Basement Premises Clause Samples

The 'Basement Premises' clause defines and specifies the portion of a property that is considered the basement for the purposes of a lease or agreement. It typically outlines the boundaries, access rights, and permitted uses of the basement area, clarifying whether it is included in the leased premises and under what conditions. This clause ensures both parties understand which areas are covered by the agreement, helping to prevent disputes over space usage and responsibilities related to the basement.
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Basement Premises. A. The portion of the basement space in the building as shown on the rental plan annexed hereto as Exhibit "B" and made a part hereof (the "Basement Premises") is now occupied pursuant to a lease (the "Basement Lease") which is scheduled to expire as set forth in Exhibit "D" hereto. Provided that this lease shall be in full force and effect and without default of any of the obligations required to be observed or performed by Tenant hereunder beyond the expiration of applicable notice and cure periods, and Tenant named herein shall occupy all of the demised premises for the conduct of its business, then Tenant shall have the one-time option (the "Basement Option") exercisable only upon delivery of notice to Landlord (the "Basement Notice") no later than June 30, 2000 (the "Basement Notice Date") to lease the Basement Premises in accordance with the terms of this Article commencing on the date of tendering of delivery of possession thereof to Tenant (the "Basement Commencement Date") for the remainder of the term of this lease; provided, however, that if the Existing Basement Lease shall terminate as the result of a default by tenant thereunder prior to the stated expiration date thereof, Tenant shall have the Basement Option provided above with a Basement Notice Date which is thirty (30) days following notice by Landlord to Tenant of such earlier termination (the "Early Basement Option"). B. In the event that Tenant shall desire to exercise the Basement Option or the Early Basement Option, Tenant shall send the Basement Notice to Landlord on or before the Basement Notice Date. Time is of the essence with respect to Tenant's giving of the Basement Notice to Landlord. C. If Tenant fails to give the Basement Notice to Landlord on or before the Basement Notice Date, the Early Basement Option and the Basement Option shall be deemed revoked, null and void, and of no further force and effect, and Landlord may thereafter proceed with the leasing of all or a portion of the Basement Premises during the balance of the term of this lease upon any terms and conditions. D. If Tenant shall exercise the Early Basement Option by sending the Basement Notice to Landlord on or before the Basement Notice Date and in the manner set forth in Section B, then Section E of this Article shall be of no further force or effect, the parties shall enter into an amendment to this lease (the "Basement Amendment") for the Basement Premises, which Basement Amendment shall provide that effect...
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Basement Premises. Except as otherwise specifically set forth herein below, Landlord, at Landlord’s sole cost and expense, prior to Landlord’s delivery of the Basement Premises (i) shall construct full-height demising partitions with insulation (the “Basement Demising Walls”), and (ii) separate all systems on a commercially reasonable basis such that the Basement Premises shall operate independently from other space in the basement not leased by Tenant (collectively, the “Basement Demising Work”). The Basement Demising Walls shall be framed, drywalled, and level 4 finish toped on the interior, Basement Premises side thereof. Subject to the express terms of this Section 1.3.2, the Basement Demising Work shall be consistent with Building standards. Except as otherwise specifically set forth herein, the Basement Demising Work shall be a part of the “Delivery Condition” required in connection with the Basement Premises, Notwithstanding anything in this Section 1.3.2 to the contrary, in no event shall the Basement Demising Work require Landlord to perform Basement Demising Work with respect to any Initial Premises Basement Premises (or to otherwise construct walls or separate any Initial Premises Basement Premises for Tenant), Tenant hereby agreeing that (a) Tenant shall be responsible for any such work (and any other desired improvements in the Initial Premises Basement Premises), subject to and in accordance with the terms of this Tenant Work Letter, and (b) no work shall be required under this Section 1.3.2 to satisfy Landlord’s obligation with respect to the Delivery Condition for any Initial Premises Basement Premises.
