Expansion Premises Rent Commencement Date shall be June 1, 2012. Landlord shall deliver the Expansion Premises to Tenant on the Expansion Premises Commencement Date. Following the Expansion Premises Commencement Date and prior to May 1, 2012, Tenant shall have the right to construct Tenant Improvements (as defined in the Expansion Premises Work Letter attached to this First Amendment as Exhibit B (“EP Work Letter”)) pursuant to the terms of the EP Work Letter in the Initial Lock-In Space (as defined in Section 12 of this First Amendment) and any other portion of the Expansion Premises with respect to which Tenant has waived its EP Termination Right by written notice to Landlord prior to the EP Early Termination Date (collectively with the Initial Lock-In-Space, the “Lock-In Space”). After May 1, 2012, Tenant shall have the right to construct Tenant Improvements pursuant to the terms of the EP Work Letter in any other portion(s), if any, of the Expansion Premises with respect to which Tenant is deemed to have waived the EP Termination Right pursuant to Section 12 of this First Amendment. Except as set forth in the Lease (including without limitation, Section 13 of the Lease), as modified by this First Amendment, and the EP Work Letter: (i) Tenant shall accept the Expansion Premises in their condition as of the Expansion Premises Commencement Date, subject to all applicable Legal Requirements and Landlord’s demising obligations under Section 12 of this First Amendment; (ii) Landlord shall not have any obligation to Tenant for any existing defects in the Expansion Premises as of the Expansion Premises Commencement Date; and (iii) Tenant’s taking possession of the Expansion Premises shall be conclusive evidence that Tenant accepts the Expansion Premises in their condition at the time possession was taken. Without limiting Landlord’s repair obligations under Section 13 of the Lease with respect to the entire Premises, for the period of 30 consecutive days after the Expansion Premises Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems serving the Expansion Premises, if the same were not in good working order as of the Commencement Date. Landlord shall deliver the Expansion Premises to Tenant within the following items completed: (i) replace any broken, stained or missing ceiling tiles, (ii) patch, repair and spot paint any scuffs or holes in the walls, (iii)...
Expansion Premises Rent Commencement Date which shall be defined as the earlier of: (i) delivery of the certificate of occupancy for the Expansion Premises; or (ii) July 1, 2020. Notwithstanding the foregoing, Landlord shall allow limited beneficial occupancy of up to ten (10) Tenant employees in that area of the Expansion Premises as shown on Exhibit D (“Limited Occupancy Space”). Tenant shall ensure that such limited beneficial occupancy falls under an existing certificate of occupancy and complies with any and all occupancy laws and applicable regulations.
Expansion Premises Rent Commencement Date shall be the date that is six (6) months following the Expansion Premises Commencement Date. Tenant shall have no obligation to pay Yearly Rent with respect to the Expansion Premises for the period commencing on the Expansion Premises Commencement Date and expiring as of the day before the Expansion Premises Rent Commencement Date.
Examples of Expansion Premises Rent Commencement Date in a sentence
Tenant shall have the right to verify the measurement of the Expansion Premises set forth in this Third Amendment not later than thirty (30) days after the Expansion Premises Rent Commencement Date.
Expansion Premises Rent Commencement Date; Satisfaction of Tenant’s Option to Lease Second Expansion Space.
Seller shall escrow at Closing the amount of $175,179 (“Whole Foods Rent Credit Escrow”) for one (1) year’s rent due under the Whole Foods Lease from and after the Expansion Premises Rent Commencement Date (as defined in the Whole Foods Lease), which amount shall be held in escrow pursuant to the Holdback Escrow Agreement.
