TERM; POSSESSION. The term of this Lease (the "Term") for the Existing Premises and the Termination Premises shall commence on November 15, 1998 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 for the First Expansion Premises shall commence ("First Expansion Premises Commencement Date") on the date Landlord delivers possession of the First Expansion Premises to Tenant. The parties anticipate that the First Expansion Premises Commencement Date will occur on or about the Scheduled First Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled First Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the First Expansion Premises are not ready for occupancy by the Scheduled First Expansion Premises Commencement Date. When the First Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the First Expansion Premises Commencement Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall commence ("First Expansion Premises Rent Commencement Date") on the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term of this Lease for the Second Expansion Premises shall commence ("Second Expansion Premises Commencement Date") on the date Landlord delivers possession of the Second Expansion Premises to Tenant. The parties anticipate that the Second Expansion Premises Commencement Date will occur on or about the Scheduled Second Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled Second Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Second Expansion Premises are not ready for occupancy by the Scheduled Second Expansion Premises Commencement Date. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Second Expansion Premises Commencement Date and Expiration Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall commence ("Second Expansion Premises Rent Commencement Date") on the date which is forty-five (45) days after the Second Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not commence until the Second Expansion Premises Rent Commencement Date. The Term of the Lease with respect to the Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of (a) the Termination Premises Termination Date, or (b) the date Tenant actually vacates the Termination Premises. Any entry by Tenant into any portion of the Premises prior to the applicable Commencement Date for such portion of the Premises shall be subject to all of the terms and conditions of this Lease, except that Tenant shall not be obligated to pay Base Rent or Additional Rent for (a) the First Expansion Premises prior to the First Expansion Premises Rent Commencement Date, or (b) the Second Expansion Premises prior to the Second Expansion Premises Rent Commencement Date.
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TERM; POSSESSION. The term of this Lease (the "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 Existing Premises and the Termination Premises shall commence on November 15, 1998 and, unless sooner terminated, shall expire on the Expiration Date set forth in the Basic Lease Information Tenant Improvements (the "Expiration Date"). The Term of this Lease for the First Expansion Premises shall commence ("First Expansion Premises Commencement Date") on the date Landlord delivers possession of the First Expansion Premises to Tenant. The parties anticipate that the First Expansion Premises Commencement Date will occur on or about the Scheduled First Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled First Expansion Premises 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, howeverthe Lease Term will commence on the 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 conditions to be fulfilled by Landlord so long as it permits Tenant to take possession of the Premises and to use the Premises for the purposes contemplated by this Lease. Tenant shall take possession of 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 not be liable for any claims, damages or liabilities if execute a written statement specifying (a) the First Expansion 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 Scheduled First Expansion Premises Commencement Date. When Tenant on the First Expansion Premises Target Commencement Date has been establishedfor any reason other than Tenant's default under this Lease, Landlord shall continue to use due diligence to complete construction and Tenant shall at the request of either party confirm the First Expansion Premises Commencement Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall commence ("First Expansion Premises Rent Commencement Date") on the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term of this Lease for the Second Expansion Premises shall commence ("Second Expansion Premises Commencement Date") on the date Landlord delivers deliver possession of the Second Expansion Premises to Tenant. The parties anticipate that the Second Expansion Premises Commencement Date will occur on or about the Scheduled Second Expansion Premises Commencement Date set forth Notwithstanding any provision in the Basic this Lease Information (the "Scheduled Second Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Second Expansion Premises are not ready for occupancy by the Scheduled Second Expansion Premises Commencement Date. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Second Expansion Premises Commencement Date and Expiration Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall commence ("Second Expansion Premises Rent Commencement Date") on the date which is forty-five (45) days after the Second Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not commence until the Second Expansion Premises Rent Commencement Date. The Term of the Lease with respect to the Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of (a) the Termination Premises Termination Date, or (b) the date Tenant actually vacates the Termination Premises. Any entry by Tenant into any portion of the Premises prior to the applicable Commencement Date for such portion of the Premises shall be subject to all of the terms and conditions of this Lease, except that Tenant shall not be obligated to pay Base Rent or Additional Rent for (a) the First Expansion Premises prior to the First Expansion Premises Rent Commencement Date, or (b) the Second Expansion Premises prior to the Second Expansion Premises Rent Commencement Date.contrary:
