Substitution Space. Upon at least sixty (60) days' prior written notice, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment and supplies from the Premises to the relocation space and for reprinting Tenant's stationery of the same quality and quantity as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (i) if the rentable area of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way.
Appears in 3 contracts
Sources: Office Lease (Zapme Corp), Industrial Lease (Sitesmith Inc), Office Lease (E Comnetrix Inc)
Substitution Space. Upon (a) Landlord shall have the right at any time during the term of this Lease, including during any renewal or extension hereof, to substitute, instead of the Premises, other space of reasonably comparable size and decor in the Building or in the building known as MetroPlex I, (located at ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇), hereinafter referred to as “Substitution Space.”
(b) If Landlord desires to exercise such right, it shall give Client at least sixty thirty (6030) days' days prior written noticenotice thereof specifying the effective date of such substitution, Landlord may relocate Tenant within whereupon, as of such effective date: (i) the Project (or to any other facility owned by Landlord within the vicinity description of the ProjectPremises set forth in this Lease shall, without further act on the part of Landlord or Client, be deemed amended so that the Substitution Space shall, for all intents and purposes, be deemed the Premises hereunder, and all of the terms, covenants, conditions, provisions and agreements of this Lease shall continue in full force and effect and shall apply to the Substitution Space; and (ii) Client shall move from the Premises into the Substitution Space and shall vacate and surrender possession to space which is comparable in sizeLandlord of the Premises on and after such effective date; thereafter, utility and condition during the period of such occupancy, Client shall pay rent for the Substitution Space at the above-described rate, whereupon rent shall ▇▇▇▇▇ entirely with respect to the Premises. .
(c) If Landlord relocates Tenantexercises its relocation right, Landlord shall (a) reimburse Tenant Client for Tenant's Client’s reasonable out-of-pocket expenses for moving Tenant's Client’s furniture, equipment, supplies and telephones and telephone equipment and supplies from the presently leased Premises to the relocation space Substitution Space and for reprinting Tenant's Client’s stationery of the same quality and quantity as Tenant's stationery of Client’s stationary supply on hand immediately before prior to Landlord's ’s notice to Tenant Client of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (i) if the rentable area of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way.
Appears in 2 contracts
Sources: Lease Agreement (2U, Inc.), Lease Agreement (2U, Inc.)
Substitution Space. Upon at least sixty On one (601) days' occasion during the Term prior written noticeto the last year of the Term, Landlord may may, at Landlord’s expense, relocate Tenant within the Project (Building or to any other facility owned by Landlord within the vicinity of the Project) Complex, as applicable, to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for pay Tenant's ’s reasonable out-of-pocket expenses for and relating to moving Tenant's ’s fixtures (including but not limited to telephone and data cabling), furniture, equipment equipment, and other personal property and supplies from the Premises to the relocation space and for reprinting Tenant's ’s stationery of the same quality and quantity as Tenant's ’s stationery supply on hand immediately before Landlord's ’s notice to Tenant of the exercise of this relocation right, and (b) improve shall, at Landlord’s sole expense, construct improvements in and to the relocation space with functionally equivalent to the improvements substantially similar to those Landlord is committed to provide or has provided in the original Premises, and reinstall all of Tenant’s fixtures (including but not limited to telephone and data cabling), furniture, equipment, and other personal property and supplies in the relocation space. Notwithstanding anything to the contrary contained in the Section 24, if, at the time of such relocation, the Premises under this Leaseare being used for clinical diagnostic laboratory use, the relocation space must be improved so as to meet the requirements promulgated by the College of American Pathologists and the Clinical Laboratory Improvements Amendment of 1988 as administered by the State of New Jersey and the regulations of the Department of Health of the State New York applicable to clinical diagnostic laboratories. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this the Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within ten (i10) Business Days after Landlord’s written request therefor. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the rentable area of time period stated in Landlord’s relocation notice to Tenant (or, if such relocation space is not available on the date specified in Landlord’s relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then Landlord may terminate this Lease by notifying Tenant in writing thereof at least sixty (60) days prior to the termination date contained in Landlord’s termination notice. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way’s obligations under this Section.
Appears in 2 contracts
Sources: Office Lease Agreement (Interpace Biosciences, Inc.), Office Lease Agreement (Cancer Genetics, Inc)
Substitution Space. Upon at least sixty (60) days' days prior written notice, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment and supplies from the Premises to the relocation space and for reprinting Tenant's stationery of the same quality and quantity as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (ia) if the rentable area of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) date to a reduction in Base Basic Annual Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (iib) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Basic Annual Rent and Tenant's Proportionate Share shall not be modified in any way.
Appears in 2 contracts
Sources: Office Lease (Interactive Telesis Inc), Office Lease (Star Telecommunications Inc)
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord's expense, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) Building to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's stationery of the same quality and quantity quantity, as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within ten business days after Landlord's written request therefor. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate, within the time period stated in Landlord's relocation notice to Tenant (i) or, if such relocation space is not available on the rentable area of date specified in Landlord's relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then, in addition to Landlord's other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant in writing thereof at least 60 days prior to the termination date contained in Landlord's termination notice. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any wayobligations under this Section.
Appears in 2 contracts
Sources: Agreement and Plan of Reorganization (Biomira Inc), Lease Agreement (Biomira CORP)
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord’s expense, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) Building to space which is comparable at least substantially the same in size, utility and condition (including the initial Tenant’s Work constructed by Tenant pursuant to Exhibit C hereof) to the Premises but only on the 10th floor or above, all as reasonably acceptable to Tenant. Landlord shall deliver a written notice to Tenant stating the proposed relocation space, a floor plan of said space which evidences that its rentable square feet is not less than the rentable square feet in the Premises, a workletter describing the work to be performed by Landlord prior to delivery of the relocation space to Tenant, and the delivery date of the space to Tenant which in no event shall be earlier than ninety (90) days after the notice is delivered. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket expenses for moving Tenant's ’s furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's ’s stationery of the same quality and quantity as Tenant's ’s stationery supply on hand immediately before Landlord's ’s notice to Tenant of the exercise of this relocation right, right and (b) improve the relocation space all other reasonable out of pocket costs incurred by Tenant in connection with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Leasechanging its address. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation spacespace and in no event shall Rent or Tenant’s Proportionate Share increase as a result thereof. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord or Tenant, the other shall execute an appropriate amendment document within ten (i10) if Business Days after the rentable area other’s written request therefor. Time is of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way’s obligations under this Section.
