Common use of Termination of Existing Leases Clause in Contracts

Termination of Existing Leases. Tenant is currently leasing and in possession of a portion of the Initial Premises pursuant to: (i) that certain Lease Agreement dated as of June 21, 1999 between Landlord and Tenant (formerly known as NetPartners Internet Solutions, Inc., a Delaware corporation), as amended by that certain First Amendment to Lease Agreement dated as of August 2, 1999 between Landlord and Tenant, and that certain Second Amendment to Lease Agreement dated as of October 10, 2001 between Landlord and Tenant (collectively, the "FIRST EXISTING LEASE"); and (ii) that certain Lease Agreement dated as of February 12, 2000 between Landlord and Tenant, as amended by that certain First Amendment to Lease Agreement dated as of June 2, 2000 between Landlord and Tenant, that certain Second Amendment to Lease Agreement dated as of June 27, 2000 between Landlord and Tenant, and that certain Third Amendment to Lease Agreement dated as of January 16, 2001 between Landlord and Tenant (collectively, the "SECOND EXISTING LEASE"; the First Existing Lease and Second Existing Lease are collectively, the "EXISTING LEASES"). Pursuant to the First Existing Lease, Tenant is also leasing certain space in the 10220 Building as more particularly described in the First Existing Lease (the "EXISTING 10220 SPACE"). Landlord and Tenant hereby acknowledge and agree that: (A) the First Existing Lease shall expire in accordance with its terms at the end of August 31, 2002 or such earlier date with respect to the Existing 10220 Space as set forth in this Section 2.2 below; and (B) notwithstanding the Second Existing Lease to the contrary which is scheduled to expire on August 31, 2003, the Second Existing Lease shall terminate early at the end of August 31, 2002, and neither party shall have any further obligations under the Second Existing Lease arising from and after the date of such termination, except those obligations which expressly survive such termination. Notwithstanding such expiration of the First Existing Lease and early termination of the Second Existing Lease, Tenant shall remain in possession of the Initial Premises pursuant to the terms of this Lease, and Landlord shall retain the security deposit currently held by Landlord under the First Existing Lease in the amount of $54,462.00 and the security deposit currently held by Landlord under the Second Existing Lease in the amount of $12,813.00 (collectively, the "EXISTING SECURITY DEPOSIT") as part of the Security Deposit to be provided by Tenant for this Lease as set forth in Article 20 below, and notwithstanding anything in the First Existing Lease or Second Existing Lease to the contrary, Landlord shall not be obligated to return the Existing Security Deposit to Tenant as otherwise provided therein. Notwithstanding the foregoing, in the event of termination of either the First Existing Lease or Second Existing Lease, as applicable, Landlord shall surrender for cancellation any letter of credit serving as security under the First Existing Lease or Second Existing Lease, as applicable. With respect to the Existing 10220 Space, if Landlord and Samsung (or its affiliate or successor) enter into the Samsung Relocation Agreement within the 60-day period set forth in Section 1.4.2 above, the First Existing Lease relating thereto shall terminate as of the date (the "EARLY 10220 SPACE TERMINATION DATE") which is forty-five (45) days after Landlord notifies Tenant that Landlord has entered into the Samsung Relocation Agreement, and Tenant shall surrender exclusive possession of the Existing 10220 Space to Landlord, in the condition required in Section 10.2 of the First Existing Lease, on or before the Early 10220 Space Termination Date and if Tenant fails to do so, Tenant shall be in holdover of the Existing 10220 Space and the holdover provisions of the First Existing Lease shall apply.

Appears in 2 contracts

Samples: Nondisturbance and Attornment Agreement (Websense Inc), Nondisturbance and Attornment Agreement (Websense Inc)