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Basement Premises. Tenant shall retain the Basement Premises during the Extended Term; provided, however, that the monthly Base Rent for the Basement Premises, from and after the Effective Date (but retroactively adjusted to the Start Date in the same manner as described in Section 6 below for the 2-4-7 Floor Premises), shall be equal to fifty percent (50%) of the monthly Base Rent (on a per RSF basis) payable from time to time for the remainder of the 2-4-7 Floor Premises. Prior to the Effective Date, the Lease shall remain in full force and effect as to the Basement Premises and Tenant shall pay all Base Rent, Operating Expenses, Real Property Taxes and other amounts payable by Tenant under the Lease, as amended by this Amendment, with respect to the Basement Premises for periods accruing prior to the Effective Date. The Parties acknowledge that Tenant has requested the ability to convert the Basement Premises to reserved parking spaces for Tenant (at the same monthly Base Rent as provided above, based on 549 RSF, and not at the reserved parking rates set forth elsewhere in this Amendment). Landlord will consider such request within a reasonable time following the Execution Date and shall not unreasonably withhold its consent to such request; provided, however, it shall be considered reasonable for Landlord to withhold its consent if such conversion is not permitted by applicable law or would impose any additional obligations on Landlord (other than the issuance of additional Parking Passes for such area). If Landlord grants its consent and Tenant converts the Basement Premises to reserved parking, such conversion shall be governed by the alterations provisions of the Lease.
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Basement Premises. Operation of the Ph Neutralization system and for no other purpose. Mezzanine Space: General business offices and for no other purpose.
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Basement Premises. As of and following the Lease Commencement Date applicable to the Must-Take Premises 1, Tenant shall pay monthly Base Rent for the Basement Premises in an amount equal to $2.00 for each rentable square foot of the Basement Premises; provided, however, that the monthly Base Rent for the Basement Premises shall increase on each anniversary of the Must-Take Premises 1 Lease Commencement Date by an amount equal to three percent (3%).
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Basement Premises. Landlord and Tenant hereby acknowledge and agree that, as part of the Basement Demising Work, Landlord shall install double door entry doors to provide entry to and exit from the Basement Premises off of the corridor set forth on Exhibit A-2, attached hereto, in a specific location designated by Tenant, subject to Landlord’s reasonable approval. Such designation shall be made by Tenant within thirty (30) days following the date of this First Amendment.
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Basement Premises. If at any time prior to the expiration of the Term (as extended by the First Extension Term or any other extensions), the Surrender Premises Tenant, or any subsequent tenant in the Surrender Premises, vacates the portion of the Surrender Premises that it leases from Landlord, or makes such space available for sublease, then upon three (3) months’ prior written notice to Tenant, Landlord shall have the right to terminate the Lease solely with respect to approximately 3,244 rentable square feet in the Basement Premises (the “Surrendered Basement Premises”) and the Surrendered Basement Premises shall cease to be a part of the Renewal Premises and shall be surrendered to Landlord in accordance with the terms and conditions of the Lease.
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Basement Premises. Landlord and Tenant hereby acknowledge and agree that (i) the “Basement Premises” shall be comprised of 6,827 rentable square feet of space located on the basement level of the Building, as more particularly set forth on Exhibit A, attached hereto, and (ii) Tenant shall have no further or additional right to deliver a “Basement Premises Designation Notice,” as that term is defined in Section 2.2.2 of the Summary. Landlord and Tenant hereby further acknowledge and agree that the “Basement Premises” is comprised, collectively, of the “Initial Premises Basement Premises” and the “Must-Take Premises 1 Basement Premises,” as those terms are defined in Sections 2.2 and 4, respectively, of this First Amendment.
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Related to Basement Premises

  • Adjacent Premises If the Premises are part of a larger building, or of a group of buildings owned by Lessor which are adjacent to the Premises, the Lessee shall pay for any increase in the premiums for the property insurance of such building or buildings if said increase is caused by Lessee's acts, omissions, use or occupancy of the Premises.