Appears in 2 contracts
Sources: Office Lease Agreement (Dermavant Sciences LTD), Office Lease Agreement (Dermavant Sciences LTD)
Substitution Space. Upon 26.1 Landlord shall have a one-time right, which right may be exercised by Landlord at any time prior to the end of the Term of this Lease, or any renewal or extension hereof, to substitute, instead of the Premises, other space within the Project (which space shall have a Net Rentable Area of not less than the Net Rentable Area in the Premises as of the date of such substitution and shall be located on a floor of a building in the Project no lower than the floor on which the original Premises are located and in an area substantially similar to the location of the original Premises in the Building), hereinafter called the "Substitution Space".
26.2 If Landlord desires to exercise such right prior to the Commencement Date, Landlord shall give written notice thereof to Tenant not later than thirty (30) days prior to the effective date of such substitution, which notice shall specify the Substitution Space in question and the description of the Premises set forth in this Lease shall, without further act on the part of Landlord or Tenant, be deemed amended so that the Substitution Space shall, for all purposes, be deemed the Premises hereunder and all of the terms, covenants, conditions, provisions, and agreements of this Lease, including those agreements to pay Rent, shall continue in full force and effect and shall apply to the Substitution Space. The Leasehold Improvements in the Substitution Space shall be completed in the manner set forth in Exhibit "C" of this lease, and the costs thereof shall be allocated between Landlord and Tenant as described therein; provided, however, that if, prior to Landlord's notice of its election to substitute the Substitution Space for the Premises, Tenant has reasonably incurred costs or expenses in connection with planning or construction of the Leasehold Improvements in the original Premises and Tenant is (i) unable to use the plans or materials in question in connection with the Leasehold Improvements in the Substitution Space or (ii) unable to cancel orders for or return the materials in question for credit. Landlord shall reimburse Tenant for such costs and expenses (net of all applicable credits) upon presentation by Tenant of appropriate invoices and other substantiating materials therefor.
26.3 If Landlord desires to exercise such right after the Commencement Date, Landlord shall give Tenant at least sixty (60) days' prior written noticenotice thereof specifying the effective date of such substitution, whereupon, as of such effective date: (a) the description of the Premises set forth in this Lease shall, without further act on the part of Landlord may relocate or Tenant, be deemed amended so that the Substitution Space shall, for all purposes, be deemed the Premises hereunder, and all of the terms, covenants, conditions, provisions, and agreements of this Lease, including those agreements to pay Rent, shall, subject to adjustment as provided in Section 26.6 below, continue in full force and effect and shall apply to the Substitution Space, and (b) Tenant shall move from the present Premises into the Substitution Space and shall vacate and surrender possession to Landlord of the present Premises, and if Tenant continues to occupy the present Premises after such effective date, then thereafter, during the period of such occupancy, Tenant shall pay Rent for the present Premises as set forth in this Lease, in addition to the Rent for the Substitution Space at the above-described rates. Tenant shall accept possession of the Substitution Space in its "as-is" condition as of such effective date.
26.4 Notwithstanding the provisions of Section 26.3 above, if Landlord exercises its right to substitute the Substitution Space for the Premises after the Commencement Date, then Tenant shall have the option to require Landlord, at Landlord's expense, to alter the Substitution Space in a manner substantially similar to the manner as the present Premises were finished out or altered pursuant to this Lease. Such option shall be exercised, if at all, by notice from Tenant to Landlord within fifteen (15) days after the Project aforesaid notice from Landlord to Tenant of such proposed substitution; otherwise, such option in favor of Tenant shall be null and void. If such option is validly so exercised by Tenant:
(or a) Tenant shall continue to any other facility owned occupy the present Premises (upon all of the terms, covenants, conditions, provisions, and agreements of this Lease, including the covenant for the payment of Rent) until the date on which Landlord shall have substantially completed such alteration work in the Substitution Space such that Tenant can commence business operations from the Substitution Space; and (b) Tenant shall move from the present Premises into the Substitution Space immediately upon the date of such substantial completion by Landlord within the vicinity and shall vacate and surrender possession to Landlord of the Project) present Premises after such date, and if Tenant continues to space which is comparable occupy the present Premises following such date of substantial completion, then, thereafter during the period of such occupancy, Tenant shall pay Rent for the present Premises as set forth in size, utility and condition this lease in addition to the PremisesRent for the Substitution Space at the above-described rates. Landlord shall use its good faith efforts to allow Tenant to move into the Substitution Space over the weekend immediately prior to the date of substantial completion of the same. With respect to such alteration work in the Substitution Space, if Tenant requests materials or installations other than those originally installed by Landlord, or if Tenant shall make changes in the work (such non-original materials or installations or changes being subject to Landlord's prior written approval), and if such non-original materials or installations or changes shall delay the work to be performed by Landlord, or if Tenant shall otherwise delay the substantial completion of the work, the occurrence of such delays shall in no event postpone the date for the commencement of the payment of Rent for such Substitution Space beyond the date on which such work would have been substantially completed but for such delays, and in addition, Tenant shall continue to pay Rent for the present Premises as set forth in this Lease until it vacates and surrenders same as aforesaid. Landlord at its discretion may substitute materials of like quality for the materials originally utilized.