More Definitions of Expansion Premises Rent Commencement Date
Expansion Premises Rent Commencement Date shall be February 1, 2013. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Expansion Premises Commencement Date, the Expansion Premises Rent Commencement Date and the expiration date of the Lease in a form substantially similar to the form of the “Acknowledgement of Commencement Date” attached to the Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. Except as set forth in the Expansion Premises Work Letter and in the Lease: (i) Tenant shall accept the Expansion Premises in their condition as of the Expansion Premises Commencement Date, subject to all applicable Legal Requirements; (ii) Landlord shall have no obligation for any defects in the Expansion Premises; and (iii) Tenant’s taking possession of the Expansion 300 Technology Square/Elan Premises shall be conclusive evidence that Tenant accepts the Expansion Premises and that the Expansion Premises were in good condition at the time possession was taken. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Expansion Premises, and/or the suitability of the Expansion Premises for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Expansion Premises are suitable for the Permitted Use.
Expansion Premises Rent Commencement Date means the date that is sixty (60) days after the Expansion Premises Commencement Date.
Expansion Premises Rent Commencement Date shall be the later to occur of (i) September 1, 2017, or (ii) the Expansion Premises Commencement Date. Upon the request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Expansion Premises Commencement Date, the Expansion Premises Rent Commencement Date and the expiration date of the Lease in substantially the form of the “Acknowledgement of Commencement Date” attached to the Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. For the period of 60 consecutive days after the Expansion Premises Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems serving the Expansion Premises, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost.
Expansion Premises Rent Commencement Date means ninety (90) days after the Expansion Premises Delivery Date, or April 1, 2018: Base Rent: (Based on 20,141 sq. ft.) Period Base Rent Initial Term Rate Per Sq. Ft. Annual Rent Monthly Installment Years 1-5 $26.00 $523,666.00 $43,638.83 First Extension Option: Rate Per Sq. Ft. Annual Rent Monthly Installment Year 6 $26.52 $534,139.32 $44,511.61 Year 7 $27.05 $544,814.05 $45,401.17 Second Extension Option: Rate Per Sq. Ft. Annual Rent Monthly Installment Year 8 $27.59 $555,690.19 $46,307.52 Year 9 $28.14 $566,767.74 $47,230.65
Expansion Premises Rent Commencement Date means the day after the last day of the period of [***] months after the Expansion Premises Commencement Date.
Expansion Premises Rent Commencement Date shall be January 1, 2012. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Expansion Premises Commencement Date and the Expansion Premises Rent Commencement Date in a form substantially similar to the form of the “Acknowledgement of Commencement Date” attached to the Lease as Exhibit G; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. Tenant acknowledges that Landlord may require access to portions of the Expansion Premises after the Expansion Premises Commencement Date in order to complete Landlord’s Work (as defined in the Work Letter attached to this First Amendment as Exhibit B). Landlord and its contractors and agents shall have the right to enter the Expansion Premises to complete Landlord’s Work and Tenant shall cooperate with Landlord in connection with the same. Tenant acknowledges that Landlord’s completion of Landlord’s Work may adversely affect Tenant’s use and occupancy of the Expansion
Expansion Premises Rent Commencement Date shall be the Expansion Premises Commencement Date. Upon the Expansion Premises Commencement Date, Landlord and Tenant shall enter into an Expansion Premises Commencement Date Certificate in the form attached hereto as EXHIBIT B. Landlord estimates that the Expansion Premises Commencement Date shall occur on December 1, 2018 (the “Estimated Delivery Date”). In the event that the Expansion Premises Commencement Date does not occur prior to January 15, 2019, then Tenant shall receive a day-for-day credit of Fixed Rent for each day thereafter until the earlier of (a) the Expansion Premises Commencement Date; and (b) March 15, 2019. In the event that the Expansion Premises Commencement Date does not occur on or before March 15, 2019, then such day-for-day credit of Fixed Rent shall continue from and after March 15, 2019 until the Expansion Premises Commencement Date occurs, except that Tenant shall have the right to terminate this Amendment upon written notice to Landlord, in which case this Amendment shall be null and void and without any force and effect. In the event that Tenant does not deliver the Construction Drawings to Landlord within the time period required in Section 2.4, then the January 15 and March 15 dates in the two immediately foregoing sentences shall each be extended by one (1) day respectively for each day such Construction Drawings are overdue.