Term Commencement Date. For purposes of this Lease, the "Term Commencement Date" shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completed.
Appears in 2 contracts
Samples: Lease Agreement (Lincoln National Corp), Lease Agreement (Lincoln National Corp)
Term Commencement Date. The date that the Premises are Ready For purposes Occupancy (as defined in Exhibit D attached hereto), which Term Commencement Date is anticipated to be August 1, 2015. In the event Landlord fails to deliver the Premises to Tenant with the Tenant Improvements Substantially Complete on or before November 1, 2015 ("First Outside Date") as such First Outside Date shall be extended due to Force Majeure delays and Tenant Delays, Tenant will be entitled to one day of this Leasefree Monthly Base Rent, to be applied after the "Term Commencement Date" shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion such First Outside Date that Landlord's Work the Premises are not delivered to Tenant as required hereunder. In the event fails to deliver the Premises to Tenant with the Tenant Improvements Substantially Complete on or before December 1, 2015 ("Second Outside Date"), as such Second Outside Date shall not be deemed extended due to Force Majeure delays and Tenant Delays, Tenant may terminate this Lease by delivery of written notice to Landlord no later than that date which is five (5) business days after such Second Outside Date, in which case Landlord will immediately refund all amounts paid by Tenant pursuant to this Lease and Tenant shall have been substantially completedno further obligations to Landlord pursuant to this Lease except for those obligations which expressly survive the expiration or sooner termination of this Lease.
Appears in 2 contracts
Samples: Lease (Mabvax Therapeutics Holdings, Inc.), Lease (Mabvax Therapeutics Holdings, Inc.)
Term Commencement Date. For purposes A. The date that Sublandlord delivers possession of the Additional Subleased Premises to Subtenant shall be the “Delivery Date.” It is presently anticipated, but not guaranteed, that Sublandlord will deliver possession of the Additional Subleased Premises to Subtenant on or before July 18, 2015 (the “Estimated Delivery Date”). Sublandlord agrees to use commercially reasonable efforts to obtain timely possession of the Additional Subleased Premises from the current occupant. If delivery of possession is delayed or does not otherwise occur by the Estimated Delivery Date, this LeaseSecond Amendment shall not be void or voidable (except as set forth below), nor shall Sublandlord be liable to Subtenant for any loss or damage resulting therefrom. Notwithstanding anything to the contrary set forth in this Second Amendment, in the event Sublandlord is unable to deliver the Additional Subleased Premises to Subtenant by January 1, 2016, Subtenant shall have the right to terminate this Second Amendment by providing Sublandlord with written notice within ten (10) business days of such date.
B. Commencing on the Delivery Date and continuing thereafter until the Additional Subleased Premises Commencement Date (as defined below), Subtenant may access the Additional Subleased Premises solely for the purpose of preparing the Additional Subleased Premises for Subtenant’s occupancy (including the installation of telecommunications wiring, cabling and furniture), without the payment of Base Rent or Additional Rent, provided that all other provisions of the Sublease shall be in full force and effect.
C. Subject to the provisions of Section 4.A above, the "Term Commencement Date" of the Sublease for the Additional Subleased Premises (“Additional Subleased Premises Term”) shall be defined as commence on the earlier of (Ai) forty-five (45) days following the first date on which Tenant occupies all or any part of the Premises for the conduct of businessDelivery Date, or (Bii) fourteen (14) days after the date on which both that Subtenant commences business operations from the Additional Subleased Premises (the “Additional Subleased Premises Commencement Date”). The Additional Subleased Premises Term shall expire simultaneously with the expiration of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises Term for the purposes allowed hereinOriginal Subleased Premises under the Original Sublease.
