TERM; POSSESSION. The Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Date, unless extended or sooner terminated in accordance with this Lease. If Landlord is delayed in delivering possession of all or any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenant.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Neuronetics, Inc.)
TERM; POSSESSION. The Term of this Lease shall commence on the Commencement Date and ---------------- shall end expire, if not sooner terminated pursuant to the provisions of this Lease, on the Expiration Date. On the Commencement Date, unless extended the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to the completion of the Landlord Work). By taking possession of the Premises and Equipment Space, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or sooner terminated in accordance with this Leasewarranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of all the Premises and Equipment Space or any portion other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenant.
Appears in 2 contracts
Samples: Lease Agreement (Equinix Inc), Lease Agreement (Equinix Inc)
TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date, unless extended or sooner terminated in accordance with this Lease”). If The “Commencement Date” shall be the earlier of (a) the date on which Landlord is delayed in delivering tenders possession of the Premises to Tenant, with all of Landlord’s construction obligations, if any, “Substantially Completed” as provided in the Construction Rider attached as Exhibit B (the “Construction Rider”) or, in the event of any “Tenant Delay,” as defined in the Construction Rider, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant, with Landlord’s written permission, actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay“Scheduled Commencement Date”). Subject to this Section 4Landlord shall pay Tenant’s hold-over charges if the Premises are not Substantially Completed within seventy-five (75) days after Lease execution, provided, however, that Landlord shall not be liable for any loss other claims, damages or damage to Tenant resulting from any delay in delivering possession due to liabilities if the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements Premises are not Substantially Completed within one hundred (100) days following ready for occupancy by the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Scheduled Commencement Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if When the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that been established, Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then and Tenant shall have at the right to terminate this Lease by written notice to Landlord, as Tenant’s sole request of either party confirm the Commencement Date and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, Expiration Date in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantwriting.
Appears in 2 contracts
Samples: Lease Agreement (BioElectronics Corp), Lease Agreement (BioElectronics Corp)
TERM; POSSESSION. The Term term of this Lease (the "TERM") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration DateDate set forth in the Basic Lease Information (the "EXPIRATON DATE"). The "COMMENCEMENT DATE" shall be (a) the date on which Landlord has "Substantially Completed" Landlord's construction obligations, unless extended or sooner terminated if any, with respect to the improvements (the "TENANT IMPROVEMENTS") to be constructed and installed in accordance with this Lease. If the Premises by Landlord is delayed (or, in delivering the event of any "Tenant Delay, "the date on which Landlord could have done so had there been no such "Tenant Delay"), all as provided in the Construction Rider attached as Exhibit B (the --------- "CONSTRUCTION RIDER", and tendered possession of all the Premises to Tenant; or (b) any earlier date upon which Tenant, with Xxxxxxxx's written permission, actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay"SCHEDULED COMMENCEMENT DATE"). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if When the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that been established, Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then and Tenant shall have confirm the right to terminate Commencement Date and Expiration Date in writing. As used in this Lease by written notice to LandlordLease, as Tenant’s sole the first "LEASE YEAR" shall be the period from (and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty including) the Commencement Date through (30and including) days’ advance written notice the last day of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, the calendar month in which event all amounts prepaid or deposited by Tenant hereunder the first anniversary of the Commencement Date falls, and each period of twelve full consecutive calendar months thereafter shall be promptly returned to Tenanta subsequent Lease Year.
Appears in 1 contract
Samples: Lease Agreement (Asi Solutions Inc)
TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date, unless extended or sooner terminated in accordance with this Lease. If The “Commencement Date” shall be the earlier of (a) the date on which Landlord is delayed in delivering tenders possession of the Premises to Tenant, with all of Landlord’s construction obligations, if any, “Substantially Completed” as provided in the Construction Rider attached as Exhibit B (the “Construction Rider”) but in no event prior to April 1, 2009 or, in the event of any “Tenant Delay,” as defined in the Construction Rider, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant, with Landlord’s written permission, actually occupies and conducts business in any portion of the Premises to Tenant as Premises. Landlord acknowledges that Base Rent and Tenant’s Share of Operating Costs and Taxes shall not be payable until the first (1st) day of the seventh (7th) full month after the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become . The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so “Scheduled Commencement Date”); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage to Tenant resulting from any delay in delivering possession due to liabilities if the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements Premises are not Substantially Completed within one hundred (100) days following ready for occupancy by the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Scheduled Commencement Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if When the Commencement Date has not occurred on or before one hundred ninety (190) days following been established, Landlord and Tenant shall, at the date that Landlord receives a building permit for request of either party, confirm the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole Commencement Date and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, Expiration Date in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantwriting.
Appears in 1 contract
TERM; POSSESSION. The Term term of this Lease with respect to the Initial Premises shall commence on the date ("INITIAL PREMISES COMMENCEMENT DATE") Landlord delivers possession of the Initial Premises to Tenant after Landlord has obtained possession of the Initial Premises from the Existing Tenant pursuant to the provisions contained hereinbelow. The "TERM") shall commence on the Additional Premises Commencement Date as described below and, unless sooner terminated, shall expire on the Expiration Date set forth in the Basic Lease Information (the "EXPIRATION DATE"). The term of this Lease with respect to the Additional Premises shall commence on the date ("ADDITIONAL PREMISES COMMENCEMENT DATE") Landlord delivers possession of the Additional Premises to Tenant after Landlord has obtained possession of the Additional Premises from the Existing Tenant pursuant to the provisions contained hereinbelow. The parties anticipate that the Initial Premises Commencement Date and shall end on the Expiration Date, unless extended or sooner terminated in accordance with this Lease. If Landlord is delayed in delivering possession of all or any portion of the Additional Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date will occur on or about the Initial Premises Scheduled Commencement Date set forth in the Basic Lease Information (the "INITIAL PREMISES SCHEDULED COMMENCEMENT DATE") and the Expiration Additional Premises Scheduled Commencement Date will be extended so get forth in the Basic Lease Information (the "ADDITIONAL PREMISES SCHEDULED COMMENCEMENT DATE"); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage to Tenant resulting from any delay in delivering possession due to liabilities if the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements Initial Premises and Additional Premises are not Substantially Completed within one hundred (100) days following ready for occupancy by their respective Scheduled Commencement Dates. When the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Initial Commencement Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure)and Additional Commencement Date have been established, Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then and Tenant shall have at the right to terminate this Lease by written notice to Landlordrequest of either party confirm the respective Commencement Dates and Expiration Date in writing. TENANT UNDERSTANDS AND AGREES THAT THE PREMISES ARE CURRENTLY LEASED BY ANOTHER TENANT (THE "EXISTING TENANT"). LANDLORD AGREES TO USE ITS GOOD FAITH EFFORTS TO NEGOTIATE A TERMINATION OF LEASE WITH THE EXISTING TENANT BY AUGUST 15, as Tenant’s sole and exclusive remedy with respect to such delay1998, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenant.AND DELIVER POSSESSION OF THE INITIAL PREMISES TO TENANT ON OR BEFORE THE INITIAL PREMISES SCHEDULED COMMENCEMENT DATE AND DELIVER POSSESSION OF THE ADDITIONAL PREMISES TO TENANT ON OR BEFORE THE ADDITIONAL PREMISES SCHEDULED COMMENCEMENT DATE. NOTWITHSTANDING ANY PROVISION
Appears in 1 contract
Samples: Lease Agreement (Clarent Corp/Ca)
TERM; POSSESSION. (a) The Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Date, unless extended or sooner terminated in accordance with this Lease. If Landlord is delayed in delivering possession of all or any portion of the Premises to Tenant Except as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4expressly set forth herein, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession of the Premises and/or the Tenant Improvements due to the holdover of any existing tenant or other circumstances outside of Landlord’s 's reasonable control, including, but not limited to (but only to the extent actually outside of Landlord's reasonable control), severe events of nature (including severe weather and flooding), labor disputes, industrial disputes or disturbances, civil disturbances, interruptions by government or court order, valid orders of any regulatory body having proper jurisdiction, wars, riots, inability to secure materials (including inability to secure materials by reason of allocations promulgated by authorized governmental agencies but not including any such inability to obtain materials due to cost), inability to obtain Permits, fires, explosions, breakage or accident to machinery ("Force Majeure"). In the event (b) Tenant is currently party to that certain Standard Form Industrial Building Lease with The Hampshire Company (as successor-in-interest to First Industrial, L.P.) ("Existing Landlord") dated June 6, 2000 ("Existing Lease") for premises located at 0 Xxxxxxxxxx Xxxx, Xxxxxx Xxxx Township, Camden County, New Jersey ("Existing Premises"). Provided there exists no Event of Default and Landlord has failed to deliver the Tenant Improvements are not Substantially Completed within one hundred on or before October 31, 2010, then Landlord shall reimburse Tenant for (100A) days following the date that sum of the actual holdover base rent and additional rent imposed by Existing Landlord receives pursuant to the terms and conditions of the Existing Lease ("Actual Charges") less, as the case may be, either the sum of the "last prevailing" (as used in Section 20 of the Existing Lease) base rent and additional rent under the Existing Lease or the sum of the Minimum Annual Rent and Annual Operating Expenses under this Lease, on a building permit day-for-day basis, as such is set forth in (i), (ii) or (iii) below (the result of these equations shall be referred to commence as the "Holdover Rent"); and (B) all damages required to be paid by Tenant pursuant to the terms of Section 20 of the Existing Lease solely by reason of Tenant's holdover in the Existing Premises and excluding all other defaults under the Existing Lease. Collectively, (A) and (B) are referred to as the "Holdover Expenses").
