TERM OF LEASE. The term of this Lease shall be the term specified in the Basic Lease Information (the “Term”), which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any manner.
Appears in 4 contracts
Samples: Enhanced Use Lease (Bloom Energy Corp), Enhanced Use Lease (Bloom Energy Corp), Enhanced Use Lease (Bloom Energy Corp)
TERM OF LEASE. The term of this Lease shall be the term specified in the Basic Lease Information (the “Term”)Information, which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) Date and, unless sooner terminated by law or as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings Premises or the Property and Tenant shall accept the Premises “as is” on the Commencement Date. Landlord and Tenant expressly agree that there are and shall be no implied warranties of merchantability, habitability, fitness, for a particular purpose or of any other kind arising out of this Lease and there are no warranties which extend beyond those expressly set forth in this Lease. As an express condition to remodelLxxxxxxx’s willingness to enter into this Lease and without satisfaction of which Lxxxxxxx would not have proceeded to execute this Lease, renovateTenant expressly confirms and acknowledges its Total Asset Obligations and will honor, recondition, alter or improve the Premises, the Buildings or the Property in any mannerabide by and comply with such Total Asset Obligations at all times.
Appears in 2 contracts
Samples: Industrial Lease (Amrep Corp.), Industrial Lease (Amrep Corp.)
TERM OF LEASE. The term of this Lease shall be the term specified in the Basic Lease Information (the “Term”), which shall commence on the commencement date specified Lease Commencement Date and shall remain in the Basic Lease Information effect for a period of time running through March 31, 2016 (the “"Term"). The "Lease Commencement Date”) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date " shall be postponed until the earlier of: (i) the date on which Landlord delivers possession construction of the Premises to Tenant, but are Substantially Complete (as defined in Section 2(b)); or (ii) the Expiration Date shall not be extendeddate Tenant commences beneficial use of the Premises. Tenant acknowledges that Xxxxxx has inspected shall be deemed to have commenced beneficial use of the Premises when Tenant begins to move furniture, furnishings, inventory, equipment or trade fixtures into the Premises. The parties acknowledge that they contemplate that the Lease Commencement Date will occur on or about April 1, 2006. The Premises shall be deemed to be "Substantially Complete" when (i) as certified by Landlord's architect for Pilgrim V ("Landlord's Architect"), the Buildings Premises have been completed in accordance with the specifications attached hereto as Exhibit B (the "Specifications"), except for items of work and adjustments of equipment and fixtures that can be completed after the Property or has had Premises are occupied without causing substantial interference with Tenant's use and occupancy of the PremisesPremises (collectively, the Buildings "Punch List Items"), and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition (ii) a certificate of occupancy for use of the Premises, if required, has been issued by the Buildings applicable governmental authorities. As soon as Landlord's Architect certifies the Premises to be Substantially Complete, Landlord will so notify Tenant and Tenant will promptly thereafter inspect the PropertyPremises for conformity to the Specifications. If Tenant determines that the Premises conform to the Specifications, Tenant will so inform Landlord and they will together compile a list of Punch List Items, together with a schedule for completing the Punch List Items. If Tenant determines that the Premises do not conform to the Specifications in any material respect, Tenant will so notify Landlord in writing and Landlord will cause the Premises to be repaired or corrected so that they do conform to the Specifications in all material respects. In the event of a dispute as to whether the Premises conform to the Specifications, the Premisesmatter in dispute will be referred to Landlord's Architect to be resolved impartially and in good faith. Tenant, the Buildings and the Property are suitable for Tenant’s purposes, and the condition by taking possession of the Premises, shall accept and shall be held to have accepted same as suitable for the Buildings and use intended by the Property is acceptable to Tenant. Tenant accepts , provided that Landlord shall remain responsible for the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability prompt completion of the Premises or any utility systems serving the Premises for Punch List Items and shall complete same in a manner which avoids unnecessary interference with Tenant’s purposes), 's use and Tenant is relying solely on its own investigation occupancy of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any manner.
Appears in 1 contract
Samples: Lease Agreement (Green Mountain Coffee Roasters Inc)
TERM OF LEASE. The Landlord leases unto the Tenant and the Tenant hires the Leased Premises for the term of three (3) years, to commence on or about December 1, 1999, and to end on November 30, 2002, the obligation of the Tenant hereunder being subject to the following proviso:
2.1 That on or about December 1, 1999, the Landlord shall have delivered to the Tenant a Certificate of Occupancy issued by the authorized issuing officer of the governmental instrumentality having jurisdiction thereof. Upon the delivery by the Landlord to the Tenant of the Leased Premises, and the Certificate of Occupancy hereinabove mentioned, the lease term shall commence and the Tenant's obligation to pay rent shall begin (subject to the provisions of Article 2.2 hereof).
2.2 Subject to the terms and conditions of this Lease shall be the term specified lease, in the Basic Lease Information event the Leased Premises are delivered to the Tenant in the manner provided in Article 2.1 above, prior to or after December 1, 1999, the lease term of three (the “Term”), which 3) years shall commence on the commencement date specified in first day of the Basic Lease Information next succeeding month following delivery of possession to the Tenant (hereinafter called the “"Commencement Date”") andand shall continue for a term of three (3) years thereafter. The Tenant shall, unless sooner terminated as hereinafter providedhowever, shall end on pay to the expiration date specified in Landlord a sum equal to the Basic Lease Information pro rata share of one (the “Expiration Date”). If Landlord, 1) month's rent for any reason whatsoever, does not deliver possession that portion of the month prior to the Commencement Date. During said period of partial monthly occupancy, if any, all other terms and conditions of this lease shall be applicable to the occupancy of the Leased Premises by the Tenant.
2.3 In the event the Landlord has not delivered the Leased Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession within sixty (60) days of the Premises later of (a) full execution of this lease and (b) delivery by Tenant to Tenant, but the Expiration Date shall not be extendedLandlord of any executed application and/or any other documentation required in order to obtain a certificate of occupancy. Tenant acknowledges that Xxxxxx has inspected the Premises, ability of the Buildings and Landlord to deliver the Property Leased Premises to the Tenant shall not be delayed due to the unavailability of the carpet or has had paint selected by the Premises, the Buildings and the Property inspected by professional consultants retained by XxxxxxTenant. In such event, Tenant is familiar with the condition shall timely make alternate choices of building standard carpet and paint in lieu of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerselections originally made.
Appears in 1 contract
Samples: Lease Agreement (2bridge)
TERM OF LEASE. (a) The term of this Lease (the "Lease Term") shall be the term specified as shown in the Basic Lease Information (the “Term”), which Terms and it shall commence on that date (the commencement date specified "Commencement Date") set forth in the Basic Lease Information Terms.
(b) Landlord shall permit Tenant to enter onto the “Commencement Date”Leased Premises at its risk and expense for purposes of Tenant's installation of improvements and personal property upon the execution and delivery of this Lease by both parties, provided that such entry shall be conducted so as to not interfere with the Landlord's Work.
(c) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified If a renewal option is provided in the Basic Lease Information Terms, and provided that Tenant is not in default beyond the expiration of applicable cure periods, that this Lease has not otherwise been terminated and that Tenant has not assigned the Lease or sublet the Leased Premises, then Tenant shall have an option to extend this Lease for additional period(s) as set forth in the Basic Lease Terms, if any. Each option shall be exercised only by notice no less than six (6) months prior to the “Expiration Date”)expiration of the current Lease Term. Said notice shall be effective only if given in the manner described herein and provided Tenant is not in default beyond the expiration of applicable cure periods under this Lease either on the date of the notice or on the date of the expiration of the prior Lease Term. A prior default cured by Tenant within any applicable grace period shall not disqualify Tenant from the ability to exercise this renewal option. The extension term shall be on the same terms and conditions as the initial Lease Term, except for Base Rent which shall be as set forth herein. Once the Lease Term is duly extended, any reference in this Lease to the "Lease Term" shall mean the Lease Term as extended unless the context otherwise requires.
(d) The Base Rent for the extension term shall be equal to the then fair market rental value of the Leased Premises and accompanying rights as of the commencement date of the extension term; however in no event shall the Base Rent for the extension term be less than the Base Rent applicable during the original Lease Term. If Landlordthis option is timely exercised, then upon request of either party the parties shall execute an instrument memorializing the Base Rent and any other agreements between the parties applicable to the first extension period. Upon Xxxxxx's request no earlier than four (4) months prior to the expiration of the original Lease term, Landlord shall promptly designate its opinion as to the fair market rental value as aforesaid. In the event that the parties are unable to agree as to such fair market rental value at or prior to the time of Tenant's exercise of its extension option, Landlord and Tenant shall then endeavor to agree on a neutral appraiser. If the identity of the neutral appraiser is agreed to, such appraiser shall render a written decision within 45 days thereafter, which decision shall be final and binding. In the event that for any reason whatsoeverreason, does not deliver possession no neutral appraiser is agreed upon within 60 days after Xxxxxx's exercise of its extension option, then the matter shall be settled by arbitration in accordance with the then prevailing Rules of Commercial Arbitration of the American Arbitration Association by a panel of six (3) arbitrators at least one of whom shall be a commercial real estate broker with at least 10 years experience in the greater Portland, Maine market, provided that the arbitrators shall have no power to modify any of the provisions of this Lease. Such arbitrators shall render a decision no later than 45 days prior to the extension term. The expense of the appraiser/arbitrators shall be shared equally by the parties.
(e) At the expiration of the term hereof, Tenant shall surrender the Leased Premises in the same condition as the Leased Premises were in upon delivery of possession thereto under this Lease, reasonable wear and tear excepted, and shall surrender all keys for the Leased Premises to Lessor at the place then fixed for the payment of rent, and with the Tenant’s goods, inventory, improvements and alternations being disposed of in accordance with Section 9. Tenant on shall remove all its trade fixtures and shall repair any damage to the Commencement Date, Leased Premises caused thereby and leave the Leased Premises in ‘broom clean” condition. Tenant's obligation to observe and perform this covenant shall survive the expiration or the termination of the term of this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the sameAgreement, or any portion extension or renewal thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any manner.
Appears in 1 contract
Samples: Triple Net Lease
TERM OF LEASE. The term of this Restaurant Lease shall be commence upon the term specified in following dates: (I) the Basic Lease Information (the “Term”), which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession [INSERT DATE] after delivery of [INSERT DETAIL] of the Premises demised areas to Tenant on [INSERT NAME OF TENANT] for the Commencement Dateinitiation of Tenant’s task, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until (ii) the date on which Landlord delivers [INSERT NAME OF TENANT] shall open the demised areas for business purposes. In the event the commencement date fall on a day other than the first day of the month, the initial rent shall be prorated. Notwithstanding the foregoing, all terms of this Restaurant Lease shall be effective on [INSERT COMPLETE DATE] until the commencement date which is [INSERT COMPLETE DATE]. This Restaurant Lease shall be terminated immediately at the end of the [INSERT DETAIL] hereof. This will take effect without the need to notify either [INSERT NAME OF LANDLORD] or [INSERT NAME OF TENANT]. The “Tenant” shall hereby defer notice to depart the demised areas and hereby acknowledges that the “Landlord” shall be legible to the advantage of all provisions of law. [INSERT NAME OF TENANT] shall transfer and concede to [INSERT NAME OF LANDLORD] possession of demised areas upon termination or expiration of this Restaurant Lease. [INSERT NAME OF TENANT] at its own cost shall clear away all property of [INSERT NAME OF TENANT] and all [INSERT DETAIL], [INSERT DETAIL], and [INSERT DETAIL] which “Landlord” has mandated in writing to be abolished upon the Premises expiration or termination of this Restaurant Lease. [INSERT NAME OF TENANT] shall repair all damage to the demised areas caused by [INSERT DETAIL] and build up the demised areas to the state prior the rental of [INSERT NAME OF TENANT]. Any possessions not removed during the termination or expiration of this Restaurant Lease hereof shall be deemed to have been discarded by [INSERT NAME OF TENANT] and shall be [SPECIFY DETAIL] or [SPECIFY DETAIL] by [INSERT NAME OF LANDLORD]. [INSERT NAME OF TENANT]’s responsibilities in performing this covenant shall withstand the termination of expiration of this Restaurant Lease. If [INSERT NAME OF TENANT] will remain in possession of all parts of the said demised areas after the expiration or termination of this Lease, then [INSERT NAME OF TENANT] shall be deemed a “Tenant, but ” of the Expiration Date demised areas from a [SPECIFY MONTH]. In the event [INSERT NAME OF TENANT] shall not be extended. Tenant acknowledges that Xxxxxx has inspected remain in possession of all parts of the Premises, demised areas without the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by XxxxxxLandlord’s consent, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable shall be obliged for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation damages or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any manneras otherwise provided by law.
