Phase 2 Premises means approximately 40,614 rsf located on the 3rd floor of Building 910, and which constitutes the entire 3rd floor of Building 910, as more particularly shown on Exhibit A-2.
Phase 2 Premises defined in the Basic Lease Provisions.
Phase 2 Premises. [as defined in Section 4(b) of the Lease] shall be deemed to include the Expansion Premises. Until the "Phase 2 Commencement Date" [as defined in Section 4(b) of the Lease] has occurred, Base Monthly Rent with respect to the Expansion Premises shall be determined based upon (a) a rate of Twelve and 75/100 Dollars ($12.75) per rentable square feet of area contained within the lower level of the Adjacent Building, and (b) a rate of Twenty-Three and 00/100 Dollars ($23.00) per rentable square foot of area contained within the first and second floors of the Adjacent Building.
Examples of Phase 2 Premises in a sentence
Landlord shall use commercially reasonable efforts to deliver the Phase 2 Premises to Tenant as soon as reasonably possible.
The parties acknowledge that the Phase 2 Premises are currently occupied by another tenant of the Project (the “Existing Tenant”).
In the event that Landlord does not deliver possession of the Phase 2 Premises to Tenant on or before the Phase 2 Outside Delivery Date as defined in Section 1.2 of Exhibit B attached to this Lease (subject to extension for Force Majeure), Landlord shall not be deemed in breach of this Lease.
Notwithstanding the foregoing, (i) the Base Rent for the Phase 1 Premises shall be abated during the Phase 1 Reduced Rent Period as defined in Item 14 of the Basic Lease Provisions, and (ii) the Base Rent for the Phase 2 Premises shall be abated during the Phase 2 Reduced Rent Period as defined in Item 15 of the Basic Lease Provisions.
Landlord anticipates that it will and shall make good faith, commercially reasonable efforts to deliver possession of the Phase 2 Premises to Tenant in the Delivery Condition on the "Phase 2 Delivery Date" as defined in Section 1.2 of Exhibit B attached to this Lease.
More Definitions of Phase 2 Premises
Phase 2 Premises shall consist of a total of ninety-nine thousand three hundred thirty-one (99,331) square feet of Rentable Area on the fourth (4th) floor, fifth (5th) and sixth (6th) floors, and shall be subdivided into (a) the “Phase 2A Premises” consisting of five thousand twenty-eight (5,028) square feet of Rentable Area and (b) the “Phase 2B Premises” consisting of ninety-four thousand three hundred three (94,303) square feet of Rentable Area. The Rent Commencement Date shall be determined separately for each Phase and Base Rent shall be calculated based on the ratio of square footage of the Phase 1 Premises to the entire Premises, and then the square footage of the Phase 1 Premises plus the Phase 2A Premises to the entire Premises, until such time as the “Rent Commencement Date” occurs with respect to the entire Premises (i.e., until such time as the Phase 2B Premises Rent Commencement Date occurs). The parties agree that the “Phase 1 Premises Rent Commencement Date” is January 1, 2013. The “Phase 2A Premises Rent Commencement Date” shall be the earlier of (m) the Date that is the earlier to occur of (i) Substantial Completion of the work described on Exhibit B with respect to the Phase 2A Premises (the “Phase 2A Premises Tenant Improvements”), and (ii) August 1, 2013 and (n) the date on which Tenant (or a subtenant) has occupied any portion of the Phase 2A Premises for the conduct of its business, as opposed to occupying any portion of the Phase 2A Premises for the installation of the Tenant Improvements (as defined below). The “Phase 2B Premises Rent Commencement Date” shall be the earlier of (y) the Date that is the earlier to occur of (i) Substantial Completion of the work described on Exhibit B with respect to the Phase 2B Premises (the “Phase 2B Premises Tenant Improvements” and, together with the Phase 1 Premises Tenant Improvements, and the Phase 2A Premises Tenant Improvements, the “Tenant Improvements”), and (ii) November 1, 2013 and (z) the date on which Tenant has occupied any portion of the Phase 2B Premises for the conduct of its business, as opposed to occupying any portion of the Phase 2B Premises for the installation of the Tenant Improvements. Each of the Phase 1 Premises Rent Commencement Date, the Phase 2A Premises Rent Commencement Date and the Phase 2B Premises Rent Commencement Date shall be subject to extension for Landlord Delay as further described in Section 4 of Exhibit B hereto. Each party shall execute and deliver to the other written ac...