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Samples: Lease Agreement (Earthlink Inc)
TERM; POSSESSION. The term of this Lease (the "“Term"”) for the Existing Premises and the Termination Premises shall commence on November 15, 1998 the Commencement Date set forth in the Basic Lease Information (the “Commencement Date”) 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 for the First Expansion Additional Premises shall commence ("First Expansion Premises Commencement Date") on the date Landlord delivers possession of the First Expansion Premises to Tenant. The parties anticipate that the First Expansion Premises Commencement Date will occur on or about the Scheduled First Expansion Additional Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled First Expansion “Additional Premises Commencement Date"); provided”) and, howeverunless sooner terminated, that Landlord shall not be liable for any claims, damages or liabilities if expire on the First Expansion Premises are not ready for occupancy by Expiration Date. From and after the Scheduled First Expansion Premises Commencement Date. When the First Expansion Premises Commencement Date has been established, Landlord and Tenant shall at comply with all the request terms and provisions of either party confirm this Lease, except for the First Expansion Premises Commencement Date in writing. Tenant's obligation to pay Base Rent prior to the date 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 Additional Rent 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 First Expansion Initial Premises shall commence ("First Expansion Premises Rent Commencement Date") on and the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term of this Lease for the Second Expansion Premises shall commence ("Second Expansion Premises Commencement Date") on the date Landlord delivers possession of the Second Expansion Premises to Tenant. The parties anticipate that the Second Expansion Premises Commencement Date will occur for the Additional Premises, and the Expiration Date, which document shall be deemed conclusive unless Tenant shall notify Landlord of any disagreement therewith within ten (10) days of receipt. Tenant shall make commercially reasonably, good-faith efforts to obtain all governmental approvals (“Government Use Approval”) required for Tenant to conduct its intended medical uses in the Premises from all governmental entities with jurisdiction, by the 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, Tenant shall retain a permit consultant to xxxxx the necessary applications through the approval process, Tenant shall provide Landlord with a copy of all applications submitted by Tenant, and, if necessary to obtain the required Government Use Approval prior to the estimated delivery date for the Initial Premises, Tenant shall pay the premiums established by the applicable governmental entities that allow approval of permit applications on an expedited basis. Tenant shall provide Landlord with a copy of the approved permit immediately upon receipt from the applicable governmental entity. If on or about before June 1, 2006 (“Tenant’s Use Approval Deadline “) Tenant does not give Landlord written notice that Tenant has obtained the Scheduled Second Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled Second Expansion Premises Commencement Date"); providedGovernment Use Approval, however, that then Landlord shall not be liable for any claims, damages or liabilities if have the Second Expansion Premises are not ready for occupancy right to terminate this Lease by the Scheduled Second Expansion Premises Commencement Datewritten notice to Tenant given within ten (10) Business Days following Tenant’s Use Approval Deadline. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of If either party confirm the Second Expansion Premises Commencement Date and Expiration Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall commence ("Second Expansion Premises Rent Commencement Date") on the date which is forty-five (45) days after the Second Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not commence until the Second Expansion Premises Rent Commencement Date. The Term of the Lease with respect to the Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of (a) Landlord terminates this Lease because Tenant has not obtained the Termination Premises Termination DateGovernment 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 date Initial Premises and the Additional Premises to Tenant actually vacates by the Termination Premises. Any entry Deadline, then promptly after either such termination Landlord shall return to Tenant all sums paid by Tenant into any portion to Landlord, 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 prior and the Additional Premises to Tenant by the Termination Deadline, then in Landlord shall pay one half (1/2) of Tenant’s out of pocket fees and charges that Tenant has paid to the applicable Commencement Date Space Planner (as defined in Exhibit B attached to this Lease) within thirty (30) days after Tenant delivers to Landlord copies of the invoices from the Space Planner for such portion of fees and charges, showing in detail the Premises shall be subject to all of dates and the terms explanation associated therewith for such fees and conditions of this Lease, except that Tenant shall not be obligated to pay Base Rent or Additional Rent for (a) the First Expansion Premises prior to the First Expansion Premises Rent Commencement Date, or (b) the Second Expansion Premises prior to the Second Expansion Premises Rent Commencement Datecharges.