Appears in 1 contract
Samples: Lease Agreement
TERM OF LEASE. 2.01. The term of this Lease shall begin on October 1, 1997, ("the Commencement Date") and shall end on October 31, 2002, unless sooner terminated as herein set forth. The term as fixed by this Section 2 shall hereafter be referred to as the "original term".
2.02. If Landlord shall be unable for any reason to give possession of the Premises on the Commencement Date by reason of unavailability of materials, labor disputes, Acts of God or other casualty, changes in the Plans requested by Tenant, or any other causes whatsoever, Landlord shall not be subject to any liability or liable for damages to Tenant for the failure to give possession on such date but the rent to be paid herein shall not commence until the Premises are ready for occupancy by Tenant and the rental therefor shall be postponed and the term of the Lease extended. No such failure to give possession on the date of the commencement of the term shall affect the validity of this Lease or the obligations of Tenant hereunder. If permission is given to Tenant to enter into possession of the Premises, or to occupy Premises other than the Leased Premises, prior to the date specified as the commencement of the term of this Lease, Tenant covenants and agrees that such occupancy shall be deemed to be under all the terms, covenants, conditions and provisions of this Lease. It is understood that if the building shall not be completed as set forth herein at the time provided, as a result of any cause or reason, the Landlord shall not be liable in damages to the Tenant therefor, but during the period the building shall not be completed as hereinbefore provided, the rental therefor shall be postponed and the term of the Lease extended. Notwithstanding the provisions of this Section 2.02 above, if Landlord fails to deliver possession of the Premises within one hundred twenty (120) days of the Commencement Date specified in the Basic Lease Information (the “Term”)Provisions above, which shall commence through no fault or delay on the commencement date specified in the Basic part of Tenant, then Tenant may cancel this Lease Information by written notice to Landlord within ten (the “Commencement Date”10) and, unless sooner terminated as hereinafter provided, shall end on days of the expiration date specified in the Basic Lease Information of such one hundred twenty (the “Expiration Date”)120) day period. If Upon Landlord's securing a temporary certificate of occupancy, for any reason whatsoever, does not Landlord shall deliver possession of the Premises to building known as 50 Cxxxxxxxx Xxxxx xx Tenant on with free rent until rental commencement date of December 1, 1997. Although Tenant shall have possession and use of the Commencement Dateexterior facilities, this Lease i.e., the parking lot as of the commencement date, Tenant shall not be void enter, use, or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, occupy the building known as 50 Cxxxxxxxx Xxxxx xxxil the City of Auburn Hills has issued a Temporary Certificate of Occupancy.
2.03. On the Commencement Date or within a reasonable time thereafter upon request by Landlord, Tenant shall be postponed until execute a written instrument confirming the Commencement Date and rental commencement date and the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date term shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerend.
Appears in 1 contract
Samples: Lease (Jabil Circuit Inc)
TERM OF LEASE. The term of this Agreement shall commence as of the date of execution and completion of the Feasibility Period hereof and shall remain in effect for one-year (Initial Term) with an automatic renewal for another one-year term (First Extension) followed by an automatic four year term (Second Extension) unless earlier terminated as herein provided. Lessee shall have a 60 day “Feasibility Period” as follows: Lessee shall have a feasibility period of sixty (60) days from the latest date this Lease shall be the term specified in the Basic Lease Information is executed by all parties hereto (the “TermFeasibility Period”)) to review, which in Xxxxxx’s sole discretion, the condition and suitability of the Property for Lessee’s intended use, including but not limited to development costs, financial and market feasibility, zoning, condition of title, and the physical and environmental condition of the Property. Lemoore shall commence deliver to Lessee copies of any and all plans, documents, studies and other pertinent materials that affect the acquisition and/or development of the Property. From and after the date of this Lease, Lessee, its agents, employees and contractors shall have the right to enter the Property for the purpose of conducting such investigations, inspections and tests of the property as Lessee deems necessary in order to determine the condition and suitability of the Property including, but not limited to, the feasibility matters. Lessee shall indemnify and hold Lemoore harmless from and against any and all loss, expense, claim, damage and injury to person or property resulting from the negligent acts of Lessee, its employees, consultants, engineers, authorized agents and contractors on the commencement date specified Property in connection with the Basic Lease Information (performance of any investigation of the “Commencement Date”) and, unless sooner terminated Property as hereinafter provided, contemplated herein; provided that Lessee shall end on have no responsibility for liability solely arising from any act or omission of Lemoore or its agents. At any time prior to the expiration date specified in of the Basic Lease Information (the “Expiration Date”). If Landlord, Feasibility Period and for any reason whatsoever, does not deliver possession lessee may cancel the transactions contemplated herein by providing Lemoore with written notice of cancellation and the entire Deposit, plus any accrued interest, shall be returned to Lessee. Should Lessee wish to proceed with the transaction contemplated herein at any time during the Feasibility Period, Lessee shall provide Lemoore with written notice of such intent and at that time Option/Lease. Term shall begin and the Deposit shall be treated pursuant to Section 3(a) hereof. Lemoore may terminate the transaction only if Lessee materially breaches any of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable terms and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerconditions hereof.
Appears in 1 contract
Samples: Real Property Lease Agreement
TERM OF LEASE. The term of this Lease shall be the term specified in the Basic Lease Information (the “Term”)Information, which shall commence on the commencement date specified in the Basic Lease Information (the “"Commencement Date”") and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information or as may be sooner terminated pursuant to Section 15.8 hereunder (the “"Expiration Date”"). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but Tenant and the Expiration Date shall not be extendedextended for an equal period (subject to adjustment in accordance with section 2.3 hereof). Tenant acknowledges that Xxxxxx Tenant has inspected the Premises, the Buildings Premises and the Property or has Propertx xx xas had the Premises, the Buildings Premises and the Property inspected by professional consultants retained by XxxxxxTenant, Tenant is familiar with the condition of the Premises, the Buildings Premises and the Property, the Premises, the Buildings Premises and the Property are suitable for Tenant’s 's purposes, and, except for the improvements to be constructed or installed by Landlord pursuant to Exhibit B (if any), and as otherwise required under this Lease, the condition of the Premises, the Buildings Premises and the Property is acceptable to Tenant. Tenant accepts Except for the Premises in its “AS IS” condition, with all faults, without any covenant, representation improvements to be constructed or warranty of any kind or nature whatsoever, express or implied installed by Landlord pursuant to Exhibit B (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposesif any), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings Premises or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings Premises or the Property in any manner, and Tenant shall accept the Premises "as is" on the Commencement Date. Tenant agrees that upon termination of this Lease, Xxxxnt shall surrender the Premises in the same ox xxxxer condition as of the Commencement Date, normal wear and tear excepted. Landlord and Tenant expressly agree that there are and shall be no implied warranties of merchantability, habitability, fitness, for a particular purpose or of any other kind arising out of this Lease and there are no warranties which extend beyond those expressly set forth in this Lease. Notwithstanding the foregoing, Landlord acknowledges that it shall deliver the mechanical and electrical systems of the Building, including the HVAC system, lighting and dock equipment in good working order and shall deliver the Premises in a broom clean condition.
Appears in 1 contract
TERM OF LEASE. The initial term of this Agreement shall commence and end as outlined in Section 3. The first month's rent and monthly fees shall be $0.00 for the period beginning on March 1, 2009 and ending on March 31, 2009. Succeeding monthly periodic rental payment shall commence as outlined in Section 4. Either party, Lessor or Lessee, may terminate this Agreement after the initial term by giving the other party written notice of its intention to terminate the tenancy at least thirty (30) days prior to the expiration of the initial term. In the event Lessee fails to give such written notice and/or holds over the possession of said premises after the initial term of this Agreement, Lease shall be become Month to Month subject to a rental increase as allowed under the term specified in California State law. Such tenancy shall continue only with permission or consent of Lessor, as a month-to-month tenancy until either Lessor or Lessee terminates the Basic Lease Information tenancy by giving the other thirty (30) days written notice of its intention to terminate the “Term”)tenancy unless otherwise agreed to by the parties. Xxxxxx agrees to pay all rent up to and including the end of any thirty (30) day notice period or until the apartment is re-occupied, which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”)whichever occurs first. If Landlordthe Lessor, for any reason whatsoeverreason, does cannot deliver the possession of said premises to the Premises to Tenant on Lessee at the Commencement Datecommencement of said term, as hereinabove specified, this Lease Agreement shall not be void or voidable and Landlord voidable, nor shall not the Lessor be liable to Tenant the Lessee for any loss or damage damages resulting therefrom, but, ; but in such event, the Commencement Date that event there shall be postponed until a per diem deduction of rent covering the date on which Landlord delivers possession period between commencement of said term and the time when the Lessor can deliver possession. In the event Lessee vacates the Premises before the Lease expires, Lessee shall be liable for all rent owed for the remainder of the Premises lease or up to Tenantthe time the premises are re-let as well as all costs incurred by Owner to re-let the premises, but the Expiration Date whichever occurs first. Lessor shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar retain all remedies for non-compliance with the condition of the Premises, the Buildings Lease and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposesSecurity Deposit Agreement, and the condition Lessee shall be liable for any damages for non-compliance. Total amount of the Premises, the Buildings and the Property concession for term of lease is acceptable to Tenant$1,985.00. Tenant accepts the Premises in its “AS IS” condition, Additional gifts/concession included: First Month Free with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any manner.12 Month Lease..
Appears in 1 contract
Samples: Lease Agreement
TERM OF LEASE. The initial term of this Lease shall be the term specified in the Basic Lease Information (the “"Fixed Term”), which ") shall commence on the commencement earlier to occur of (a) the date specified in on which Tenant obtains and receives all Governmental Approvals (excluding a Medicare provider number) or (b) the Basic Lease Information date on which Tenant or Manager begins conducting any business activities from any portion of the Property (the “"Commencement Date”) "), and, unless sooner extended or terminated as hereinafter providedearlier in accordance with the provisions of this Lease, shall end remain in effect for ten (10) years after the first day of the first full calendar month to commence on or after the expiration date specified in Commencement Date. Notwithstanding the Basic Lease Information (the “Expiration Commencement Date”). If Landlord, if for any reason whatsoever, does Landlord cannot deliver possession of the Premises Property to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant for any loss hereunder or damage resulting therefromextend the Term hereof, but, but in such eventcase, the Commencement Date Tenant shall not be postponed obligated to pay Rent until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable tendered to Tenant. Tenant accepts expressly acknowledges that (i) Landlord's obligation to acquire the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect Property pursuant to the suitability Facility Agreement, Acquisition Agreement and the Property Acquisition Agreement is conditioned upon the fulfillment of the Premises conditions stated therein and that Landlord makes no warranty that such conditions can or any utility systems serving will be fulfilled to Landlord's satisfaction and, therefore, Landlord might not acquire (and nothing in this Lease shall obligate Landlord to acquire) the Premises for Tenant’s purposes), Property and Tenant (ii) Landlord is relying solely on its own investigation not obligated to complete the development and construction of the PremisesImprovements upon the Property, such development and construction being the Buildings obligation of Developer pursuant to the Development Agreement and (iii) Landlord makes no warranty that the conditions to Landlord's obligations stated in the Facility Agreement, Acquisition Agreement and Property Acquisition Agreement can or will be fulfilled to Landlord's satisfaction or that the Developer can or will complete the development of the Property and the Propertyconstruction of the Improvements as required under the Development Agreement. Tenant agrees that Therefore, Landlord has made no representations or warranties concerning such conditions, state of repair might not acquire (and use, nor any agreement or promise nothing in this Lease shall obligate Landlord to alter, improve, adapt, repair or keep acquire) the Property and the Property might not be developed (and nothing in repair this Lease shall require the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or develop the Property or to remodelconstruct the Improvements). In the event Landlord shall not acquire the Property on or before March 1, renovate, recondition, alter or improve the Premises, the Buildings 1998 or the Property in any mannerImprovements shall not have been completed within 180 days after the Completion Date, Tenant shall have the right, by delivery to Landlord within ten (10) days thereafter of Tenant's written notice of termination, to terminate this Lease without liability or cost to Landlord or Tenant.