26.5 If Landlord relocates Tenantexercises this relocation right after the Commencement Date, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment (including computer equipment), supplies and supplies telephones and telephone equipment from the present Premises to the relocation space Substitution Space and for reprinting Tenant's stationery of the same quality and quantity as of Tenant's stationery supply on hand immediately before prior to Landlord's notice to Tenant of the exercise of this relocation substitution right.
26.6 Notwithstanding anything above to the contrary, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, event the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (i) if the rentable area Net Rentable Area of the relocation space Substitution Space is smaller greater than rentable area the Net Rentable Area of the Premises, then Tenant Tenant's Share and Base Rent shall be entitled proportionately adjusted (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share but shall not be modified in any wayincreased by more than five percent (5%).
Appears in 1 contract
Sources: Assignment and Assumption Agreement (BofI Holding, Inc.)
Substitution Space. Upon at least sixty (60) days' prior written notice, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment and supplies from the Premises to the relocation space and for reprinting Tenant's stationery Effective as of the same quality Substitution Effective Date (defined below), the Substitution Space is substituted for the Original Premises and, from and quantity after the Substitution Effective Date, the “Premises”, as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided defined in the Premises under this Lease. Upon such relocationLease and as used herein, the relocation space shall be deemed to mean the Substitution Space containing approximately 6,495 rentable square feet and described as Suite No. 31 of the Building.
(b) Subject to Section 8 below, the Term (“Substitution Space Term”) for the Substitution Space shall commence on February 1, 2007 (the “Substitution Effective Date”) and end on the Extended Termination Date (defined below). The Substitution Space is subject to all the terms and conditions of the Lease except as expressly modified herein and except that Tenant shall not be entitled to receive any allowances, abatements or other financial concessions granted with respect to the Original Premises unless such concessions are expressly provided for herein with respect to the Substitution Space. Effective as of the Substitution Effective Date, the Lease shall be terminated with respect to the Original Premises, and the terms of this “Premises”, as defined in the Lease and as used herein shall remain in full force and mean the Substitution Space. Tenant shall apply to vacate the relocation space; provided, however, that (i) if the rentable area Original Premises as of the relocation space date that is smaller not later than rentable area seventy-five (75) days following the Substitution Effective Date (such date that Tenant is required to vacate the Original Premises being referred to herein as the “Original Premises Vacation Date”) and return the same to Landlord in “broom clean” condition and otherwise in accordance with the terms and conditions of the PremisesLease, then as amended hereby; provided however that in the event that Tenant is delayed in occupying in Substitution Space due to a Force Majeure Event (defined below), Tenant shall be entitled to delay the Original Premises Vacation Date for a period not to exceed thirty (from 30) days so long as Tenant provides Landlord with written notice of the need for such delay and after the relocation date) documentation reasonably satisfactory to a reduction in Base Rent in proportion Landlord evidencing such Force Majeure Event prior to the reduction in expiration of such seventy-five (75) day period. Notwithstanding anything to the rentable area contrary contained herein, if the Original Premises Vacation Date is subsequent to the Substitution Effective Date (such period commencing on the Substitution Effective Date and ending on the Original Premises Vacation Date is referred to herein as the “Vacation Period”), then during the Vacation Period, Tenant shall comply with all terms and provisions of the PremisesLease, as amended hereby, with a corresponding reduction in Tenant's Proportionate Share and (ii) if respect to the rentable area Original Premises as though the Original Premises were still deemed part of the relocation space is larger Premises hereunder, and Tenant shall pay Rent with respect to the Original Premises during the Vacation Period in accordance with the Lease, as amended hereby. Following the Vacation Period, Tenant’s obligation for payment of Rent shall be determined in accordance with Section 12 below. As used herein, a “Force Majeure Event” shall mean an act of God, shortage of labor or materials, war, terrorist act or civil disturbance; provided that a delay cause by a Force Majeure Event shall not include any delay in obtaining any permits or other governmental approvals with respect to the Substitution Space and/or the Tenant Improvements (as defined in Exhibit B attached hereto). Tenant shall provide Landlord with not less than the rentable area ten (10) business days’ prior written notice of the Premises, then date Tenant reasonably anticipates that Tenant will vacate the Base Rent and Tenant's Proportionate Share shall not be modified in any wayOriginal Premises pursuant to this Section 1(b).
Appears in 1 contract
Substitution Space. Upon (a) Landlord shall have the right once during the first twenty-four months of this Lease, including during any renewal or extension hereof, to substitute, instead of the Premises, other space of reasonably comparable size no more than 10% greater or smaller and in the same quality, character, visibility, and ability to accommodate Tenant’s number of employees and furniture and buildout in the Building, hereinafter referred to as “Substitution Space.”
(b) If Landlord desires to exercise such right, it shall give Tenant at least sixty (60) days' days prior written noticenotice thereof specifying the effective date of such substitution, Landlord may relocate Tenant within whereupon, as of such effective date: (i) the Project (or to any other facility owned by Landlord within the vicinity description of the ProjectPremises set forth in this Lease shall, without further act on the part of Landlord or Tenant, be deemed amended so that the Substitution Space shall, for all intents and purposes, be deemed the Premises hereunder, and all of the terms, covenants, conditions, provisions and agreements of this Lease shall continue in full force and effect and shall apply to the Substitution Space; and (ii) Tenant shall move from the Premises into the Substitution Space and shall vacate and surrender possession to space which is comparable in sizeLandlord of the Premises on and after such effective date; thereafter, utility and condition during the period of such occupancy, Tenant shall pay rent for the Substitution Space at the above-described rate, whereupon rent shall ▇▇▇▇▇ entirely with respect to the Premises. .
(c) If Landlord relocates Tenantexercises its relocation right, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket expenses for moving Tenant's ’s furniture, equipment, supplies, and telephones and telephone equipment and supplies from the presently leased Premises to the relocation space Substitution Space and for reprinting Tenant's ’s stationery of the same quality and quantity as of Tenant's stationery ’s stationary supply on hand immediately before prior to Landlord's ’s notice to Tenant of the exercise of this relocation right.
