THE TERM OF THE LEASE. 5.1 The original term of the lease according to this contract shall commence on August 23, 2020 and the date of expiration of the original lease is after the lapse of 36 months on August 22, 2023 (the “Original Term of the Lease”). 5.2 The Tenant is given the option to extend the Original Term of the Lease by two option periods of two years each with regard to the Leased Premises (the “Option Periods”). The Tenant shall give notice of its intention to exercise the Option Periods up to 90 days before the date of commencement of the option period. The rent for the first option period shall increase by 10% over and above the rent in the Original Term of the Lease. The Tenant has a first option to extend the term of the lease by two more years until August 22, 2025 and a second option period to extend the term of the lease by two more years until August 22, 2027. The amount of the rent for the second option period shall be determined in a meeting between the parties up to 90 days before the date of renewal of the option according to the accepted standard of prices at such time. A condition to the exercise of the option shall be that the Tenant shall have fulfilled all of the material terms and conditions of this contract during the Original Term of the Lease in a full and timely manner. 5.3 The provisions of Section 5.2 of this agreement notwithstanding, the Landlord reserves the right to refuse the exercise of the options by the Tenant solely if it is required to remove all of the tenants of the Building for the purpose of demolishing it and constructing a new building in its stead, provided that the same shall not prejudice the first term of the lease and/or on reasonable grounds which shall be specified in writing, and a written notice as aforesaid regarding the need to vacate shall be delivered to the Tenant at least 6 months in advance before the vacation date. 5.4 It is agreed that the Tenant shall bear any and all payments that apply thereto pursuant to this contract for the term of the lease, whether or not it shall have actually held and/or used the Leased Premises, provided that there is no impediment to making reasonable use of the Leased Premises in accordance with the purpose of the lease. 5.5 The parties’ undertaking under this section is a material undertaking whose breach shall constitute a fundamental breach of the contract. [Initials] [Initials]
Appears in 2 contracts
Samples: Lease Contract (Nyxoah SA), Lease Contract (Nyxoah SA)
THE TERM OF THE LEASE. 5.1 4.1 The original lease term of the lease according pursuant to this contract Lease shall commence on August 23October 15, 2020 and 2004 (hereinafter: the date of expiration of the original lease is after the lapse of 36 months on August 22, 2023 (the “Original Term of the Lease”).
5.2 The Tenant is given the option to extend the Original Term of the Lease by two option periods of two years each with regard to the Leased Premises (the “Option Periods”"DELIVERY DATE"). The entry upon the Demised Premises shall be permitted already on October 3, 2004, and from that date onward the Tenant shall give notice bear the costs of Arnona [municipal real estate taxes], electricity, water, maintenance, and the like, other than rental payments.
4.2 The rental term shall terminate at the end of 24 months from its intention commencement, as stated in Section 4.1 above, that is, on October 14, 2006 (the period between October 15, 2004 and October 14, 2006 shall be referred to exercise below as: the Option Periods up "LEASE TERM"). The Landlord hereby gives the Tenant its consent to 90 days before extend this Lease after the date Lease Term, for four (4) additional option terms of commencement one year each, according to the absolute discretion of the option periodTenant. The rent for During the first option period period, should the Tenant elect to exercise it, the same terms as are detailed in this Lease shall increase by 10% over and above apply. Thereafter, should the rent in the Original Term Tenant elect to make use of the Leasesecond option period, the rental payments (as defined in Section 5.1) shall be increased by 5% (the "MONTHLY RENTAL PAYMENTS"). The Tenant has a first option to extend the term of the lease by two more years until August 22, 2025 and a second option period to extend the term of the lease by two more years until August 22, 2027. The amount of the rent Monthly Rental Payments shall be in effect for the second option period shall be determined in a meeting between and for the parties up two periods thereafter, should the Tenant elect to 90 days before exercise them, and the date of renewal balance of the option according to the accepted standard of prices at such timeterms detailed in this Lease shall apply. A condition to the exercise of the option shall be that Despite what is stated above, the Tenant shall have fulfilled be entitled at any time to bring a replacement tenant in its stead, who shall assume all the obligations pursuant to this Lease, provided that the Landlord approves the replacement tenant, as aforesaid. The Landlord shall be allowed to object to the replacement tenant only for reasonable reasons.