Appears in 1 contract
TERM OF LEASE. (a) The term of this Lease shall be the term for fifteen (15) years, subject to extension or termination as specified in the Basic Lease Information (the “Term”)herein, which shall commence on the commencement date specified in the Basic Lease Information as of September 1, 2000 (the “"Commencement Date”") and, unless sooner terminated or extended as hereinafter provided, shall end on the expiration date specified in immediately preceding the Basic Lease Information fifteenth (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession 15th) anniversary of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until (the date on which Landlord delivers possession of the Premises to Tenant, but the "Expiration Date shall not be extended. Date").
(b) Tenant acknowledges that Xxxxxx Tenant has inspected previously owned and occupied the Premises, the Buildings Premises and the Property or has had the PremisesProperty, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings Premises and the Property, the Premises, the Buildings Premises and the Property are suitable for Tenant’s purposes, 's purposes and the condition of the Premises, the Buildings Premises and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including Except with respect to (i) Landlord's obligations expressly set forth in this Lease and (ii) Landlord's obligations described in subparagraph (c) of this section 2.1 that are to be governed by the suitability Separation Agreement, as defined in subparagraph (c) of the Premises or any utility systems serving the Premises for Tenant’s purposes)this section 2.1, and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any ----------- improvements in the Premises, the Buildings Premises or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings Premises or the Property, and subject to such obligations, Tenant accepts the Premises "as is" on the Commencement Date.
(c) Landlord and Tenant acknowledge (i) that they are parties to a certain Separation Agreement, dated September 1, 2000 (the "Separation Agreement") regarding the receipt and assumption by Monsanto Company, Tenant hereunder, of certain assets and liabilities from Pharmacia Corporation, Landlord hereunder, and that (ii) the Separation Agreement contains certain indemnity rights and obligations between Landlord and Tenant that are to apply to the parties' relationship in connection with the Property, except to the extent this Lease includes provisions that are intended to replace such indemnity provisions of the Separation Agreement. The parties hereby agree that nothing in this Lease is intended to replace the indemnity provisions of the Separation Agreement to the extent they apply to rights and obligations arising out of or related to events that occurred or conditions that existed prior to the Commencement Date of this Lease. The parties further agree that this Lease is intended to replace the indemnity provisions of the Separation Agreement to the extent such provisions of the Separation Agreement relate to the Property in any mannerand apply to rights and obligations arising out of or related to events that occur or conditions that come into existence after the Commencement Date of this Lease.
Appears in 1 contract
Samples: Campus Lease (Monsanto Co /New/)
TERM OF LEASE. The TO HAVE AND TO HOLD the Leased Premises for and during the term of this Lease shall five (5) years to be computed from September 1st, 2020 and fully to be completed and ended on August 31st, 2025 save as hereinafter provided for earlier termination. PROVIDED THAT if there is any Lessor’s Work or Lessee’s Work to be performed prior to the term specified Lessee opening for business in the Basic Lease Information (Leased Premises or the “Term”), which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated Leased Premises are occupied by a third party as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, date of this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such eventLease, the Commencement Date shall be postponed until the date on which Landlord delivers earlier of:
a) zero (0) days after the Lessor has delivered vacant possession of the Leased Premises to Tenantthe Lessee notwithstanding that the Lessor may still, during such zero (0) day period, be completing its work; or
b) the opening by the Lessee to the public of its business in the Leased Premises. Notwithstanding any change in the Commencement Date calculated in accordance with the preceding provisions hereof, the Terms shall expire on the date set for such expiry in the first paragraph of this Section 2.03, subject always to earlier termination as provided for in this Lease. PROVIDED THAT upon the Lessor or its Architect giving notice to the Lessee that the Leased Premises are available for the commencement of the Lessee’s Work, the Lessee shall immediately take possession of the Leased Premises and shall occupy same for the purpose of fixturing and installing its inventory, at its own risk, for a period of zero (0) days after receipt of such notice or until the Lessee opens for business to the public in the Leased Premises, free of the payment of Gross Rent, and Additional Rent save for the obligation of the Lessee to pay for all utility charges used by the Lessee or consumed in the Leased Premises during the period of such fixturing, and shall during the period from the giving of such notice until the Commencement Date be a tenant in the Leased Premises subject to the same covenants and agreements as are contained in this Lease, mutatis mutandis. FURTHER PROVIDED THAT NOTWITHSTANDING ANYTHING TO THE CONTRARY, if the Lessor is unable to deliver vacant possession of the Leased Premises to the Lessee for any reason, including but not limited to the Expiration Date holding over or retention of possession of any other lessee or occupant, or the lack of completion of any repairs, improvements or alterations required to be completed before the Lessee’s occupancy of the Leased Premises, then the time for commencement of the Term shall be extended to correspond with the period of delay and the Lessee shall not be extendedentitled to any abatement or diminution of Rent (except that Rent shall not commence to be payable until possession of the Leased Premises is given by the Lessor to the Lessee) nor shall the validity of this Lease or the parties’ respective obligations hereunder be affected. Tenant acknowledges that Xxxxxx has inspected However, if the PremisesLessor does not give vacant possession of the Leased Premises to the Lessee within six (6) months of the date of this Lease, then the Lessor may, at is option, terminate this Lease by written notice to the Lessee and in such event this Lease shall be null and void and of no effect whatsoever. Any deposit paid by the Lessee to the Lessor shall be returned without interest or deduction, and neither party shall have any further liability to the other. Forthwith, upon the Commencement Date being determined in accordance with the foregoing, the Buildings Lessee shall execute an acknowledgement of same on Lessor’s usual form. The Lessee shall pay all Gross Rent and Additional Rent calculated on a per diem basis, from the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition end of the Premises, zero (0) day rent-free period to the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition last day of the Premises, month in which the Buildings Commencement Date occurs and thereafter all payments of Rent shall be made on the Property is acceptable to Tenant. Tenant accepts first day of each month throughout the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerTerm unless otherwise specified herein.
Appears in 1 contract
Samples: Lease Agreement
TERM OF LEASE. The term of this Lease shall be the term specified in the Basic Lease Information (the “"Term”), which ") shall commence on the commencement a date specified in the Basic Lease Information (the “"Lease Commencement Date”"), as defined below, and shall terminate at midnight on the day which is the tenth (10th) andanniversary of the Lease Commencement Date, unless sooner or such earlier date on which this Lease is terminated pursuant to the provisions hereof (the "Lease Expiration Date"). The Lease Commencement Date shall be that date on which Landlord notifies Tenant that the Premises is in a "substantially complete" Cold Dark Shell Condition (as hereinafter provideddefined), as certified by Landlord's architect based upon practices as are detailed by The American Institute of Architects. Landlord hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord for the Term. Landlord shall end use reasonable efforts to substantially complete Landlord's Work in accordance with the schedule set forth on the expiration date specified in the Basic Lease Information Exhibit C-2 which is attached hereto and made a part hereof (the “Expiration Date”)"Construction Schedule") on or before May 31, 2000. If However, Landlord shall in no event be liable or subject to any claim for failure to substantially complete Landlord, 's Work by such date or for any reason whatsoever, does not delay or inability to deliver possession of the Premises to Tenant on for any reason. Notwithstanding anything contained herein to the Commencement Datecontrary, this Lease shall not be void or voidable and if Landlord shall not be liable delayed in substantially completing Landlord's Work as a result of:
(a) Tenant's failure to Tenant furnish to Landlord, on or before the dates and time periods set forth in the Construction Schedule, the information, requirements and/or approvals for any loss work to be done hereunder; *CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 6
(b) Xxxxxx's request for changes in any plans subsequent to the date(s) set forth for such approval in the Construction Schedule;
(c) Tenant's failure to approve the plans, specifications or damage resulting therefromcost estimates for Additional Tenant Work (as hereinafter defined) or make any payment within the time required under Section 3 hereof;
(d) Xxxxxx's request for materials, butfinishes or installations other than Landlord's Park standard;
(e) The result of Tenant's or its agents' or employees' acts, failure to act, or failure to act in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession a timely manner;
(f) Landlord's provision for Xxxxxx's contractor to commence Xxxxxx's initial buildout of the Premises prior to completion of Landlord's Work pursuant to the Cold Dark Shell Specifications; or
(g) Delays caused by coordination of Additional Tenant Work and delivery of the Cold Dark Shell Specifications; then, solely for the purposes of determining the commencement date of Tenant's liability for Base Rent and other charges under this Lease, but such delay shall neither postpone the Expiration Lease Commencement Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected nor the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected date of substantial completion by professional consultants retained by Xxxxxx, Tenant is familiar with the condition Landlord of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any manner.
Appears in 1 contract
Samples: Deed of Lease (Equinix Inc)
TERM OF LEASE. (a) Landlord shall deliver possession of the Premises to Tenant at the times and in the manner set forth in Exhibit B, Work Letter Agreement. The term of this Lease (the “Term”) shall be the term specified in the Basic Lease Information (the “Term”)Information, which and shall commence on the commencement date specified later of: (i) May 1, 2004, or (ii) Substantial Completion of the Tenant Improvements described in the Basic Lease Information Section 2.2 (the “Commencement Date”) ); provided, however, that the Commencement Date shall not be postponed to the date of Substantial Completion of the Tenant Improvements described in Section 2.2 to the extent Substantial Completion has not occurred by May 1, 2004, as a result of any Tenant Delay, and, unless in such case, the Commencement Date shall be the date Substantial Completion would have occurred if no Tenant Delay or Delays had occurred. Unless sooner terminated as hereinafter provided, the Term shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession which shall be the last day of the Premises to Tenant on eighty-fourth (84th) month after the Commencement Date. Except for the Tenant Improvements described in Exhibit B, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property Premises or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property Premises in any manner. On the Commencement Date, Landlord will deliver the Premises to Tenant free of all other occupants and personal property, clean and free of debris, with all carpets in clean condition, and with the mechanical/HVAC, electrical, plumbing, and roof systems in good operating condition and repair. Subject to the terms and conditions of the Work Letter Agreement, and except as expressly provided otherwise in this Lease, Tenant shall accept “as is” the portions of the Premises as they are delivered by Landlord for occupancy.
(b) Tenant shall have the right to extend the Term as provided in Exhibit D hereto.
Appears in 1 contract
TERM OF LEASE. The term of this Lease shall be the term specified in the Basic Lease Information for a period of Sixty-Five Months (the “Term”), which shall commence commencing on the commencement date specified in the Basic Lease Information May 1, 2007 (the “Commencement Date”) and), unless sooner terminated provided the Commencement Date is subject to adjustment as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”)set out herein. If Landlord, for any reason whatsoever, does the Commencement Date is not deliver possession the first day of the Premises month, then the Term shall be extended to Tenant on add such partial month, so that Base Rent increases shall occur as of the Commencement Datefirst day of the month; provided however, this Lease that any abatement of Base Rent provided for in Paragraph 6 below shall not be void or voidable extended by such partial month and Base Rent for the partial month shall begin upon the end of the period of such abatement. Under no circumstances shall Landlord shall not be liable to Tenant for any loss damages which may be caused by any delay in commencing or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in completing its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability construction of the Premises or for a total failure to complete same. At the time that the Commencement Date is established, the parties will promptly, upon request of Landlord, enter into an amendment to the Lease prepared by Landlord, stipulating the Commencement Date and the expiration date of the term of this Lease as provided herein (the “Commencement Date Amendment”). The parties covenant and agree that this Lease shall not be recorded; provided, however, that upon written request of either Landlord or Tenant, a Memorandum of Lease prepared by, and in form and content satisfactory to, Landlord describing the property herein demised, giving the term of this Lease and the name and address of Landlord and Tenant and referring to this Lease (but containing no other terms or provisions hereof except as may be permitted or required by Landlord) shall be properly executed, acknowledged and delivered by both parties. Such Memorandum of Lease may be recorded by either party at its expense. If the Commencement Date, expiration date or Term of this Lease is amended as evidenced by a Commencement Date Amendment, then at the request of any utility systems serving party, each party agrees to properly execute, acknowledge and deliver an Amendment to Memorandum of Lease, referring to the Premises for original Memorandum of Lease, which shall be prepared by Landlord, describing the revised Commencement Date, Expiration Date and Term of the Lease, but containing no other terms or provisions hereof (except as permitted or required by Landlord), which Amendment to Memorandum of Lease may be recorded by either party at its expense. In the event that Tenant fails to execute, acknowledge and deliver such Commencement Date Amendment, Memorandum of Lease or Amendment of Memorandum of Lease within ten (10) days after Landlord's notice of request therefore, Tenant does hereby make, constitute and irrevocably appoint Landlord as its attorney in fact and in its place and stead so to do, unless Landlord receives written notice from Tenant of Tenant’s purposes), and Tenant is relying solely on its own investigation dispute of the Premises, the Buildings Commencement Date and the Propertyexpiration date within fifteen (15) days of that same Landlord’s notice of request. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair The Commencement Date and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property expiration date set forth in any mannersuch Commencement Date Amendment shall incontestably bind the parties hereto, regardless of whether Tenant signs or whether Landlord signs for Tenant as Tenant’s attorney in fact.