(d) Notwithstanding the foregoing, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide in no event shall Tenant’s Basic Rent or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (i) Tenant’s Proportionate Share increase if the rentable area of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space Substitution Space is larger than the rentable area of the Premises; however, then the Base Tenant’s Basic Rent and Tenant's ’s Proportionate Share shall not be modified decrease (based on the rentable square footage in any waythe Substitution Space if same is smaller than the Premises.
Appears in 1 contract
Sources: Deed of Lease (Urgent.ly Inc.)
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord’s expense, Landlord may relocate Tenant within the Project (Building or to any other facility owned by Landlord within the vicinity of the Project) , as applicable, to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket expenses for moving Tenant's ’s furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's ’s stationery of the same quality and quantity as Tenant's ’s stationery supply on hand immediately before Landlord's ’s notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this the Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within ten (i10) Business Days after Landlord’s written request therefor. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the rentable area of time period stated in Landlord’s relocation notice to Tenant (or, if such relocation space is not available on the date specified in Landlord’s relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then Landlord may terminate this Lease by notifying Tenant in writing thereof at least sixty (60) days prior to the termination date contained in Landlord’s termination notice. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way’s obligations under this Section.
Appears in 1 contract
Sources: Office Lease Agreement
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord's expense, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) Building to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's stationery of the same quality and quantity as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this the Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within ten business days after Landlord's written request therefor. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the time period stated in Landlord's relocation notice to Tenant (i) or, if such relocation space is not available on the rentable area of date specified in Landlord's relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then, in addition to Landlord's other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant in writing thereof at least 60 days prior to the termination date contained in Landlord's termination notice. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any wayobligations under this Section.
Appears in 1 contract
Sources: Lease Agreement (Cardionet Inc)
Substitution Space. Upon 26.01 Landlord shall have the right at any time prior to the end of the Term of this lease, or any renewal or extension hereof, to substitute, instead of the Premises, other space within the Building (which space shall have a Net Rentable Area of approximately the Net Rentable Area in the Premises as of the date of such substitution) hereinafter called the "Substitution Space".
(a) If Landlord desires to exercise such right, Landlord shall give Tenant at least sixty thirty (6030) days' prior written noticenotice thereof specifying the effective date of such substitution, Landlord may relocate Tenant within whereupon, as of such effective date: (1) the Project (or to any other facility owned by Landlord within the vicinity description of the Project) Premises set forth in this lease shall, without further act on the part of Landlord or Tenant, be deemed amended so that the Substitution Space shall, for all purposes, be deemed the Premises hereunder, and all of the terms, covenants, conditions, provisions, and agreements of this Lease, including those agreements to space which is comparable pay Rent, shall continue in size, utility full force and condition effect and shall apply to the Substitution Space, and (2) Tenant shall move into the Substitution Space.
(b) If Tenant is being relocated from its present Premises in the Building, Tenant shall vacate and surrender possession to Landlord of the present Premises. , and if Tenant continues to occupy the present Premises after such effective date, then thereafter, during the period of such occupancy, Tenant shall pay Rent for the present Premises as set forth in this Lease, in addition to the Rent for the Substitution Space at the above-described rates.
(c) Tenant shall accept possession of the Substitution Space in its "as-is" condition as of such effective date, but the Substitution Space shall have leasehold improvements that are reasonably equivalent to the present Premises.
26.03 If Landlord relocates Tenantexercises this relocation right after the Commencement Date, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment, supplies and telephones and telephone equipment and supplies from the present Premises to the relocation space Substitution Space and for reprinting Tenant's stationery of the same quality and quantity as of Tenant's stationery supply on hand immediately before prior to Landlord's notice to Tenant of the exercise of this relocation substitution right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (i) if the rentable area of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way.
Appears in 1 contract
Substitution Space. Upon (a) Landlord shall have the right at any time during the term of this Lease, including during any renewal or extension hereof, to substitute, instead of the Premises, other space of reasonably comparable size and decor in the Building, hereinafter referred to as "Substitution Space."
(b) If Landlord desires to exercise such right, it shall give Tenant at least sixty thirty (6030) days' days prior written noticenotice thereof specifying the effective date of such substitution, Landlord may relocate Tenant within whereupon, as of such effective date: (i) the Project (or to any other facility owned by Landlord within the vicinity description of the Project) to space which is comparable Premises set forth in sizethis Lease shall, utility without further act on the part of Landlord or Tenant, be deemed amended so that the Substitution Space shall, for all intents and condition purposes, be deemed the Premises hereunder, and all of the terms, covenants, conditions, provisions and agreements of this Lease shall continue in full force and effect and shall apply to the Premises. Substitution Space; and (ii) Tenant shall move from the Premises into the Substitution Space and shall vacate and surrender possession to Landlord of the Premises on and after such effective date; thereafter, during the period of such occupancy, Tenant shall pay rent for the Substitution Space at the above-described rate, whereupon rent shall abate entirely with respect to the ▇▇▇▇▇ses.
(c) If Landlord relocates Tenantexercises its relocation right, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment, supplies and telephones and telephone equipment and supplies from the presently leased Premises to the relocation space Substitution Space and for reprinting Tenant's stationery of the same quality and quantity as of Tenant's stationery stationary supply on hand immediately before prior to Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (i) if the rentable area of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way.
Appears in 1 contract
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord's expense, Landlord may relocate Tenant within the Project (Building or to any other facility owned by Landlord within the vicinity of the Project) Complex to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's stationery of the same quality and quantity as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within ten business days after Landlord's written request therefor. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the time period stated in Landlord's relocation notice to Tenant (i) or, if such relocation space is not available on the rentable area of date specified in Landlord's relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then, in addition to Landlord's other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant in writing thereof at least 60 days prior to the termination date contained in Landlord's termination notice. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any wayobligations under this Section.