4.3 INTERNAL WORK / IMPROVEMENTS / INSTALLATION OF AIR CONDITIONER
4.3.1 The entry of the material terms and conditions of this contract during Tenant onto the Original Term Demised Premises shall be conditioned on the delivery of the Lease securities as detailed in a full and timely mannerSection 14 below.
5.3 4.3.2 The provisions of Section 5.2 of this agreement notwithstandingLandlord hereby gives its consent for internal work within the Demised Premises, the Landlord reserves the right to refuse the exercise of the options by the Tenant solely if it is required to remove all of the tenants of the Building including improvements for the purpose of demolishing making it and constructing a new building in its stead, provided that compatible to the same shall not prejudice the first term needs of the lease and/or on reasonable grounds Tenant. This consent is conditioned upon the delivery of a drawing of the improvements which shall be specified in writingapproved by the Landlord.
4.3.3 The Tenant shall solely be liable for the carrying out of the internal work and it covenants that the works will be carried out according to all laws related to their undertaking, including safety instructions, and a written notice as aforesaid regarding in coordination with the need to vacate management company.
4.3.4 The Tenant shall be delivered responsible for any damage that shall be caused during the course of the internal work or as a result thereof to those carrying out the work, to the Landlord and its employees if they entered upon the Demised Premises in coordination with the Tenant, to third parties, as well as to the Demised Premises, to adjacent units, and to the project.
4.3.5 The Landlord hereby gives its consent to the Tenant at least 6 months to install two mini central air conditioners having a volume of six horse power each, on the service floor of Sh. A. P. House, which will serve to cool the service room in advance before the vacation dateDemised Premises Building.
5.4 It is agreed that the Tenant shall bear any and all payments that apply thereto pursuant to this contract for the term of the lease, whether or not it shall have actually held and/or used the Leased Premises, provided that there is no impediment to making reasonable use of the Leased Premises in accordance with the purpose of the lease.
5.5 The parties’ undertaking under this section is a material undertaking whose breach shall constitute a fundamental breach of the contract. [Initials] [Initials]
Appears in 2 contracts
Samples: Lease Agreement (Predix Pharmaceuticals Holdings Inc), Lease Agreement (EPIX Pharmaceuticals, Inc.)
THE TERM OF THE LEASE. 5.1 The original term 6.1 Subject to what is stated below, the Company hereby undertakes to lease to the Tenant and the Tenant hereby undertakes to lease from the Company, the Leasehold, for the Purpose of the lease according to this contract shall commence on August 23Lease as specified in Section 5 for a period of five (5) years, 2020 and the date of expiration meaning – 60 months, as of the original lease is after Delivery Date and in accordance with the lapse remaining terms of 36 months on August 22, 2023 this Agreement (hereinafter: the “Original "Term of the Lease”").
5.2 The 6.2 At the end of the Term of the Lease, the Tenant is given will be able to extend this Agreement for an additional term of 60 months, commencing on __________ and ending on ____________ [to be completed on the option actual Delivery Date] (hereinafter: the "Extended Lease Term"). Such extension shall be conditioned on the Tenant notify the Company in writing, 90 days prior to the end of the Term of the Lease, of its desire to extend the Original duration of this Agreement, with the precondition that as of the commencement of the Term of the Lease by two option periods and until such date, the Tenant has fulfilled all of two years each with regard its obligations under this Agreement. It is clarified that to the Leased Premises (extent the “Option Periods”)Tenant breached any of its obligations but, after the Company's warning, corrected the breach by the required date, the Tenant will be considered to have fulfilled all of its obligations under this Agreement. The If the Tenant shall did not give notice of its intention intent to exercise extend the Option Periods up to 90 days before the date of commencement Term of the option period. The rent for Lease on the first option period above date, the Company shall increase by 10% over and above be entitled to lease the rent in Leasehold to any third party and/or use it itself, at its discretion.