(i) With respect to any period between November 1, 2010 through January 31, 2011 (as applicable), the Holdover Expenses shall only be reimbursable as provided herein for such period(s) (on a day-for-day basis) to the extent attributable solely to delay caused by Landlord in delivering the Tenant Improvements Substantially Completed by October 31, 2010, and not to the extent attributable (in the Premises (the “Delivery Date”), subject whole or in part) to any Tenant Delay or force majeure Force Majeure. For this period, the calculation of the Holdover Rent reimbursable by Landlord as provided herein shall be as follows: the sum of the Actual Charges less the sum of the "last prevailing" base rent and additional rent under the Existing Lease. (ii) With respect to any period between February 1, 2011 through February 28, 2011 (as applicable), the Holdover Expenses shall only be reimbursable as provided herein for such period(s) (on a day-for-day basis) to the extent attributable solely to delay caused by Landlord in delivering the Tenant Improvements Substantially Completed by January 31, 2011 and not to the extent attributable (in the event of either, the Delivery Date shall be extended by one (1whole or in part) day for each one (1) day of to any Tenant Delay or force majeure)Force Majeure. For this period, the calculation of the Holdover Rent reimbursable by Landlord as provided herein shall credit Tenant against be as follows: the sum of the Actual Charges less the sum of the Minimum Annual Rent due and Annual Operating Expenses under this Lease an amount equal Lease. (iii) With respect to any period between March 1, 2011 through August 31, 2011 (as applicable), the Holdover Expenses shall only be reimbursable as provided herein for such period(s) (on a day-for-day basis) to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred extent attributable solely to delay caused by Force Majeure and/or Landlord in delivering the Tenant following the Delivery DateImprovements Substantially Completed by February 28, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease 2011 and not to the contraryextent attributable (in whole or in part) to any Tenant Delay. For this period, if the Commencement Date has not occurred on or before one hundred ninety (190) days following calculation of the date that Holdover Rent reimbursable by Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder herein shall be promptly returned to Tenantas follows: the sum of the Actual Charges less the sum of the Minimum Annual Rent and Annual Operating Expenses under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Intest Corp)
TERM; POSSESSION. The Term term of this Lease (the "TERM") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date, unless extended or sooner terminated Date set forth in accordance with this Leasethe Basic Lease Information (the "EXPIRATION DATE"). If The "COMMENCEMENT DATE" shall be the earlier of (a) the date on which Landlord is delayed in delivering tenders possession of the Premises to Tenant, with all of Landlord's construction obligations, if any, "SUBSTANTIALLY COMPLETED" as provided in the Construction Rider attached as Exhibit B (the "CONSTRUCTION RIDER"), or, in the event of any "TENANT DELAY," as defined in the Construction Rider, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant, with Landlord's written permission, actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement DatePremises; provided, Tenant will take possession on the date Landlord delivers possessionhowever, which date will then become that in no event shall the Commencement Date occur any earlier than the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay"SCHEDULED COMMENCEMENT DATE"). Subject to this Section 4Landlord, Landlord however, shall not be liable for any loss claims, damages or damage liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date. Tenant understands and agrees that a substantial portion of the Premises are currently occupied by another tenant (the "EXISTING TENANT"). Landlord agrees to use its good faith efforts to regain possession of such portion of the Premises from the Existing Tenant, and deliver possession of the Premises to Tenant resulting from any delay in delivering possession due to on or before the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Scheduled Commencement Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease any provision contained herein to the contrary, if Landlord shall not be obligated to pay any consideration to the Commencement Date has not occurred Existing Tenant in order to gain possession of the Premises. If, despite Landlord's good faith efforts, Landlord is unable to deliver possession of the Premises to Tenant on or before one hundred ninety (190) days following the date that March 1, 1999, Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall each have the right to terminate this Lease by providing written notice of termination to Landlordthe other, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord within thirty (30) days’ advance written notice days after such date, and this Lease shall be of its intention no further force and effect. Such right of termination shall constitute Tenant's sole remedy for Landlord's failure to deliver possession of the Premises to Tenant. Notwithstanding the foregoing, if Landlord tenders possession of the Premises to Tenant, and Tenant accepts possession thereof, after March 1, 1999, then the right of Landlord and Tenant to terminate this Lease if Substantial Completion pursuant to this paragraph shall not occur within such thirty (30) day periodbecome void. When the Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Commencement Date and Expiration Date in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantwriting.
Appears in 1 contract
Samples: Lease Agreement (Imall Inc)
TERM; POSSESSION. The Term term of this Lease (the “Term“) shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date“). The “Commencement Date“ shall be the earlier of (i) the later of (a) the date that is one hundred eighty (180) days after the date on which Landlord has Substantially Completed the Landlord’s Work, unless extended or sooner terminated in accordance with this Lease. If the event of any Tenant Delay (as defined in the Construction Rider), the date on which Landlord’s Work would have been Substantially Completed had there been no such Tenant Delay and Landlord is delayed in delivering tenders possession of all the Premises to Tenant, (the “Delivery Date”); or (b) June 1, 2017; or (ii) the date upon which Tenant actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Premises. The parties anticipate that the Commencement Date will occur on or about the Estimated Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so “Estimated Commencement Date“); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage to liabilities if the Premises are not ready for occupancy by the Estimated Commencement Date. When the Commencement Date has been established, Landlord and Tenant resulting from any delay shall at the request of either party confirm the Commencement Date and Expiration Date in delivering possession due writing. Subject to the holdover provisions of any existing tenant or other circumstances outside Exhibit B – Construction Rider and this Section 2, as of Landlord’s reasonable control. In the event date that the Tenant Improvements are not Substantially Completed within is one hundred (1001) days business day following the date that this Lease has been fully executed by all parties and Tenant has delivered the insurance certificates called for in Section 11.1(e) – Certificates of Insurance and the Security Deposit (or Letter of Credit, if applicable), and provided further that Tenant has given Landlord receives a building permit written notice prior to commence the entry, Tenant Improvements in shall have access to the Premises (“Early Access“) for the “Delivery Date”), subject to Tenant Delay or force majeure (in the event purpose of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for planning and performing the Tenant Improvements, but only if during such Early Access, Tenant and Tenant’s employees, contractors and vendors do not interfere with Landlord’s contractor completing the Landlord Work. Landlord may withdraw such Early Access at any time that Landlord reasonably determines that such Early Access is causing a dangerous situation for Landlord, Tenant or their respective contractors or employees, or if Landlord reasonably determines that such Early Access is hampering or otherwise preventing Landlord from proceeding with the completion of the Landlord Work at the earliest possible date. During such Early Access Tenant shall not be obligated to pay Base Rent or Tenant’s Share of Operating Costs or Taxes; provided, however, that Tenant shall be liable for the costs and expenses for any reason other than special or excess services or utilities requested by or on behalf of Tenant Delay at the Premises during any such period of Early Access. Notwithstanding the foregoing, if Tenant takes possession of the Premises before the Commencement Date and occupies fifty percent (50%) or force majeuremore of the Premises for the operation of Tenant’s business therein, then such possession shall be subject to the terms and conditions of this Lease and Tenant shall have the right to terminate this Lease by written notice to Landlordpay Base Rent, as Tenant’s sole Share of Operating Costs and exclusive remedy with respect Taxes, and all other Rent and other charges payable hereunder to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice for each day of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantpossession before the Commencement Date.
Appears in 1 contract
Samples: Lease Agreement (FireEye, Inc.)
TERM; POSSESSION. The Term term of this Lease (the "TERM") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration DateDate set forth in the Basic Lease Information (the "EXPIRATION DATE"). The "COMMENCEMENT DATE" shall be (a) the date on which Landlord has "substantially completed" Landlord's construction obligations, unless extended or sooner terminated if any, with respect to the improvements (the "TENANT IMPROVEMENTS") to be constructed and installed in accordance with this Lease. If the Premises by Landlord is delayed (or, in delivering the event of any "TENANT DELAY," the date on which Landlord could have done so had there been no such "TENANT DELAY"), all as provided in the Construction Rider attached as Exhibit B (the "CONSTRUCTION RIDER"), and tendered possession of all the Premises to Tenant; or (b) any earlier date upon which Tenant, with Landlord's written permission (which shall not be unreasonably withheld) actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay"SCHEDULED COMMENCEMENT DATE"). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if When the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that been established, Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then and Tenant shall have confirm the right to terminate Commencement Date and Expiration Date in writing. As used in this Lease, the first "Lease by written notice to Landlord, as Tenant’s sole Year" shall be the period from (and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty including) the Commencement Date through (30and including) days’ advance written notice the last day of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, the calendar month in which event all amounts prepaid or deposited by Tenant hereunder the first anniversary of the Commencement Date falls, and each period of twelve full consecutive calendar months thereafter shall be promptly returned to Tenanta subsequent Lease Year.
Appears in 1 contract
Samples: Lease Agreement (Riddell Sports Inc)
TERM; POSSESSION. Tenant currently occupies a portion of the Premises (the "Existing Premises") under the terms of that certain Office Lease Agreement, dated January 13, 1997, by and between Landlord's predecessor-in-interest, Xxxxx Ranch Company, and Tenant (the "Existing Lease"). The Term expiration date of the Existing Lease is January 31, 2000. The term of this Lease (the "Term") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date, unless extended or sooner terminated in accordance with this Lease"). If The "Commencement Date" shall be the earlier of (a) the date on which Landlord is delayed in delivering tenders possession of the portion of the Premises not leased by Tenant under the Existing Lease (the "Expansion Premises") to Tenant, with all of Landlord's construction obligations, if any, "Substantially Completed" as provided in the Construction Rider attached as Exhibit B (the "Construction Rider") or, in the event of any "Tenant Delay," as defined in the Construction Rider, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant, with Landlord's written permission, actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Expansion Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so "Scheduled Commencement Date"); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage to Tenant resulting from any delay in delivering possession due to liabilities if the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements Premises are not Substantially Completed within one hundred (100) days following ready for occupancy by the date that Landlord receives a building permit to commence Scheduled Commencement Date. When the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Commencement Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure)has been established, Landlord and Tenant shall credit Tenant against Minimum Annual Rent due under at the request of either party confirm the Commencement Date and Expiration Date in writing. Provided that this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contraryfull force and effect, if the Commencement Date has not occurred on or before one hundred ninety (190) days following occurs prior to January 31, 2000, the Existing Lease shall be deemed terminated effective as of the date that Landlord receives a building permit for immediately preceding the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to TenantCommencement Date.
Appears in 1 contract
TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and set forth in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date, unless extended or sooner terminated in accordance with this Lease. If Landlord is delayed in delivering possession of all or any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay”). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage to liabilities if the Premises are not ready for occupancy by the Commencement Date. Tenant resulting from any delay is currently in delivering possession due of the first, second and fourth floors of the Premises pursuant to the holdover terms of any existing tenant or other circumstances outside of two leases, specifically (1) that certain Lease dated September [sic] 2003, between Landlord’s reasonable controlpredecessor in interest, 00 Xxxxxxx Xxxxxxxxx Limited Partnership, a California limited partnership, and Tenant, as amended by that certain First Amendment dated July 26, 2006, that certain Letter amending Lease dated December 19, 2005, and that certain Monument Signage Letter Agreement dated April 12, 2007, with respect to the first and second floors of the Premises, and (2) that certain Lease dated July 26, 2006, between Landlord’s predecessor in interest, 00 Xxxxxxx Xxxxxxxxx Limited Partnership, a California limited partnership, and Tenant, as amended by that certain Monument Signage letter Agreement dated April 12, 2007, with respect to the fourth floor of the Premises, (collectively, the “Existing Leases”), each of which Existing Leases shall expire by their own terms on December 31, 2016. In Tenant shall continue to pay Base Rent and Additional Rent for the event first, second and fourth floors of the Premises pursuant to the Existing Leases until the Commencement Date of this Lease. As of the date hereof, Tenant shall be deemed to have accepted possession of the first, second and fourth floors of the Premises in their “as is” condition and configuration pursuant to this Lease. Tenant agrees that the Premises are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises or the Building. Subject to the provisions of Exhibit B Construction Rider, and provided that Tenant has delivered the insurance certificates called for in Section 11.1 (e) – Certificates of Insurance, and given Landlord written notice prior to entry, Tenant shall have access to the seventh floor of the Premises during normal Business Hours (“Early Access”), commencing as of the execution and delivery of this Lease to Landlord in order to commence construction of the Tenant Improvements are specified in Exhibit B Construction Rider and to install Tenant’s furniture, fixtures and equipment, data information systems, security systems, computer and telephone cabling, computers and related office equipment and for the permitted Use. During such Early Access Tenant shall not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit be obligated to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay pay Base Rent or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Additional Rent due under this Lease an amount equal prior to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Commencement Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenant.