Appears in 1 contract
Sources: Lease Agreement (Cirtran Corp)
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord’s expense, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) Complex to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket expenses for moving Tenant's ’s furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's ’s stationery of the same quality and quantity as Tenant's ’s stationery supply on hand immediately before Landlord's ’s notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within ten business days after Landlord’s written request therefor. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the time period stated in Landlord’s relocation notice to Tenant (i) or, if such relocation space is not available on the rentable area of date specified in Landlord’s relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then, in addition to Landlord’s other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant in writing thereof at least 60 days prior to the termination date contained in Landlord’s termination notice. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way’s obligations under this Section.
Appears in 1 contract
Sources: Lease Agreement (Energytec Inc)
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord’s expense, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket expenses for moving Tenant's ’s furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's ’s stationery of the same quality and quantity as Tenant's ’s stationery supply on hand immediately before Landlord's ’s notice to Tenant of the exercise of this relocation right. Landlord shall use commercially reasonable efforts to minimize the disruption to Tenant’s business operations as a result of such relocation, and (b) improve Landlord shall coordinate and manage the relocation space logistical efforts involved with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Leasesuch relocation. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided. Notwithstanding the foregoing, however, that (i) if the rentable area of the relocation space is smaller than rentable area of the Premises, then Tenant shall Basic Rent will be entitled (from and after adjusted to reflect the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) same; if the rentable area of the relocation space is larger than the rentable area Premises, Basic Rent will not be adjusted to reflect the larger size of the Premisesrelocation space and Tenant will continue to pay monthly Basic Rent in the amounts set forth in this Lease for the remainder of the then-current Term. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; however, then if requested by Landlord, Tenant shall execute an appropriate amendment document within ten business days after Landlord’s written request therefor. If Tenant fails to (a) execute such relocation amendment within such time period or (b) relocate to the Base Rent relocation space within three business days following the date stated in Landlord’s relocation notice to Tenant (or, if such relocation space is not available on the date specified in Landlord’s relocation notice, within three business days following the date on which such relocation space becomes available and is tendered to Tenant in the condition required by this Lease), then, in addition to Landlord’s other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant in writing thereof, which notice shall contain a termination effective date selected by Landlord no less than five business days following the date of Landlord’s termination notice to Tenant's Proportionate Share shall not be modified in any way. Time is of the essence with respect to Tenant’s obligations under this Section.
Appears in 1 contract
Sources: Lease Agreement (Mimecast LTD)
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord’s expense, Landlord may relocate Tenant within the Project (Building space on the eighth floor or to any other facility owned by Landlord within the vicinity of the Project) to space a higher floor which is comparable in location within the Building (excluding the floor on which the Premises is located), size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket pocked expenses for moving Tenant's ’s furniture, equipment equipment, and supplies from the Premises to the relocation relocations space and for reprinting Tenant's ’s stationery of the same quality and quantity as Tenant's ’s stationery supply on hand immediately before Landlord's ’s notice to Tenant of the exercise of this relocation right, right and (b) improve shall ▇▇▇▇▇ Basic Rent payable to Landlord pursuant to this Lease for the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in first 60 days after the Premises under this Leasedate of such relocation. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within ten business days after Landlord’s written request therefore. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the time period stated in Landlord’s relocation notice to Tenant (i) or, if such relocation space is not available on the rentable area of date specified in Landlord’s relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then, in addition to Landlord’s other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant in writing thereof at least 60 days prior to the termination date contained in Landlord’s termination notice. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way’s obligations under this Section.
Appears in 1 contract
Substitution Space. Upon at least sixty (60) days' prior written noticeAt any time following the Lease Date, Landlord may may, at Landlord’s expense, relocate Tenant within the Project or any related complex (or to any other facility owned by Landlord within including, without limitation, the vicinity of the Projectbuilding located at ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, commonly known as 4110 Old Town) to space which is comparable in size, utility and condition to the Premises. If Landlord relocates TenantTenant after Tenant has occupied the Premises, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket expenses for moving Tenant's ’s furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's ’s stationery of the same quality and quantity as Tenant's ’s stationery supply on hand immediately before Landlord's ’s notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within ten business days after ▇▇▇▇▇▇▇▇’s written request therefor. If Tenant fails to (ia) if the rentable area of execute such relocation amendment within such time period or (b) relocate to the relocation space is smaller than rentable area of within three business days following the Premisesdate stated in Landlord’s relocation notice to Tenant (or, then Tenant shall be entitled (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the such relocation space is larger not available on the date specified in Landlord’s relocation notice, within three business days following the date on which such relocation space becomes available and is tendered to Tenant in the condition required by this Lease), then, in addition to Landlord’s other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant in writing thereof, which notice shall contain a termination effective date selected by Landlord no less than five business days following the rentable area date of Landlord’s termination notice to Tenant. Time is of the Premises, then the Base Rent and essence with respect to Tenant's Proportionate Share shall not be modified in any way’s obligations under this Section.
Appears in 1 contract
Substitution Space. Upon Section 26.1 Landlord shall have the right at any time prior to the end of the Term of this lease, or any renewal or extension hereof, to substitute, instead of the Premises, other space within the Building, or other buildings within the Office Park (which space shall have a Net Rentable Area of not less than the Net Rentable Area in the Premises as of the date of such substitution) hereinafter called the “Substitution Space”. If Landlord desires to exercise this right but, in Landlord’s reasonable opinion there is no suitable Substitution Space then available in the Office Park, Landlord shall have the right to terminate this Lease by written notice to Tenant on a date specified by Landlord which date shall not be sooner than one hundred twenty (120) days after the date of Landlord’s notice to Tenant.