Appears in 1 contract
Samples: Lease Agreement (Spacedev, Inc.)
TERM OF LEASE. 3.1 The term of this Lease (the "Lease Term") shall be the period set forth in Item 1.4 of the Basic Lease Provisions. Subject to the terms and conditions of this Lease, the Lease Term shall commence on the Commencement Date and shall terminate on the Termination Date, which dates are specified in Item 1.4 of the Basic Lease Provisions.
3.2 The term of this Lease shall be the term specified in the Basic Lease Information one hundred twenty (the “Term”), which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”120) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant months commencing on the Commencement DateDate (the "Lease Term"). The Commencement Date shall occur thirty (30) days following Landlord's "Substantial Completion" (as defined in this Paragraph 3.2) of the "Base Building Improvements" (as described in the attached Exhibit F-2) and the Initial Improvement Work as described in Exhibit F and depicted in Exhibit F-1. In no event shall the Commencement Date occur prior to October 1, this Lease shall not be void 2005. In the event Substantial Completion of the Base Building Improvements or voidable and Landlord shall not be liable to the Initial Improvement Work is delayed as a result of any act, omission or interference by Tenant for any loss or damage resulting therefrom("Tenant Delay"), but, in such event, then the Commencement Date shall be postponed until deemed to have occurred on the date that Substantial Completion could have first occurred, but for such delay. As used herein, the term "Substantial Completion" shall mean the date on which Landlord delivers possession (i) all Building systems and all major components of the Premises to Base Building Improvements and Initial Improvement Work have been completed; and (ii) Landlord provides Tenant with Landlord's certificate stating that, except for minor corrective work which will not materially interfere with Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition 's beneficial occupancy of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition all material aspects of the PremisesInitial Improvement Work have been completed. If Landlord so desires, Landlord and Tenant shall execute a Lease Addendum in the Buildings form attached to this Lease as Exhibit C, confirming the actual Commencement Date and Termination Date. If Substantial Completion does not occur by October 1, 2005, then Landlord agrees that it shall provide Tenant a rent credit of Seven Hundred and Fifty Two and 00/100ths Dollars ($752.00) ("Rent Credit") for each day beyond October 1, 2005 (excluding any days beyond October 1, 2005 resulting from any Tenant Delay) until Substantial Completion occurs. If Substantial Completion has not occurred by December 31, 2005 then either party may elect to terminate this lease by providing written notice to the Property is acceptable other party, in no case however shall Landlord be responsible for providing Rent Credit for a delay in Substantial Completion beyond December 31, 2005. Any accrued Rent Credit shall be applied first to Tenant. Tenant accepts the Premises in its “AS IS” conditionsecond month's rent, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect additional credit to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise be applied to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannersubsequent months.
Appears in 1 contract
Samples: Single Tenant Industrial Lease (Target Logistics Inc)
TERM OF LEASE. 2.1 The Landlord leases unto the Tenant, and the Tenant hires the Leased Premises for the term of this Lease shall be the term specified in the Basic Lease Information ten (the “Term”), which shall 10) years to commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated Date as hereinafter provideddefined: Commencement Date shall be September 1, shall end on 1999, or the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession first day of the calendar month on or following the date when the Leased Premises are ready for occupancy. The Leased Premises shall be deemed ready for occupancy when the Leased Premises are substantially completed in Landlord's reasonable judgment in accordance with Article 3 hereof, and Landlord has procured from the appropriate municipal agency and delivered to Tenant on a temporary or permanent Certificate of Occupancy for the Leased Premises, which Certificate of Occupancy shall permit legal occupancy and use of the Leased Premises.
2.2 During any partial monthly occupancy prior to the Commencement Date, Tenant shall be responsible to pay pro rata Base Rent, together with pro rata charges or additional rent as in this Lease lease provided. During said period of partial monthly occupancy, the Tenant shall comply with all other terms and conditions of the lease upon the part of the Tenant to be performed.
2.3 It is expressly understood and agreed that for the purpose of this lease wherever and whenever the term "substantial completion" is used, the term "sub-stantial completion" shall not include items of maintenance, service or guarantee which may be void required pursuant to the terms and conditions of this lease.
2.4 Tenant agrees that it will furnish to Landlord, within thirty (30) days after the Commencement Date of the lease, a "Punch List" of all items required to be corrected, replaced or voidable and completed by Landlord as soon as practicable after receipt of the written Punch List.
2.5 If, despite using reasonable commercial efforts, Landlord shall be unable to give possession of the Leased Premises on the anticipated Commencement Date by reason of the fact that Leased Premises are not then "ready for occupancy" for any reason, Landlord shall not be liable subject to Tenant any liability for any loss or damage resulting therefrom, but, in such eventfailure. Under such circumstances, the rent reserved and covenanted to be paid herein shall not commence until the possession of the Leased Premises is given. No such failure to give possession on the anticipated Commencement Date shall be postponed until in any way affect the date on which Landlord delivers possession validity of this lease or the Premises to Tenant, but the Expiration Date shall not be extended. obligations of Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and usehereunder, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property same be construed in any mannerway to extend the term of this lease.
Appears in 1 contract
Samples: Lease Agreement (Lifecell Corp)
TERM OF LEASE. 1.1. Lessor hereby grants Lease to the Lessee and the Lessee takes on lease for an initial period of 10years with effect from (“Lease Commencement Date”), the Premises as more particularly described and as per the plan enclosed and marked as Annexure-A together with the right to only use the common areas included in the super built-up area in NBCC Commercial Business Centre along with other lessees/ occupants in the said building. If the Lessee is interested in the renewal of the lease, it shall make a request in writing to the lessor at least 6months before the expiry of the lease. The Lessor shall however have the sole discretion to renew the lease for a further term on such terms and conditions, as may be mutually agreed. At the time of each renewal, fresh lease deed(s) shall be executed, stamped, and registered between the Parties hereto.
1.2. It is agreed between the Parties that the Lessee shall make payment of the stamp duty along with the registration fee of this Lease Deed.
1.3. That the Lessee shall be the term specified in the Basic Lease Information (the “Term”), which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver take possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void its own or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, butthrough its authorized representative, in such terms of failing which the Lessor shall forfeit the entire deposit amount as mentioned hereunder and paid by the Lessee to the Lessor and in that event, the Lessee shall be left with no right or interest in the Premises. The Lease Rent as stipulated herein shall commence from the Lease Commencement Date shall be postponed until i.e. irrespective of whether the date on which Landlord delivers Lessee takes physical possession of the Premises to Tenantfrom the Lease Commencement Dater or at a later date.
1.4. That the Parties herein agreed that except as provided for in clause 3 hereinafter, but the Expiration Date shall Lease cannot be extendedterminated by either Party for any reason whatsoever before the expiry of 5 years from the Lease Commencement Date (hereinafter referred to as Lock In Period). Tenant acknowledges In case Lessee chooses to vacate the Premises at any point of time prior to Lock-in Period, in that Xxxxxx has inspected the Premisesevent, the Buildings Lessee shall be liable to pay the agreed Rent for the balance and unexpired stipulated Lock-in Period.
1.5. That upon the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition expiry of the Premises, the Buildings Term of Lease or its earlier termination as stated hereinafter Lessee shall hand over vacant and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability peaceful possession of the Premises only to the Lessor or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep nominee authorized in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerthis Deed.
Appears in 1 contract
Samples: Lease Deed
TERM OF LEASE. The term This Lease is effective, subject to the Conditions Precedent contained in Article 3, as of this Lease Effective Date. However, the Term shall be the term specified in the Basic Lease Information (the “Term”), which measured from and shall commence on the commencement date specified Term Commencement Date (assuming the conditions set forth in Article 3 are satisfied) and shall terminate at 11:59 p.m. on the Basic Lease Information (day prior to the “Commencement Date”) and40th anniversary thereof, unless if not sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If LandlordAt least one (1) year but no more than three (3) years prior to the Expiration Date, for any reason whatsoever, does not deliver possession Tenant shall notify Landlord in writing of its desire to remain in occupancy of the Premises Leased Premises. After receipt of Tenant’s notice, Tenant and Landlord shall negotiate a new lease for Tenant’s occupancy of the Leased Premises. Landlord’s Board of Education shall accept or reject the terms and conditions of said new lease as it deems appropriate and prudent prior to any execution of said new lease by Landlord. If the parties cannot mutually agree upon the terms and conditions of a new lease for Tenant’s occupancy of the Leased Premises, Landlord may require and Tenant on agrees to execute a Proposition 39 occupancy/use agreement for a school year, a 30-day license or such other instrument that will allow Landlord and Tenant to continue to negotiate and mutually agree upon the Commencement Date, terms and conditions of Xxxxxx’s occupancy of the Leased Premises. The term of this Lease shall not automatically extend regardless of any renewal of Tenant’s charter petition because Landlord’s Board of Education should be void or voidable and Landlord shall not be liable provided with the opportunity to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession review Tenant’s occupancy of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Leased Premises, the Buildings proposed terms and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, conditions under which Tenant is familiar with the condition will continue its occupancy of the Premises, the Buildings Leased premises and the Property, the Premises, the Buildings make a reasonable decision regarding said proposed terms and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any manner.
Appears in 1 contract
Samples: Charter School Lease Agreement
TERM OF LEASE. (a) The term of this Lease shall be the term for fifteen (15) years, subject to extension or termination as specified in the Basic Lease Information (the “Term”)herein, which shall commence on the commencement date specified in the Basic Lease Information as of September 1, 2000 (the “"Commencement Date”") and, unless sooner terminated or extended as hereinafter provided, shall end on the expiration date specified in immediately preceding the Basic Lease Information fifteenth (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession 15th) anniversary of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until (the date on which Landlord delivers possession of the Premises to Tenant, but the "Expiration Date shall not be extended. Date").
(b) Tenant acknowledges that Xxxxxx Tenant has inspected previously owned and occupied the Premises, the Buildings Premises and the Property or has had the PremisesProperty, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings Premises and the Property, the Premises, the Buildings Premises and the Property are suitable for Tenant’s purposes, 's purposes and the condition of the Premises, the Buildings Premises and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including Except with respect to (i) Landlord's obligations expressly set forth in this Lease and (ii) Landlord's obligations described in subparagraph (c) of this section 2.1 that are to be ----------- governed by the suitability Separation Agreement, as defined in subparagraph (c) of the Premises or any utility systems serving the Premises for Tenant’s purposes)this section 2.1, and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings Premises or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings Premises or the Property, and subject to such obligations, Tenant accepts the Premises "as is" on the Commencement Date.
(c) Landlord and Tenant acknowledge (i) that they are parties to a certain Separation Agreement, dated September 1, 2000 (the "Separation Agreement") regarding the receipt and assumption by Monsanto Company [Landlord hereunder] certain assets and liabilities from Pharmacia Corporation [Tenant hereunder], and that (ii) the Separation Agreement contains certain indemnity rights and obligations between Landlord and Tenant that are to apply to the parties' relationship in connection with the Property, except to the extent this Lease includes provisions that are intended to replace such indemnity provisions of the Separation Agreement. The parties hereby agree that nothing in this Lease is intended to replace the indemnity provisions of the Separation Agreement to the extent they apply to rights and obligations arising out of or related to events that occurred or conditions that existed prior to the Commencement Date of this Lease. The parties further agree that this Lease is intended to replace the indemnity provisions of the Separation Agreement to the extent such provisions of the Separation Agreement relate to the Property in any mannerand apply to rights and obligations arising out of or related to events that occur or conditions that come into existence after the Commencement Date of this Lease.