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TERM; POSSESSION. The term of this Lease (the "“Term"“) for the Existing Premises and the Termination Premises shall commence on November 15, 1998 the 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 for the First Expansion Premises shall commence ("First Expansion Premises “Commencement Date"“ shall be the earlier of (i) on the later of (a) the date that is one hundred eighty (180) days after the date on which Landlord delivers has Substantially Completed the Landlord’s Work, or in 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 tenders possession of the First Expansion 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. The parties anticipate that the First Expansion Premises Commencement Date will occur on or about the Scheduled First Expansion Premises Estimated Commencement Date set forth in the Basic Lease Information (the "Scheduled First Expansion Premises “Estimated Commencement Date"“); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the First Expansion Premises are not ready for occupancy by the Scheduled First Expansion Premises Estimated Commencement Date. When the First Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the First Expansion Premises Commencement Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall commence ("First Expansion Premises Rent Commencement Date") on the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term of this Lease for the Second Expansion Premises shall commence ("Second Expansion Premises Commencement Date") on the date Landlord delivers possession of the Second Expansion Premises to Tenant. The parties anticipate that the Second Expansion Premises Commencement Date will occur on or about the Scheduled Second Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled Second Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Second Expansion Premises are not ready for occupancy by the Scheduled Second Expansion Premises Commencement Date. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Second Expansion Premises Commencement Date and Expiration Date in writing. Tenant's obligation Subject to pay Base Rent the provisions of Exhibit B – Construction Rider and Additional Rent this Section 2, as of the date that is one (1) 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 written notice prior to entry, Tenant shall have access to the Premises (“Early Access“) for the Second Expansion Premises shall commence ("Second Expansion Premises Rent Commencement Date") on purpose of planning and performing the date which 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 forty-five (45) days after 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 Second Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not commence until the Second Expansion Premises Rent Commencement Date. The Term completion of the Lease with respect to Landlord Work at the Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of (a) the Termination Premises Termination Date, or (b) the date Tenant actually vacates the Termination Premisesearliest possible date. Any entry by Tenant into any portion of the Premises prior to the applicable Commencement Date for During such portion of the Premises shall be subject to all of the terms and conditions of this Lease, except that Early Access Tenant shall not be obligated to pay Base Rent or Additional Rent Tenant’s Share of Operating Costs or Taxes; provided, however, that Tenant shall be liable for the costs and expenses for any special or excess services or utilities requested by or on behalf of Tenant 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 (a50%) or more of the First Expansion Premises prior for the operation of Tenant’s business therein, such possession shall be subject to the First Expansion Premises terms and conditions of this Lease and Tenant shall pay Base Rent, Tenant’s Share of Operating Costs and Taxes, and all other Rent Commencement Date, or (b) and other charges payable hereunder to Landlord for each day of possession before the Second Expansion Premises prior to the Second Expansion Premises Rent Commencement Date.
Appears in 1 contract
Samples: Lease Agreement (FireEye, Inc.)