Appears in 1 contract
TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and set forth in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date”). The Term of this Lease for the Additional Premises shall commence on the Additional Premises Commencement Date set forth in the Basic Lease Information (the “Additional Premises Commencement Date”) and, unless sooner terminated, shall expire on the Expiration Date, unless extended or sooner terminated in accordance with this Lease. If Landlord is delayed in delivering possession of all or any portion of the Premises to Tenant as of From and after the Commencement Date, Tenant will take possession on shall comply with all the terms and provisions of this Lease, except for the obligation to pay Base Rent prior to the date Landlord delivers possession, which date will then become such obligation commences under the terms of this Lease. During any period that Tenant shall be permitted to enter the Premises prior to the Commencement Date for any reason (including, without limitation, for purposes of constructing any improvements in accordance with the Construction Rider), Tenant shall comply with and be bound by all the terms and provisions of this Lease, except those provisions requiring the payment of Base Rent. Tenant shall provide to Landlord all insurance certificates required of Tenant under this Lease prior to Tenant entering into the Premises. At any time during the Term, Landlord may complete and deliver to Tenant a document evidencing the dates of the beginning and end of the Term, and the Commencement Date for the Initial Premises and the Additional Premises Commencement Date for the Additional Premises, and the Expiration Date will Date, which document shall be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, deemed conclusive unless Tenant shall notify Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed disagreement therewith within one hundred ten (10010) days following the date that Landlord receives a building permit of receipt. Tenant shall make commercially reasonably, good-faith efforts to commence the obtain all governmental approvals (“Government Use Approval”) required for Tenant Improvements to conduct its intended medical uses in the Premises (from all governmental entities with jurisdiction, by the “Delivery Date”)estimated delivery date for the Initial Premises. Tenant shall provide Landlord with a copy of all correspondence received from applicable governmental entities regarding the Government Use Approval, subject Tenant shall retain a permit consultant to xxxxx the necessary applications through the approval process, Tenant Delay or force majeure (in shall provide Landlord with a copy of all applications submitted by Tenant, and, if necessary to obtain the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal required Government Use Approval prior to the holdover portion estimated delivery date for the Initial Premises, Tenant shall pay the premiums established by the applicable governmental entities that allow approval of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by permit applications on an expedited basis. Tenant following shall provide Landlord with a copy of the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per monthapproved permit immediately upon receipt from the applicable governmental entity. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred If on or before one hundred ninety June 1, 2006 (190“Tenant’s Use Approval Deadline “) days following Tenant does not give Landlord written notice that Tenant has obtained the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeureGovernment Use Approval, then Tenant Landlord shall have the right to terminate this Lease by written notice to Tenant given within ten (10) Business Days following Tenant’s Use Approval Deadline. If either (a) Landlord terminates this Lease because Tenant has not obtained the Government Use Approval on or before Tenant’s Use Approval Deadline, or (b) Tenant terminates this Lease because Landlord has failed to deliver possession of the Initial Premises and the Additional Premises to Tenant by the Termination Deadline, then promptly after either such termination Landlord shall return to Tenant all sums paid by Tenant to Landlord, as including the Security Deposit, the Letter of Credit, and the construction management fee, if previously paid by Tenant to Landlord. In addition, if Tenant terminates this Lease because Landlord has failed to deliver possession of the Initial Premises and the Additional Premises to Tenant by the Termination Deadline, then in Landlord shall pay one half (1/2) of Tenant’s sole out of pocket fees and exclusive remedy with respect charges that Tenant has paid to such delay, except the Space Planner (as provided above, subject defined in Exhibit B attached to Tenant giving Landlord this Lease) within thirty (30) days’ advance written notice days after Tenant delivers to Landlord copies of its intention to terminate this Lease if Substantial Completion shall not occur within the invoices from the Space Planner for such thirty (30) day periodfees and charges, showing in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantdetail the dates and the explanation associated therewith for such fees and charges.
Appears in 1 contract
Samples: Lease Agreement (Hemacare Corp /Ca/)
TERM; POSSESSION. The Term term of this Lease ("Term") shall be approximately one hundred twenty (120) months commencing on or about February 21, 2000 (the "Target Commencement Date"), subject to the provisions of Paragraphs 2 and 27, and ending on the last day of the one hundred twentieth (120th) calendar month thereafter, unless sooner terminated or extended as herein provided. Notwithstanding the Target Commencement Date, the Term will commence on the Commencement Date third business day ("Substantial Completion") after issuance of both (a) a ---- temporary certificate of occupancy for Landlord's Work, and shall end on (b) the Expiration Date, unless extended or sooner terminated Project Architect's certification that Landlord's Work has been completed substantially in accordance with the Plans so that Tenant will be able to use the Premises for the intended purpose, excepting only (i) Tenant's Work (including but not limited to the kitchen and the modular furniture) and (ii) kitchen-related mechanical, plumbing and electrical work and finishes ("Landlord's Kitchen Work") and Punchlist Items, the first of which shall be the obligation of Tenant and the second of which shall remain the obligation of Landlord. Landlord's Work shall mean the work to be done by Landlord shown on the Plans, excepting Tenant's Work. Tenant's Work shall mean the work to be done by Tenant described in Exhibit B. Landlord shall give Tenant sixty (60) days' prior written notice of Landlord's best estimate of the expected date of Substantial Completion of Landlord's Work. The temporary certificate of occupancy and the Project Architect's certification for Landlord's Work may contain stipulations and conditions to be fulfilled by Landlord so long as they do not materially interfere with Tenant's actual occupancy of the Premises and Tenant shall be able to use the Premises (including required parking) for the purposes contemplated by this Lease, which initially shall mean commencement of Tenant's Work, without material interference with Tenant's use and enjoyment of the Premises. Tenant shall take possession of the Premises no later than ten (10) business days after Substantial Completion. Landlord and Tenant shall execute a written statement specifying (a) the commencement date of the Term and (b) the termination date of the Term prior to Tenant's taking possession of the Premises. If Substantial Completion does not occur by the Target Commencement Date for any reason other than Tenant's default under this Lease, Landlord is delayed in delivering shall continue to use due diligence to complete construction and to deliver possession of all or any portion of the Premises to Tenant Tenant. Notwithstanding any provision in this Lease to the contrary:
(a) If Substantial Completion does not occur on or before April 17, 2000 (the "Adjusted Delivery Date"), as of the Commencement Date, Tenant will take possession on the such date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will may be extended so that the length by reason of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of eitherForce Majeure, the Delivery Date shall then Tenant's sole and exclusive remedy will be extended by one (1) day for each to receive one (1) day of free rent credit every day from the Adjusted Delivery Date until the earlier of forty-five (45) days thereafter or the date of Substantial Completion;
(b) If Substantial Completion does not occur on or before the forty-fifth (45th) day after the Adjusted Delivery Date, as such date may be extended by reason of Tenant Delay or force majeure)Force Majeure, Landlord shall then Tenant's sole and exclusive remedy will be to receive two (2) days of free rent credit Tenant against Minimum Annual Rent due under this Lease an amount equal to every day from the holdover portion forty- sixth (46th) day after the Adjusted Delivery Date until the earlier of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to ninetieth (90th) day thereafter or the contrary, if the Commencement Date has date of Substantial Completion; and
(c) If Substantial Completion does not occurred occur on or before one hundred ninety the ninetieth (19090th) days following day after the date that Landlord receives a building permit for the Tenant Improvements, Adjusted Delivery Date for any reason other than Tenant Delay or force majeureDelay, and regardless of Force Majeure, then Tenant shall have the right to terminate cancel this Lease by written notice to Landlord, as Tenant’s its sole and exclusive remedy with respect by notice given to such delayLandlord on or before ten (10) days thereafter, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice that the foregoing election of its intention to terminate this Lease if Substantial Completion remedies shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by prevent Tenant hereunder shall be promptly returned to Tenantfrom seeking specific performance of Landlord's obligations under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
TERM; POSSESSION. The Term of this Lease shall commence on the Commencement Date and shall end at 11:59 p.m. on the Expiration Datelast day of the Term (the “EXPIRATION DATE”), without the necessity for notice from either party, unless extended or sooner terminated in accordance with this Leasethe terms hereof. If Landlord Subject to the Rent Abatement Period, the Rent Commencement Date shall commence on the Completion Date; however, if the date of substantial completion is delayed by Tenant, the Rent Commencement Date shall commence as if the Premises were substantially complete on the Completion Date, as extended for reasons other than those caused by Tenant. However, if the delay in delivering possession commencement is due to Tenant’s non-negligent or non-willful actions, the Term shall commence as if the Premises were substantially complete on the Completion Date, but if twelve (12) months after the Rent Commencement Date Tenant is still unable to occupy the Premises as a result of all or any portion the Landlord’s failure to complete the Landlord’s Work, either Party may terminate this Agreement. Tenant’s occupancy of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of constitute Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred acceptance of such work by Landlord. Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant and its agents shall have the right right, at Tenant’s own risk, expense and responsibility to terminate enter the Premises prior to the Completion Date for the purpose of taking measurements and installing its furnishings and equipment, provided that Tenant does not interfere with or delay the work to be performed by Landlord and Tenant uses contractors and workers compatible with the contractors and workers engaged by Landlord. The applicable terms and provisions of this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect shall apply to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantearly access.
Appears in 1 contract
TERM; POSSESSION. The Term term of this Lease (the "TERM") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date"). The "Commencement Date" shall be 14 days after Landlord delivers written notice to Tenant that the prior tenant has vacated the Premises. Landlord shall notify Tenant in writing of the projected Commencement Date of the Lease within 5 days of determining said date. Landlord shall also notify Tenant in writing within 5 days if the said projected Commencement Date is changed. When the Commencement Date has been established, unless extended or sooner terminated Landlord and Tenant shall confirm the Commencement Date and Expiration Date in a commencement letter in the form attached as Exhibit D. Landlord and Tenant further acknowledge and agree that the Commencement Date may occur, and Tenant's obligation to pay Base Rent (as defined in Section 3 below) and perform the other obligations of Tenant under this Lease may commence before the date Landlord has tendered possession of the Premises to Tenant with the Tenant Improvements Substantially Complete. For purposes hereof, the Tenant Improvements shall be deemed to be "Substantially Completed" when they have been completed in accordance with this Leasethe Plans (as defined in Exhibit B attached hereto) except for finishing details, minor omissions, decorations and mechanical adjustments of the type normally found on an architectural "punch list". (The definition of Substantially Completed shall also define the terms "Substantially Complete" and "Substantial Completion"). Subject to Landlord's obligation, if any, to perform Tenant Improvements and Landlord's obligations under Section 6 hereof, the Premises are accepted by Tenant in "as is" condition and configuration. By taking possession of the Premises, Tenant agrees that the Premises are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises or the Building. If Landlord is delayed in delivering possession of all the Premises, or any portion thereof, or any other space due to the holdover or unlawful possession of such space by any party, Landlord shall use reasonable efforts to obtain possession of the space. The Commencement Date shall be delayed to the extent that Landlord fails to deliver possession of the Premises to Tenant as of the Commencement Datefor any reason including but not limited to, Tenant will take possession on the date Landlord delivers possession, which date will then become holding over by prior occupants. Any such delay in the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable subject Landlord to any liability for any loss or damage to Tenant resulting from any delay in delivering possession due therefrom. If the Commencement Date is delayed, the Termination Date under the Lease shall not be similarly extended. Notwithstanding anything herein to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence contrary, if the Tenant Improvements in the Premises are incomplete on the Commencement Date for any reason whatsoever (other than as a result of holding over by prior occupants, in which event the “Delivery Date”above paragraph shall control with respect to the period that Landlord is delayed in delivering the Premises as a consequence of such holdover), subject to the Commencement Date shall not be postponed or delayed. Instead, Tenant Delay or force majeure (acknowledges that the Tenant Improvements will be performed in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal Premises during Business Hours subsequent to the holdover portion Commencement Date. Landlord and Tenant agree to cooperate with each other in order to enable the Tenant Improvements to be performed by Landlord in a timely manner and with as little inconvenience to the operation of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord 's business as is equal to $17,031.13 per monthreasonably possible. Notwithstanding anything in this Lease herein to the contrary, if any delay in the completion of the Tenant Improvements or inconvenience suffered by Tenant during the performance of the Tenant Improvements shall not subject Landlord to any liability for any loss or damage resulting therefrom or entitle Tenant to any credit, abatement or adjustment of Base Rent or other sums payable under the Lease. Landlord shall proceed with due diligence to Substantially Complete the Tenant Improvements within a reasonable amount of time following the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to TenantDate.