Appears in 1 contract
Samples: Campus Lease (Monsanto Co /New/)
TERM OF LEASE. A. The Landlord leases unto the Tenant, and the Tenant hires the Demised Premises for the term of One Hundred Twenty (120) months to commence on the Commencement Date as hereinafter defined: Commencement Date shall be on January 1, 1995 or the first day of the calendar month on or following the date when the Demised Premises are ready for occupancy whichever is later. The Demised Premises shall be deemed ready for occupancy when the Demised Premises are substantially completed in Landlord's reasonable judgment in accordance with Exhibit #2 annexed hereto, and Landlord has procured from the appropriate municipal agency and delivered to Tenant a Certificate of Occupancy for the Demised Premises and appurtenances, which Certificate of Occupancy shall permit legal occupancy and use the Demised Premises.
B. During any partial monthly occupancy prior to the commencment date, Tenant shall be responsible to pay pro-rata rent, together with pro-rata charges or Additional Rent as in this Lease provided. During said period of partial monthly occupancy, the Tenant shall comply with all other terms and conditions of the Lease upon the part of the Tenant to be performed.
C. It is expressly understood and agreed that for the purpose of this Lease, whereever and whenever the term "substantial completion" is used, the term "substantial completion" shall not include items of maintenance, service or guarantee which may be required pursuant to the terms and conditions of this lease.
D. Tenant agrees that it will furnish to Landlord, within thirty (30) days after the Commencement Date or occupancy, whichever is later, a "Punch List" of all items required to be corrected, replaced or completed by Landlord as soon as practicable after receipt of the written Punch List.
E. If Landlord shall be unable to give possession of the Demised Premises on the Commencement Date by reason of the fact that the Demised Premises have not been sufficiently completed to make them "ready for occupancy" for any reason, Landlord shall not be subject to any liability for such failure. Under such circumstances, the rent reserved and rent credit covenanted to be paid herein shall not commence until the possession of the Demised Premises is given. No such failure to give possession on the Commencement Date shall in any way affect the validity of this Lease or the obligations of Tenant hereunder, nor shall same be construed in any way to extend the term of this Lease shall be the term specified in the Basic Lease Information (the “Term”), which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”)lease. If Landlord, for any reason whatsoever, does not deliver permission is given to tenant to enter into possession of the Demised Premises prior to Tenant on the Commencement Date, Tenant convenants and agrees that such occupancy shall be deemed to be under all the terms, covenants, conditions and provisions of this Lease shall not be void or voidable and Landlord shall not be liable to Lease. Any prior occupancy by Tenant for any loss reason shall not cause Landlord, as a result thereof, to be subjected to any jurisdictional labor problems which may prejudice Landlord's negotiations or damage resulting therefromrelationship with Landlord's contractors or subcontractors or as may disturb harmonious labor relations, but, in such event, and Landlord reserves the Commencement Date right to summarily order any of Tenant's contractors or subcontractors from the Demised Premises if their presence causes any disturbance of harmonious labor relations.
F. If Landlord shall be postponed until the date on which Landlord delivers unable to give possession of the Demised Premises for any reason by January 1, 1995 then either Landlord or Tenant shall have the option to Tenant, but terminate this Lease by giving written notice of such election to the Expiration Date shall other party not later than ten (10) days thereafter. In such event Tenant will not be extended. responsible for the pro-rata share of building operating costs in accordance with Article 2G.
G. The Tenant acknowledges that Xxxxxx has inspected the Premiseswill have Two (2) Five (5) year options to renew at market rates, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect exercisable six months prior to the suitability expiration of each term provided the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant Lease is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep not in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerdefault.
Appears in 1 contract
Samples: Lease Agreement (Osteotech Inc)
TERM OF LEASE. Section 2.1 The term of this Lease shall be the term specified in the Basic Lease Information for a period of one (the “Term”), which shall 1) year and commence on the commencement earlier of October 15, 2002 or the date specified Tenant occupies the Leased Premises and commences using the same for business purposes (the "Lease Commencement Date"), and shall end on October 14, 2003 (the "Expiration Date").
Section 2.2 Tenant shall have access to the Leased Premises on or before the Lease Commencement Date for the purpose of installing Tenant's leasehold improvements and installing its fixtures and equipment provided that Tenant furnishes to Landlord satisfactory certificates of insurance from such companies and in such form and amounts as shall be approved by Landlord, whose approval will not be unreasonably withheld from Tenant. Such certificates of insurance shall include, but not be limited to, workers compensation insurance covering all persons employed by Tenant in and about the Leased Premises; public liability insurance and property damage insurance; and Tenant shall carry insurance against fire, theft and such other risks as are from time to time included in a standard-extended coverage insurance for the full insurable value of all improvements provided by Tenant. Any insurance policies required to be carried by this section shall name Landlord as an additional insured and shall have provision for at least ten (10) days' notice to Landlord of cancellation. At least ten (10) days before the expiration of such policy, Tenant will supply Landlord with a substitute therefore with evidence of payment of the premiums thereof. Landlord shall perform the work required of Landlord as outlined in Exhibit "B" annexed hereto. All work other than that to be prepared by Landlord in order to ready the Leased Premises for Tenant's occupancy shall be prepared by Tenant. Tenant shall perform its work in a manner that does not interfere with Landlord's construction work and in accordance with the standards set forth in Exhibit "C". Failure of Landlord to deliver actual possession of said Leased Premises at the time and in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated as hereinafter condition herein provided, shall end on postpone the Lease Commencement Date of this Lease and extend the date of the expiration date specified in thereof for a period of time equal to that which shall have elapsed between the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until and the date on which Landlord delivers possession of the Leased Premises are delivered to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation liability for failure to construct or install any improvements in deliver actual possession on the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerLease Commencement Date set forth herein.
Appears in 1 contract
TERM OF LEASE. The term of this Lease shall be the term specified in the Basic Lease Information (the “Term”)BASIC LEASE INFORMATION, which shall commence on the commencement date specified in the Basic Lease Information BASIC LEASE INFORMATION (the “"Commencement Date”") and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information BASIC LEASE INFORMATION (the “"Expiration Date”"). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but Tenant and the Expiration Date shall not be extendedextended for an equal period (subject to adjustment in accordance with section 2.3 hereof). Tenant acknowledges that Xxxxxx Tenant has inspected the Premises, the Buildings Premises and the Property or has had the Premises, the Buildings Premises and the Property inspected by professional consultants retained by Xxxxxx, Tenant. Tenant is familiar with the condition of the Premises, the Buildings Premises and the Property, the Premises, the Buildings Premises and the Property are suitable for Tenant’s 's purposes, and and, except for the improvements to be constructed or installed by Landlord pursuant to Exhibit B (if any), the condition of the Premises, the Buildings Premises and the Property is acceptable to Tenant. Tenant accepts Except for the Premises in its “AS IS” condition, with all faults, without any covenant, representation improvements to be constructed or warranty of any kind or nature whatsoever, express or implied installed by Landlord pursuant to Exhibit B (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposesif any), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings Premises or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings Premises or the Property in any manner, and Tenant shall accept the Premises "as is" on the Commencement Date.
Appears in 1 contract
Samples: Sublease (Build a Bear Workshop Inc)
TERM OF LEASE. The Landlord leases unto the said Tenant and the Tenant hires the aforementioned premises for the term of ten (10) years, to commence on or about March 1, 1979, and to end on the 28th day of February, 1989, the obligation of the Tenant hereunder being subject to the following proviso:
2.1 That on or about March 1, 1979, the Landlord shall have substantially completed the building according to the plans and specifications and shall deliver to the Tenant a Certificate of occupancy issued by the authorized issuing officer of the governmental instrumentality having jurisdiction thereof, and an Architect's Certificate by the Architect preparing the plans and specifications, that based on visual inspection, the Building is substantially completed. Upon the delivery by the Landlord to the Tenant of the leased premises, and the certification and Certificate of Occupancy hereinabove mentioned, the lease term shall commence and the Tenant's obligation to pay rent shall begin (subject to the provisions of subparagraph 2.2 hereof).
2.2 Subject to the terms and conditions of this Lease shall be the term specified lease, in the Basic Lease Information event the premises are delivered to the Tenant in the manner provided in subsection 2.1 above, prior to or after March 1, 1979, the lease term of ten (the “Term”), which 10) years shall commence on the commencement date specified in first day of the Basic Lease Information next succeeding month following delivery of possession to the Tenant (hereinafter called the “"Commencement Date”") andand shall continue for a term of ten (10) years thereafter. The Tenant shall, unless sooner terminated as hereinafter providedhowever, shall end on pay to the expiration date specified in Landlord a sum equal to the Basic Lease Information pro rata share of one (the “Expiration Date”). If Landlord, 1) month's rent for any reason whatsoever, does not deliver possession that portion of the Premises month prior to Tenant on the Commencement Date. During said period of partial monthly occupancy, if any, all other terms and conditions of this Lease lease shall be applicable to the occupancy of the leased premises by the Tenant.
2.3 It is expressly understood and agreed that for the purpose of this lease, wherever and whenever the term "substantial completion" is used, the term "substantial completion" shall not include items of maintenance, service or guarantee, which may be void or voidable required pursuant to the terms and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date conditions of this agreement. The Building and improvements shall be postponed until considered substantially completed upon the date on which Landlord delivers possession issuance of a Certificate of Occupancy, and Certification of the Premises to Tenant, but Architect that the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx Building has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect been completed according to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), plans and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerspecifications as aforementioned.
Appears in 1 contract
TERM OF LEASE. The TO HAVE AND TO HOLD the Leased Premises for and during the term of this Lease shall six (6) years to be computed from and fully to be completed and ended on save as hereinafter provided for earlier termination. PROVIDED THAT if there is any Lessor’s Work or Lessee’s Work to be performed prior to the term specified Lessee opening for business in the Basic Lease Information (Leased Premises or the “Term”), which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated Leased Premises are occupied by a third party as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, date of this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such eventLease, the Commencement Date shall be postponed until the date on which Landlord delivers earlier of:
a) sixty (60) days after the Lessor has delivered vacant possession of the Leased Premises to Tenantthe Lessee notwithstanding that the Lessor may still, during such sixty (60) day period, be completing its work; or
b) the opening by the Lessee to the public of its business in the Leased Premises. Notwithstanding any change in the Commencement Date calculated in accordance with the preceding provisions hereof, the Terms shall expire on the date set for such expiry in the first paragraph of this Section 2.03, subject always to earlier termination as provided for in this Lease. PROVIDED THAT upon the Lessor or its Architect giving notice to the Lessee that the Leased Premises are available for the commencement of the Lessee’s Work, the Lessee shall immediately take possession of the Leased Premises and shall occupy same for the purpose of fixturing and installing its inventory, at its own risk, for a period of zero (0) days after receipt of such notice or until the Lessee opens for business to the public in the Leased Premises, free of the payment of Gross Rent, and Additional Rent save for the obligation of the Lessee to pay for all utility charges used by the Lessee or consumed in the Leased Premises during the period of such fixturing, and shall during the period from the giving of such notice until the Commencement Date be a tenant in the Leased Premises subject to the same covenants and agreements as are contained in this Lease, mutatis mutandis. FURTHER PROVIDED THAT NOTWITHSTANDING ANYTHING TO THE CONTRARY, if the Lessor is unable to deliver vacant possession of the Leased Premises to the Lessee for any reason, including but not limited to the Expiration Date holding over or retention of possession of any other lessee or occupant, or the lack of completion of any repairs, improvements or alterations required to be completed before the Lessee’s occupancy of the Leased Premises, then the time for commencement of the Term shall be extended to correspond with the period of delay and the Lessee shall not be extendedentitled to any abatement or diminution of Rent (except that Rent shall not commence to be payable until possession of the Leased Premises is given by the Lessor to the Lessee) nor shall the validity of this Lease or the parties’ respective obligations hereunder be affected. Tenant acknowledges that Xxxxxx has inspected However, if the PremisesLessor does not give vacant possession of the Leased Premises to the Lessee within six (6) months of the date of this Lease, then the Lessor may, at is option, terminate this Lease by written notice to the Lessee and in such event this Lease shall be null and void and of no effect whatsoever. Any deposit paid by the Lessee to the Lessor shall be returned without interest or deduction, and neither party shall have any further liability to the other. Forthwith, upon the Commencement Date being determined in accordance with the foregoing, the Buildings Lessee shall execute an acknowledgement of same on Lessor’s usual form. The Lessee shall pay all Gross Rent and Additional Rent calculated on a per diem basis, from the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition end of the Premises, 60 day rent-free period to the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition last day of the Premises, month in which the Buildings Commencement Date occurs and thereafter all payments of Rent shall be made on the Property is acceptable to Tenant. Tenant accepts first day of each month throughout the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerTerm unless otherwise specified herein.