TERM; POSSESSION. The term of this Lease (with respect to the "Term") for the Existing Premises and the Termination Initial Premises shall commence on November 15, 1998 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 DateEXPIRATION DATE"). The Term term of this Lease for with respect to the First Expansion Additional Premises shall commence ("First Expansion Premises Commencement Date") on the date ("ADDITIONAL PREMISES COMMENCEMENT DATE") Landlord delivers possession of the First Expansion Additional Premises to TenantTenant after Landlord has obtained possession of the Additional Premises from the Existing Tenant pursuant to the provisions contained hereinbelow. The parties anticipate that the First Expansion Initial Premises Commencement Date and the Additional Premises Commencement Date will occur on or about the Initial Premises Scheduled First Expansion Premises Commencement Date set forth in the Basic Lease Information (the "INITIAL PREMISES SCHEDULED COMMENCEMENT DATE") and the Additional Premises Scheduled First Expansion Premises Commencement DateDate get forth in the Basic Lease Information (the "ADDITIONAL PREMISES SCHEDULED COMMENCEMENT DATE"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the First Expansion Initial Premises and Additional Premises are not ready for occupancy by the their respective Scheduled First Expansion Premises Commencement DateDates. When the First Expansion Premises Initial Commencement Date has and Additional Commencement Date have been established, Landlord and Tenant shall at the request of either party confirm the First Expansion Premises respective Commencement Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall commence ("First Expansion Premises Rent Commencement Date") on the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term of this Lease for the Second Expansion Premises shall commence ("Second Expansion Premises Commencement Date") on the date Landlord delivers possession of the Second Expansion Premises to Tenant. The parties anticipate that the Second Expansion Premises Commencement Date will occur on or about the Scheduled Second Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled Second Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Second Expansion Premises are not ready for occupancy by the Scheduled Second Expansion Premises Commencement Date. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Second Expansion Premises Commencement Date Dates and Expiration Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall commence TENANT UNDERSTANDS AND AGREES THAT THE PREMISES ARE CURRENTLY LEASED BY ANOTHER TENANT (THE "Second Expansion Premises Rent Commencement DateEXISTING TENANT") on the date which is forty-five (45) days after the Second Expansion Premises Commencement Date). Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not commence until the Second Expansion Premises Rent Commencement DateLANDLORD AGREES TO USE ITS GOOD FAITH EFFORTS TO NEGOTIATE A TERMINATION OF LEASE WITH THE EXISTING TENANT BY AUGUST 15, 1998, 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. The Term of the Lease with respect to the Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of (a) the Termination Premises Termination Date, or (b) the date Tenant actually vacates the Termination Premises. Any entry by Tenant into any portion of the Premises prior to the applicable Commencement Date for such portion of the Premises shall be subject to all of the terms and conditions of this Lease, except that Tenant shall not be obligated to pay Base Rent or Additional Rent for (a) the First Expansion Premises prior to the First Expansion Premises Rent Commencement Date, or (b) the Second Expansion Premises prior to the Second Expansion Premises Rent Commencement Date.NOTWITHSTANDING ANY PROVISION
Appears in 1 contract
TERM; POSSESSION. The term of this Lease (the "TermTERM") for the Existing Premises and the Termination Premises shall commence on November 15, 1998 the 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 for the First Expansion Premises shall commence ("First Expansion Premises Commencement Date") on the date " shall be 14 days after Landlord delivers possession written notice to Tenant that the prior tenant has vacated the Premises. Landlord shall notify Tenant in writing of the First Expansion Premises to Tenant. The parties anticipate that the First Expansion Premises projected Commencement Date will occur on or about of the Scheduled First Expansion Premises Lease within 5 days of determining said date. Landlord shall also notify Tenant in writing within 5 days if the said projected Commencement Date set forth in the Basic Lease Information (the "Scheduled First Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the First Expansion Premises are not ready for occupancy by the Scheduled First Expansion Premises Commencement Dateis changed. When the First Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the First Expansion Premises Commencement Date and Expiration Date in writing. 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 Additional Rent for perform the First Expansion Premises shall commence ("First Expansion Premises Rent Commencement Date") on the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term other obligations of Tenant under this Lease for the Second Expansion Premises shall may commence ("Second Expansion Premises Commencement Date") on before the date Landlord delivers has tendered possession of the Second Expansion Premises to TenantTenant 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 the 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 delivering possession of 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 parties anticipate that the Second Expansion Premises Commencement Date will occur on or about shall be delayed to the Scheduled Second Expansion extent that Landlord fails to deliver possession of the Premises for any reason including but not limited to, holding over by prior occupants. Any such delay in the Commencement Date set forth in shall not subject Landlord to any liability for any loss or damage resulting therefrom. If the Basic Commencement Date is delayed, the Termination Date under the Lease Information (the "Scheduled Second Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable similarly extended. Notwithstanding anything herein to the contrary, if the Tenant Improvements in the Premises are incomplete on the Commencement Date for any claimsreason whatsoever (other than as a result of holding over by prior occupants, damages or liabilities if in which event the Second Expansion Premises are not ready for occupancy by the Scheduled Second Expansion Premises Commencement Date. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant above paragraph shall at the request of either party confirm the Second Expansion Premises Commencement Date and Expiration Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall commence ("Second Expansion Premises Rent Commencement Date") on the date which is forty-five (45) days after the Second Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not commence until the Second Expansion Premises Rent Commencement Date. The Term of the Lease control with respect to the Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of (a) the Termination Premises Termination Date, or (b) the date Tenant actually vacates the Termination Premises. Any entry by Tenant into any portion of period that Landlord is delayed in delivering the Premises prior to as a consequence of such holdover), the applicable Commencement Date for such portion of the Premises shall be subject to all of the terms and conditions of this Lease, except that Tenant shall not be obligated postponed or delayed. Instead, Tenant acknowledges that the Tenant Improvements will be performed in the Premises during Business Hours subsequent to pay the 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 business as is reasonably possible. Notwithstanding anything herein to the contrary, 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 Additional Rent for (a) other sums payable under the First Expansion Premises prior Lease. Landlord shall proceed with due diligence to Substantially Complete the First Expansion Premises Rent Commencement Date, or (b) Tenant Improvements within a reasonable amount of time following the Second Expansion Premises prior to the Second Expansion Premises Rent Commencement Date.