Phase 2 Premises with respect to which Tenant shall commence paying Rent on a floor by floor basis as described below). Tenant's obligation to pay Base Monthly Rent with respect to the Phase 1 Premises shall commence on the earlier to occur of the following dates: (i) the date that Tenant shall have commenced beneficial use for Tenant's business purposes of all or any portion of the Phase 1 Premises; (ii) the date Tenant obtains an occupancy permit for the Phase 1 Premises; or (iii) August 1, 1998. From and after the date of this Lease, Tenant, at its sole cost and expense, shall use diligent and continuous efforts to obtain all permits that are necessary for its occupancy of the Phase 1 Premises and Phase 2 Premises. Tenant's obligation to pay Base Monthly Rent with respect to each floor (or portion thereof) which constitutes a portion of the Phase 2 Premises shall commence on the earlier to occur of the following dates: (i) the date that Tenant shall have commenced beneficial use for Tenant's business purposes of all or more than twenty percent (20%) of the area of such floor within the Phase 2 Premises; (ii) the date that "Tenant's Work" (as defined in Exhibit "C") with respect to any such floor is substantially complete; or (iii) subject to the provisions of Section 4(d) of Exhibit C hereto, December 31, 1998 (the "Outside Date"). Until such time that the "Phase 2 Commencement Date" (as defined below) has occurred, Base Monthly Rent shall be determined in accordance with the foregoing provisions of this Section 4(b) based upon the following rent per square foot for each portion of the Demised Premises: (i) lower level -- south side of the corridor (approximately 15,933 square feet) at the rate of Fifteen and 50/100 Dollars ($15.50) per rentable square foot; (ii) lower level -- north side of the corridor (approximately 5,000 square feet) at the rate of Seven and 00/100 Dollars ($7.00) per rentable square foot; and (iii) floors 1-4 (approximately 93,027 square feet) at the rate of Seventeen and 25/100 Dollars ($17.25) per rentable square foot. Notwithstanding anything in this Lease to the contrary, in no event shall Tenant's obligation to commence paying Base Monthly Rent be extended beyond December 31, 1998. As used herein, (i) "Interim Date" shall mean the date that Tenant has first commenced to pay Base Monthly Rent with respect to any portion of the Phase 2 Premises, and (ii) "Phase 2 Commencement Date" shall mean the date that Tenant is obligated to pay Base Monthly...
Phase 2 Premises shall consist of the balance of the Premises. The Rent Commencement Date shall be determined separately for each Phase and Base Rent shall be prorated based on the ratio of square footage of the Phase 1 Premises to the entire Premises until such time as the “Rent Commencement Date” occurs with respect to the entire Premises (i.e., until such time as the Phase 2 Premises Rent Commencement Date occurs). The “Phase 1 Premises Rent Commencement Date” shall be the earlier of (a) the Date earlier to occur of (i) Substantial Completion of the work described on Exhibit B with respect to the Phase 1 Premises (the “Phase 1 Premises Tenant Improvements”), and (ii) January 1, 2013 and (b) the date on which Tenant has occupied any portion of the Phase 1 Premises for the conduct of its business, as opposed to occupying any portion of the Phase 1 Premises for the installation of the Tenant Improvements (as defined below). The “Phase 2 Premises Rent Commencement Date” shall be the earlier of (y) the Date that is the earlier to occur of (i) Substantial Completion of the work described on Exhibit B with respect to the Phase 2 Premises (the “Phase 2 Premises Tenant Improvements” and, together with the Phase 1 Premises Tenant Improvements, the
Phase 2 Premises shall consist of the Ninth Floor Premises, the Initial Lower Level Premises and the Initial First Floor Premises The “Phase 3 Premises” shall consist of the Subsequent Lower Level Premises, the Subsequent First Floor Premises and Eighth Floor Premises
Phase 2 Premises. Between the Transfer and issuance of a certificate of completion by the City to MTKO for the MTKO new building (“Certificate of Occupancy”), the Premises shall be defined as the area shown on Exhibit “B”.
Phase 2 Premises consists of all of Lxxx 1 as depicted on the attached Exhibit A-5 and the portion of Lxxx 1-B depicted on the attached Exhibit A-6. The attached Exhibit A-7 identifies the sizes of the Project, Buildings, and various premises as of the date of this Lease. The Premises may be expanded or contracted in accordance with this Lease. Additionally, at Tenant’s written election (which must be received by Landlord along with Tenant’s space plans for such space concurrent with Tenant’s other proposed space plans for the Phase 2 TI Work), the portion of the Lxxx 2 Basement Premises planned for Tenant’s machine shop may be relocated to the Project’s parking structure in a location and orientation reasonably acceptable to Landlord and Tenant and approved by all applicable governing authorities under all applicable Laws (the “New Machine Shop Space”), in which case the Phase 2 Premises will be expanded to include the New Machine Shop Space and Landlord will construct such space expeditiously to completion after receipt of the applicable building permit for the New Machine Shop Space (at Landlord’s cost to the extent of $180.00 per Rentable Square Foot of the New Machine Shop Space or such lesser amount necessary to improve the New Machine Shop Space to a warm vanilla shell) and further improvement of the New Machine Shop Space will be subject to the same process and TI Allowance as for the balance of the Phase 2 Premises. If Landlord does not timely complete the work required of it under the preceding sentence, Tenant may do so.
Phase 2 Premises shall have the meaning set forth in the Forever 21 Lease.