Appears in 1 contract
TERM; POSSESSION. The Term term of this Lease (the "TERM") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date, unless extended or sooner terminated Date set forth in accordance with this Leasethe Basic Lease Information (the "EXPIRATION DATE"). If The "COMMENCEMENT DATE" shall be the earlier of (a) the date on which Landlord is delayed in delivering tenders possession of the Premises to Tenant, with all of Landlord's construction obligations, if any, "SUBSTANTIALLY COMPLETED" as provided in the Construction Rider attached as EXHIBIT B (the "CONSTRUCTION RIDER") or, in the event of any "TENANT DELAY," as defined in the Construction Rider, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant, with Landlord's written permission, actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so "SCHEDULED COMMENCEMENT DATE"); PROVIDED, HOWEVER, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage to Tenant resulting from any delay in delivering possession due to liabilities if the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements Premises are not Substantially Completed within one hundred (100) days following ready for occupancy by the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Scheduled Commencement Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if When the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that been established, Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then and Tenant shall have at the right to terminate this Lease by written notice to Landlord, as Tenant’s sole request of either party confirm the Commencement Date and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, Expiration Date in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantwriting.
Appears in 1 contract
TERM; POSSESSION. A. The Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Date, unless extended or sooner terminated in accordance with this Lease. If Landlord is delayed in delivering possession of all or any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises term (the “Delivery Term”) of this Sublease shall commence fifteen (15) days from the Execution Date (the “Commencement Date”) and shall expire at midnight on December 31, 2007, unless sooner terminated (the “Expiration Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contraryforegoing, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate extend the Term of this Lease Sublease for an additional period of five (5) years and three months by providing written notice to Landlord not less than 270 days prior to the expiration of the Term. The rent for the extended term of this Sublease shall be based on the prevailing market rate for similar property as negotiated by Landlord and Tenant.
B. Tenant acknowledges and agrees that if the Prime Lease is terminated prior to expiration of the Term for any reason other than a default caused solely by Landlord or pursuant to agreement between Prime Landlord and Landlord, as such termination shall not be a default by Landlord under this Sublease. In the event of any termination which gives rise to a default by Landlord under this Sublease, Landlord shall be liable to Tenant for all of Tenant’s sole damages, costs and exclusive expenses arising directly from such default, including without limitation the discounted present value, at the then-effective Prime Rate quoted by major money center banks as published in the Wall Street Journal, of the difference between (i) rent under this Sublease for the balance of the Term and (ii) any resulting direct lease from Prime Landlord to Tenant plus reasonable attorneys’ fees actually incurred and arising out of Landlord’s default. In the event Prime Landlord defaults under the terms of the Prime Lease and such default renders all or a substantial portion of the Premises untenantable, Landlord agrees to reasonably cooperate with Tenant to pursue any remedy with respect available to such delayLandlord under the Prime Lease or otherwise, which cooperation shall be undertaken at Tenant’s expense, except as provided above, subject to that Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned subrogated to TenantLandlord’s rights under the Prime Lease for recoupment of any such expense permitted under the Prime Lease.
Appears in 1 contract
Samples: Sublease (Time Warner Telecom Inc)
TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and set forth in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date, ”) unless extended as set forth herein. Landlord shall not be liable for any claims, damages or sooner terminated liabilities if the Premises are not ready for occupancy by the Commencement Date. Provided that Tenant has delivered the insurance certificates called for in accordance with this Lease. If Section 11.1(e) – Certificates of Insurance, the Security Deposit, and the prepaid Base Rent required under Section 3.1 – Base Rent, Landlord is delayed in delivering shall deliver possession of all or any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (of mutual execution and the Expiration Date will be extended so that the length delivery of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises Lease (the “Delivery Date”), subject to Tenant Delay or force majeure . Landlord shall install an exclusive Outdoor Area (defined in Section 44 below) demarcated by a vegetation hedge (as depicted in the event attached Exhibit A). Commencing as of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents shall have access to Landlord is equal the Premises during normal Business Hours to $17,031.13 per monthperform the Tenant Improvements described in Exhibit B - Construction Rider, to install Tenant’s furniture, fixtures and equipment, data information systems, security systems, computer and telephone cabling, computers and related office equipment, but only if during such period, Tenant and Tenant’s employees, contractors and vendors do not materially or adversely interfere with Landlord’s contractor completing work and renovations at the Project. Tenant shall not be obligated to pay Base Rent or Additional Rent prior to the Commencement Date, provided, however, commencing as of the Delivery Date, Tenant shall establish direct accounts with the all utility providers such that effective as of the Delivery Date, Tenant shall pay for and be liable for the cost of any utilities, trash disposal or services provided to Tenant at the Premises. Notwithstanding anything in this Lease to the contraryforegoing, if Txxxxx takes possession of the Premises before the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason purpose other than Tenant Delay or force majeureas expressly provided in this Section, then such possession shall be subject to the terms and conditions of this Lease and Tenant shall have pay Base Rent and Additional Rent, and any other charges payable hereunder to Landlord for each day of possession before the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to TenantCommencement Date.
Appears in 1 contract
TERM; POSSESSION. The Term term of this Lease ("Lease Term") shall be approximately seventy-two (72) months commencing on the eighty-fourth (84th) calendar day after the issuance of a building permit for the Tenant Improvements (the "Target Commencement Date"), subject to the provisions of this Paragraph 2, and of Paragraph 27, and ending on the last day of the seventy-second (72nd) calendar month thereafter, unless sooner terminated or extended as herein provided. Notwithstanding the Target Commencement Date, the Lease Term will commence on the Commencement Date tenth (10th) business day after Landlord notifies Tenant that a certificate of occupancy (or equivalent governmental approval of completion) has been issued for the Tenant Improvements (as defined in Paragraph 27) by the appropriate governmental agency, at which time the Premises will be deemed "ready for occupancy. The certificate of occupancy (or equivalent governmental approval of completion) may contain stipulations and shall end on conditions to be fulfilled by Landlord so long as it permits Tenant to take possession of the Expiration Date, unless extended or sooner terminated in accordance with Premises and to use the Premises for the purposes contemplated by this Lease. If Landlord is delayed in delivering Tenant shall take possession of all the Premises no later than thirty (30) business days after Landlord notifies Tenant that a certificate of occupancy (or equivalent governmental approval of completion) has been issued. The Premises shall be considered "ready for occupancy" notwithstanding that punchlist items of a minor nature not interfering with Tenant's intended beneficial use of the Premises exist. Landlord agrees to complete the punchlist items to Tenant's reasonable satisfaction at Landlord's sole expense within a period of time that is reasonable under the circumstances following the commencement date of the Lease Term. Landlord and Tenant shall execute a written statement specifying (a) the commencement date of the Lease Term and (b) the termination date of the Lease Term prior to Tenant's taking possession of the Premises. If the Premises are not ready for occupancy by the Tenant on the Target Commencement Date for any portion reason other than Tenant's default under this Lease, Landlord shall continue to use due diligence to complete construction and to deliver possession of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay)Tenant. Subject to Notwithstanding any provision in this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due Lease to the holdover contrary:
(a) If the Premises are not ready for occupancy by Tenant on or before the one hundredth (100th) calendar day after the issuance of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that a building permit for the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “"Adjusted Delivery Date”)") for any reason other than Tenant's default under this Lease, subject to Tenant Delay or force majeure (in the event of eithermajeure, the Delivery Date shall then Tenant's sole and exclusive remedy will be extended by one (1) day for each to receive one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to free rent for each day from the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred Adjusted Delivery Date until the Premises are ready for occupancy; and
(b) If the Premises are not ready for occupancy by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety the fiftieth (19050th) days following day after the date that Landlord receives a building permit for the Tenant Improvements, Adjusted Delivery Date for any reason other than Tenant's default under this Lease or Tenant Delay or force majeureDelay, then Tenant shall have the right to terminate cancel this Lease by written notice to Landlord, as Tenant’s its sole and exclusive remedy with respect by notice given to such delay, except as provided above, subject to Tenant giving Landlord thirty on or before ten (3010) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantdays thereafter.
Appears in 1 contract
Samples: Lease Agreement (Earthlink Inc)
TERM; POSSESSION. The Term term of this Lease (the "Term") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date, unless extended or sooner terminated in accordance with this Lease"). If The "Commencement Date" shall be the earlier of (a) 120 days following the date on which Landlord is delayed in delivering tenders possession of the Premises to Tenant, with all of Landlord's construction obligations, if any, "Substantially Completed" as provided in the Construction Rider attached as Exhibit B (the "Construction Rider") or, in the event of any "Tenant Delay," as defined in the Construction Rider, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so "Scheduled Commencement Date"); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage to Tenant resulting from any delay in delivering possession due to liabilities if the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements Premises are not Substantially Completed within one hundred (100) days following ready for occupancy by the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Scheduled Commencement Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if When the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that been established, Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then and Tenant shall have at the right to terminate this Lease by written notice to Landlord, as Tenant’s sole request of either party confirm the Commencement Date and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, Expiration Date in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantwriting.
Appears in 1 contract
TERM; POSSESSION. a. The Term term of this Lease shall commence be for a period of five (5) years commencing on the later of substantial completion of the Landlord's Work (as defined below and in the Workletter attached as Exhibit C) or first day of January, 1997 (01/01/97) (hereinafter called the "Commencement Date Date") and shall end ending at midnight on the 31st day of December, 2001 (12/31/01) (hereinafter called the "Expiration Date"), unless extended or sooner terminated in accordance with this Leaseas hereinafter provided. If Landlord is delayed in delivering shall deliver possession of all or any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become or prior to the Commencement Date of the term hereof, free and clear of all tenancies and occupancies, broom clean and in good order and condition and with the alterations and improvements to be made by Landlord in accordance with Exhibits A and C, attached hereto and made a part hereof, substantially completed in accordance with the Work Agreement attached as Exhibit C in a first-class manner. The Landlord's Work shall be considered "substantially complete" and "substantial completion" shall be achieved for purposes of this Lease when all of the following shall have occurred (i) Landlord has performed or completed all of the Landlord's Work (as defined herein and in the Expiration Date will Lease), except only for punchlist items of a quantity and character which do not substantially interfere with Tenant's ability to occupy or use the Premises or to complete improvements to the Premises to be extended so made by Tenant and (ii) all approvals, certificates of occupancy and permits (other than Tenant's business licenses and those permits and approvals from the appropriate governmental authorities pertaining to the Improvements required for the legal and practical occupancy of the Premises for Tenant's intended use have been approved for issuance, and (iii) the Landlord and all subcontractors have provided certificates of payment for all of Landlord's Work and (iv) the architect certifies in writing that the length Premises are "substantially complete" as defined above; and (v) Landlord has effected removal of all rubbish and debris, such that Tenant may commence its business operations from the Premises immediately after Landlord completes such clean-up. Landlord shall provide Tenant with Thirty (30) days prior notice of substantial completion of the Term remains unaffected by such delay)Premises. Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in deliver the Premises (and substantially complete the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred Landlord's Work on or before one hundred ninety the sixtieth (19060th) days day following the Commencement date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate of this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to TenantLease.
