Common use of SUBSTITUTION OF SPACE Clause in Contracts

SUBSTITUTION OF SPACE. LESSOR expressly reserves the right at LESSOR'S sole cost and expense, to remove LESSEE from the Leased Premises and to relocate LESSEE in some other space of LESSOR'S choosing of approximately the same dimensions and size within the Buildings, which other space shall be decorated by LESSOR at LESSOR'S expense. LESSOR shall have the right, in LESSOR'S sole discretion, to use such decorations and materials from the existing Premises, or other materials, so that the space in which LESSEE is relocated shall be comparable to its interior design and decoration to the Premises from which LESSEE is removed; provided, however, that if LESSOR exercises its election to remove and relocate LESSEE in other space within said Building, which is at that time leasing for a higher rate of Base Rental, then LESSEE shall not be required to pay the difference between the Base Rental of the Premises and the higher Base Rental of the space in which LESSEE is relocated. Nothing herein contained shall be construed to relieve LESSEE, or imply that LESSEE is relieved, of the liability for or obligation to pay any additional rent due by reason of the provisions of Section 5 of this Lease, the provisions of which Section shall be applied to the space in which LESSEE is relocated on the same basis as said provisions were applied to the Premises from which LESSEE is removed. LESSEE agrees that LESSOR'S exercise of its election to remove and relocate LESSEE shall not terminate this Lease or release LESSEE, in whole or in part, from LESSEE'S obligation to pay the rents and perform the covenants and agreements hereunder for the full Term of this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Newsmax Media Inc), Lease Agreement (Newsmax Media Inc)

AutoNDA by SimpleDocs

SUBSTITUTION OF SPACE. LESSOR expressly reserves the right Landlord may, at LESSOR'S sole cost and Landlord’s expense, upon not less than ninety (90) days’ notice to remove LESSEE Tenant, relocate Tenant within the Building to space which is comparable in size, condition, improvements, layout and access to the Premises. If Landlord relocates Tenant, Landlord shall reimburse Tenant for Tenant’s reasonable out of pocket expenses for moving Tenant’s furniture, equipment, and supplies from the Leased Premises to the relocation space and to relocate LESSEE in some other space for reprinting Tenant’s stationery of LESSOR'S choosing of approximately the same dimensions quality and size within quantity as Tenant’s stationery supply on hand immediately before Landlord’s notice to Tenant of the Buildingsexercise of this relocation right. Upon such relocation, which other the relocation space shall be decorated by LESSOR at LESSOR'S expense. LESSOR shall have the right, in LESSOR'S sole discretion, deemed to use such decorations and materials from the existing Premises, or other materials, so that the space in which LESSEE is relocated shall be comparable to its interior design and decoration to the Premises from which LESSEE is removed; provided, however, that if LESSOR exercises its election to remove and relocate LESSEE in other space within said Building, which is at that time leasing for a higher rate of Base Rental, then LESSEE shall not be required to pay the difference between the Base Rental of the Premises and the higher Base Rental terms of the space Lease shall remain in which LESSEE full force and shall apply to the relocation space, it being agreed that if the size of the new premises is relocated. Nothing herein contained larger than the size of the original Premises, Tenant’s Base Rent shall not be adjusted; however, if the size of the new premises is smaller than the size of the original Premises, Tenant’s Base Rent shall be construed decreased. No amendment or other instrument shall be necessary to relieve LESSEEeffectuate the relocation contemplated by this Section; however, if requested by Landlord, Tenant shall execute an appropriate amendment document within ten (10) days after Landlord’s written request therefor. If Tenant fails to execute such relocation amendment within such time period, or imply that LESSEE is relievedif Tenant fails to relocate within the time period stated in Landlord’s relocation notice to Tenant, of the liability for or obligation to pay any additional rent due by reason of the provisions of Section 5 of this Lease, the provisions of which Section shall be applied to the space in which LESSEE is relocated on the same basis as said provisions were applied to the Premises from which LESSEE is removed. LESSEE agrees that LESSOR'S exercise of its election to remove and relocate LESSEE shall not then Landlord may terminate this Lease or release LESSEE, by notifying Tenant in whole or writing thereof at least thirty (30) days prior to the termination date contained in part, from LESSEE'S obligation Landlord’s termination notice. Time is of the essence with respect to pay the rents and perform the covenants and agreements hereunder for the full Term of Tenant’s obligations under this LeaseSection.

Appears in 2 contracts

Samples: Office Lease Agreement (Spruce Biosciences, Inc.), Office Lease Agreement (Spruce Biosciences, Inc.)

AutoNDA by SimpleDocs

SUBSTITUTION OF SPACE. LESSOR expressly reserves the right Landlord may, at LESSOR'S sole cost and Xxxxxxxx’s expense, upon not less than ninety (90) days’ notice to remove LESSEE Tenant, relocate Tenant within the Building to space which is comparable in size, condition, improvements, layout and access to the Premises. If Landlord relocates Tenant, Landlord shall reimburse Tenant for Tenant’s reasonable out of pocket expenses for moving Tenant’s furniture, equipment, and supplies from the Leased Premises to the relocation space and to relocate LESSEE in some other space for reprinting Tenant’s stationery of LESSOR'S choosing of approximately the same dimensions quality and size within quantity as Tenant’s stationery supply on hand immediately before Landlord’s notice to Tenant of the Buildingsexercise of this relocation right. Upon such relocation, which other the relocation space shall be decorated by LESSOR at LESSOR'S expense. LESSOR shall have the right, in LESSOR'S sole discretion, deemed to use such decorations and materials from the existing Premises, or other materials, so that the space in which LESSEE is relocated shall be comparable to its interior design and decoration to the Premises from which LESSEE is removed; provided, however, that if LESSOR exercises its election to remove and relocate LESSEE in other space within said Building, which is at that time leasing for a higher rate of Base Rental, then LESSEE shall not be required to pay the difference between the Base Rental of the Premises and the higher Base Rental terms of the space Lease shall remain in which LESSEE full force and shall apply to the relocation space, it being agreed that if the size of the new premises is relocated. Nothing herein contained larger than the size of the original Premises, Tenant’s Base Rent shall not be adjusted; however, if the size of the new premises is smaller than the size of the original Premises, Tenant’s Base Rent shall be construed decreased. No amendment or other instrument shall be necessary to relieve LESSEEeffectuate the relocation contemplated by this Section; however, if requested by Landlord, Tenant shall execute an appropriate amendment document within ten (10) days after Xxxxxxxx’s written request therefor. If Xxxxxx fails to execute such relocation amendment within such time period, or imply that LESSEE is relievedif Tenant fails to relocate within the time period stated in Landlord’s relocation notice to Tenant, of the liability for or obligation to pay any additional rent due by reason of the provisions of Section 5 of this Lease, the provisions of which Section shall be applied to the space in which LESSEE is relocated on the same basis as said provisions were applied to the Premises from which LESSEE is removed. LESSEE agrees that LESSOR'S exercise of its election to remove and relocate LESSEE shall not then Landlord may terminate this Lease or release LESSEE, by notifying Tenant in whole or writing thereof at least thirty (30) days prior to the termination date contained in part, from LESSEE'S obligation Landlord’s termination notice. Time is of the essence with respect to pay the rents and perform the covenants and agreements hereunder for the full Term of Tenant’s obligations under this LeaseSection.

Appears in 1 contract

Samples: Office Lease Agreement (Spruce Biosciences, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.