to Tenant not more than one hundred eighty (180) days after (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises Tenant agrees to the New Premises, be relocated and (b) promptly reimburse Tenant approves plans for its actual and reasonable out the construction of pocket costs in connection with required tenant improvements at the relocation of any telephone or other communications equipment from the Existing Premises to the New Premisesnew space, if any. However, instead of only paying the expenses of Txxxxx’s moving of its property, Landlord may elect to either move Tenant’s property or provide personnel to do so under Tenant’s direction, in which event such move may not be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to unreasonably withhold or delay its approval of any compensation plans for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor the construction of tenant improvements. Landlord shall Tenant’s obligations under this Lease be otherwise affected, as a result give Tenant thirty (30) days advance notice of the substitution except as otherwise provided estimated move in this subparagraph (h)date. Txxxxx agrees 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 subparagraph (h)Lease. Without limiting After Tenant moves into the generality 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 number of parking spaces Tenant shall be entitled to use, all of which 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. Upon Tenant's election to be relocated, Landlord and Tenant shall amend this Lease to provide for the relocation of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by LandlordPremises.
Appears in 1 contract
SUBSTITUTION OF OTHER PREMISES. (i) At any time hereafterSubject to the following provisions of this Section 24.31, Landlord shall have the one-time right to substitute for the premises then being leased or move Tenant to be leased hereunder (the “Existing Premises”) other premises within space in the Building (the “New Premises”) provided that the New Premises shall be of at least substantially the same size as the Premises (the "Relocation Space") and located on the ground floor of the Building, and all terms hereof shall either apply to the Relocation Space with equal force. In such event, Landlord shall give Tenant at least ninety (90) days' prior written notice (the "Relocation Notice") of Landlord's election to so relocate Tenant. Following Landlord's timely and proper delivery of a Relocation Notice to Tenant, Landlord shall move Tenant's effects from the Premises to the Relocation Space at Landlord'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 (including, without limitation, new Identification Signs, as applicable) at Landlord's cost that have been substantially completed and are substantially similar to or better in quality than those tenant improvements existing in the Premises at the time Landlord delivered the Relocation Notice to Tenant, provided that such Relocation Space shall have at least the same perimeter configuration or a perimeter configuration substantially as usable for number of private offices and conferences rooms existing in the purposes for which the Existing Premises were being used by Tenant or, if possession of the Existing Premises had not yet been received by Tenant, then for the purposes for which the Existing Premises were to be used by Tenant.
(ii) If Tenant shall not have received possession of the Existing Premises, then, as of the date Landlord gives notice of a substitution, such substitution shall be effective, the New Premises shall be the Premises hereunder and the Existing Premises shall cease to be the Premises hereunder.
(iii) The provisions of this subparagraph (iii) shall apply if Tenant shall have already received possession of the Existing Premises as of the date of Landlord’s delivery of the Relocation Notice. In addition, if Landlord gives notice elects to relocate the Premises to a qualified Relocation Space, then Landlord, within thirty (30) days after Landlord's receipt of substitution. invoices from Tenant accompanied by contracts, receipts and other back-up documentation reasonably requested by Landlord, shall vacate reimburse Tenant for Tenant's actual, verifiable and surrender the Existing Premises on or before the date (the “Relocation Date”) which is the later of reasonable out-of-pocket expenses for (i) moving Tenant's furniture, fixtures, equipment, and supplies from the thirtieth (30th) day after Premises to the date that Landlord gives Tenant written notice of Lxxxxxxx’s intent to substitute the New Premises for the Existing PremisesRelocation Space, and (ii) if Tenant's suite number for the fifteenth (15th) day after Landlord gives Tenant written notice that Premises shall change, reprinting Tenant's business stationery in the New Premises have been substantially completed so that they conform same quality and quantity as Tenant's stationery supply on hand immediately prior to the requirements of subparagraph (i) above. As Tenant's receipt of the Relocation DateNotice. Such relocation shall not terminate or otherwise affect or modify this Lease except that from and after the date of such relocation, the New "Premises" shall refer to the Relocation Space into which Tenant has been moved, rather than the original Premises as defined in this Lease. Prior to or concurrently with such relocation of the Premises, the parties shall execute an amendment to this Lease confirming such relocation. Such relocation shall take place in accordance with and subject to the following: (A) the physical relocation of the Premises shall be deemed accomplished by Landlord at its expense over a weekend; and (B) if the rentable square feet of the Relocation Space is larger than the rentable square feet of the Premises immediately before the relocation, the Base Rent and Tenant's Share for the Relocation Space shall not increase but shall continue to be based on the rentable square feet of the Premises leased under 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 Lease and the Existing Premises shall cease to be by delivering written notice of termination (the “Premises” leased under Relocation Termination Notice”) to Landlord specifying the date upon which Tenant desires to terminate this Lease. At such time as Tenant vacates Lease (the Existing Premises "Relocation Termination Date"), which Relocation Termination Date must occur no earlier than fifteen (15) days after the date the Relocation Termination Notice is received by Landlord and relocates no later than ninety (90) days after the date the Relocation Termination Notice is received by Landlord and prior to the New PremisesLease Expiration Date; provided, and provided however, if Tenant is not in default under the Leasedelivers a Relocation Termination Notice to Landlord, Landlord shall (a) pay the actual and reasonable out of pocket expenses of Tenant’s moving of its property from the Existing Premises to the New Premises, and (b) promptly reimburse Tenant for its actual and reasonable out of pocket costs in connection with the relocation of any telephone or other communications equipment from the Existing Premises to the New Premises. However, instead of only paying the expenses of Txxxxx’s moving of its property, then Landlord may elect rescind Landlord’s Relocation Notice by delivering written notice of such rescission to either move TenantTenant within ten (10) days after Landlord’s property or provide personnel to do so under Tenant’s directionreceipt of the Relocation Termination Notice, in which event such move may not case, Landlord’s Relocation Notice shall be made except during evenings, weekends or holidays, so as to incur the least inconvenience to Tenant.
(iv) Tenant shall not be entitled to any compensation for any inconvenience or interference with Txxxxx’s business, nor to any abatement or reduction in rent, nor shall Tenant’s obligations under deemed null and void and this Lease be otherwise affected, as a result of the substitution except as otherwise provided shall continue in this subparagraph (h). Txxxxx agrees to cooperate with Landlord so as to facilitate the prompt completion by Landlord of its obligations under this subparagraph (h). Without limiting the generality of the preceding sentence, Txxxxx agrees to provide to Landlord promptly such approvals, instructions, plans, specifications or other information, as may be reasonably requested by Landlordfull force and effect.
Appears in 1 contract
Samples: Office Lease (Sierra Oncology, Inc.)