Section 26.2 If Landlord desires to exercise such right prior to the Commencement Date, Landlord shall give written notice thereof to Tenant not later than thirty (30) days prior to the effective date of such substitution, which notice shall specify the Substitution Space in question and the description of the Premises set forth in the lease shall, without further act on the part of Landlord or Tenant be deemed amended so that the Substitution Space shall, for all purposes, be deemed the Premises hereunder and all of the terms, covenants, conditions, provisions, and agreements of this lease, including those agreements to pay Rent, shall continue in full force and effect and shall apply to the Substitution Space. The Leasehold Improvements in the Substitution Space shall be completed in the manner set forth in Exhibit C of the lease, and the costs thereof shall be allocated between Landlord and Tenant as described therein; provided, however, that if prior to Landlord’s notice of its election to substitute the Substitution Space for the Premises, Tenant has reasonably incurred costs or expenses in connection with planning or construction of the Leasehold Improvements in the original Premises and Tenant is (i) unable to use the plans or materials in question in connection with the Leasehold improvements in the Substitution Space or (ii) unable to cancel orders for or return the materials in question for credit, Landlord shall reimburse Tenant for such costs and expenses (net of all applicable credits) upon presentation by Tenant of appropriate invoices and other substantiating materials therefor in form reasonably acceptable to Landlord.
Section 26.3 If Landlord desires to exercise such right after the Commencement Date, Landlord shall give Tenant at least sixty (60) days' ’ prior written noticenotice thereof specifying the effective date of such substitution, whereupon; as of such effective date: (a) the description of the Premises set forth in this lease shall without further act on the part of Landlord may relocate or Tenant, be deemed amended so that the Substitution Space shall, for all purposes, be deemed the Premises hereunder, and all of the terms, covenants, conditions, provisions, and agreements of this Lease, including those agreements to pay Rent, shall continue in full force and effect and shall apply to the Substitution Space, and (b) Tenant shall move from the present Premises into the Substitution Space and shall vacate and surrender possession to Landlord of the present Premises, and if Tenant continues to occupy the present Premises after such effective date, then thereafter; during the period of such occupancy, Tenant shall pay Rent for the present Premises as set forth in this Lease, in addition to the Rent for the Substitution Space at the above-described rates. Tenant shall accept possession of the Substitution Space in its “as-is” condition as of such effective date.
Section 26.4 Notwithstanding the provisions of Section 26.3 above, if Landlord exercises its right to substitute the Substitution Space for the Premises after the Commencement Date, then Tenant shall have the option to require Landlord to alter the Substitution Space in the same manner as the present Premises were finished out or altered pursuant to the Lease. Such option shall be exercised, if at all, by notice from Tenant to Landlord within fifteen (15) days after the Project aforesaid notice from Landlord to Tenant of such proposed substitution; otherwise, such option in favor of Tenant shall be null and void. Tenant shall not have the right to exercise such option at any time when Tenant is in default under any of the terms, covenants, conditions, provisions, or agreements of this Lease. If such option is validly so exercised by Tenant: (or a) Tenant shall continue to any other facility owned occupy the present Premises (upon all of the terms, covenants, conditions, provisions, and agreements of this Lease, including the covenant for the payment of Rent) until the date on which Landlord shall have substantially completed such alteration work in the Substitution Space; and (b) Tenant shall move from the present Premises into the Substitution Space immediately upon the date of such substantial completion by Landlord within the vicinity and shall vacate and surrender possession to Landlord of the Project) to space which is comparable present Premises after such date, then, thereafter during the period of such occupancy Tenant shall pay Rent for the present Premises as set forth in size, utility and condition this lease in addition to the PremisesRent for the Substitution Space at the above-described rates. With respect to such alteration work in the Substitution Space, if Tenant request materials or installations other than those originally installed by Landlord, or if Tenant shall make changes in the work (such non-original materials or installations or changes being subject to Landlord’s prior written approval), and if such non-original materials or installations or changes shall delay the work to be performed by Landlord, or if Tenant shall otherwise delay the substantial completion of the work, the occurrence of such delays shall in no event postpone the date for the commencement of the payment of Rent for such Substitution Space beyond the date on which such work would have been substantially completed but for such delays, and in addition, Tenant shall continue to pay Rent for the present Premises as set forth in this Lease until it vacates and surrenders same as aforesaid. Landlord at its discretion may substitute materials of like quality for the materials originally utilized.
Section 26.5 If Landlord relocates Tenantexercises this relocation right after the Commencement Date, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket expenses for moving Tenant's ’s furniture, equipment, supplies and telephones and telephone equipment and supplies from the present Premises to the relocation space Substitution Space and for reprinting Tenant's ’s stationery of the same quality and quantity as of Tenant's ’s stationery supply on hand immediately before prior to Landlord's ’s notice to Tenant of the exercise of this relocation substitution right. Tenant shall also be reimbursed by Landlord for the Tenant’s unamortized cost of Leasehold Improvements, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided if any, installed in the original Premises under at Tenant’s expense.
Section 26.6 Notwithstanding the foregoing provisions of this LeaseArticle 26, instead of relocating the Premises to Substitution Space, Landlord may terminate this Lease upon no less than ninety (90) days written notice to Tenant. Upon On the effective date of such relocationtermination, the relocation space obligations of Landlord and Tenant under the Lease, including Tenant’s obligation to pay Rent, shall be deemed to be terminate, except for those matters which expressly survive the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (i) if the rentable area expiration or earlier termination of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any wayLease.
Appears in 1 contract
Substitution Space. Upon at least sixty (60) days' ’ prior written notice, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment and supplies from the Premises to the relocation space and for reprinting Tenant's stationery of the same quality and quantity as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (i) if the rentable area of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way.
Appears in 1 contract
Sources: Office Lease (Avi Biopharma Inc)
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord's expense, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's stationery of the same quality and quantity as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within ten business days after Landlord's written request therefor. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the time period stated in Landlord's relocation notice to Tenant (i) or, if such relocation space is not available on the rentable area of date specified in Landlord's relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then, in addition to Landlord's other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant in writing thereof at least 60 days prior to the termination date contained in Landlord's termination notice. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any wayobligations under this Section.