Appears in 1 contract
TERM; POSSESSION. 2.1 The term of this Lease (the "“Term"”) for the Existing Premises and the Termination Premises shall commence on November 15, 1998 the Commencement Date as described below and, unless sooner terminated, shall expire on the Expiration Date set forth in the Basic Lease Information (the "The “Expiration Date"”). The Term of this Lease for the First Expansion Premises shall commence ("First Expansion Premises “Commencement Date"” shall be the Rent Commencement Date (as that term is defined below) on with respect to the date Landlord delivers possession last floor of the First Expansion Premises delivered by Landlord to Tenant. The parties anticipate that the First Expansion Premises Commencement Date will occur on or about the Scheduled First Expansion Premises Commencement Date set forth in the Basic Lease Information February 8, 2003 (the "“Scheduled First Expansion Premises Commencement Date"”); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the First Expansion Premises are not ready for occupancy by the Scheduled First Expansion Premises Commencement Date. When If the First Expansion Premises Commencement Date has been establishedare not delivered by the Landlord to Tenant, with all of Landlord’s Work substantially complete by May 8, 2003 (“Outside Substantial Completion Date”), subject to the force majeure (not to exceed 180 days) or any Tenant Delay (as that term is hereinafter defined). Tenant shall have the right to terminate this Lease giving Landlord written notice at any time after the Substantial Completion Deadline and prior to substantial completion of Landlord’s Work, in which case this Lease will be terminated. Landlord and Tenant shall at the request of either party confirm the First Expansion Premises Commencement Date in writing. Tenant's obligation to pay Base Rent acknowledge and Additional Rent for the First Expansion Premises shall commence ("First Expansion Premises Rent Commencement Date") on the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term of this Lease for the Second Expansion Premises shall commence ("Second Expansion Premises Commencement Date") on the date Landlord delivers possession of the Second Expansion Premises to Tenant. The parties anticipate that the Second Expansion Premises Commencement Date will occur on or about the Scheduled Second Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled Second Expansion Premises Commencement Date"); provided, however, agree that Landlord shall not be liable for any claims, damages or liabilities if deliver to Tenant the Second Expansion Premises are not ready for occupancy in increments of two (2) floors every 30-45 days in the condition required by the Scheduled Second Expansion Premises Commencement DateExhibit F attached hereto. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Second Expansion Premises Commencement Date and Expiration Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall commence ("Second Expansion Premises Rent Commencement Date") on the date which is forty-five (45) days after the Second Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not commence until the Second Expansion Premises Rent Commencement Date. The Term of the Lease with respect Notwithstanding anything to the Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999contrary contained herein, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of (a) the Termination Premises Termination Date, or (b) the date Tenant actually vacates the Termination Premises. Any entry by Tenant into any portion of the Premises prior to the applicable Commencement Date for such portion of the Premises shall be subject to all of the terms and conditions of this Lease, except that 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 not be obligated to pay Base Rent or Additional Rent for the earlier of (a) one hundred twenty (120) days after the First Expansion date on which Landlord tenders possession of such floor of the Premises prior to Tenant with Landlord’s Work therein Substantially Complete or the First Expansion Premises Rent Commencement Datedate such floor would have been Substantially Complete but for Tenant Delays, or (b) the Second Expansion date upon which Tenant, with Landlord’s written permission, actually occupies and 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 prior commencing on the Rent Commencement Date with respect to such floor(s) of the Premises. Landlord and Tenant acknowledge and agree that certain rent and other obligations may commence earlier than the Commencement Date, 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, with respect to the Second Expansion Premises Building. Promptly after the Rent Commencement Date.Date with respect to each floor is ascertained, Landlord and Tenant 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 and Tenant shall confirm such Commencement Date in writing in the form of the Commencement Date Agreement attached hereto as Exhibit C. “
Appears in 1 contract
Samples: Lease Agreement (Enernoc Inc)