Appears in 1 contract
Samples: Lease Agreement
TERM OF LEASE. (a) Contractual parties agree that the lease last for 6 years from the day of entry into the Leased Premises (“Initial Term”). The term Agreement shall take effect upon issuance of this Lease a certificate of occupancy (or something similar) by a local governmental authority (“Effective Date”), and after the parties sign the report of occupancy of the Leased Premises whereupon the lease agreements for the two buildings Lessee currently occupies shall be terminated and any conflicting or inconsistent terms found in those lease agreements shall be superseded this Agreement.
(b) Lessee shall have the option to renew the lease for an additional term specified in (“Option Term”) of five (5) years (the Basic Lease Information (Initial Term and the exercised Option Term sometimes collectively referred to hereinafter as the “Term”), which . All terms and conditions of this Agreement shall commence on be applicable during the commencement date specified in Option Term. Lessee may exercise its right to an Option Term under the Basic Lease Information following terms and conditions no later than one hundred and eighty (the “Commencement Date”180) and, unless sooner terminated as hereinafter provided, shall end on days prior to the expiration date specified in of the Basic Lease Information (Initial Term, if applicable, the “Expiration Date”)Lessee must submit written notification to Lessor of Lessee’s desire to renew the lease for the Option Term. If LandlordNeither party shall be entitled to unilaterally terminate this Agreement before the expiration of the Term, for any reason whatsoeverexcept as otherwise expressed within this Agreement. Upon the expiration or other termination of the Term, does not deliver Lessee will immediately vacate and surrender possession of the Leased Premises to Tenant on in good order, repair and condition, except for ordinary wear and tear. Upon the Commencement Date, this Lease shall not be void expiration or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession other termination of the Term, Lessee agrees to remove (a) all changes, additions and improvements to the Leased Premises the removal of which Lessor requested at the time Lessor consented to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposestheir installation, and (b) all of Lessee’s trade fixtures, office furniture, office equipment and other personal property. Lessee will reimburse Lessor the condition cost of repairing any damage to the Premises, Leased Premises caused by the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty removal of any kind such items. Any of Lessee’s property remaining in the Leased Premises will be conclusively deemed to have been abandoned by Lessee and may be appropriated, stored, sold, destroyed or nature whatsoever, express otherwise disposed of by Lessor without notice or implied (including with respect obligation to the suitability of the Premises account to or any utility systems serving the Premises for Tenant’s purposes)compensate Lessee, and Tenant is relying solely Lessee will pay Lessor on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning demand all costs incurred by Lessor relating to such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerabandoned property.
Appears in 1 contract
Samples: Lease Agreement (Telvent Git S A)
TERM OF LEASE. The initial term of this Lease shall be the term specified in the Basic Lease Information (the “"Initial Term”), which ") shall commence on the commencement Delivery Date (defined in Section 1.3 below) as such date may be extended until (i) the date of Substantial Completion of the Landlord's Improvements (as defined in the Work Letter) ("Commencement Date"); provided Tenant shall be permitted by the City to occupy and use the Premises at such time. The Initial Term shall end on the date which is eighty-six (86) months after the Commencement Date unless sooner terminated pursuant to the terms of this Lease. Any reference to the Term of this Lease or similar reference shall be a reference to the Initial Term together with any renewal terms of this Lease specified in Article 17. Any reference to Lease Year shall refer to each consecutive twelve (12) month period during the Term commencing on the Commencement Date. For purposes of this Lease, a "Lease Month" shall be defined as those successive calendar month periods beginning with the Commencement Date and continuing through the Initial Term or any Renewal Term of this Lease.
1.2.1 ACKNOWLEDGMENT OF COMMENCEMENT DATE. Tenant shall, within ten (10) business days of request therefor by Landlord, execute an acknowledgment of the Commencement Date prepared by Landlord in the form of Exhibit "D" attached hereto and incorporated herein ("Commencement Date Acknowledgment"), provided, however, that the failure of Tenant to execute such acknowledgment shall not affect any obligation of Tenant hereunder or the Landlord's determination of the Commencement Date. If the Tenant fails to execute and deliver such Commencement Date Acknowledgment or provide written notice of Tenant's disagreement with the contents thereof, then Landlord may deliver a written reminder notice. If Tenant fails to respond in writing to the written reminder notice within five (5) days, Landlord may deliver a second written reminder notice. If Tenant fails to respond in writing to the second written reminder notice within five (5) days, then Landlord and any prospective purchaser or encumbrancer may conclusively presume and rely upon the fact that the Commencement Date is the date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerAcknowledgment.
Appears in 1 contract
TERM OF LEASE. The This Contract shall be for a period of three (3) years, commencing on September 19, 2007 and automatically terminated on September 18, 2010 subject to renewal for another three (3) years, upon such terms and conditions to be mutually agreed upon by the parties. In case the LESSEE decides not to renew the contract; it must inform the LESSOR in writing at least sixty (60) calendar days before expiry of the lease term. Should the LESSEE holdover and remain in possession of the premises after the expiration or its renewal or extension without the LESSOR’S consent, such holdover or continuous possession shall not be deemed as a renewal of the lease, and the LESSEE shall be obliged to pay a monthly rent equivalent to one hundred fifty percent (150%) of the basic rent without prejudice to any right of the LESSOR to file an ejectment suit to compel recovery of the premises and recover whatever damages it may suffer because of unlawful detainer. No interruption in the physical possession by the LESSEE for any reason shall serve to extend the term of this Lease lease. The LESSOR shall be entitled to the term specified immediate recovery of the possession of the Leased Premises upon such automatic termination, without the necessity of any previous notice or demand, or of any judicial action for ejectment or recession; provided, however, that the continued possession by LESSEE of the Leased Premises for fifteen (15) calendar days or more after the said automatic termination of this Contract shall never be interpreted as implied renewal thereof, the provisions of Article 1670 of the new Civil Code to the contrary notwithstanding, and no matter how long LESSEE may continue the illegal possession of the Leased Premises thereafter, LESSOR shall always retain the right to eject LESSEE pursuant to the provisions of Sections 38 (a) and 38 (b) herein-below, which sections shall continue to have full force and effect; provided, finally, that if the LESSEE should persist in occupying the Basic Lease Information Leased Premises without any valid lease contract in writing after the expiration or earlier termination of this Contract, then LESSEE shall be liable to pay LESSOR such reasonable value for the use and enjoyment of said Leased Premises as may be determined by LESSOR in its sole discretion, over and above any damages. The Parties agree that the Lessee shall be given a two (the “Term”), 2) months rent-free fit out period which shall commence on July 19, 2007 until September 18, 2007, provided that, utilities and Common Area Charges for this period shall be for the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession exclusive account of the Premises to Tenant on Lessee. Moreover, during the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such eventsaid fit-out period, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to TenantLESSEE, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premisesits officers, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposesemployees, and agents are permitted to enter the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Leased Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation the purpose of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair renovating the same, or any portion thereof. Landlord provided that improvements to be made on the premises shall have no obligation be subject to construct or install any improvements in appropriate permits and licenses and/or approvals by Landev Corporation as administrators of the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerbuilding.
Appears in 1 contract
TERM OF LEASE. The term of (a) Landlord and Tenant intend that this Lease shall be the term specified in the Basic Lease Information (the “Term”), which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated binding and effective as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession of the Premises date set forth above. Notwithstanding the foregoing, except for performance and payment obligations which by their nature are to Tenant on be performed prior to the Commencement Date, this Lease shall such as, but not be void or voidable limited to, payment of first month’s rent pursuant to paragraph 5(a), right to early access pursuant to Paragraph 2(f) and the performance obligations in connection with construction of the Building and other site improvements pursuant to Schedule F, the payment and performance obligations of Tenant and Landlord shall begin as of the Commencement Date.
(b) Landlord leases unto Tenant and Tenant hires the aforementioned Leased Premises for the Lease Term as set forth in the Lease Agreement Summary and any Renewal Lease Term, if applicable.
(c) If Landlord is unable to give possession of the Leased Premises Delivery Date set forth in paragraph 6 of Schedule F the Tenant shall have the remedies available to it in Paragraph 42 and in Schedule F in addition to any other remedies available to it at law or in equity.
(d) Within three (3) business days of Tenant taking occupancy, or Landlord tendering possession, of the Leased Premises, Landlord and Tenant shall execute a Commencement Date Certificate memorializing the commencement date and expiration date of the initial Lease Term subject to standard “punch list” items customary for new construction.
(e) Notwithstanding the foregoing or any other provision of this Lease to the contrary, this Lease is subject to the condition that the Building and the common areas be completed in accordance with the Outline Specifications attached as Schedule B. Landlord shall prepare final plans and specifications for the Building (“Final Plans”) which shall conform substantially to the Outline Specifications and be subject to the approval, in writing, of by Landlord and Tenant, such approval not to be liable unreasonably withheld, conditioned or delayed, and after such approval the Final Plans shall be deemed incorporated as part of this Lease by reference and replacing Schedule B. Construction of the Building shall be completed in a timely manner and in substantially as provided in the Final Plans and the Preliminary Construction Schedule which is part of the Construction Provisions attached to this Lease as Schedule F.
(f) Providing that Tenant does not interfere with the performance of any of Landlord’s contractors, Tenant shall be permitted immediate access to the Leased Premises for the purpose of construction of Tenant specific tenant improvements and the installation of Tenant’s personal property, including, but not limited to, furniture, fixtures and equipment. During the period of such access by Tenant (i) Tenant releases Landlord for any loss or damage to any of Tenant’s personal property in the Leased Premises, from any cause whatsoever, including, without limitation, fire or theft and acknowledges its obligation to insure against such loss or damage, and (ii) Tenant shall indemnify and defend Landlord against any and all claims, losses, expenses or liability(ies) arising from any injury (including death) to any of Tenant’s employees, or Tenant’s contractor’s or subcontractor’s employees, and any property damage occurring during the performance of any of Tenant’s work at the Leased Premises and (iii) shall carry or cause others to carry liability insurance against any such personal injury or property damage naming Landlord as an additional insured. Notwithstanding anything therein to the contrary, the foregoing release and indemnification set forth in clauses (i) and (ii) of this Paragraph 2(f) shall not extend to any claims, losses, expenses or liability(ies) (1) arising from occurrences for which Landlord indemnifies Tenant as provided in Paragraph 8(f) or (2) resulting therefromfrom the gross negligence of Landlord or its agents, butservants, employees or contractors. Tenant’s access shall be without liability for payment of Rent, taxes, Landlord’s insurance, Operating Expenses (as hereafter defined) or utilities, liability for all of which shall start as of the Commencement Date. In the event that Landlord determines, in its reasonable discretion, that the performance of Tenant’s work is interfering with Landlord’s contractors, including, without limitation, by reason of labor disharmony, Landlord may give Tenant telephone notice of such eventdetermination and Tenant shall cause such work or storage to cease within 24 hours. Thereafter the parties shall attempt in good faith to resolve their dispute. If the parties cannot resolve their dispute within two business days, the Commencement Date shall procedures set forth in Section 5(a)(2) of this Lease, as applicable, may be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected invoked by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannereither party.
Appears in 1 contract
Samples: Lease Agreement (PharMEDium Healthcare Holdings, Inc.)