Appears in 1 contract
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord’s expense, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) Building to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket expenses for moving Tenant's ’s furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's ’s stationery of the same quality and quantity as Tenant's ’s stationery supply on hand immediately before Landlord's ’s notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within fifteen (i15) business days after Landlord’s written request therefor. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the rentable area of time period stated in Landlord’s relocation notice to Tenant (or, if such relocation space is not available on the date specified in Landlord’s relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then Landlord may terminate this Lease by notifying Tenant in writing thereof at least sixty (60) days prior to the termination date contained in Landlord’s termination notice and Tenant shall have no further obligations under this Lease. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way’s obligations under this Section.
Appears in 1 contract
Sources: Lease Agreement (Cleanspark, Inc.)
Substitution Space. Upon at least sixty (60) days' prior written notice, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment and supplies from the Premises to the relocation space and for reprinting Tenant's stationery of the same quality and quantity as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with Short Form Office - Net Lease (CA) -7- Version 10.1 improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (i) if the rentable area of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way.
Appears in 1 contract
Sources: Office Lease (Account4 Com Inc)
Substitution Space. Upon 22.1 From time to time during the Term, Landlord may substitute for the Premises other space that has an area at least equal to that of the Premises and is located in the Building or in any other comparable building managed by Landlord or an affiliate of Landlord (the "Substitution Space").
22.2 If Landlord exercises such right by giving Tenant notice thereof ("Substitution Notice") at least sixty (60) days' prior written noticedays before the effective date of such substitution, Landlord may relocate Tenant within then (i) the Project (or to any other facility owned by Landlord within the vicinity description of the Project) to space which is comparable in size, utility and condition to Premises shall be replaced by the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment and supplies from the Premises to the relocation space and for reprinting Tenant's stationery description of the same quality Substitution Space; and quantity as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant (ii) all of the exercise of this relocation right, terms and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms conditions of this Lease shall remain in full force and shall apply to the relocation space; provided, however, Substitution Space except that (iA) if the rentable area then unexpired balance of the relocation space is smaller Lease Term shall be less than rentable area of the Premisesone (1) year, then Tenant the Lease Term shall be entitled extended so that it shall be one (1) year from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the PremisesSubstitution Commencement Date (defined below), with a corresponding reduction in Tenant's Proportionate Share and (iiB) if the rentable area of the relocation space is larger Substitution Space contains more square footage than the rentable area of the Premises, then the Base Rent Rental then in effect shall be increased proportionately (provided that such increase shall not exceed 105% of the Base Rental due for the Premises) and Tenantshall be subject to adjustment as herein provided. The effective date of such substitution (the "Substitution Commencement Date") shall be the date specified in the Substitution Notice or, if Landlord is required to perform tenant finish work to the Substitution Space under this Article, then the date on which Landlord substantially completes such tenant finish work. If Landlord is delayed in performing the tenant finish work by ▇▇▇▇▇▇'s Proportionate Share actions (either by ▇▇▇▇▇▇'s change in the plans and specifications for such work or otherwise), then the Substitution Commencement Date shall not be modified extended and Tenant shall pay rent for the Substitution Space beginning on the date specified in any waythe Substitution Notice.
22.3 Tenant may either accept possession of the Substitution Space in its "as is" condition as of the Substitution Commencement Date or require Landlord to alter the Substitution Space in the same manner as the Premises were altered or were to be altered. Tenant shall deliver to Landlord written notice of its election within ten (10) days after the Substitution Notice has been delivered to Tenant. If Tenant fails to timely deliver notice of its election or if an Event of Default then exists, then Tenant shall be deemed to have elected to accept possession of the Substitution Space in its "as is" condition. If Tenant timely elects to require Landlord to alter the Substitution Space, then (i) notwithstanding Section 22.2, if the then unexpired balance of the Term is less than three (3) years, then the Term shall be extended so that it continues for three (3) years from the Substitution Commencement Date, and (ii) Tenant shall continue to occupy the Premises (upon all of the terms of this Lease) until the Substitution Commencement Date.
22.4 Tenant shall move from the Premises into the Substitution Space and shall surrender possession of the Premises as provided in Section 20.1
Appears in 1 contract
Sources: Office Lease (Phymed Inc)
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord’s expense, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) to space which that is comparable in size, utility and condition to the Premises. Such comparable space shall also have exterior views that are reasonably comparable to those of the Premises, and Landlord shall at Landlord’s sole cost and expense, cause the comparable space to be improved with tenant improvements at least equal in quality to those in the Premises. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket expenses for moving Tenant's ’s furniture, equipment equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's ’s stationery of the same quality and quantity as Tenant's ’s stationery supply on hand immediately before Landlord's ’s notice to Tenant of the exercise of this relocation right, as well as commercially reasonable costs actually paid by Tenant to third parties for making changes to Tenant’s address on its online presence, including without limitation its website, online portals, and social media profiles. Landlord shall give Tenant not less than six (b6) improve month’s prior written notice of any such relocation. In the event of such a relocation, if the comparable space contains less rentable square footage than the then-existing Premises, Tenant’s rental obligations with respect to the comparable space shall be proportionately reduced to reflect such smaller rentable square footage (including, without limitation, an appropriate reduction of the Tenant’s Proportionate Share). In no event shall Tenant’s Rent be increased unless Tenant has requested a space larger than the Premises at the time of notice of relocation space or unless Tenant has then currently been in negotiations with improvements substantially similar to those Landlord is committed to provide or has provided for expansion space. In addition, in the event that as of the date of Landlord’s notice of such relocation to Tenant, or as of the date of the proposed relocation of the Premises, the Premises comprises seventy-five percent (75%) or more of the rentable square footage of the Building, then Landlord shall no right under the terms of this LeaseSection 23 to relocate the Premises. Upon such relocation, the relocation space shall be deemed to be the Premises Premises, and the terms of this Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section 23; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within fifteen (i15) days after Landlord’s written request therefor. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the rentable area of time period stated in Landlord’s relocation notice to Tenant (or, if such relocation space is not available on the date specified in Landlord’s relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then, in addition to Landlord’s other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant thereof at least sixty (60) days prior to the termination date contained in Landlord’s termination notice. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way’s obligations under this Section 23.