TERM; POSSESSION. The term of this Lease (the "Term") for shall be approximately one hundred twenty (120) months commencing on or about February 21, 2000 (the Existing Premises "Target Commencement Date"), subject to the provisions of Paragraphs 2 and 27, and ending on the Termination Premises shall commence on November 15, 1998 andlast day of the one hundred twentieth (120th) calendar month thereafter, unless sooner terminatedterminated or extended as herein provided. Notwithstanding the Target Commencement Date, shall expire the Term will commence on the Expiration Date set forth third business day ("Substantial Completion") after issuance of both (a) a ---- temporary certificate of occupancy for Landlord's Work, and (b) the Project Architect's certification that Landlord's Work has been completed substantially in accordance with the Basic Lease Information 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 ("Expiration DateLandlord'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 Term temporary certificate of this Lease 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 First Expansion Premises purposes contemplated by this Lease, which initially shall commence ("First Expansion Premises Commencement Date") on mean commencement of Tenant's Work, without material interference with Tenant's use and enjoyment of the date Landlord delivers Premises. Tenant shall take possession of the First Expansion 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 shall continue to use due diligence to complete construction and to deliver possession of the Premises to Tenant. The parties anticipate that the First Expansion Premises Commencement Date will occur on or about the Scheduled First Expansion Premises Commencement Date set forth Notwithstanding any provision in the Basic Lease Information (the "Scheduled First Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the First Expansion Premises are not ready for occupancy by the Scheduled First Expansion Premises Commencement Date. When the First Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the First Expansion Premises Commencement Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall commence ("First Expansion Premises Rent Commencement Date") on the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term of this Lease for the Second Expansion Premises shall commence ("Second Expansion Premises Commencement Date") on the date Landlord delivers possession of the Second Expansion Premises to Tenant. The parties anticipate that the Second Expansion Premises Commencement Date will occur on or about the Scheduled Second Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled Second Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Second Expansion Premises are not ready for occupancy by the Scheduled Second Expansion Premises Commencement Date. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Second Expansion Premises Commencement Date and Expiration Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall commence ("Second Expansion Premises Rent Commencement Date") on the date which is forty-five (45) days after the Second Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not commence until the Second Expansion Premises Rent Commencement Date. The Term of the Lease with respect to the Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of (a) the Termination Premises Termination Date, or (b) the date Tenant actually vacates the Termination Premises. Any entry by Tenant into any portion of the Premises prior to the applicable Commencement Date for such portion of the Premises shall be subject to all of the terms and conditions of this Lease, except that Tenant shall not be obligated to pay Base Rent or Additional Rent for (a) the First Expansion Premises prior to the First Expansion Premises Rent Commencement Date, or (b) the Second Expansion Premises prior to the Second Expansion Premises Rent Commencement Date.contrary:
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
TERM; POSSESSION. The term of this Lease (the "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 Existing Premises and the Termination Premises shall commence on November 15, 1998 and, unless sooner terminated, shall expire on the Expiration Date set forth in the Basic Lease Information Tenant Improvements (the "Expiration Date"). The Term of this Lease for the First Expansion Premises shall commence ("First Expansion Premises Commencement Date") on the date Landlord delivers possession of the First Expansion Premises to Tenant. The parties anticipate that the First Expansion Premises Commencement Date will occur on or about the Scheduled First Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled First Expansion Premises 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, howeverthe Lease Term will commence on 'the 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 conditions to be fulfilled by Landlord so long as it permits Tenant to take possession of the Premises and to use the Premises for the purposes contemplated by this Lease. Tenant shall take possession of 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 not be liable for any claims, damages or liabilities if execute a written statement specifying (a) the First Expansion 