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Termination of Existing Leases. Tenant Reference is currently leasing and in possession of a portion of the Initial Premises pursuant to: (i) that hereby made to certain Lease Agreement dated as of June 21, 1999 between Landlord and Tenant (formerly known as NetPartners Internet Solutions, Inc., a Delaware corporation), as amended by that certain First Amendment to Lease Agreement dated as of August 2, 1999 between Landlord and Tenant, and that certain Second Amendment to Lease Agreement dated as of October 10, 2001 between Landlord and Tenant lease termination agreements (collectively, the "FIRST EXISTING LEASE"“Lease Termination Agreements”); , the forms of which are attached hereto as Exhibit H-1 (the “Xxxxxxx Lease Termination Agreement”), Exhibit H-2 (the “Mediclick Lease Termination Agreement”) and Exhibit H-3 (ii) that certain the “W&W Lease Agreement dated as of February 12Termination Agreement”). The Termination Agreements provided, 2000 between Landlord and Tenant, as amended by that certain First Amendment to Lease Agreement dated as of June 2, 2000 between Landlord and Tenantinter alia, that certain Second Amendment each Existing Tenant shall surrender and vacate its Additional Premises on or prior to Lease Agreement dated June 30, 2011(the “Anticipated Termination Date”). Upon the vacating by each Existing Tenant of its respective portion of the Additional Premises, such portion of the Additional Premises shall be delivered to Tenant in “as of June 27is,” “where is” condition, 2000 between Landlord “with all faults,” on the day following the date on which the applicable Existing Tenant vacates and Tenantsurrenders such premises, and that certain Third Amendment to Lease Agreement dated as such portion of January 16, 2001 between Landlord and Tenant (collectively, the "SECOND EXISTING LEASE"; Additional Premises shall then become part of the First Existing Lease and Second Existing Lease are collectively, the "EXISTING LEASES")Premises demised under this Lease. Pursuant Notwithstanding anything contained herein to the First contrary, if any Existing LeaseTenant fails to vacate its Additional Premises by the Anticipated Termination Date, then Landlord shall use commercially reasonable efforts to dispossess said Existing Tenant is also leasing certain space from the occupied portion or portions of the Additional Premises by way of a summary ejectment proceeding under North Carolina law, including any appeals. The foregoing shall not be deemed to preclude Tenant from pursuing, at its own cost and expense, Tenant’s own independent claims, remedies or actions against any Existing Tenant still in possession of its premises on and after the Anticipated Termination Date, provided that any such pursuit by Tenant does not interfere with any summary ejectment proceeding(s) then being prosecuted by Landlord. Landlord shall be responsible for all costs incurred by Landlord in connection with the summary ejectment proceedings relating to the dispossession of any Existing Tenant from the Additional Premises. In the event Landlord collects any sums from any Existing Tenant attributable to the period from and after July 1, 2011, such sums shall be allocated and disbursed in the 10220 Building as more particularly described following priority until said sums are exhausted: first, to Landlord in an amount equal to all rent (including holdover rent), and other charges, costs and expenses relating to the First lease of such Existing Lease (Tenant for the "EXISTING 10220 SPACE"). Landlord and period beginning July 1, 2011, through September 14, 2011; second, to Tenant hereby acknowledge and agree that: (A) the First Existing Lease shall expire in accordance with its terms at the end of August 31, 2002 or such earlier date an amount equal to $[*] per rentable square foot per annum with respect to the Existing 10220 Space as set forth in this Section 2.2 belowsubject Additional Premises, pro-rated on a daily basis, for the period beginning September 15, 2011, through the date Tenant obtains possession of such Additional Premises; third, any remaining balance to Landlord. The parties expressly acknowledge and (B) notwithstanding the Second Existing Lease to the contrary which is scheduled to expire on August 31, 2003, the Second Existing Lease shall terminate early at the end of August 31, 2002, and neither party agree that Landlord shall have no obligation to pay any further obligations under early termination fees in respect of the Second Existing Lease arising from and after the date of such terminationLeases, except those obligations which expressly survive such termination. Notwithstanding such expiration of the First Existing Lease and early termination of the Second Existing Lease, Tenant shall remain in possession of the Initial Premises pursuant to the terms of this Lease, and Landlord shall retain the security deposit currently held by Landlord under the First Existing Lease in the amount of $54,462.00 and the security deposit currently held by Landlord under the Second Existing Lease in the amount of $12,813.00 (collectively, the "EXISTING SECURITY DEPOSIT") as part of the Security Deposit to be provided by Tenant for this Lease as set forth in Article 20 below, and notwithstanding anything in the First Existing Lease or Second Existing Lease to the contrary, Landlord shall not be obligated to return the Existing Security Deposit to Tenant as otherwise provided therein. Notwithstanding the foregoing, in the event of termination of either the First Existing Lease or Second Existing Lease, as applicable, Landlord shall surrender for cancellation any letter of credit serving as security under the First Existing Lease or Second Existing Lease, as applicable. With respect to the Existing 10220 Space, if Landlord and Samsung (or its affiliate or successor) enter into the Samsung Relocation Agreement within the 60-day period set forth in Section 1.4.2 above, the First Existing Lease relating thereto shall terminate as 3(a) of the date (the "EARLY 10220 SPACE TERMINATION DATE") which is forty-five (45) days after Landlord notifies Tenant that Landlord has entered into the Samsung Relocation Agreement, and Tenant shall surrender exclusive possession of the Existing 10220 Space to Landlord, in the condition required in Section 10.2 of the First Existing Lease, on or before the Early 10220 Space Termination Date and if Tenant fails to do so, Tenant shall be in holdover of the Existing 10220 Space and the holdover provisions of the First Existing Lease shall applyExhibit B attached hereto.