Appears in 1 contract
Samples: Lease (Iwo Holdings Inc)
TERM; POSSESSION. 2.1 The Term term ("Term") of this Lease Sublease shall commence on August 15, 2003 ("Commencement Date") and shall expire on October 31, 2009 ("Expiration Date"), unless sooner terminated pursuant to the terms hereof or the Lease. Notwithstanding the foregoing, it is expressly understood and agreed by Subtenant that this Sublease is subject to approval of Landlord pursuant to the provisions of the Lease. In the event this Sublease is not approved by Landlord, Sublandlord shall not be liable to Subtenant for any costs, expenses (including, without limitation, attorneys fees and expenses) or for any damages in any manner whatsoever, and this Sublease shall be null and void and of no force and effect ab initio.
2.2 Subject to receipt of a fully executed Sublease agreement, the Deposit, the Prepaid Rent, insurance certificates required by the Lease and this Sublease and Landlord's consent to this Sublease including, without limitation, execution by Landlord, Sublandlord and Subtenant of a written consent to this Sublease, Sublandlord shall tender to Subtenant possession of the Subleased Premises on the Commencement Date set forth in Section 2.1 above. If tender of possession of the Subleased Premises by Sublandlord to Subtenant is delayed through no fault of Sublandlord beyond the date stated in the preceding sentence, including, without limitation, any delay occasioned by the approval by Landlord and execution by all parties of a written consent to this Sublease, the Sublease shall end remain in full force and effect, except that Commencement Date and Abatement Period (as hereinafter defined) only shall be extended on a day to day basis for the period until possession shall be tendered to Subtenant unless such delay is caused by act, omission or misconduct of Subtenant (it being agreed that neither the dates applicable for calculation of the Monthly Base Rent set forth in Section 3.1 below nor the Expiration Date, unless extended or sooner terminated in accordance with this LeaseDate shall be so extended). If Landlord is delayed in delivering possession of all or any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be is extended so that the length of the Term remains unaffected by such delay). Subject pursuant to this Section 4paragraph, Landlord Sublandlord and Subtenant shall not be liable for any loss or damage execute an addendum to Tenant resulting from any delay in delivering possession due to this Sublease stating the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery actual Commencement Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenant.
Appears in 1 contract
TERM; POSSESSION. The Term term of this Lease (the "Term") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date"). The "Commencement Date" shall be the earlier of (a) November 1, unless extended 1999, or sooner terminated (b) the date upon which Tenant, with Landlord's written permission, actually occupies and conducts business in any portion of the Premises. Tenant understands and agrees that the Premises are currently leased by another tenant (the "Existing Tenant") in accordance with this Leasea lease which expires January 31, 2003. If Landlord is delayed in delivering agrees to use its good faith efforts to negotiate a termination of lease with the Existing Tenant and deliver possession of all or any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following November 1, 1999. If, despite Landlord's good faith efforts, Landlord is unable to deliver possession of the date that Premises to Tenant on or before November 2, 1999, Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall each have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance providing written notice of its intention termination to the other and this Lease shall be of no further force and effect upon the parties hereto. Such right of termination shall constitute Tenant's sole remedy for Landlord's failure to deliver possession of the Premises. Landlord shall not be liable for any claims, damages or liabilities if Landlord is unable to deliver possession of the Premises to Tenant by November 2, 1999. In the event Landlord tenders possession of the Premises to Tenant, and Tenant accepts possession thereof, after November 2, 1999, Tenant's right to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantbecome void.
Appears in 1 contract
Samples: Lease Agreement (Mediaplex Inc)
TERM; POSSESSION. (a) If Substantial Completion of the Building Shell has not occurred and Landlord has not delivered possession of the Premises to Tenant by November 1, 2004, for any reason other than because of Force Majeure Events, Tenant shall have the right at any time thereafter before such delivery, to terminate this Lease by giving not less than sixty (60) days prior’ written notice of such termination to Landlord. If this Lease is terminated by Tenant for Landlord’s failure to deliver possession of the Premises to Tenant, Landlord shall promptly reimburse Tenant for all costs incurred by Tenant in connection with this Lease, including Tenant’s reasonable attorneys’ fees.
(b) The Initial Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Date, unless extended or sooner terminated in accordance with the terms of this Lease. If .
(c) Provided that Landlord is delayed has not given Tenant notice of monetary default more than two (2) times in delivering possession of all or any portion of the Premises to Tenant as of Lease year immediately preceding the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the applicable Expiration Date will be extended so and that the length there then exists no Event of the Term remains unaffected Default by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery DateLease, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate extend the Base Term for two (2) additional periods of seven (7) years each (the first of which is referred to herein to as the “First Extended Term” and the second of which is referred to herein as the “Second Extended Term”) (the First Extended Term and the Second Extended Term are individually referred to herein as an “Extended Term”). If Tenant exercises any of its rights to extend the Lease Term, all of the terms of this Lease shall continue in full force and effect during any Extended Term except that there shall be no further options to extend beyond the Second Extended Term and the Minimum Annual Rent shall be determined in accordance with Section 4(d) below. The right to extend the Lease Term is not assignable separately from the Lease, but shall be exercisable by Tenant’s permitted successors and assigns Tenant must exercise its right to extend the Lease Term by giving Landlord written notice of such election on or before the date which is one (1) year prior to Landlordthe date on which this Lease would otherwise expire. Any notice from Tenant exercising Tenant’s right to extend the Lease Term is hereinafter referred to as “Tenant’s Extension Notice”.
(d) The Minimum Annual Rent during the first year of the First Extended Term shall be equal to ninety-five percent (95%) of the Fair Market Rental Value of the Premises. The Fair Market Rental Value shall be conclusively deemed to equal the then fair market value for properties of equivalent quality, size and utility in the Philadelphia region, but without considering the value of those leasehold improvements which Tenant has made at Tenant’s expense provided that the Minimum Annual Rent for the first year of each Extended Term shall not be less than the Minimum Annual Rent payable by Tenant in the last year of the Initial Term or the First Extended Term, as Tenant’s sole applicable. Furthermore, beginning on the first day of the second Lease year of the First Extended Term and exclusive remedy continuing through each Lease year of the Second Extended Term (if Tenant has exercised its option with respect thereto) (each a “Base Rent Adjustment Date”), the Minimal Annual Rent for each year of each Extended Term shall be adjusted by the annual change in the CPI; but in no event shall such Minimum Annual Rent for each such Lease year be less than the Minimum Annual Rent payable by Tenant in the immediately preceding Lease year. As used herein, “CPI” means the Consumer Price Index for All Urban Wage Earners and Clerical Workers - United States Average; All Items (1982- 1984=100), as issued from time to time by the Federal Bureau of Labor Statistics or any successor agency or any other measure employed in lieu of such delayindex that measures the cost of living nationally (hereinafter called the “CPI”) between the commencement date of the first Lease year of the First Extended Term and Base Rent Adjustment Date. If the CPI figure for a Base Rent Adjustment Date is not immediately available, except as provided above, the Landlord may estimate such figure (subject to Tenant giving Landlord adjustment and an appropriate credit or debit to Rent previously paid) pending issuance of such figure. Within thirty (30) days’ advance written notice days after receipt of its intention Tenant’s Extension Notice, Landlord shall forward to terminate this Lease if Substantial Completion Tenant in writing Landlord’s determination of the Fair Market Rental Value. If Tenant objects to the Fair Market Rental Value as quoted by Landlord, Landlord and Tenant shall attempt in good faith to negotiate a mutually acceptable determination of Fair Market Rental Value within a period of thirty (30) days following the initial quotation by Landlord. If such negotiations have not occur been concluded by a mutual agreement within such thirty (30) day period, either party shall have the right to have the Fair Market Rental Value determined by appraisal. The party who desires to have the Fair Market Rental Value determined by appraisal shall notify the other party of its exercise of such right. In such case, each party shall, within thirty (30) days after delivery of the notice requiring appraisal, appoint an independent certified MAI appraiser having at least ten (10) years of experience appraising office and/or industrial buildings in which event all amounts prepaid or deposited Philadelphia Pennsylvania (a “Qualified Appraiser”) and notify the other party of the appraiser appointed. Each appraiser so appointed shall acknowledge and agree in writing that he has read and shall abide by Tenant hereunder the provisions of this Section 4(d) If a party does not appoint an appraiser within said 30-day period, the single appraiser appointed shall be promptly returned the sole appraiser and shall determine the Fair Market Rental Value for the Extended Term. If two Qualified Appraisers are appointed, they shall be instructed to determine the Fair Market Rental Value of the Premises for the Extended Term and deliver a copy of such determination to Landlord and Tenant within thirty (30) days after their appointment. If the two appraisals differ by less than five percent (5%) of the lower appraisal, the Fair Market Rental Value shall be conclusively deemed to be equal to the arithmetic average of the two appraisals. If the two appraisals differ by more than five percent (5%) of the lower appraisal, the two appraisers shall be instructed to jointly designate a third Qualified Appraiser, who shall be instructed to provide his or her appraisal to the parties within twenty (20) days. Thereupon the Fair Market Rental Value shall be deemed to be the arithmetic average of the two closest appraisals, with the third appraisal being disregarded. The determination of Fair Market Rental Value in the manner set forth above shall be final and binding on Landlord and Tenant. If based on the determination of Fair Market Rental Value as aforesaid Tenant does not desire to proceed with the Extended Term, Tenant shall have the right to revoke its exercise of the option to extend by giving notice to Landlord within fifteen (15) days after such determination. The cost of Landlord’s appraiser shall be borne by Landlord, the cost of Tenant’s appraiser shall be borne by Tenant, and the cost of the third appraisal shall be shared equally between Landlord and Tenant; provided, however, that if Tenant revokes its exercise of the option to extend the Term as permitted by the preceding sentence, Tenant shall be responsible for the fees and expenses of all appraisers.
Appears in 1 contract
Samples: Office and Industrial Lease Agreement (WuXi PharmaTech (Cayman) Inc.)
TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date”). The “Commencement Date” shall be (a) the date on which Landlord has “Substantially Completed” Landlord’s construction obligations, unless extended or sooner terminated if any, with respect to the improvements (the “Tenant Improvements”) to be constructed and installed in accordance with this Lease. If the Premises by Landlord is delayed (or, in delivering the event of any “Tenant Delay,” the date on which Landlord could have done so had there been no such “Tenant Delay”), all as provided in the Construction Rider attached as Exhibit B (the “Construction Rider”), and tendered possession of all the Premises to Tenant; or (b) any earlier date upon which Tenant, with Landlord’s written permission, actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Premises. The parties anticipate that the Commencement Date (and will occur on or about the Expiration Scheduled Commencement Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements set forth in the Premises Basic Lease Information (the “Delivery Scheduled Commencement Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if When the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that been established, Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then and Tenant shall have confirm the right to terminate Commencement Date and Expiration Date in writing, using a Commencement Date Memorandum substantially in the form attached hereto as Exhibit C. As used in this Lease, the first “Lease by written notice to Landlord, as Tenant’s sole Year” shall be the period from (and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty including) the Commencement Date through (30and including) days’ advance written notice the last day of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, the calendar month in which event all amounts prepaid or deposited by Tenant hereunder the first anniversary of the Commencement Date falls, and each period of twelve full consecutive calendar months thereafter shall be promptly returned to Tenanta subsequent Lease Year.