6.3 All provisions of this Agreement shall also apply to the Original Extended Term of the Lease. , mutatis mutandis, other than the provision of Section 6.2, above, regarding extension of this Agreement and Section 11.1, below, regarding the rent during the Term of the Lease.
6.4 The Tenant has a first option undertakes to extend annually renew said insurance policies and said bank guarantee in accordance with the term of the lease by two more years until August 22, 2025 and a second option period to extend the term of the lease by two more years until August 22, 2027. The amount of the rent for the second option period shall be determined in a meeting between the parties up to 90 days before the date of renewal of the option according to the accepted standard of prices at such time. A condition to the exercise of the option shall be that the Tenant shall have fulfilled all of the material terms and conditions provisions of this contract Agreement, below, such that they will apply during the Original entire Term of the Lease in a full and timely mannerduring the Extended Term of the Lease.
5.3 The 6.5 For the avoidance of doubt, it is hereby expressly clarified that subject to the provisions of Section 5.2 this Agreement, the Tenant is not entitled to terminate its engagement under this Agreement on a date earlier than the end date of the Term of the Lease, for any reason whatsoever, and that the provisions of this agreement notwithstandingAgreement, including but without derogating from the generality of the above, the Landlord reserves the right Tenant's undertaking to refuse the exercise of the options by the Tenant solely if it is required to remove all of the tenants of the Building for the purpose of demolishing it and constructing a new building in its stead, provided that the same shall not prejudice the first term of the lease and/or on reasonable grounds which shall be specified in writing, and a written notice as aforesaid regarding the need to vacate shall be delivered to the Tenant at least 6 months in advance before the vacation date.
5.4 It is agreed that the Tenant shall bear any and make all payments that apply thereto pursuant to it under this contract for the term of the leaseAgreement, shall apply in full, whether or not it shall have actually held and/or used the Leased Premises, provided that there is no impediment to making reasonable Tenant makes actual use of the Leased Premises in accordance with the purpose of the leaseLeasehold or not.
5.5 The parties’ undertaking under this section is a material undertaking whose breach shall constitute a fundamental breach of the contract. [Initials] [Initials]
Appears in 2 contracts
Samples: Lease Agreement (Itamar Medical Ltd.), Lease Agreement (Itamar Medical Ltd.)
THE TERM OF THE LEASE. 5.1 The original term A. Subject to the fulfillment by the Lessee of all its obligations pursuant to this Agreement, the Lessor hereby leases to the Lessee, and the Lessee hereby leases from the Lessor, the Premises under an unprotected Lease for a period of thirty eight and a half months (hereinafter, "the Basic Lease Period") which shall begin on the Transfer Date, until 11/27/2003.
B. Subject to the fulfillment by the Lessee of all its obligations pursuant to this Agreement, the approval of the lease according to this contract Parties, and provision of notification as set forth below, the Lessee shall commence on August 23, 2020 and the date of expiration of the original lease is after the lapse of 36 months on August 22, 2023 (the “Original Term of the Lease”).
5.2 The Tenant is given have the option to extend the Original Term of extending the Lease by Term for two option periods additional consecutive Lease Terms of two years each with regard 24 months each. Each 24-month period as stated above shall be hereinafter called "the Extended Period." The Lessee's notice to the Leased Premises (Lessor regarding the “Option Periods”). The Tenant shall give notice of its intention to exercise the Option Periods up to 90 days before the date of commencement of the option period. The rent for the first option period shall increase by 10% over and above the rent in the Original Term of the Lease. The Tenant has a first option to extend the term of the lease by two more years until August 22, 2025 and a second option period to extend the term of the lease by two more years until August 22, 2027. The amount of the rent for the second option period shall be determined in a meeting between the parties up to 90 days before the date of renewal of the option according to the accepted standard of prices at such time. A condition to the Lessee's exercise of the option for the Extended Period shall be that the Tenant shall have fulfilled all of the material terms made in writing and conditions of this contract during the Original Term of the Lease in a full and timely manner.