D. Following the Additional Subleased Premises Commencement Date, Sublandlord may prepare and deliver to Subtenant a commencement letter in the form of Exhibit B attached hereto (z) finishes and exterior landscaping to the Property“Commencement Letter”), confirming the Additional Subleased Premises Commencement Date, the Base Rent payable for the Additional Subleased Premises Term and (ii) a certificate of occupancy has been (or is deemed to have been) issued certain other sublease terms with respect to the Additional Subleased Premises. Subtenant shall acknowledge and confirm the Additional Subleased Premises Commencement Date and other sublease terms by executing a copy of the Commencement Letter and returning it to Sublandlord within ten (or 10) business days after Subtenant’s receipt of the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course)Commencement Letter. If Tenant Subtenant fails to sign and return the Commencement Letter to Sublandlord within such ten (or any agent10) business day period, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, Commencement Letter as sent by failing to timely prepare the Construction Drawings), then Landlord's Work Sublandlord shall be deemed to have been substantially completed on correctly set forth the date that Landlord's Work would have been substantially completed but for such delay, Additional Subleased Premises Commencement Date and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided other matters addressed in the second paragraph of Section 10.22, Commencement Letter. Sublandlord’s failure to send the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord Commencement Letter shall have no liability to Tenant, if Landlord's Work is not substantially completed by effect on the Estimated Substantial Completion Additional Subleased Premises Commencement Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completed.
Appears in 2 contracts
Samples: Sublease, Sublease (Appian Corp)
Term Commencement Date. For purposes of this Lease, the "The Term Commencement Date in respect of the Expansion Area (the “Expansion Commencement Date" ”), shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occurlater of: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" itemsApril 1, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property)2008, and (ii) the date that the then-current occupant vacates the Expansion Area. While Tenant’s right to exercise its option to lease the Expansion Area remains outstanding, Landlord will not enter into any lease with any entity other than Tenant or a certificate Tenant Affiliate that will permit such entity to occupy all or any portion of occupancy has been the Expansion Area after March 31, 2008. Landlord agrees to use commercially reasonable efforts to deliver the Expansion Area to Tenant on or before April 1, 2008, which efforts shall include, if necessary, the commencement and prosecution of a summary process action to recover possession of such space. If Landlord fails to deliver possession of the Expansion Area to Tenant on or before April 1, 2008, then, as Tenant’s remedy therefor, Tenant shall receive a credit against Base Rent due hereunder in an amount equal to the excess of (or is deemed a) the base rent payable by the then-current occupant of the Expansion Area as increased pursuant to have been) issued the holdover provisions of such occupant’s lease with respect to the Premises Expansion Area over (b) the Base Rent determined under Paragraph (2) below with respect to the Expansion Area. Such credit shall be calculated on a per diem basis for each day that elapses after April 1, 2008, and before the earlier to occur of (x) the Expansion Commencement Date and (y) June 1, 2008. In addition to the foregoing, if the Expansion Commencement Date has not occurred on or the building inspector has (or is deemed to have) provided before June 1, 2008, then Tenant shall receive a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay credit against Base Rent payable hereunder in the performance or substantial completion amount of Landlord's Work the per diem Base Rent determined under Paragraph (including2) below with respect to the Expansion Area for each day that elapses after June 1, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay2008, and before the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval occurrence of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Expansion Commencement Date. Notwithstanding the foregoing, if Landlord fails the per diem credit that tenant would receive for the period from April 1, 2008 through June 1, 2008 exceeds the per diem credit that Tenant would receive after June 1, 2008, then, in lieu of the credit set forth above applicable after June 1, 2008, Tenant shall continue to substantially complete Landlord's Work receive, if the Expansion Commencement Date has not occurred on or before June 1, 2008, the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completedpreviously applicable rent credit.
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Term Commencement Date. For purposes (a) Landlord shall make the Leased Premises available to Tenant for the performance by Tenant of its Tenant finish work simultaneously with the Effective Date of this Lease, the "Term Commencement Date" . Such space shall be defined delivered to Tenant in "as is" condition, Landlord having no obligation to do any demolition, construction or improvement work with respect to such space, except as provided in Exhibit "B". Rent and occupancy for Tenant's business operations shall commence upon the earlier of (Ai) the first date on which Tenant occupies all has completed its move in and has commenced its business operations or (ii) September 15, 1997.
(b) Except as specifically and expressly provided in this Lease, Landlord makes no express or implied warranties as to the condition of such space (or any part of the Premises other space subsequently leased by Tenant) or its suitability for the conduct of businessTenant's business except as provided in Exhibit "F".
