Basement Premises definition

Basement Premises means not less than 5,000 rentable square feet and not more than 6,022 rentable square feet located on the basement level of the Building and shall be located within the area depicted as the “Potential Basement Area” on Exhibit A-1, attached hereto. Subject to the foregoing and the remaining terms hereof, Tenant shall select the size and location of the Basement Premises by notice to Landlord (the “Basement Premises Designation Notice”) on or before March 25, 2019; provided, however, that the Basement Premises shall (a) be in a commercially reasonable configuration, and (b) be subject to Landlord’s approval, which shall not be unreasonably withheld. At Tenant’s option, subject to the terms hereof, the Basement Premises Designation Notice may include an election by Tenant to include a portion of the Basement Premises (as specifically set forth in such notice and subject to Landlord’s reasonable approval) in the Initial Premises (the “Initial Premises Basement Premises”), in which case the Initial Premises Basement Premises shall be included in the Initial Premises and all matters set forth in this Lease based upon the rentable square footage of the Initial Premises and/or Must-Take Premises 1 shall be deemed modified to reflect the increased rentable square footage of the Initial Premises and the reduced rentable square footage of Must-Take Premises 1. Notwithstanding anything contained herein to the contrary, in no event shall the Initial Premises Basement Premises include the hatched area set forth on Exhibit A-1 (the “Nestle Space”). At either Landlord’s or Tenant’s option, the parties shall execute a commercially reasonable amendment to this Lease to reflect Tenant’s election as set forth in the Basement Premises Designation Notice (including Tenant’s lease of any Initial Premises Basement Premises as part of the Initial Premises). The rentable square footage of the Basement Premises, as selected by Tenant pursuant to the terms hereof, including, if applicable, the rentable square footage of the Initial Premises Basement Premises, shall be subject to measurement by Landlord in accordance with the “BOMA Standard,” as that term is defined in Section 1.2 of this Lease.
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Basement Premises has the meaning set forth in this Section 1.01 in the definition‌‌ of “Premises”.
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Basement Premises means the portion of the basement floor of the Building, as set forth on the floor plan attached hereto and made a part hereof as Exhibit "A-8".
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Examples of Basement Premises in a sentence

  • Effective as of the “Additional Basement Premises Commencement Date,” as that term is defined in Section 3.1, below, (i) Tenant shall lease from Landlord, and Landlord shall lease to Tenant, the Additional Basement Premises, and (ii) the Additional Basement Premises shall be included in the “Premises” for purposes of the Lease, as amended hereby.

  • For purposes of Section 1938(a) of the California Civil Code, Landlord hereby discloses to Tenant, and Tenant hereby acknowledges, that the Premises (including the Additional Basement Premises) have not undergone inspection by a Certified Access Specialist (CASp).

  • The Tenant represents that it dealt with no broker in connection with the lease of the Basement Premises or the transaction contemplated hereby.

  • Tenant shall cause its locking systems servicing the Second Additional Basement Premises to be consistent with the “Building Standard Locking Systems,” as that term is defined in Section 1 of Exhibit D of the Original Lease.

  • The term of Tenant’s lease of the Additional Basement Premises shall commence on November 1, 2021 (the “Additional Basement Premises Commencement Date”) and shall continue through and include Lease Expiration Date (which Landlord and Tenant hereby acknowledge agree shall occur on April 30, 2027), unless the Lease, as amended by this Sixth Amendment, is sooner terminated or extended as provided in the Lease, as amended hereby.

  • At any time following the Second Additional Basement Premises Commencement Date, Landlord may deliver to Tenant a commercially reasonable notice (the “Expansion Commencement Confirmation Notice”), which Expansion Commencement Confirmation Notice shall confirm the date of the occurrence of the Second Additional Basement Premises Commencement Date and the corresponding Base Rent schedule for the Second Additional Basement Premises (consistent with the terms of this Seventh Amendment).

  • Accordingly, in the event that Tenant shall elect to include any Initial Premises Basement Premises in the Initial Premises pursuant to the terms of Section 2.2.2 of this Summary, ▇▇▇▇▇▇’s Share for the Initial Premises shall be increased to reflect such additional rentable square footage.

  • Tenant shall be entitled to a one-time improvement allowance in the amount of the “Tenant Improvement Allowance,” as that term is defined, below, for the costs relating to the initial design and construction of the improvements, which are permanently affixed to the applicable Second Additional Basement Premises (the “Tenant Improvements”).

  • Except as otherwise specifically set forth herein below, Landlord shall, at Landlord’s sole cost and expense, and as a requirement of the Delivery Condition applicable to the Ground Floor Premises and the Basement Premises, perform the “Demo Work,” as that term is defined, below, in the Ground Floor Premises and the Basement Premises.

  • Any unused portion of the Tenant Improvement Allowance remaining as of the date (the “Second Additional Basement Premises Allowance Outside Date”) that is twelve (12) months after the Second Additional Basement Premises Commencement Date shall remain with Landlord and Tenant shall have no further right thereto.

Related to Basement Premises

  • Subleased Premises means all that portion of the Leased Premises referred to as airport lot as outlined on the site diagram attached as Schedule "A" to this Sublease; and

  • School premises means either of the following:

  • Basement means any area of the building having its floor subgrade (below ground level) on all sides.

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.