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 Scheduled First Expansion Premises Commencement Date. When Tenant on the First Expansion Premises Target Commencement Date has been establishedfor any reason other than Tenant's default under this Lease, Landlord shall continue to use due diligence to complete construction and Tenant shall at the request of either party confirm the First Expansion Premises Commencement Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall commence ("First Expansion Premises Rent Commencement Date") on the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term of this Lease for the Second Expansion Premises shall commence ("Second Expansion Premises Commencement Date") on the date Landlord delivers deliver possession of the Second Expansion Premises to Tenant. The parties anticipate that the Second Expansion Premises Commencement Date will occur on or about the Scheduled Second Expansion Premises Commencement Date set forth Notwithstanding any provision in the Basic this Lease Information (the "Scheduled Second Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Second Expansion Premises are not ready for occupancy by the Scheduled Second Expansion Premises Commencement Date. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Second Expansion Premises Commencement Date and Expiration Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall commence ("Second Expansion Premises Rent Commencement Date") on the date which is forty-five (45) days after the Second Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not commence until the Second Expansion Premises Rent Commencement Date. The Term of the Lease with respect to the Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of (a) the Termination Premises Termination Date, or (b) the date Tenant actually vacates the Termination Premises. Any entry by Tenant into any portion of the Premises prior to the applicable Commencement Date for such portion of the Premises shall be subject to all of the terms and conditions of this Lease, except that Tenant shall not be obligated to pay Base Rent or Additional Rent for (a) the First Expansion Premises prior to the First Expansion Premises Rent Commencement Date, or (b) the Second Expansion Premises prior to the Second Expansion Premises Rent Commencement Date.contrary:
Appears in 1 contract
Samples: Lease Agreement (WWW Holdings Inc)
TERM; POSSESSION. The term of this Lease (the "Term"a) for the Existing Premises and the Termination Premises shall commence on November 15, 1998 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 for the First Expansion Premises shall commence ("First Expansion Premises Commencement Date") on the date Landlord delivers possession of the First Expansion Premises to Tenant. The parties anticipate that the First Expansion Premises Commencement Date will occur and shall end on or about the Scheduled First Expansion Premises Commencement Date Expiration Date, unless sooner terminated in accordance with this Lease. Except as expressly set forth in the Basic Lease Information (the "Scheduled First Expansion Premises Commencement Date"); providedherein, however, that Landlord shall not be liable for any claims, damages loss or liabilities if the First Expansion Premises are not ready for occupancy by the Scheduled First Expansion Premises Commencement Date. When the First Expansion Premises Commencement Date has been established, Landlord and damage to Tenant shall at the request of either party confirm the First Expansion Premises Commencement Date resulting from any delay in writing. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall commence ("First Expansion Premises Rent Commencement Date") on the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term of this Lease for the Second Expansion Premises shall commence ("Second Expansion Premises Commencement Date") on the date Landlord delivers delivering possession of the Second Expansion Premises and/or the Tenant Improvements due to Tenant. The parties anticipate that any circumstances outside of Landlord's reasonable control, including, but not limited to (but only to the Second Expansion Premises Commencement Date will occur on extent actually outside of Landlord's reasonable control), severe events of nature (including severe weather and flooding), labor disputes, industrial disputes or about the Scheduled Second Expansion Premises Commencement Date set forth in the Basic Lease Information disturbances, civil disturbances, interruptions by government or court order, valid orders of any regulatory body having proper jurisdiction, wars, riots, inability to secure materials (the 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 ("Scheduled Second Expansion Premises Commencement DateForce Majeure"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Second Expansion Premises are not ready for occupancy by the Scheduled Second Expansion Premises Commencement Date. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Second Expansion Premises Commencement Date and Expiration Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall commence ("Second Expansion Premises Rent Commencement Date") on the date which is forty-five (45) days after the Second Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not commence until the Second Expansion Premises Rent Commencement Date. The Term of the Lease with respect to the Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of (a) the Termination Premises Termination Date, or (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 date Tenant actually vacates Improvements Substantially Completed on or before October 31, 2010, then Landlord shall reimburse Tenant for (A) the Termination Premises. Any entry by Tenant into any portion sum of the Premises prior actual holdover base rent and additional rent imposed by Existing Landlord pursuant to the applicable Commencement Date for such portion of the Premises shall be subject to all of 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, except on a day-for-day basis, as such is set forth in (i), (ii) or (iii) below (the result of these equations shall be referred to 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 whole or in part) to any Tenant Delay or 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 whole or in part) to any Tenant Delay or 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 Minimum Annual Rent and Annual Operating Expenses under this 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 extent attributable solely to delay caused by Force Majeure and/or Landlord in delivering the Tenant Improvements Substantially Completed by February 28, 2011 and not to the extent attributable (in whole or in part) to any Tenant Delay. 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 Minimum Annual Rent and Annual Operating Expenses under this Lease. (c) Within thirty (30) days of Tenant providing Landlord documentation of the proper Holdover Expenses reasonably acceptable to Landlord, Landlord shall reimburse Tenant such Holdover Expenses. Tenant agrees, upon Landlord's request, to use good faith efforts to negotiate with the Existing Landlord such extensions or amendments to the Existing Lease as may be necessary to avoid or reduce the Holdover Expenses. (d) (i) If the Tenant Improvements are not Substantially Completed on or before August 31, 2011, time being of the essence, as a result of Force Majeure or Landlord's delay (or a combination of Force Majeure and Landlord's delay) in delivering such Tenant Improvements Substantially Completed, and not attributable (in whole or in part) to Tenant Delay, Tenant or Landlord shall have the right to terminate this Lease on thirty (30) days' prior written notice to the other party. In the event that Tenant exercises its rights hereunder, such termination shall be void if the Tenant Improvements are Substantially Completed by Landlord within such thirty (30)-day period. (ii) In the event that the Tenant Improvements are not be obligated Substantially Completed on or before August 31, 2011, time being of the essence, as a result of Tenant Delay (in whole or in part), and not as a result of Landlord delay or Force Majeure (or a combination of Landlord delay and Force Majeure), then Landlord shall have the right to pay Base Rent terminate this Lease upon written notice thereof to Tenant. (iii) In the event that the Tenant Improvements are not Substantially Completed on or Additional Rent before August 31, 2011, time being of the essence, as a result of a combination of (A) Force Majeure or Landlord's delay in delivering such Tenant Improvements Substantially Completed, and (B) Tenant Delay, then Landlord shall on such date elect to either terminate this Lease upon written notice thereof to Tenant or extend the August 31, 2011 date for (a) the First Expansion Premises prior up to the First Expansion Premises Rent number of days attributable to Tenant Delay and, if the Tenant Improvements are not Substantially Completed by such extended date, Landlord may elect to terminate this Lease upon written notice thereof to Tenant on such extended date. In the event that Landlord elects, in its sole discretion, to extend such termination date for up to the number of days of Tenant Delay, Tenant may also elect to terminate this Lease on thirty (30) days prior written notice to Landlord on such extended date. In the event that there is further Tenant Delay after August 31, 2011, then Tenant's right to terminate shall be further extended, from time to time, for the number of days of Tenant Delay and Landlord may also extend its termination date, from time to time, for the additional number of days of Tenant Delay. If Tenant elects to terminate the Lease as provided in the previous sentences, such termination shall be void if the Tenant Improvements are Substantially Completed by Landlord within the thirty (30)-day notice period provided above. (e) Following the determination of the Commencement Date, or (b) the Second Expansion Premises prior parties shall execute a commencement date memorandum memorializing the Commencement Date, Free Rent Period, Expiration Date, and Tenant's acceptance of the Premises, subject to the Second Expansion Premises Rent Commencement Dateprovisions of Section 2(e). 5.
Appears in 1 contract
Samples: Lease Agreement (Intest Corp)