(c) Prior to performing any work in the Leased Premises, Tenant shall submit working drawings and specifications sufficient to complete construction based thereon ("Tenant's Plans") for Tenant's improvements, additions, installations, alterations and trade fixtures to be installed in the Leased Premises (and for any subsequent improvements or changes to the Leased Premises, including as to additional space added thereto) for Landlord's review and written approval. Landlord shall have ten (B) fourteen (1410) days after from receipt of Tenant's Plans to either approve or reject or comment to same, specifying the date on which both reason for any objections or comments in reasonable detail in writing. Landlord shall not unreasonably withhold its approval to any of the following shall occur: Tenant's Plans provided (i) Landlord's Work shall the same provide for improvements which will be (or be deemed to be) substantially completed (notwithstanding compatible and integrate with and not unduly drain from the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises base building systems for the purposes allowed herein, Building and (z) finishes and exterior landscaping to the Property), and will meet all structural design load requirements; (ii) a certificate no improvements of occupancy has been Tenant will be visible from the exterior of the Building; (iii) any improvements visible from common areas, including elevator lobbies, will be aesthetically compatible with the Building common areas; (iv) all of Tenant's improvements and the construction thereof will be consistent with good construction, engineering and safety practices; and (v) any additional requirements of Sections 7.01 or is deemed to have been) issued 11.01 , the Rules and Regulations attached hereto as Exhibit "H" and other provisions of this Lease are met. Landlord shall charge no plan review fee or fee for third- Tenant shall perform all construction with respect contractors and subcontractors of its choice, subject to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion prior written approval of Landlord, which approval shall not be unreasonably withheld or delayed. Tenant shall cooperate in providing Landlord with the information that it requests to qualify contractors or subcontractors. Tenant and Tenant's Work (including, without limitation, by failing to timely prepare contractors and subcontractors shall comply with all Applicable Laws and all of the Construction Drawings), then Landlord's Work Building Rules and Regulations as set forth in performing its construction. All such construction shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but performed in a good and workmanlike manner in keeping with good construction practice. Tenant shall be responsible for such delay, obtaining all of its required building permits and the certificate of occupancy (if required) for the Premises Leased Premises, as well as any special permits or licenses required pursuant to Section 7.01. Tenant shall indemnify and hold harmless Landlord from and against any and all losses, damages, costs and expenses (includes costs of suit and attorneys' fees), liabilities, or building inspector "sign off" as aforesaid) shall be deemed causes of action arising out of or relating to have been issued (any alterations, additions, installations, or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work improvements made by the date (as the same may be modified by Landlord at or prior Tenant to the time Leased Premises, including but not limited to, mechanics, materialmen's or other liens or claims (and all costs or expenses associated therewith) asserted, filed or arising out of its approval any such work. All contracts with materialmen, contractors, artisans, mechanics, laborers and other parties hereafter contracting with Tenant for the furnishing of any labor, services, materials, supplies or equipment with respect to any portion of the Construction Drawings as provided in Leased Premises must provide that they look solely to Tenant for payment for same. Without limiting the second paragraph generality of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails Tenant shall repair or cause to substantially complete be repaired at its expense all damage caused by Tenant or any of its contractors, their subcontractors or their employees, to the Building or any mechanical system therein, or at Landlord's Work on or before the date option, following notice to Tenant which is sixty (60) days after reasonable under the Estimated Substantial Completion Date due to Landlordcircumstances, Landlord shall repair such damage at Tenant's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due cost and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completedexpense.