5.3 The provisions of Section 5.2 of this agreement notwithstanding, the Landlord reserves the right to refuse the exercise of the options by the Tenant solely if it is required to remove all of the tenants of the Building for the purpose of demolishing it and constructing a new building in its stead, provided that the same shall not prejudice the first term of the lease and/or on reasonable grounds which shall be specified in writing, and a written notice as aforesaid regarding the need to vacate shall be delivered to the Tenant Lessor at least 6 4 months prior to the end of the Basic Lease Period or the previous Extended Period, as the case may be. The Lessee shall attach to the above letter guaranties as specified in advance before Clause 22 below. Lease payments during the vacation date.
5.4 It is agreed that Extended Period shall be updated per Clause 10 B below. Subject to the Tenant above, all the terms of the Lease set forth in this Agreement shall bear any and all payments that also apply thereto pursuant to this contract the Lessee for the term Extended Period. In this Agreement, the Basic Lease Period as well as the Extended Periods shall be called, for the sake of brevity, "the lease, whether or not it shall have actually held and/or used the Leased Premises, provided that there is no impediment to making reasonable use of the Leased Premises in accordance with the purpose of the leaseLease Term.
5.5 The parties’ undertaking under this section is a material undertaking whose breach shall constitute a fundamental breach of the contract. [Initials] [Initials]"
Appears in 1 contract
Samples: Lease Agreement (Optical Access Inc)
THE TERM OF THE LEASE. 5.1 The original term A. Subject to the fulfillment by the Lessee of all its obligations pursuant to this Agreement, the Lessor hereby leases to the Lessee, and the Lessee hereby leases from the Lessor, the Premises under an unprotected Lease for a period of sixty (60) months (hereinafter, "the Basic Lease Period") from the beginning of the lease according transfer.
B. Subject to the fulfillment by the Lessee of all its obligations pursuant to this contract shall commence on August 23Agreement, 2020 and the date of expiration approval of the original lease is after Parties, and provision of notification as set forth below, the lapse of 36 months on August 22, 2023 (the “Original Term of the Lease”).
5.2 The Tenant is given Lessee shall have the option to extend the Original Term of extending the Lease by Period for two option periods additional consecutive Lease Periods of two years each with regard 24 months each. Each 24-month period as stated above shall be hereinafter called "the Extended Period." The Lessee's notice to the Leased Premises (Lessor regarding the “Option Periods”). The Tenant shall give notice of its intention to exercise the Option Periods up to 90 days before the date of commencement of the option period. The rent for the first option period shall increase by 10% over and above the rent in the Original Term of the Lease. The Tenant has a first option to extend the term of the lease by two more years until August 22, 2025 and a second option period to extend the term of the lease by two more years until August 22, 2027. The amount of the rent for the second option period shall be determined in a meeting between the parties up to 90 days before the date of renewal of the option according to the accepted standard of prices at such time. A condition to the Lessee's exercise of the option for the Extended Period shall be that the Tenant shall have fulfilled all of the material terms made in writing and conditions of this contract during the Original Term of the Lease in a full and timely manner.
5.3 The provisions of Section 5.2 of this agreement notwithstanding, the Landlord reserves the right to refuse the exercise of the options by the Tenant solely if it is required to remove all of the tenants of the Building for the purpose of demolishing it and constructing a new building in its stead, provided that the same shall not prejudice the first term of the lease and/or on reasonable grounds which shall be specified in writing, and a written notice as aforesaid regarding the need to vacate shall be delivered to the Tenant Lessor at least 6 4 months prior to the end of the Basic Lease Period or the previous Extended Period, as the case may be. The Lessee shall attach to the above letter guaranties as specified in advance before Clause 22 below. Lease payments during the vacation date.