Appears in 1 contract
TERM; POSSESSION. The Term term created by this Sublease shall be for a period commencing upon the earlier of this Lease shall commence occupancy or November 1, 2000 (the "Commencement Date”) and expiring on the Commencement Date and shall end on the Expiration DateApril 30, 2001 unless extended or sooner earlier terminated in accordance with the provisions of this Sublease or the terms of the Master Lease. If Landlord is delayed in delivering Sublessee shall be entitled to possession of all or any portion of the Premises to Tenant as of from and after the Commencement Date; provided however, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord Sublessor shall not be liable for any loss or damage damages for the failure to Tenant resulting from any delay in delivering deliver possession by said date but rental due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date hereunder shall be extended by one (1) day for each one (1) day abated until the later of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety such time as Sublessor delivers possession of the Premises to Sublessee. Provided that the preconditions set forth in subparagraphs (190i) days following through (iii) below have been satisfied, Sublessee shall be entitled to occupy and use the Premises from and after the date that Landlord receives a building permit of vacancy by Sublessor and prior to the Commencement Date for the Tenant Improvementspurpose of making certain improvements to the Premises as set forth in Section 17 hereof, for any reason other than Tenant Delay or force majeure, then Tenant which occupancy and use shall have be on and subject to all of the right to terminate terms and conditions set forth in this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delaySublease, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion that rental shall not occur within such thirty commence until the Commencement Date. Upon (30i) day periodthe full execution and delivery of this Sublease by Sublessor Sublessee and Landlord (ii) Sublessee’ s delivery of the security deposit required hereunder; and (iii) Sublessor’ s receipt, in which event all amounts prepaid or deposited review and approval of the insurance certificates required to be submitted by Tenant hereunder Sublessee hereunder; Sublessee shall be promptly returned entitled to Tenantoccupy and use the Premises as aforesaid.
Appears in 1 contract
Samples: Sublease Agreement
TERM; POSSESSION. 2.1 The Term term of this Lease (the "Term") shall commence on the Commencement Date and Date, as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date, unless extended or sooner terminated in accordance with this Lease"). If The "Commencement Date" shall be the earlier of (a) the date on which Landlord is delayed in delivering tenders possession of floors 10, 11 & 12 of the Premises to Tenant, with all of Landlord's construction obligations "Substantially Completed" as provided in the Construction Rider attached as Exhibit 13 (the "Construction Rider"), provided, however, that Tenant shall have been permitted access to the Premises no less than thirty days prior to the Commencement Date for the purpose of installing furniture, fixtures and equipment, and in no event will the Commencement Date occur until Tenant's 30 day early access period has expired, or in the event of any "Tenant Delay," as defined in the Construction Rider, the date on which Landlord could have done so bad there been no such Tenant Delay; or (b) the date upon which Tenant, with Landlord's written permission actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay"Scheduled Commencement Date"). Subject to this Section 4; provided, however, that, except as otherwise provided below, Landlord shall not be liable for any loss claims, damages or damage to Tenant resulting from any delay in delivering possession due to liabilities if the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements Premises are not Substantially Completed within one hundred (100) days following ready for occupancy by the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Scheduled Commencement Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if When the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that been established, Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then and Tenant shall have at the right request of either party confirm the Commencement Date and Expiration Date in writing. Prior to terminate this Lease by written notice to Landlordthe Commencement Date, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenant.must:
Appears in 1 contract
TERM; POSSESSION. 2.1 The Term term of this Lease (the “Term”) shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (The “Expiration Date, unless extended or sooner terminated in accordance ”). The “Commencement Date” shall be the Rent Commencement Date (as that term is defined below) with this Lease. If Landlord is delayed in delivering possession of all or any portion respect to the last floor of the Premises delivered by Landlord to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Tenant. The parties anticipate that the Commencement Date will occur on or about February 8, 2003 (and the Expiration Date will be extended so “Scheduled Commencement Date”); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date. If the Premises are not delivered by the Landlord to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside Tenant, with all of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred Work substantially complete by May 8, 2003 (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Outside Substantial Completion Date”), subject to Tenant Delay or the force majeure (in the event of either, the Delivery Date shall be extended by one (1not to exceed 180 days) day for each one (1) day of or any Tenant Delay or force majeure(as that term is hereinafter defined), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by giving Landlord written notice at any time after the Substantial Completion Deadline and prior to substantial completion of Landlord’s Work, as in which case this Lease will be terminated. Landlord and Tenant acknowledge and agree that Landlord shall deliver to Tenant the Premises in increments of two (2) floors every 30-45 days in the condition required by Exhibit F attached hereto. Notwithstanding anything to the contrary contained herein, all of the terms and conditions of this Lease shall apply to the floors of the Premises delivered to Tenant prior to Commencement Date; and the rent commencement date (the “Rent Commencement Date”) with respect to each floor delivered to Tenant shall be the earlier of (a) one hundred twenty (120) days after the date on which Landlord tenders possession of such floor of the Premises to Tenant with Landlord’s Work therein Substantially Complete or the date such floor would have been Substantially Complete but for Tenant Delays, or (b) the date upon which Tenant, with Landlord’s sole written permission, actually occupies and exclusive remedy conducts business on such floor(s) of the Premises. Tenant shall pay to Landlord Base Rent and Additional Rent with respect to any such floor(s) of the Premises commencing on the Rent Commencement Date with respect to such delayfloor(s) of the Premises. Landlord and Tenant acknowledge and agree that certain rent and other obligations may commence earlier than the Commencement Date, except on a phased basis, as floors within the Premises are delivered to Tenant, all as provided above. However, for purposes of determining the Term and the first and subsequent lease years, there shall be a single Commencement Date, determined as provided above, subject with respect to the Building. Promptly after the Rent Commencement Date with respect to each floor is ascertained, Landlord and Tenant giving shall execute, in recordable form, a written declaration setting forth the Rent Commencement Date for such floor. Promptly after the Commencement Date with respect to this Lease, Landlord thirty (30) days’ advance written notice and Tenant shall confirm such Commencement Date in writing in the form of the Commencement Date Agreement attached hereto as Exhibit C. “Tenant Delay” means any act or omission of Tenant or its intention to terminate this Lease if agents, employees, vendors or contractors that actually delays the Substantial Completion shall not occur of the Landlord Work, including, without limitation: (1) Tenant’s failure to furnish information or approvals within such thirty any time period specified in this Lease, including the failure to prepare or approve preliminary or final plans by any applicable due date; (302) day period, informed by Landlord that the selection may result in which event all amounts prepaid a delay; (3) changes requested or deposited made by Tenant hereunder to previously approved plans and specifications, including Additional Shell Construction Items; (4) performance of work in the Premises by Tenant of Tenant’s contractor(s) during the performance of the Landlord Work after reasonable notice from Landlords that such work is interfering with the progress of Landlord Work; or (5) if the performance of any portion of the Landlord Work depends on the prior or simultaneous performance of work by Tenant, a delay by Tenant or Tenant’s contractor(s) in the completion of such work after reasonable notice from Landlord. If the parties disagree as to whether or not a “Tenant Delay” has occurred, the parties shall resolve such dispute through arbitration as provided in Section 37. As used in this Lease, “Month” shall mean a calendar month, except that if the Term beings on a day other than the first day of a calendar month, the first “month” shall be promptly returned the period from (and including) the Commencement Date through (and including) the last day of the first full calendar month following the Commencement Date falls and if the Term ends on a day other than the last day of a calendar month, the last “month” shall be the period from (and including) the day on which the Term ends. Landlord and Tenant each will use commercially reasonable efforts to Tenantaccommodate the other’s work, so that neither unreasonably interferes with or causes delay to the other.
Appears in 1 contract
Samples: Sub Sublease Agreement (Enernoc Inc)
TERM; POSSESSION. The Term term of this Lease shall commence on the date (the “Commencement Date”) which is the later of (A) the Scheduled Commencement Date and or (B) the date by which all of the following have occurred (1) Landlord tenders possession of the Premises to Tenant in good, vacant broom clean condition, with all building systems in good working order and, with all of Landlord’s construction obligations, if any, “Substantially Completed” as provided in the Construction Rider attached as Exhibit “A”. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in Section 2(e) above. The term of this Lease shall end on the Expiration Date, unless extended or sooner terminated Date set forth in accordance with this LeaseSection 2(e) above. If Landlord is delayed in delivering Landlord, for any reason whatsoever, cannot deliver possession of all or any portion of the Premises to Tenant as of on the Scheduled Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage to Tenant resulting from any delay therefrom, but in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the that event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following no rent shall be payable until the date that on which Landlord receives a building permit to commence the delivers possession. The Rent payable by Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to shall not commence until the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following Rent Commencement Date (as defined below). In addition, notwithstanding the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contraryforegoing, if the Commencement Date (as the same may be extended for Tenant Delays (as provided below)) has not occurred on or before the Scheduled Commencement Date, then the Rent Commencement Date shall be delayed by one hundred ninety (190) days following day beyond the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall it would have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantotherwise.
Appears in 1 contract
Samples: Office Lease (Liveworld Inc)
TERM; POSSESSION. 2.1 The Term term of this Lease (the "Term") (and the date when Tenant's obligations hereunder, except as otherwise expressly provided herein, commence) shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date, unless extended or sooner terminated in accordance with this Lease"). If The "Commencement Date" shall be the earlier of (a) the date on which Landlord is delayed in delivering tenders possession of all or any portion of the Premises to Tenant, with all of Landlord's construction obligations "Substantially Completed" as provided in the Construction Rider attached as Exhibit B (the "Construction Rider"); or (b) the date on which Tenant as lawfully takes possession of the Commencement Date, Tenant will take possession on Premises for the date Landlord delivers possession, which date will then become purpose of commencing business. In no event shall the Commencement Date occur prior to January 1, 2003 without Tenant's prior written consent. Landlord will give Tenant thirty (and 30) days notice of the Expiration expected date of Substantial Completion. The parties anticipate that the Commencement Date will be extended so occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (the "Scheduled Commencement Date"); provided, however, that the length of the Term remains unaffected by such delay). Subject to except as otherwise provided in this Section 4, Lease Landlord shall not be liable for any loss claims, damages or damage to liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date. Tenant resulting from any shall not interfere with construction of the Premises or do anything that could delay in delivering possession due Substantial Completion or the Scheduled Commencement Date, and shall at all times act diligently and cooperate with Landlord to the holdover fullest extent possible to prevent the occurrence of any existing tenant or other circumstances outside of Landlord’s reasonable controlTenant Delay. In If the event that the Tenant Improvements Premises are not Substantially Completed within one hundred (100) days following ready for occupancy by the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Scheduled Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeureTenant's Default under this Lease, then Landlord shall diligently complete construction at the earliest practicable date. When the Commencement Date has been established, Landlord and Tenant shall have confirm the right to terminate this Lease by written notice to Landlord, as Tenant’s sole Commencement Date and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, the Expiration Date in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantwriting.