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Term Commencement Date. For purposes of this Lease, the "(a) The term “Term Commencement Date" ” shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after mean the date on upon which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, the Completion Date (as hereinafter defined) shall have occurred with respect to all of the items of Landlord’s Initial Work (as hereinafter defined) other than item 3(b) of Landlord’s Work (the “Initial AC Work”) and (y) work to be undertaken by Landlord which does not materially impair Tenant's shall have notified Tenant that Landlord has obtained the necessary approvals from the City of Norwalk for the use of the Premises for the purposes allowed hereinset forth in Section 1.05 hereof. Landlord shall use commercially reasonable efforts to cause the Term Commencement Date to occur on or before the ninetieth (90th) day after the date of this Lease. If (i) the Completion Date shall fail to have occurred on or before the applicable Outside Date (as hereinafter defined), and (z) finishes and exterior landscaping subject to the Property), extension for the period that such occurrence is prevented due to a Tenant’s Delay or Force Majeure event (as hereinafter defined) and (ii) a certificate Tenant shall have given Landlord written notice (the “Self-Help Notice”) of occupancy has been such failure within thirty (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (9030) days after Landlord's final approval of the Construction DrawingsOutside Date clearly stating “NOTICE OF FAILURE TO COMPLETE LANDLORD’S INITIAL WORK; LANDLORD’S FAILURE TO COMPLETE LANDLORD’S INITIAL WORK FOR MORE THAN THIRTY (30) ADDITIONAL DAYS SHALL ENTITLE TENANT TO EXERCISE ITS SELF-HELP RIGHT TO COMPLETE LANDLORD’S INITIAL WORK” or language to substantially similar effect and (iii) the Completion Date fails to occur within 30 days after Tenant gives the Self-Help Notice, but then Tenant shall have the right (the “Self-Help Right”) to cure such failure by completing such uncompleted item(s) of Landlord’s Initial Work in the manner Landlord is required to perform the same and to recover its reasonable out-of-pocket costs actually paid to third parties to cause the Completion Date to occur by offsetting such costs against the first installments of Base Rent (as hereinafter defined) accruing hereunder; provided however, that Tenant shall provide Landlord with paid receipts and invoices and partial lien waivers for all such work performed by Tenant and a xxxx therefor and shall give Landlord at least thirty (30) days to pay Tenant such xxxx prior to Tenant exercising any such right of offset against Base Rent. In the event that Landlord asserts that the Completion Date has not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work occurred on or before the date which is sixty Outside Date by reason of a Force Majeure event, then Landlord shall (60x) within three (3) business days after thereafter, provide Tenant with a reasonably detailed explanation of why Tenant’s exercise of the Estimated Substantial Self-Help Right would not expedite the occurrence of the Completion Date due and (y) diligently and continuously attempt to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of cause the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completedto occur as soon thereafter as reasonably practicable.
Appears in 1 contract
Samples: Lease (Digitas Inc)
Term Commencement Date. For purposes The Term of this Lease, the "Lease will commence upon the Term Commencement Date" shall be Date (as defined as the earlier of (A) the first date on which Tenant occupies all or any part in Section 1.3 of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the PropertyLease), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated any Tenant Delay causes a delay in Substantial Completion Date due to Landlord's fault or neglectof the Leasehold Improvements Work, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in shall be deemed to be the amount of one (1) day of Base Rent for each day after the Estimated date that Substantial Completion Date that Landlord's of the Leasehold Improvements Work shall not would have been substantially completedachieved, but for such Tenant Delay. On the Term Commencement Date, Landlord agrees that, at Landlord’s expense: (a) Landlord will deliver possession of the Premises and the Leasehold Improvements, free of all leases, tenancies, occupants, construction lien claims not discharged or transferred to security within ten (10) business days of the filing thereof, and defects in material and workmanship, but subject to Punchlist Items for Base Building Work or Leasehold Improvements Work; (b) the Base Building and the Leasehold Improvements will be in compliance with all Legal Requirements other than as may be applied due solely to a special use by Tenant unless the special use is shown on the final approved Base Building Plans or Leasehold Improvement Plans or in an approved Tenant’s Building Change or Tenant’s Leasehold Improvement Changes; (c) Landlord will satisfy all those obligations imposed upon Landlord by the provisions of the Lease which are required to be complied with prior to the commencement of the Term of the Lease, and (d) Landlord shall remove from the Premises all temporary systems, tools, equipment, machinery, surplus materials, waste and rubbish, and replace broken glass, except to the extent that any such items need to remain in order to complete any mutually approved Punchlist Items. Notwithstanding the foregoing, to the extent that the Term Commencement Date occurs and, due to a Tenant Delay or a default by Tenant under the Lease or this Addendum, any of the foregoing requirements set forth in clauses (a) — (d) above have not been met or satisfied by Landlord then such requirements shall be deemed to be waived by Tenant for purposes of determining the date of Substantial Completion of the Work, and the Term Commencement Date shall nevertheless be deemed to occur, but Landlord will complete such requirements when Substantial Completion of the Work actually occurs.