5.4 It is agreed that Extended Period shall be updated per Clause 10 C below. Subject to the Tenant above, all the terms of the Lease set forth in this Agreement shall bear any and all payments that also apply thereto pursuant to this contract the Lessee for the term Extended Period. In order to avoid ambiguity, it is hereby stated that in any case, the Basic Lease Period and the Extended Terms together shall not exceed 9 years and 11 months altogether. In this Agreement, the Basic Lease Period as well as the Extended Periods shall be called, for the sake of brevity, "the lease, whether or not it shall have actually held and/or used the Leased Premises, provided that there is no impediment to making reasonable use Lease Period."
C. The provisions of the Leased Premises in accordance with the purpose sub-clauses A - B above are principal and fundamental provisions of the leasethis Agreement.
5.5 The parties’ undertaking under this section is a material undertaking whose breach shall constitute a fundamental breach of the contract. [Initials] [Initials]
Appears in 1 contract
Samples: Lease Agreement (Optical Access Inc)
THE TERM OF THE LEASE. 5.1 The original term A. Subject to the fulfillment by the Lessee of all its obligations pursuant to this Agreement, the Lessor hereby leases to the Lessee, and the Lessee hereby leases from the Lessor, the Premises under an unprotected Lease for a period of thirty six (36) months (hereinafter, "the Basic Lease Period") which shall begin on the Transfer Date.
B. Subject to the fulfillment by the Lessee of all its obligations pursuant to this Agreement, the approval of the lease according to this contract Parties, and provision of notification as set forth below, the Lessee shall commence on August 23, 2020 and the date of expiration of the original lease is after the lapse of 36 months on August 22, 2023 (the “Original Term of the Lease”).
5.2 The Tenant is given have the option to extend the Original Term of extending the Lease by Term for two option periods additional consecutive Lease Terms of two years each with regard 24 months each. Each 24-month period as stated above shall be hereinafter called "the Extended Period." The Lessee's notice to the Leased Premises (Lessor regarding the “Option Periods”). The Tenant shall give notice of its intention to exercise the Option Periods up to 90 days before the date of commencement of the option period. The rent for the first option period shall increase by 10% over and above the rent in the Original Term of the Lease. The Tenant has a first option to extend the term of the lease by two more years until August 22, 2025 and a second option period to extend the term of the lease by two more years until August 22, 2027. The amount of the rent for the second option period shall be determined in a meeting between the parties up to 90 days before the date of renewal of the option according to the accepted standard of prices at such time. A condition to the Lessee's exercise of the option for the Extended Period shall be that the Tenant shall have fulfilled all of the material terms made in writing and conditions of this contract during the Original Term of the Lease in a full and timely manner.
5.3 The provisions of Section 5.2 of this agreement notwithstanding, the Landlord reserves the right to refuse the exercise of the options by the Tenant solely if it is required to remove all of the tenants of the Building for the purpose of demolishing it and constructing a new building in its stead, provided that the same shall not prejudice the first term of the lease and/or on reasonable grounds which shall be specified in writing, and a written notice as aforesaid regarding the need to vacate shall be delivered to the Tenant Lessor at least 6 4 months prior to the end of the Basic Lease Period or the previous Extended Period, as the case may be. The Lessee shall attach to the above letter guaranties as specified in advance before Clause 22 below. Lease payments during the vacation date.
5.4 It is agreed that Extended Period shall be updated per Clause 10 B below. Subject to the Tenant above, all the terms of the Lease set forth in this Agreement shall bear any and all payments that also apply thereto pursuant to this contract the Lessee for the term Extended Period. In this Agreement, the Basic Lease Period as well as the Extended Periods shall be called, for the sake of brevity, "the lease, whether or not it shall have actually held and/or used the Leased Premises, provided that there is no impediment to making reasonable use of the Leased Premises in accordance with the purpose of the leaseLease Term.
5.5 The parties’ undertaking under this section is a material undertaking whose breach shall constitute a fundamental breach of the contract. [Initials] [Initials]"
Appears in 1 contract
Samples: Lease Agreement (Optical Access Inc)