Appears in 1 contract
TERM; POSSESSION. (a) The Term initial term of this Lease shall commence (the “Initial Term”) is for a period of three (3) Lease Years commencing on the date (the “Commencement Date Date”) the Premises are delivered to Tenant in “substantially completed” condition (as defined in Paragraph 23), subject to adjustment for Tenant Delays (defined below), and shall end continue until midnight on the last day of the third Lease Year (the “Expiration Date”), unless extended or sooner terminated as hereinafter provided. The Initial Term, together with each and every “Extended Term” (as defined in accordance with this LeaseParagraph 22 hereof) which shall be duly exercised by Tenant pursuant to the provisions of Paragraph 22, are hereinafter collectively called the “Term”. If The estimated Commencement Date is August 1, 2004 (the “Estimated Commencement Date”). Landlord is delayed in delivering shall deliver possession of all or any portion of the Premises to Tenant free and clear of all tenancies and occupancies, broom clean and in good order and condition and with all alterations and improvements, if any, to be made by Landlord as may be elsewhere provided for in this Lease, substantially completed in a first-class workmanlike manner. If for any reason Landlord has not delivered to Tenant possession of the Premises by the Estimated Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (this Lease shall remain in effect and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable to Tenant for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover therefrom, except as otherwise provided herein.
(b) For purposes of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of eitherthis Lease, the Delivery first “Lease Year” shall mean the period commencing on the Commencement Date shall be extended by one and ending twelve (112) day for each one (1) day of Tenant Delay or force majeure)months thereafter, Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, except that if the Commencement Date is other than the first day of a calendar month, the first “Lease Year” shall mean the period commencing on the Commencement Date and ending on the last day of the twelfth (12th) full calendar month after the Commencement Date. Thereafter, the term “Lease Year” shall mean a period equal to twelve (12) full calendar months, except that if the Commencement Date is other than the first day of a calendar month the final “Lease Year” shall be extended as necessary to ensure that the Lease expires at the end of the Term.
(c) If the Commencement Date of the Lease has not occurred on or before one hundred ninety (190) days following the Estimated Commencement Date, and if the cause of the delay in the occurrence of the Commencement Date is solely attributable to Tenant, then the Lease shall begin on the date that Landlord receives a building permit the Commencement Date otherwise would have occurred but for the Tenant Improvementsdelays (“Tenant Delays”). Tenant Delays shall include, for without limitation, those caused by (a) any reason other than Tenant Delay or force majeurechanges to the Work (defined in Paragraph 23) requested by Tenant, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as and (b) Tenant’s sole or Tenant’s agents’ interference with Landlord’s performance of the Work. All costs and exclusive remedy with respect expenses occasioned by a Tenant Delay, including, without limitation, increases in labor or materials, shall be borne by Tenant.
(d) Following the date on which Landlord delivers possession of the Premises to such delayTenant and the Commencement Date, except as provided aboveLandlord may prepare and deliver to Tenant a commencement date memorandum (the “Commencement Date Memorandum”) in the form of EXHIBIT “D”, attached hereto, subject to such changes in the form as may be required to insure the accuracy thereof. The Commencement Date Memorandum shall certify the date on which Landlord delivered possession of the Premises to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in and the dates upon which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantthe Term commences and expires.
Appears in 1 contract
TERM; POSSESSION. The Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Date, unless extended or sooner terminated in accordance with this Lease. If Landlord is delayed in delivering possession of all or any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control, unless such delay would cause delivery to be later than September 1, 2009, in which event the Commencement Date will be extended until the date that Landlord delivers the Premises to Tenant. In the event that Landlord is unable to deliver the Tenant Improvements are not Substantially Completed within one hundred (100) days following Premises by September 30, 2009, then the Commencement Date will be extended until the date that Landlord receives a building permit to commence the Tenant Improvements in delivers the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date and Tenant shall be extended by entitled to extend the Rent Abatement Period (as defined in Section 1(f) above) on a one (1) day for each one (1) day of Tenant Delay or force majeure)delay basis for each day Landlord fails to deliver the Premises between October 1, 2009 and November 30, 2009. In the event that Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following delivered possession of the date that Landlord receives a building permit for the Premises to Tenant Improvementsby November 30, for any reason other than Tenant Delay or force majeure2009, then Tenant shall have the right to terminate this Lease by right, upon written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delaydelivered not later than December 1, except as provided above2009, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned and receive a refund of the Security Deposit and any advance Rent previously paid to TenantLandlord.
Appears in 1 contract
TERM; POSSESSION. The Term term of this Lease (the "Term") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date"). The "Commencement Date" shall be the earlier of (a) the later of (i) the date that is three hundred thirty (330) days after the date Landlord receives the Approvals (defined herein), unless extended or sooner terminated in accordance with this Lease. If (ii) the date on which Landlord is delayed in delivering tenders possession of the Premises to Tenant, with all of Landlord's construction obligations, "Substantially Completed" as provided in the Construction Rider attached as Exhibit B (the "Construction Rider") or, in the event of any "Tenant Delay," as defined in the Construction Rider, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant, with Landlord's written permission, actually occupies and conducts business in any portion of the Premises to Tenant Premises. Landlord acknowledges that as of the Commencement Datedate of Landlord's signature of this Lease, no Tenant will take possession on the date Landlord delivers possession, which date will then become Delay has occurred. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so "Scheduled Commencement Date"); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage to Tenant resulting from any delay liabilities except those specifically provided for in delivering possession due to Section 2.1.1 if the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements Premises are not Substantially Completed within one hundred (100) days following ready for occupancy by the date that Landlord receives a building permit to commence Scheduled Commencement Date. When the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Commencement Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure)has been established, Landlord and Tenant shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to at the holdover portion request of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following either party confirm the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per monthCommencement Date and Expiration Date in writing. Notwithstanding anything in this Lease herein to the contrary, if the Commencement Date parties acknowledge that Landlord has not occurred on or before one hundred ninety (190) days following received final approval of the date that Landlord receives a building permit Planned Unit Development for the Tenant ImprovementsPremises, for any reason other than Tenant Delay or force majeure, then Tenant shall have and final approvals from the right to terminate this Lease by written notice to Landlord, as Tenant’s sole MPCA and exclusive remedy watershed district with respect to the Premises (collectively, the "Approvals") and that to the extent that any delays in obtaining such delayApprovals delay Landlord's commencement or completion of construction of the Premises, except as provided abovethen the time or deadline for all performances by Landlord set forth in this Lease and the Construction Rider (including without limitation, subject the Scheduled Commencement Date and the various deadlines set forth in Section 2.1.1) shall be extended one day for each day from and after September 15, 2007 through and including the date Landlord receives such Approvals. Landlord shall promptly notify Tenant in writing of the date Landlord obtains the Approvals and of any construction delays caused by delay in obtaining the Approvals. Upon request by either party, the parties agree to Tenant giving confirm the extension of any applicable time or deadline for performance by Landlord thirty pursuant to a written Addendum to this Lease. Notwithstanding anything herein to the contrary, the parties hereby acknowledge and agree that if Landlord obtains the Approvals on October 5, 2007, then delays experienced by Landlord in obtaining the Approvals will cause the Scheduled Commencement Date to be delayed until September 5, 2008 and will similarly extend the time or deadlines for performance set forth in this Lease (30including without limitation Section 2.1.1), by a period of twenty (20) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenant.
Appears in 1 contract
TERM; POSSESSION. The Term term of this Lease (the "Term") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date, unless extended or sooner terminated in accordance with this Lease"). If The "Commencement Date" shall be the earlier of (a) the date on which Landlord is delayed in delivering tenders possession of the Premises to Tenant, with all of Landlord's construction obligations, "Substantially Completed" as provided in the Construction Rider attached as Exhibit B (the "Construction Rider") or, in the event of any "Tenant Delay," as defined in the Construction Rider, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant, with Landlord's written permission, actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so "Scheduled Commencement Date"); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage to liabilities except those specifically provided for in Section 2.1.1 if the Premises are not ready for occupancy by the Scheduled Commencement Date. When the Commencement Date has been established, Landlord and Tenant resulting from any delay shall at the request of either party confirm the Commencement Date and Expiration Date in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable controlwriting.
2.1.1. In the event that Landlord does not deliver possession of the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay by August 1, 2008, and such failure is not caused by any of the events described in Section 26 — Force Majeure — or force majeure (by Tenant Delay, Tenant shall receive a credit against Rent first coming due in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to one day's Rent for each day of delay. By way of example, if Landlord delivers possession of the holdover portion of Substantially Completed Premises to Tenant on August 5, 2008 (and such delay was not caused by a Force Majeure or Tenant Delay), Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by 's liability for Rent would commence on August 10, 2008.
2.1.2. Tenant following the Delivery Date, which Tenant represents agrees to pay Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease up to the contrary, if the Commencement Date has not occurred on or before one hundred ninety sum of One Hundred Seventy Five Thousand and 00/100 Dollars (190$175,000.00) days following the date that Landlord receives a building permit for to defray Landlord's increased cost of construction of the Tenant Improvements, for including without limitation, premium time and other construction methods, necessary to change the Scheduled Commencement Date to July 1, 2008. Said increased construction costs may be invoiced by Landlord to Tenant on a monthly basis and shall be due and payable by Tenant within fifteen (15) days after receipt of such invoice(s) from Landlord specifying the increased construction costs incurred by Landlord.
2.1.3. Landlord's obligation to deliver the Premises Substantially Complete by the deadlines set forth in the Lease, as amended hereby, is subject to the following conditions: (i) the City of New Brighton inspectors being available when requested by Landlord, it being agreed that the failure of said condition shall constitute a Force Majeure delay so long as the inspection delay is outside Landlord's reasonable control, and (ii) the following additional conditions, it being agreed that any reason other than delay in timely completing any such conditions shall constitute a Tenant Delay or force majeure, then Delay:
(a) Tenant shall have the right to terminate notify Landlord in writing of Tenant's furniture installation schedule by March 15, 2008.
(b) Tenant, via its union contractors as described in Paragraph 5 of this Lease Amendment, shall complete installation of any modular furniture systems requiring electrical hookups by written notice to LandlordJune 15, as Tenant’s sole and exclusive remedy with respect to such delay2008, except as provided aboveprovided, subject however, that Landlord has afforded early entry to Tenant giving Landlord thirty (30) days’ advance written notice of its intention pursuant to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day periodParagraph 5 no later than May 15, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenant2008.
Appears in 1 contract
Samples: Lease (Harvard Bioscience Inc)
TERM; POSSESSION. The Term term of this Lease (the "Term") shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date, unless extended or sooner terminated in accordance with this Lease"). If The "Commencement Date" shall be the earlier of (a) thirty (30) days after the date on which Landlord is delayed in delivering tenders possession of all or any portion of the Premises to Tenant as by written notice (after the Existing Tenant has vacated the Premises upon complete execution of a termination agreement with the Existing Tenant pursuant to the provisions of the Commencement Date, Tenant will take possession on next succeeding paragraph); or (b) the date Landlord delivers possessionupon which Tenant, which date will then become with Landlord's written permission, actually occupies and conducts business in any portion of the Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so "Scheduled Commencement Date"); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date. When the Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Commencement Date and Expiration Date in writing. Tenant understands and agrees that the Premises are currently leased by another tenant (the "Existing Tenant"). Landlord agrees to use its good faith efforts to negotiate a termination of lease with the Existing Tenant and to regain possession of the Premises from the Existing Tenant by June 22, 1998, and deliver possession of the Premises to Tenant resulting from on July 15, 1998. Notwithstanding any delay in delivering possession due provision contained herein to the holdover contrary, Landlord shall not be obligated to pay any consideration to the Existing Tenant in order to gain possession of any existing tenant the Premises. After Landlord and Tenant have completely executed this Lease, then upon the later of (a) the complete execution of a lease termination agreement by Landlord and the Existing Tenant, or other circumstances outside (b) June 15, 1998, Tenant shall have access to the Premises for inspection of Landlord’s reasonable control. In the event Premises, subject to the terms of this Lease, including Tenant delivering to Landlord evidence of insurance required under this Lease, except that the Tenant Improvements are shall not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit be permitted to commence the construction of Tenant Improvements in the Premises (prior to the “Delivery Commencement Date”). Notwithstanding the foregoing, subject if Landlord has not delivered possession of the Premises to Tenant Delay or force majeure (in the event of eitherby October 14, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure)1998, Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as and upon any such termination by Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject Landlord promptly shall return to Tenant giving (i) all sums paid by Tenant to Landlord thirty (30) days’ advance written notice of its intention to terminate under this Lease if Substantial Completion shall not occur within such thirty and (30ii) day period, the Letter of Credit issued in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantfavor of Landlord in connection with this Lease.