Appears in 1 contract
Samples: Lease Agreement (Office Depot Inc)
Term Commencement Date. For purposes (a) Subject to Sections 3.01(c) and (d) of this Lease, Rent shall commence and the Term Commencement Date shall occur fourteen (14) days following the Substantial Completion of the Tenant Improvements in accordance with Exhibit B hereto (such date being the "Term Commencement Date" shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, upon the Substantial Completion of the Tenant Improvements in portions of the Premises, Landlord shall deliver such completed portions of the Premises (but only in Half Floor or Full Floor increments) to Tenant for Tenant to move furniture and equipment into such completed portions of the Premises. Prior to the Term Commencement Date Tenant shall not pay any Rent while moving or installing furniture and equipment in such completed portions of the Premises. Notwithstanding anything in this Lease to the contrary, if at any time prior to the Term Commencement Date, Tenant commences business operations from any completed portion of the Premises, then all terms and provisions of the Lease shall be in full force and effect and Tenant shall pay a proportionate share of the Rent for the use of such completed portion of the Premises; provided, however, that such commencement of business operations from any completed portion of the Premises shall not trigger the Term Commencement Date. If Tenant commences business operations from any portion of the Premises prior to the Term Commencement Date, then all other provisions of the Lease (except for the full payment of Rent [Tenant will only be paying a proportionate share of the Rent for the use of the portion of the Premises being used by Tenant] and the commencement of the Term Commencement Date) shall apply and be in full force and effect.
(b) Intentionally Deleted
(c) Landlord fails hereby agrees to substantially complete Landlord's Work use good faith diligent efforts to Substantially Complete the Tenant Improvements on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect(defined below). If Landlord does not Substantially Complete the Tenant Improvements by the Completion Date, then Tenant Tenant, as Tenant's sole and exclusive remedy (except as otherwise set forth in the following sentence), shall be entitled to receive from Landlord a rent credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of equal to one (1) day of Base Rent free Annual Rental for every one (1) day that the Tenant Improvements are not Substantially Completed following the Completion Date. Additionally, Tenant shall have the right to terminate this Lease by giving Landlord ten (10) days prior written notice in the event that Landlord fails to Substantially Complete the Tenant Improvements for the Premises within ninety (90) days following the Completion Date; provided, however, Tenant shall provide such prior written notice to Landlord prior to Landlord Substantially Completing the Tenant Improvements. The term "Completion Date" shall mean that date which is 200 days from the date of approval of the "Final Plans" (as defined in Exhibit "B") by both Tenant and Landlord; provided, however, the Completion Date shall be postponed one (1) day for each day after the Estimated Substantial Completion Date of Tenant Delay and one (1) day for each day that Landlord's Work shall not have been substantially completedone or more Force Majeure Events are experienced by Landlord and/or its contractors, subcontractors and employees.
Appears in 1 contract
Samples: Office Lease (Helmerich & Payne Inc)
Term Commencement Date. For purposes The term of this Lease, Lease ("Term") shall commence on the date (the "Term Commencement Date" ") that the Premises are Ready for Delivery (as defined in Section 2.2 below). Unless sooner terminated, as provided in this Lease, the Term shall be defined as end on the earlier anniversary of the Term Commencement Date (A) the first date on which Tenant occupies all or any part "Term Expiration Date"). If Landlord does not tender possession of the Premises to Tenant on or before the Target Commencement Date for the conduct of businessany reason whatsoever, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may not be modified by Landlord at rendered liable for any damage caused thereby and this Lease shall not be rendered void or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawingsvoidable thereby, but Tenant shall not have be liable for any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by Rent (as defined in Section 3.4 below) until the Estimated Substantial Completion Term Commencement Date. Notwithstanding No failure to tender possession of the foregoing, if Landlord fails to substantially complete Landlord's Work Premises on or before the date which Target Commencement Date shall (a) in any way affect any other obligation of Tenant hereunder, or (b) if the delay is sixty (60) a Landlord caused delay, the equal number of days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant delayed shall be entitled added to a credit (offset) against Base Rent due and payable as the end of the Term, so tenant will have the full 5 year Term. Once the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion and Term Expiration Date that Landlord's Work shall not have been substantially completeddetermined, Landlord may confirm the Term Commencement Date and Term Expiration Date in writing to Tenant; and unless objected to by Tenant within three (3) days, such confirmation shall be binding upon Tenant. The Term shall commence on the Term Commencement Date and end on the Term Expiration Date whether or not such confirmation is given. This Lease shall be a binding contractual obligation effective upon execution and delivery hereof by Landlord and Tenant, notwithstanding the later commencement of the Term.