Appears in 1 contract
Sources: Lease Agreement (Glu Mobile Inc)
Substitution Space. Upon Landlord may, at least sixty (60) days' prior written noticeLandlord’s expense, Landlord may relocate Tenant within the Project (or to any other facility owned by Landlord within the vicinity of the Project) Building to space which that is comparable in size, utility and condition (including finishes reasonably approved by Tenant) to the PremisesPremises with at least ninety (90) days prior written notice. If Landlord relocates Tenant, Landlord shall (a) reimburse Tenant for Tenant's ’s reasonable out-of-pocket expenses for moving Tenant's ’s furniture, equipment equipment, cabling, servers, and supplies from the Premises to the relocation space and for reprinting Tenant's ’s stationery of the same quality and quantity as Tenant's ’s stationery supply on hand immediately before Landlord's ’s notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises Premises, and the terms of this Lease shall remain in full force and shall apply to the relocation space with the exception that the relocation space’s total Rent shall not be in excess of that of the original Premises. No amendment or other instrument shall be necessary to effectuate the relocation contemplated by this Section 23; provided, however, that if requested by Landlord, Tenant shall execute an appropriate amendment document within fifteen (i15) business days after Landlord’s written request therefor. If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the rentable area of time period stated in Landlord’s relocation notice to Tenant (or, if such relocation space is not available on the date specified in Landlord’s relocation notice, as soon thereafter as the relocation space becomes available and is smaller than rentable area tendered to Tenant in the condition required by this Lease), then, in addition to Landlord’s other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant thereof at least ninety (90) days prior to the termination date contained in Landlord’s termination notice. Time is of the Premises, then Tenant shall be entitled (from and after the relocation date) essence with respect to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way’s obligations under this Section 23.
Appears in 1 contract
Sources: Lease Agreement (Hipcricket, Inc.)
Substitution Space. Upon (a) From time to time during the Term, Landlord may substitute for any portion of the Premises which is located on a floor in the Building (other than the first floor) that is not wholly occupied by Tenant and which partial floor leased by Tenant contains less than 15,000 rentable square feet (the "REPLACED SPACE") other space that has an area at least equal to and is of comparable quality to the Replaced Space and is located in the Building (the "SUBSTITUTION SPACE").
(b) If Landlord exercises such right by giving Tenant notice thereof ("SUBSTITUTION NOTICE") at least sixty (60) days' prior written noticedays before the effective date of such substitution, Landlord may relocate Tenant within then (1) the Project (or to any other facility owned by Landlord within the vicinity description of the ProjectPremises shall be amended to reflect the inclusion of the Substitution Space; and (2) to space which is comparable in size, utility all of the terms and condition conditions of this Lease shall apply to the PremisesSubstitution Space except that if the Substitution Space contains more square footage than the Replaced Space, then the Basic Rental then in effect shall be increased proportionately (provided that such increase shall not exceed one hundred five percent (105%) of the Basic Rental due for the Replaced Space) and shall be subject to adjustment as herein provided. The effective date of such substitution (the "SUBSTITUTION EFFECTIVE DATE") shall be the date specified in the Substitution Notice or, if Landlord is required to perform tenant finish work to the Substitution Space under Section 24.(c), then the date on which Landlord substantially completes such tenant finish work. If Landlord relocates is delayed in performing the tenant finish work by ▇▇▇▇▇▇'s actions (either by ▇▇▇▇▇▇'s change in the plans and specifications for such work or otherwise), then the Substitution Effective Date shall not be extended and Tenant shall pay Rent for the Substitution Space beginning on the date specified in the Substitution Notice.
(c) Tenant may either accept possession of the Substitution Space in its "as is" condition as of the Substitution Effective Date or require Landlord to alter the Substitution Space in the same manner as the Premises were altered or were to be altered. Tenant shall deliver to Landlord written notice of its election within ten (10) days after the Substitution Notice has been delivered to Tenant. If Tenant fails to timely deliver notice of its election or if an Event of Default then exists, then Tenant shall be deemed to have elected to accept possession of the Substitution Space in its "as is" condition.
(d) Tenant shall move from the Replaced Space into the Substitution Space and shall surrender possession of the Replaced Space as provided in Section 21 by the Substitution Effective Date. If Tenant occupies the Replaced Space after the Substitution Effective Date, then Tenant's occupancy of the Replaced Space shall be a tenancy at will (and, without limiting all other rights and remedies available to Landlord, including instituting a forcible detainer suit), Tenant shall pay Basic Rental for the Replaced Space as provided in Section 22 and all other Rent due therefor until such occupancy ends; such amounts shall be in addition to the Rent due for the Substitution Space.
(e) If Landlord exercises its substitution right, then Landlord shall (a) reimburse Tenant for Tenant's reasonable out-of-pocket expenses for moving Tenant's furniture, equipment, supplies and telephone equipment and supplies from the Premises Replaced Space to the relocation space Substitution Space and for reprinting Tenant's stationery of the same quality and quantity as of Tenant's stationery supply on hand immediately before prior to Landlord's notice to Tenant of the exercise of this relocation right, and (b) improve the relocation space with improvements substantially similar to those Landlord is committed to provide or has provided in the Premises under this Lease. Upon such relocation, the relocation space shall be deemed to be the Premises and the terms of this Lease shall remain in full force and shall apply to the relocation space; provided, however, that (i) if the rentable area of the relocation space is smaller than rentable area of the Premises, then Tenant shall be entitled (from and after the relocation date) to a reduction in Base Rent in proportion to the reduction in the rentable area of the Premises, with a corresponding reduction in Tenant's Proportionate Share and (ii) if the rentable area of the relocation space is larger than the rentable area of the Premises, then the Base Rent and Tenant's Proportionate Share shall not be modified in any way.
Appears in 1 contract