TERM OF LEASE. The term Term of this Lease shall be the term specified in the Basic Lease Information (the “Term”), which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) andwhich is the first to occur of (i) the first day following the end of the Tenant’s Work Period, unless sooner terminated as hereinafter providedprovided that the Commencement Date Conditions set forth in Exhibit C have been satisfied; or (ii) the date Tenant initially opens the Premises for business to the general public. Upon substantial completion of Tenant’s Work pursuant to the Work Letter, shall end on the expiration date specified in the Basic Lease Information Tenant’s architect (the “Expiration DateTenant’s Architect”). If Landlord, for any reason whatsoever, does not deliver possession ) will measure the Floor Area of the Building, and certify the Floor Area to Landlord and Tenant. In no event shall the actual size of the Building be less than ninety-nine percent (99%) or more than one hundred one percent (101%) of 65,219 square feet of Floor Area. Tenant shall not be deemed to have initially opened the Premises for business to the general public during any period during which Tenant opens for business with a special preview on an invitation-only basis or with other special activities, which do not provide theater revenues to Tenant. The Term shall expire on the day immediately preceding the fifteenth (15th) Anniversary of the Commencement Date, this Lease subject to extension pursuant to Section 3.3 (in which case the Term shall not be void or voidable expire on the last day of the Extension Term, subject, if applicable, to further extension pursuant to Section 3.3) and, if applicable, subject to extension pursuant to Section 3.4. Within ten (10) days after the Commencement Date, Tenant and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, butexecute a supplement hereto, in such eventform and substance satisfactory to Landlord and Tenant acting reasonably and in good faith, setting forth the Commencement Date shall be postponed until and the scheduled termination date on which Landlord delivers possession of the Premises to TenantInitial Term, the Floor Area of the Building, the initial Base Rent and the initial Percentage Rent Breakpoint, but the Expiration Date failure to do so shall not be extended. Tenant acknowledges that Xxxxxx has inspected affect the Premisesactual Commencement Date, the Buildings and Floor Area of the Property or has had the PremisesBuilding, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation initial Base Rent or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerinitial Percentage Rent Breakpoint.
Appears in 1 contract
TERM OF LEASE. The term of this Lease ( the "TERM") shall be the term TERM specified in the Basic Lease Information (the “Term”)Information, which shall commence on the commencement earliest of (i) the date specified Tenant, or any person occupying any of the Premises with Tenant's permission, commences business operations from the Premises or (ii) the date that the Tenant Improvements are substantially completed or (iii) July 1, 2000 as such date may be extended by Landlord Delay, as defined in the Basic Lease Information EXHIBIT B (the “Commencement Date”"COMMENCEMENT DATE") and, unless sooner terminated as hereinafter provided, shall end on the earlier of (x) the expiration date specified in of the Basic New Building Lease Information (defined below) or (y) July 1, 2012 (the “Expiration Date”"EXPIRATION DATE"). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on or before the Anticipated Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx (a) Tenant has inspected the Premises, the Buildings Premises and the Property Building or has had the Premises, the Buildings Premises and the Property Building inspected by professional consultants retained by Xxxxxx, (b) Tenant is familiar with the condition of the Premises, the Buildings Premises and the PropertyBuilding, (c) the Premises, the Buildings Premises and the Property Building are suitable for Tenant’s 's purposes, (d) although Tenant has received from Landlord the maintenance records of, has inspected the HVAC system or has had the HVAC system inspected by professional consultants retained by Xxxxxx, Landlord makes no representations as to the condition of such system, and Tenant is accepting the HVAC system "as is" and (e) except for the improvements to be constructed or installed by Landlord pursuant to EXHIBIT B, the condition of the Premises, the Buildings Premises and the Property Building is acceptable to Tenant. Tenant accepts Except for the Premises in its “AS IS” conditionImprovements to be constructed or installed by Landlord pursuant to EXHIBIT B, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings Premises or the Property Project or to remodel, renovate, recondition, alter or improve the Premises, the Buildings Premises or the Property Building in any manner, and Tenant shall accept the Premises "AS IS" on the Commencement Date.
Appears in 1 contract
Samples: Lease (Wj Communications Inc)
TERM OF LEASE. The TO HAVE AND TO HOLD the Leased Premises for and during the term of this Lease shall five (5) years to be computed from and fully to be completed and ended on save as hereinafter provided for earlier termination. PROVIDED THAT if there is any Lessor’s Work or Lessee’s Work to be performed prior to the term specified Lessee opening for business in the Basic Lease Information (Leased Premises or the “Term”), which shall commence on the commencement date specified in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated Leased Premises are occupied by a third party as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, date of this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such eventLease, the Commencement Date shall be postponed until the date on which Landlord delivers earlier of:
a) sixty (60) days after the Lessor has delivered vacant possession of the Leased Premises to Tenantthe Lessee notwithstanding that the Lessor may still, during such sixty (60) day period, be completing its work; or
b) the opening by the Lessee to the public of its business in the Leased Premises. Notwithstanding any change in the Commencement Date calculated in accordance with the preceding provisions hereof, the Terms shall expire on the date set for such expiry in the first paragraph of this Section 2.03, subject always to earlier termination as provided for in this Lease. PROVIDED THAT upon the Lessor or its Architect giving notice to the Lessee that the Leased Premises are available for the commencement of the Lessee’s Work, the Lessee shall immediately take possession of the Leased Premises and shall occupy same for the purpose of fixturing and installing its inventory, at its own risk, for a period of zero (0) days after receipt of such notice or until the Lessee opens for business to the public in the Leased Premises, free of the payment of Gross Rent, and Additional Rent save for the obligation of the Lessee to pay for all utility charges used by the Lessee or consumed in the Leased Premises during the period of such fixturing, and shall during the period from the giving of such notice until the Commencement Date be a tenant in the Leased Premises subject to the same covenants and agreements as are contained in this Lease, mutatis mutandis. FURTHER PROVIDED THAT NOTWITHSTANDING ANYTHING TO THE CONTRARY, if the Lessor is unable to deliver vacant possession of the Leased Premises to the Lessee for any reason, including but not limited to the Expiration Date holding over or retention of possession of any other lessee or occupant, or the lack of completion of any repairs, improvements or alterations required to be completed before the Lessee’s occupancy of the Leased Premises, then the time for commencement of the Term shall be extended to correspond with the period of delay and the Lessee shall not be extendedentitled to any abatement or diminution of Rent (except that Rent shall not commence to be payable until possession of the Leased Premises is given by the Lessor to the Lessee) nor shall the validity of this Lease or the parties’ respective obligations hereunder be affected. Tenant acknowledges that Xxxxxx has inspected However, if the PremisesLessor does not give vacant possession of the Leased Premises to the Lessee within six (6) months of the date of this Lease, then the Lessor may, at is option, terminate this Lease by written notice to the Lessee and in such event this Lease shall be null and void and of no effect whatsoever. Any deposit paid by the Lessee to the Lessor shall be returned without interest or deduction, and neither party shall have any further liability to the other. Forthwith, upon the Commencement Date being determined in accordance with the foregoing, the Buildings Lessee shall execute an acknowledgement of same on Lessor’s usual form. The Lessee shall pay all Gross Rent and Additional Rent calculated on a per diem basis, from the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition end of the Premises, 90 day rent-free period to the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition last day of the Premises, month in which the Buildings Commencement Date occurs and thereafter all payments of Rent shall be made on the Property is acceptable to Tenant. Tenant accepts first day of each month throughout the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerTerm unless otherwise specified herein.
Appears in 1 contract
Samples: Lease Agreement
TERM OF LEASE. The term of this Lease (the "TERM") shall be the term specified in the Basic Lease Information (the “Term”)Information, which shall commence on the commencement earliest of (i) the date specified that is ninety (90) calendar days after the completion of the pouring of the concrete on the second floor or (ii) the date that the Base Building Improvements and the Tenant Improvements (as defined in EXHIBIT B) are substantially completed and a certificate of occupancy, temporary certificate of occupancy or the equivalent certificate in the Basic Lease Information local jurisdiction that permits occupancy for the purpose of conducting normal business has been issued or (iii) August 31, 2001 as such date may be extended by Landlord Delay, as defined in EXHIBIT B (the “Commencement Date”"COMMENCEMENT DATE") and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified last day of the month in which the Basic Lease Information tenth (10th) anniversary of the Commencement Date falls (the “Expiration Date”"EXPIRATION DATE"). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on or before the Anticipated Commencement Date, except as provided in this SECTION 2.1 below, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom. Except for the improvements to be constructed or installed by Landlord pursuant to EXHIBIT B, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings Premises or the Property Project or to remodel, renovate, recondition, alter or improve the Premises, the Buildings Premises or the Property Building in any manner, and Tenant shall accept the Premises "AS IS" on substantial completion of Landlord's Work pursuant to EXHIBIT B, except for Landlord's completion of minor aspects of and punch list items relating to the Base Building Improvements described in the Work Letter Agreement attached hereto as EXHIBIT B. Tenant shall be deemed to have accepted the Premises, however, subject to all matters reasonably discoverable or observable by Tenant in the course of a standard punch list review. If Landlord fails, despite exercising commercially reasonable efforts, to obtain the entitlements and permits necessary to construct the Base Building Improvements as required by the Work Letter Agreement on or before September 30, 2000, Landlord shall notify Tenant, and in such event (i) Landlord shall have the right to terminate this Lease by notice to Tenant (and upon any such termination shall return to Tenant any Security Deposit and the Letter of Credit) and (ii) Tenant shall have the right to terminate this Lease by notice to Landlord. A termination pursuant to this paragraph shall be without liability of either party to the other excepting only with respect to a default hereunder committed prior to such termination.
Appears in 1 contract
Samples: Lease (Wj Communications Inc)
TERM OF LEASE. The term of this Lease shall be the term specified in the Basic Lease Information (the “Term”)Information, which shall commence on the commencement date specified in the Basic Lease Information (the “"Commencement Date”") and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “"Expiration Date”"). If Landlord, for any reason whatsoever, does not deliver possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession of the Premises to Tenant, but Tenant and the Expiration Date shall not be extendedextended for an equal period (subject to adjustment in accordance with section 2.3 hereof). Tenant acknowledges that Xxxxxx Tenant has inspected the Premises, the Buildings and Premises xxx the Property or has had the Premises, the Buildings Premises and the Property inspected by professional consultants retained by XxxxxxTenant, Tenant is familiar with the wixx xxx condition of the Premises, the Buildings Premises and the Property, the Premises, the Buildings Premises and the Property are suitable for Tenant’s 's purposes, and and, except for the improvements to be constructed or installed by Landlord pursuant to Exhibit B (if any), the condition of the Premises, the Buildings Premises and the Property is acceptable to Tenant. Tenant accepts Except for the Premises in its “AS IS” condition, with all faults, without any covenant, representation improvements to be constructed or warranty of any kind or nature whatsoever, express or implied installed by Landlord pursuant to Exhibit B (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposesif any), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings Premises or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings Premises or the Property in any manner, and Tenant shall accept the Premises "as is" on the Commencement Date. Landlord and Tenant expressly agree that there are and shall be no implied warranties of merchantability, habitability, fitness, for a particular purpose or of any other kind arising out of this Lease and there are no warranties which extend beyond those expressly set forth in this Lease.
Appears in 1 contract
Samples: Industrial Lease (Foster L B Co)
TERM OF LEASE. 3.1. The Landlord hereby leases to the Tenant and the Tenant hereby leases from the Landlord the Leased Premises for the Term of Lease within its meaning hereinabove. In addition, the Tenant is granted the option to extend the Term of Lease for the option terms within their definition hereinabove (hereinafter: “Option Terms”) on the condition that the Tenant upheld the terms of lease during the previous Term and/or terms of lease fully and to the satisfaction of the Landlord.
3.2. In the event the Tenant failed to deliver written notice to the Landlord regarding its wish to terminate the lease under this Agreement no later than three (3) months prior to expiration of the Term of Lease, this shall be deemed as if the Tenant delivered the Landlord a notice on extension of the Term of Lease by the additional term of this Lease lease and the lease shall be extended automatically under the term specified terms set forth in this Agreement for additional unprotected terms of lease.
3.3. The terms of lease in the Basic Lease Information (additional term of lease shall be identical to the “Term”), which shall commence on the commencement date specified terms of lease in the Basic Lease Information (the “Commencement Date”) andfirst Term of Lease, unless sooner terminated as hereinafter provided, shall end on the expiration date specified subject to modifications that were set forth expressly in the Basic Lease Information (Agreement and except for rent that shall vary as specified hereunder.