Appears in 1 contract
Samples: Office Lease (Looksmart LTD)
Term Commencement Date. For purposes of this Lease, the "Term Commencement Date" shall be defined as the (Section 2): The earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occurof: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by date Landlord which does not materially impair Tenant's use tenders possession of the Premises for to Tenant with the purposes allowed hereinHVAC Installation (as defined in Section 35, and (zbelow) finishes and exterior landscaping to the Property)having been completed, and or (ii) a certificate if Tenant elects to commence its tenant improvements within the Premises (pursuant to the Work Letter Agreement attached hereto as Exhibit “C”) before Landlord has completed the HVAC Installation, the date Landlord tenders possession of occupancy has been (the Premises to Tenant; provided, however, Landlord shall not be required to give Tenant the keys or is deemed to have been) issued with respect access to the Premises (or until Tenant has given Landlord written proof of insurance that meets the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate requirements of occupancy will issue in due course)the Lease. If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work Landlord shall be deemed to have been substantially completed on tendered possession upon Landlord’s notification that the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy keys for the Premises are available for pick-up at Landlord’s leasing office. Unless Tenant elects to commence its tenant improvements within the Premises as set forth in subsection (or building inspector "sign off" as aforesaidii) above, in no event shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in occur earlier than April 14, 2008. Target Term Commencement Date: Six (6) weeks from the amount of one (1) day of Reference Date j. Base Rent Commencement Date (Section 3.1): Term Commencement Date k. Base Monthly Rent (Section 3.1): Twenty Seven Thousand Nine Hundred Sixty and 15/100 Dollars ($27,960.15) per month; provided, however, Base Monthly Rent shall be abated by fifty percent (50%) for each day after the Estimated Substantial Completion Date that Landlord's Work second (2nd) through fifth (5th) full calendar months of the Original Term (the “Abated Rent Period”). However, during the Abated Rent Period, Tenant shall not have been substantially completedcontinue to be responsible for all Tenant’s obligations under the Lease, including payment of Common Area Operating Expenses.
Appears in 1 contract
Term Commencement Date. For purposes of this Lease, The term shall commence on the "Term Commencement Date" shall be defined as the earlier of (A) the first date March 1st, 2010 with Lessee to take possession on which Tenant occupies all or any part February 25th, 2010 . If Lessor is unable to deliver possession of the Premises to Lessee on or before the Commencement Date for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work reason whatsoever (including, without limitation, by failing the holding over of a previous occupant or Lessor's inability to timely prepare the Construction Drawingscomplete any required construction), then LandlordLessor shall not be liable to Lessee for any damages or losses resulting therefrom and this Lease shall continue in full force and effect, except for the term hereof and Lessee's Work obligation to pay "Base Rental" (as set forth in Table A below) or other rental pursuant hereto shall commence on the day after Lessor delivers possession of the Premises to Lessee (regardless of whether Lessee actually takes possession on that date) and the Termination Date shall be deemed advanced by the number of days that the commencement of the term hereof was so delayed. If Lessor, however, is unable to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate deliver possession of occupancy for the Premises (to Lessee on or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is before ninety (90) days after Landlord's final approval of the Construction DrawingsCommencement Date, but Tenant Lessee shall not have any claim against Landlord, and Landlord shall have no liability be entitled to Tenant, if Landlord's Work is not substantially completed terminate this Lease by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails written notice to substantially complete Landlord's Work Lessor given on or before the date which is sixty five (605) days after the Estimated Substantial Completion expiration of said 90-day period. If Lessee takes possession of the Premises before the Commencement Date, the term hereof and Lessee's obligation to pay Base Rental and other sums hereunder shall commence as of such date, but the Termination Date due shall not change. If the term hereof commences as herein provided on other than the Commencement Date, Lessee shall, at Lessor's request, confirm in writing the date of commencement of the term hereof and any adjustment to Landlord's fault or neglectthe Termination Date, then Tenant which confirmation shall be entitled to attached hereto and made a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completedpart hereof.
