Phase II Building definition
Examples of Phase II Building in a sentence
All references in this Lease to the Phase II Building as being leased to Tenant hereunder shall be construed to refer solely to the office and laboratory portion of the Phase II Building and not to the ground-floor retail portion of such building.
The delivery of such Structural Completion Certificate shall commence the running of the 180-day time period (which period shall be extended day for day by any Landlord Delay, as hereinafter defined, occurring after the date of delivery of such Structural Completion Certificate) until the Rent Commencement Date for the applicable Building (or in the case of the Phase II Building, until the Phase IIA Rent Commencement Date) under Section 2.1 of the Lease.
As to any of such phases, Tenant shall have the right to take and occupy a larger portion of the Phase II Building than the minimum space required for the applicable phase, in which event the space for the applicable phase shall be deemed to consist of the greater of the minimum required amount of space for such phase or the amount of space actually occupied by Tenant.
The partnership agreement includes the provisions consistent with the Minimal scope of the partnership agreement drawn up by the Managing Authority and made available to the Lead Partner via the Programme website.
Notwithstanding the foregoing, in no event shall the Minimum Annual Rent during the extension term be less than the Minimum Annual Rent payable during the last year of the original lease term under the applicable lease or more than, on a per rentable square foot basis, the Minimum Annual Rent for the Phase II Building during such period covered by the extension term.
It is the intention of the parties that all such services and utilities shall be separately metered to each Building and, in the case of the Phase II Building, to Tenant’s premises in such Building.
For each rentable square foot of space for which the lease term(s) is(are) extended under said coterminous provision, Tenant shall receive from Landlord at the commencement of the lease term of the Phase II Building a tenant finish allowance equal to One Dollar ($1.00) per rentable square foot for each year of the extended term(s), which allowance shall, at Tenant's discretion, be allocable to any building in Interactive Park.
If Tenant properly exercises its Phase II Building Expansion Option, then within thirty (30) days of Landlord's receipt of such written exercise, Landlord and Tenant shall enter into a written lease for the Phase III Building containing the terms and conditions set forth in this Section 16.17.
Moreover, under no circumstances shall this Section 12.1(b) authorize Tenant to perform any of Landlord’s repairs or maintenance obligations (x) in the Phase II Building, except to the extent the conditions requiring repair or maintenance affect only Tenant’s portion of the Phase II Building and not the retail portion of the Phase II Building, or (y) in the Common Areas of the Property.
The Annual Rental Adjustment for the Phase II Building shall be the same as set forth in this Lease except that Landlord's Share of Operating Expenses shall be Four Dollars ($4.00) per rentable square foot of the Phase II Building, subject to an annual increase of three percent (3%) per year commencing on October 1, 2001 and continuing through the date of occupancy under the lease for the Phase II Building, at which point the amount shall be fixed and no longer subject to increase.