3.4. Notwithstanding anything said or implied to the “Expiration Date”). If Landlordcontrary in this Agreement, for any reason whatsoeverthe parties agree that this Agreement shall be terminated upon delivery of a notice to the Tenant effective immediately, does not deliver possession immediately upon the occurrence of one of the Premises following events: a bankruptcy order was delivered against the Tenant and/or a receivership order was issued against any of the controlling shareholders in the Tenant and/or the Tenant made an arrangement with and/or in favor of his creditors and/or a receiver or a trustee or any other officer that is identical or similar in essence to any of the positions of the said officers was appointed, or a motion for bankruptcy of the Tenant on was filed and the Commencement Date, this Lease shall motion was not be void or voidable and Landlord shall not be liable to stricken within 30 days. The Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession granted a 30 days’ extension to strike any of the Premises to Tenant, but the Expiration Date shall not be extendedorders enumerated in this clause. Tenant acknowledges To dispel any doubt it is clarified that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition termination of the Premises, Agreement under the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition circumstances specified hereinabove shall constitute a fundamental breach of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability Agreement on behalf of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any manner.
Appears in 1 contract
TERM OF LEASE. Section 2.1 The term of this Lease (the "Term" or "Lease Term") and the demise of the Demised Premises shall be the term specified in the Basic Lease Information for ten (the “Term”), which shall commence 10) years and three (3) months beginning on the commencement date specified in the Basic Lease Information (the “"Commencement Date”", said term as used herein being defined as the earlier of the following dates: (A) andthe date upon which the leasehold improvements described in Article IV hereof have been constructed and installed by the Landlord as evidenced by the delivery to the Tenant of both a (i) statement from the Landlord's architect or space planner or engineer certifying the said tenant improvements have been completed in accordance with all applicable federal, unless sooner terminated state and local laws, statutes and ordinances and substantially in accordance with the plans and specifications approved by the Tenant under Article IV and (ii) a certificate of occupancy for the Demised Premises issued by the appropriate governmental authority (provided, however, that any delays resulting from changes requested by the Tenant to the plans and specifications for the Tenant Improvements (as hereinafter provided, defined) shall end on be retroactively discounted from such date as set forth in Section 4.2) or (B) the expiration date specified in upon which the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver Tenant takes possession of the Demised Premises and commences operation of the business of the Tenant in the Demised Premises; provided, that the entry by the Tenant into the Demised Premises or the installation by the Tenant in the Demised Premises of trade fixtures, equipment and other personal property necessary to conduct the operation of the business of the Tenant on the Commencement Date, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such event, deemed taking possession of the Demised Premises by the Tenant. In the event the Commencement Date has not occurred within one hundred twenty (120) days following the mutual execution of this Lease by the Landlord and the Tenant (subject to Force Majeure, as hereinafter defined), the Tenant may terminate this Lease by written notice to the Landlord within fifteen (15) days thereafter, and upon such termination, the Advance Rent and the Security Deposit paid by the Tenant under Sections 23.1 and 23.2 6 shall be postponed until promptly returned by the date on which Landlord delivers possession of to the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord parties shall have no obligation further obligations or liabilities hereunder to construct one another other than those obligations or install any improvements liabilities that expressly survive the termination of this Lease. The Tenant shall have the right to extend the Term for one (1) additional five (5) year period pursuant to the terms and conditions set forth in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any mannerExhibit C attached hereto and made a part hereof.
Appears in 1 contract
Samples: Lease Agreement (Simmons Co /Ga/)
TERM OF LEASE. 3.1 The term of this Lease (the “Lease Term”) shall be the term specified period set forth in Item 1.4 of the Basic Lease Information (Provisions. Subject to the “Term”)terms and conditions of this Lease, which the Lease Term shall commence on the commencement date Commencement Date and shall terminate on the Termination Date, which dates are specified in Item 1.4 of the Basic Lease Information Provisions.
3.2 Following the full execution and delivery of this Lease and vacation of the Premises by the current tenant (estimated to be January 1, 2007) and continuing until the Commencement Date (the “Commencement Date”) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration DateEarly Occupancy Period”), Tenant and its agents, employees, contractors, vendors, licensees, invitees and representatives shall be permitted to enter the Premises for the purposes of installing Tenant’s furniture, fixtures, utilities, telecommunication systems, equipment, security systems and operating Tenant’s business. If LandlordTenant shall not be obligated to pay Minimum Rent or any items designated as additional rent under the Lease during the Early Occupancy Period, for but any reason whatsoever, does not deliver possession use or occupancy of the Premises to by Tenant on during the Commencement DateEarly Occupancy Period shall otherwise be subject to, this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, but, in such eventaccordance with, the Commencement Date terms and conditions of this Lease. Tenant shall be postponed until the date on which Landlord delivers possession of responsible for paying any utility charges for utility services furnished to the Premises to Tenant, but during the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereofEarly Occupancy Period. Landlord shall have no obligation responsibility for any damage, theft, destruction or injury to construct Tenant or install any improvements in the Premisesof Tenant’s property as a result of Tenant’s presence or activities on, or use of, the Buildings Premises during the Early Occupancy Period. Except to the extent caused by Landlord’s negligence or willful misconduct, Landlord makes no representations as to whether Tenant’s occupancy of the Property Premises during the Early Occupancy Period will be in compliance with applicable building, safety or fire codes, and Tenant shall be responsible for, and assumes the risk of any non-compliance. Tenant shall indemnify and hold Landlord harmless from and against any loss, cost, liability, claim or action arising out of or relating to remodelTenant’s use or occupancy of the Premises during the Early Occupancy Period, renovate, recondition, alter except to the extent caused by Landlord’s negligence or improve the Premises, the Buildings or the Property in any mannerwillful misconduct.
Appears in 1 contract
Samples: Lease (Hansen Natural Corp)
TERM OF LEASE. 2.1 The Landlord leases unto the Tenant and the Tenant hires the leased premises for the term of this Lease shall be five (5) years, to commence on the first day of the month following delivery of possession to the Tenant, unless possession is given on the first day of a month in which case the lease term specified in the Basic Lease Information (the “Term”), which shall commence on that date (hereinafter called the commencement date specified in the Basic Lease Information (the “"Commencement Date”) and, unless sooner terminated as hereinafter provided, shall end on the expiration date specified in the Basic Lease Information (the “Expiration Date”"). If Landlord, for any reason whatsoever, does not Landlord expects to deliver possession of the Premises to Tenant on or about February 2, 2003 for the purpose of wiring for data, phones, etc. and to commence furniture move-in, which would result in a Commencement Date of March 1, 2003 and an ending date of February 29, 2008. In the event possession is delivered subsequent to March 1, 2003, then the Commencement Date and ending dates shall be adjusted accordingly, and the parties will execute a letter specifying the adjusted dates. Additionally, the rent shall be prorated to ensure Tenant is given one full month's free rent. The obligation of the Tenant hereunder shall be subject to the following provisos:
(a) That on or before the Commencement Date, the Landlord shall have substantially completed the leased premises as required by the terms and conditions of Article 6 of this Lease lease. Upon the delivery by the Landlord to the Tenant of the leased premises, the lease term shall commence in accordance with this Article 2 and the Tenant's obligation to pay rent shall begin.
2.2 It is expressly understood and agreed that for the purpose of this lease wherever and whenever the term "substantial completion" is used, the term "substantial completion" shall not include items of maintenance, service or guarantee, which may be required pursuant to the terms and conditions of this lease, nor items of work to be completed by Tenant.
2.3 Anything herein contained to the contrary notwithstanding, Tenant shall not be void or voidable and Landlord shall not be liable obligated to Tenant for any loss or damage resulting therefrom, but, in such event, the Commencement Date shall be postponed until the date on which Landlord delivers possession accept delivery of the Premises leased premises, unless all building systems attributable to Tenantthe leased premises and ancillary support systems applicable to the leased premises, but including HVAC, plumbing and electric, are hooked up and in operable condition for Tenant to use the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by Xxxxxx, Tenant is familiar with the condition of the Premises, the Buildings and the Property, the Premises, the Buildings and the Property are suitable premises for Tenant’s 's leased purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct or install any improvements in the Premises, the Buildings or the Property or to remodel, renovate, recondition, alter or improve the Premises, the Buildings or the Property in any manner.
Appears in 1 contract
TERM OF LEASE. (a) The term Term of this Lease shall be for five (5) years, commencing on the term specified in later of November 1, 2005 or five (5) business days following: Tenant's receipt from Landlord of a final and unconditional certificate of occupancy for the Basic Lease Information Demised Premises (the “Term”" COMMENCEMENT DATE") and ending on the fifth anniversary of the Rent Commencement Date (the "TERM"), which shall commence with payment of rent commencing on the commencement date specified in the Basic Lease Information (the “Commencement Date”.
(i) and, unless sooner terminated as hereinafter provided, shall end on If the expiration date specified Demised Premises is not ready for occupancy in accordance with the Basic Lease Information (the “Expiration Date”). If Landlord, for any reason whatsoever, does not deliver possession provisions of the Premises to Tenant Section 6(a) hereof on the Commencement Date, Landlord shall have the greater of (x) an additional forty five (45) days or (y) such amount in excess of forty five (45) days as may be necessary under the circumstances to comply with any change orders in the Work required by Tenant under Section 6(a) hereof, in which to ready the Demised Premises for occupancy. If the Demised Premises is not ready for occupancy on the Commencement Date and said delay is proximately caused by any act or omission of Tenant or any of its employees, agents or contractors, including but not limited to, any change orders in the Work required by Tenant and/or failure of Tenant to act reasonably promptly when any consent of approval may be requested by Landlord, Tenant's obligation to pay rent with respect to such portion shall commence nevertheless. Should Landlord fail to deliver the Demised Premises to Tenant as required by this Lease shall for any reason not be void or voidable and caused by Tenant (including, without limitation, any reasons due to "Force Majeure" conditions) within the aforesaid period, Tenant may terminate this Lease, without liability, upon ten (10) days' notice, in which case Landlord shall not be liable immediately return to Tenant for any prepaid rent.
(c) At the expiration or termination of the Term of this Lease, whether by lapse of time or otherwise, Tenant shall surrender the Demised Premises in good condition, reasonable wear and tear, loss or damage resulting therefromby fire, but, in such eventcasualties, the Commencement Date shall be postponed until elements, or by causes beyond Tenant's reasonable control, and Landlord's maintenance, repair and replacement obligations, excepted. At the date on which Landlord delivers possession expiration of the Premises to Tenant, but the Expiration Date shall not be extended. Tenant acknowledges that Xxxxxx has inspected the Premises, the Buildings and the Property or has had the Premises, the Buildings and the Property inspected by professional consultants retained by XxxxxxTerm of this Lease, Tenant is familiar with shall remove from the condition of the PremisesDemised Premises all fixtures and furnishings belonging to Tenant (provided, the Buildings and the Propertyhowever, the Premises, the Buildings and the Property are suitable for Tenant’s purposes, and the condition of the Premises, the Buildings and the Property is acceptable to Tenant. that Tenant accepts the Premises in its “AS IS” condition, with all faults, without any covenant, representation or warranty of any kind or nature whatsoever, express or implied (including with respect to the suitability of the Premises or any utility systems serving the Premises for Tenant’s purposes), and Tenant is relying solely on its own investigation of the Premises, the Buildings and the Property. Tenant agrees that Landlord has made no representations or warranties concerning such conditions, state of repair and use, nor any agreement or promise to alter, improve, adapt, repair or keep in repair the same, or any portion thereof. Landlord shall have no obligation to construct remove or install any improvements in pay for the removal of the initial fit-up of the Demised Premises, or any subsequent alterations which Landlord has approved during the Buildings Term), and the Demised Premises shall be left in broom-clean condition. Tenant shall repair, at its cost, any damage caused by removal of fixtures or furnishings during or at the Property end of the Term. At the election of the Landlord, all partitions, ceilings, lighting appended to the Demised Premises and flooring or to remodel, renovate, recondition, alter or improve carpeting will become the Premises, property of the Buildings or the Property in any mannerLandlord unless fixtures installed by Tenant.
Appears in 1 contract