Appears in 1 contract
Term Commencement Date. For purposes of this Lease, the "The “Term Commencement Date" ” shall be defined as the earlier of (A) the first date on which which: (a) Landlord delivers the Premises to Tenant with the Delivery Condition (as defined below) satisfied (the “Delivery Date”); or (b) Tenant occupies all or any part portion of the Premises for the conduct of its business. Subject to the foregoing provision, Landlord anticipates that the Delivery Date shall occur on or before July 1, 2019 (B) fourteen (14) days after the date on which both of “Estimated Term Commencement Date”). Notwithstanding the following shall occur: foregoing or anything to the contrary set forth in this Lease, but subject to the terms and provisions set forth hereinbelow, Tenant acknowledges that (i) Landlord's Work shall be (all or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use a portion of the Premises are currently occupied by another tenant, Kaspersky Lab, Inc. (“Kaspersky”), with whom Landlord has entered into an agreement obligating Kaspersky to vacate and surrender the Premises to Landlord on or before June 30, 2019, (ii) Landlord shall not be liable to Tenant for failing to deliver the purposes allowed hereinPremises, or any portion thereof, to Tenant by any particular date, and (ziii) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have the right to terminate this Lease for Landlord’s failure to timely deliver the Premises, or any claim against Landlordportion thereof, and to Tenant by any particular date, but shall accept delivery of such Premises when delivered by Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by with the Estimated Substantial Completion DateDelivery Condition satisfied. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work the Delivery Date has not occurred on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglectTerm Commencement Date, then Tenant this Lease shall not be void or voidable and neither Landlord nor any of Landlord’s Agents shall be entitled liable to Tenant for any loss or damage resulting therefrom; provided, that, subject to any delays caused by casualty and/or condemnation pursuant to ARTICLE 14 below and/or Force Majeure, in the event that the Delivery Date is delayed beyond: (A) August 1, 2019 (the “Initial Outside Delivery Date”), then so long as this Lease is then in full force and effect and no default of Tenant exists hereunder beyond the expiration of applicable notice and cure periods, Tenant shall, following the Rent Commencement Date, receive a credit against Basic Rent equal to one (offset1) against Base days’ then current Basic Rent due and payable as of the Term Commencement Date in the amount of for each one (1) day that the Delivery Date is delayed beyond the Initial Outside Delivery Date; and (B) September 1, 2019, then so long as this Lease is then in full force and effect and no default of Base Rent Tenant exists hereunder beyond the expiration of applicable notice and cure periods, Tenant shall have the right to terminate this Lease upon at least ten (10) Business Days’ written notice to Landlord (“Tenant’s Termination Notice”) in which case this Lease shall terminate and be of no further force and effect without further liability or obligation on the part of either party (except for each day after any obligations expressly stated herein to survive termination) unless Landlord causes the Estimated Substantial Completion Delivery Date that to occur prior to the expiration of such ten (10) Business Day period, in which case such termination and termination right (and Tenant’s Termination Notice) shall be null and void and of no further force and effect and this Lease shall continue in full force and effect. Promptly upon the occurrence of the Term Commencement Date, Landlord may, at Landlord's Work ’s option, deliver to Tenant written notice confirming same, but Landlord’s failure to deliver such notice shall not have been substantially completedconstitute a default by Landlord or affect the rights and obligations of the parties hereunder. At Landlord’s request, Tenant shall execute and deliver to Landlord a Commencement Date Agreement in the form attached hereto as Exhibit D confirming the Term Commencement Date, the Rent Commencement Date and the Expiration Date within ten (10) days of such request.
Appears in 1 contract