Appears in 1 contract

Samples: Lease and Lease Termination Agreement (Salix Pharmaceuticals LTD)

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Termination of Existing Leases. Tenant is currently leasing and Leases on existing space in possession of a portion Landlord's buildings shall be extended to terminate with occupancy of the Initial Premises pursuant Premises. Occupancy may be staggered over a period not-to: -exceed one hundred eighty (i180) that certain Lease Agreement dated days as of June 21provided herein. Base Rental, 1999 between Landlord and Tenant (formerly known as NetPartners Internet Solutions, Inc., a Delaware corporation), as amended by that certain First Amendment to Lease Agreement dated as of August 2, 1999 between Landlord and TenantMaintenance Expense, and Tax Payments shall be pro-rated so that certain Second Amendment to Lease Agreement dated as of October 10Tenant shall pay for no more than one tenancy throughout the staggered occupancy period. However, 2001 between Landlord Tenant's liability for the entire Premises and obligations for insurance coverage and all utilities for the entire Premises shall begin upon the Commencement Date. Upon Tenant (collectivelyvacating an entire existing building, the "FIRST EXISTING LEASE")Tenant's liability for that building and obligations for Base Rental, Maintenance Expense and Taxes for that building shall cease; simultaneously, Tenant's obligation for Base Rental, Maintenance Expense and (ii) that certain Lease Agreement dated as of February 12, 2000 between Landlord and Tenant, as amended by that certain First Amendment to Lease Agreement dated as of June 2, 2000 between Landlord and Tenant, that certain Second Amendment to Lease Agreement dated as of June 27, 2000 between Landlord and Tenant, and that certain Third Amendment to Lease Agreement dated as of January 16, 2001 between Landlord and Tenant (collectively, the "SECOND EXISTING LEASE"; the First Existing Lease and Second Existing Lease are collectively, the "EXISTING LEASES"). Pursuant to the First Existing Lease, Tenant is also leasing certain space in the 10220 Building as more particularly described in the First Existing Lease (the "EXISTING 10220 SPACE"). Landlord and Tenant hereby acknowledge and agree that: (A) the First Existing Lease shall expire in accordance with its terms at the end of August 31, 2002 or such earlier date with respect to the Existing 10220 Space as set forth in this Section 2.2 below; and (B) notwithstanding the Second Existing Lease to the contrary which is scheduled to expire on August 31, 2003, the Second Existing Lease shall terminate early at the end of August 31, 2002, and neither party shall have any further obligations under the Second Existing Lease arising from and after the date of such termination, except those obligations which expressly survive such termination. Notwithstanding such expiration Taxes for a comparable area of the First Existing Lease Premises, i.e., an equal square footage, shall commence. Upon the sooner of (a) Tenant's vacating all existing buildings leased from Landlord, or (b) one hundred eighty (180) days following the Commencement Date, Tenant's obligation for Base Rental, Maintenance Expense and early termination of Taxes for the Second Existing Lease, Tenant entire Premises shall remain in possession of the Initial Premises pursuant to the terms of this Lease, and Landlord shall retain the security deposit currently held by Landlord under the First Existing Lease in the amount of $54,462.00 and the security deposit currently held by Landlord under the Second Existing Lease in the amount of $12,813.00 (collectively, the "EXISTING SECURITY DEPOSIT") as part of the Security Deposit to be provided by Tenant for this Lease as set forth in Article 20 below, and notwithstanding anything in the First Existing Lease or Second Existing Lease to the contrary, commence. Landlord shall not be obligated to return the Existing Security Deposit look to Tenant for removal and replacement of alterations in these existing spaces, except as otherwise provided thereinfollows. Notwithstanding Tenant will pay the foregoing, in the event of termination of either the First Existing Lease or Second Existing Lease, as applicable, Landlord shall surrender for cancellation any letter of credit serving as security under the First Existing Lease or Second Existing Lease, as applicable. With respect to the Existing 10220 Space, if Landlord and Samsung FIFTY THOUSAND US dollars (or its affiliate or successor$50,000.00) enter into the Samsung Relocation Agreement within the 60-day period set forth in Section 1.4.2 above, the First Existing Lease relating thereto shall terminate as of the date one hundred twenty (the "EARLY 10220 SPACE TERMINATION DATE") which is forty-five (45120) days after Landlord notifies Tenant that has fully vacated 1851 Xxxxxxxx Xxxxxx, xxt only if the Landlord has entered into not obtained a tenant willing to rent the Samsung Relocation Agreement1851 Xxxxxxxx Xxxxxx xxxility with the cleanrooms intact. The foregoing is Tenant's sole liability and Landlord's sole recourse to Tenant for removal and replacement of alterations in the existing spaces, including without limit the demolition and Tenant shall surrender exclusive possession removal of the Existing 10220 Space to Landlord, in the condition required in Section 10.2 of the First Existing Lease, on or before the Early 10220 Space Termination Date and if Tenant fails to do so, Tenant shall be in holdover of the Existing 10220 Space and the holdover provisions of the First Existing Lease shall applycleanrooms at 1851 Xxxxxxxx Xxxxxx.

Appears in 1 contract

Samples: Lease Agreement (Maxtor Corp)

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