Appears in 1 contract
Samples: Lease Agreement (Perclose Inc)
TERM; POSSESSION. The Term term of this Lease ("Lease Term") shall be approximately seventy-two (72) months commencing on the eighty-fourth (84th) calendar day after the issuance of a building permit for the Tenant Improvements (the "Target Commencement Date"), subject to the provisions of this Paragraph 2, and of Paragraph 27, and ending on the last day of the seventy-second (72nd) calendar month thereafter, unless sooner terminated or extended as herein provided. Notwithstanding the Target Commencement Date, the Lease Term will commence on 'the Commencement Date tenth (10th) business day after Landlord notifies Tenant that a certificate of occupancy (or equivalent governmental approval of completion) has been issued for the Tenant Improvements (as defined in Paragraph 27) by the appropriate governmental agency, at which time the Premises will be deemed "ready for occupancy." The certificate of occupancy (or equivalent governmental approval of completion) may contain stipulations and shall end on conditions to be fulfilled by Landlord so long as it permits Tenant to take possession of the Expiration Date, unless extended or sooner terminated in accordance with Premises and to use the Premises for the purposes contemplated by this Lease. If Landlord is delayed in delivering Tenant shall take possession of all the Premises no later than thirty (30) business days after Landlord notifies Tenant that a certificate of occupancy (or equivalent governmental approval of completion) has been issued. The Premises shall be considered "ready for occupancy" notwithstanding that punchlist items of a minor nature not interfering with Tenant's intended beneficial use of the Premises exist,, Landlord agrees to complete the punchlist items to Tenant's reasonable satisfaction at Landlord's sole expense within a period of time that is reasonable under the circumstances following the commencement date of the Lease Term. Landlord and Tenant shall execute a written statement specifying (a) the commencement date of the Lease Term and (b) the termination date of the Lease Term prior to Tenant's taking possession of the Premises. If the Premises are not ready for occupancy by the Tenant on the Target Commencement Date for any portion reason other than Tenant's default under this Lease, Landlord shall continue to use due diligence to complete construction and to deliver possession of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay)Tenant. Subject to Notwithstanding any provision in this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due Lease to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In contrary:
(a) If the event that the Tenant Improvements Premises are not Substantially Completed within ready for occupancy by Tenant on or before the one hundred hundredth (100100th) days following calendar day after the date that Landlord receives issuance of a building permit to commence for the Tenant Improvements in the Premises improvements (the “"Adjusted Delivery Date”)") for any reason other than Tenant's default under this Lease, subject to Tenant Delay or force majeure (in the event of eithermajeure, the Delivery Date shall then Tenant's sole and exclusive remedy will be extended by one (1) day for each to receive one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to free rent for each day from the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred Adjusted Delivery Date until the Premises are ready for occupancy; and
(b) If the Premises are not ready for occupancy by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety the fiftieth (19050th) days following day after the date that Landlord receives a building permit for the Tenant Improvements, Adjusted Delivery Date for any reason other than Tenant's default under this Lease or Tenant Delay or force majeureDelay, then Tenant shall have the right to terminate cancel this Lease by written notice to Landlord, as Tenant’s its sole and exclusive remedy with respect by notice given to such delay, except as provided above, subject to Tenant giving Landlord thirty on or before ten (3010) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenantdays thereafter.
Appears in 1 contract
Samples: Lease Agreement (WWW Holdings Inc)
TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date, unless extended or sooner terminated in accordance with this Lease”). If The “Commencement Date” shall be the earlier of (a) the date on which Landlord is delayed in delivering tenders possession of the Premises to Tenant, with all of Landlord’s construction obligations, if any, “Substantially Completed” as provided in the Construction Rider attached as Exhibit B-1 (the “Construction Rider - Landlord Improvements”) or, in the event of any “Tenant Delay,” as defined in the Construction Rider - Landlord Improvements, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant actually occupies and conducts business in any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so “Scheduled Commencement Date”); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any claims, damages or liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date. When the Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Commencement Date and Expiration Date in writing. Subject to the provisions of Exhibit B-1 Construction Rider - Landlord Improvements and Exhibit B-2 Construction Rider - Tenant Improvements, and provided that Tenant has delivered the insurance certificates called for in Section 11.1(e) — Certificates of Insurance, and given Landlord written notice prior to entry, Tenant shall have access to the Premises during normal Business Hours (“Early Access”), prior to the anticipated Commencement Date, commencing two (2) days after mutual execution and delivery of this Lease, for Tenant to perform the Tenant Improvements described in Exhibit B-2 Construction Rider - Tenant Improvements and to install Tenant’s furniture, fixtures and equipment, data information systems, security systems, computer and telephone cabling, computers and related office equipment, but only if during such Early Access, Tenant and Tenant’s employees, contractors and vendor do not interfere with Landlord’s contractor completing the Landlord Improvements. Tenant agrees that Landlord shall not be liable in any way for any injury, loss or damage which may occur to any of Tenant’s property placed upon or installed in the Premises prior to the Commencement Date, the same being at Tenant’s sole risk, and Tenant shall be liable for all injury, loss or damage to persons or property arising as a result of such entry into the Premises by Tenant resulting from any delay in delivering possession due or its Representatives. During such Early Access Tenant shall not be obligated to pay Base Rent or Additional Rent prior to the holdover Commencement Date. Notwithstanding the foregoing, if Tenant takes possession of the Premises before the Commencement Date for any existing tenant or purpose other circumstances outside than as expressly provided in this Section, such possession shall be subject to the terms and conditions of Landlord’s reasonable controlthis Lease and Tenant shall pay Base Rent and Additional Rent, and any other charges payable hereunder to Landlord for each day of possession before the Commencement Date. In the event that the Tenant Improvements are not Substantially Completed If (A) within one hundred two (1002) days following Business Days of the date that Landlord receives of this Lease Tenant selects a building permit to commence the Tenant Improvements in the Premises Building standard paint and carpet which paint and carpet are promptly available (the “Delivery Date”without long lead delay), subject to Tenant Delay or force majeure and (in the event of either, the Delivery Date shall be extended by one (1B) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before the expiration of the date which is one hundred ninety twenty (190120) days following the date that this Lease is fully executed and delivered by each of Landlord receives a building permit for and Tenant and Tenant delivers to Landlord all prepaid rents, the Security Deposit and all certificates of insurance as required by the terms and conditions of this Lease (the “Required Delivery Date”), Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to may terminate this Lease by giving Landlord written notice of termination on or before the earlier to Landlordoccur of: (a) five (5) Business Days after the Required Delivery Date; and (b) Commencement Date. In such event, the Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid rent and Security Deposit previously advanced by Tenant under the Lease and, so long as Tenant’s sole and exclusive remedy Tenant has not previously defaulted under any of its obligations under the Construction Rider, the parties hereto shall have no further responsibilities or obligations to each other with respect to such delay, except as provided above, subject to the Lease. Landlord and Tenant giving Landlord thirty acknowledge and agree that: (30i) days’ advance written notice the determination of its intention to terminate this Lease if Substantial Completion the Commencement Date shall not occur within such thirty take into consideration the effect of any Tenant Delays; and (30ii) day period, in which event all amounts prepaid or deposited by Tenant hereunder the Required Delivery Date shall be promptly returned postponed by the number of days the Commencement Date is delayed due to Tenantstrikes, acts of God, shortages of labor or materials, war, terrorist acts, civil disturbances and other causes beyond the reasonable control of Landlord.
Appears in 1 contract
TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and as described below and, unless sooner terminated, shall end expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date, unless extended or sooner terminated in accordance with this Lease”). If The “Commencement Date” shall be the date on which Landlord is delayed in delivering tenders possession of all or any portion of the Premises to Tenant, with all of Landlord’s construction obligations “Substantially Completed” as provided in the Construction Rider attached as Exhibit B (the “Construction Rider”) or, in the event of any “Tenant Delay,” as of defined in the Commencement DateConstruction Rider, Tenant will take possession on the date on which Landlord delivers possession, which date will then become could have done so had there been no such Tenant Delay. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (and the Expiration Date will be extended so “Scheduled Commencement Date”); provided, however, that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss claims, damages or damage to liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date, except as specifically set forth herein. When the Commencement Date has been established, Landlord and Tenant resulting from any delay shall at the request of either party confirm the Commencement Date and Expiration Date in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable controlwriting. In the event Landlord fails to deliver possession of the Premises to Tenant with the Tenant Improvements Substantially Completed on or before July 1, 2010, subject to force majeure delays (described in Section 26) and Tenant Delays (defined in Exhibit B), then Tenant as its sole and exclusive remedy shall be entitled to an abatement of one day of Base Rent for each day after July 1, 2010 that the Tenant Improvements are have not been Substantially Completed within one hundred (100) days following Completed. Such day-for-day Base Rent abatement shall commence to apply upon the date Commencement Date of the Lease and shall continue until applied in full, provided, however, that it is the intent of the parties that this day-for-day rent abatement be applied consecutively, not concurrently, with any other rent abatement or credit which may be then-applicable. In the event Landlord receives a building permit fails to commence deliver possession of the Premises to Tenant with the Tenant Improvements in the Premises (the “Delivery Date”)Substantially Completed on or before September 1, 2010, subject to Tenant Delay or force majeure delays (described in Section 26) and Tenant Delays (defined in Exhibit B), then Tenant as its sole and exclusive remedy shall have the right to terminate this Lease by providing Landlord with ten (10) days’ prior written notice thereof, but in any event of either, given before Landlord has Substantially Completed the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure)Improvements. Other than as aforesaid, Landlord shall credit have no liability to Tenant against Minimum Annual Rent due under this Lease an amount equal for failure to deliver possession of the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Premises to Tenant following the Delivery Datewith Tenant Improvements Substantially Completed on or before June 1, which Tenant represents to Landlord is equal to $17,031.13 per month2010. Notwithstanding anything in this Lease to the contrary, if this Lease is not fully executed by the Commencement Date has not occurred on or before one hundred ninety parties by March 5, 2010, including without limitation, approval and signature by Landlord, Tenant and Xxxxx Fargo Bank, National Association (190) days following “Xxxxx Fargo”), of the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeureNDESA attached hereto as Exhibit F, then Tenant each of the above described deadlines in this subparagraph shall have be extended one day for each day after March 5, 2010 until the right to terminate this Lease is fully executed by written notice to the parties and the NDESA is fully executed by Landlord, as Tenant’s sole Tenant and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to TenantXxxxx Fargo.
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Samples: Lease Agreement (Mocon Inc)