  • Subleased Premises Sublandlord does hereby sublease to Subtenant, and Subtenant does hereby sublease and rent from Sublandlord, (i) the Space and (ii) all permanent improvements within the Space constructed by Landlord or by or on behalf of Sublandlord (collectively, the “Subleased Premises”). Subtenant shall have the right to use in common with Sublandlord and others entitled thereto the common areas of the Project pursuant to the Lease. In addition, subject to the terms, covenants and conditions of this Sublease, Subtenant shall have the exclusive right to use during the Sublease Term (defined below), free of charge, the furniture, fixtures and equipment more particularly described on Schedule A annexed hereto and made a part hereof (the “Personal Property”) located in the Space. Subtenant shall have no obligation whatsoever to repair, replace or maintain the Personal Property, unless any damage thereto is caused by the negligence or willful misconduct of Subtenant. Provided that there is no change in the size of the Subleased Premises between the date of this Sublease and the Commencement Date (defined below) (e.g., there has been no change in the size of the Subleased Premises by reason of any damage or destruction to or condemnation of the Subleased Premises), the parties hereby (i) stipulate that the Space shall be deemed to contain approximately 19,997 rentable square feet upon delivery of the Space by Sublandlord to Subtenant (the “Space Measurement”), (ii) agree that neither party shall have any right to dispute the Space Measurement and (iii) waive any claim in connection with the Space Measurement, regardless of whether the Space is found to have contained more or less than 19,997 rentable square feet upon delivery of the Space to Subtenant. Sublandlord represents and warrants for the benefit of Subtenant that the rentable square footage of the Space was not remeasured pursuant to Section 4 of the Second Amendment and that Sublandlord pays Base Rental for the Space under the Lease and Tenant’s Forecast Additional Rental and Tenant’s Additional Rental for the Space under the Lease on the basis of the Space consisting of 19,997 rentable square feet.

  • Storage Space 37.1. Subject to the provisions of this Article 37 and the provisions of Articles 11, 15, 16, and 25 of this Lease, Landlord hereby leases to Tenant approximately 400 RSF of storage space (“Storage Space”) on the Concourse Level of the Building in the approximate location as depicted on Exhibit “H”. 37.2. Tenant’s right to use the Storage Space will commence on the Commencement Date and terminate on the earlier of (i) 30 days’ prior written notice terminating Tenant’s lease of the Storage Space from either Landlord or Tenant to the other, or (ii) the expiration or earlier termination of the Term of this Lease. 37.3. During the Term, monthly rent for the Storage Space will be $500.00 ($15.00 per RSF) (“Storage Space Rent”), which will be payable in advance, without notice, on the first day of each month during the Term, at same place and in the same manner as the payment of Fixed Rent. 37.4. Tenant agrees to pay monthly, as Additional Rent, for electricity service usage by Tenant in the Storage Space, the cost of which is initially estimated to be $1.75 per RSF (per annum). 37.5. Tenant will use the Storage Space only for the storage and use of Tenant’s compressor unit and vacuum system subject to compliance by Tenant with the following conditions: (i) no noise in the Storage Space which, in the reasonable judgment of Landlord, might disturb other tenants or occupants of the Building will be made or permitted by Tenant, (ii) nothing will be done or permitted in the Storage Space by Tenant which would impair or interfere with the use or enjoyment of other portions of the Building by any tenant or occupant thereof, and (iii) the use of Tenant’s compressor in the Storage Space will be permitted by, and will be in compliance with, all applicable Laws. Tenant will use the Storage Space in a careful, safe and proper manner and install, at its sole cost and expense, any sound attenuation measures required to ensure that no noise will emanate from the Storage Space which might disturb other tenants or occupants of the Building. Tenant will not overload the floor of the Storage Space and agrees to be fully liable for any damages or losses sustained by Landlord as a result of any overloading by Tenant. Tenant will pay Landlord on demand for any damage to the Storage Space caused by misuse or abuse by Tenant, its agent or employees, or any other person entering the Storage Space under express or implied invitation of Tenant. Tenant will not utilize or permit the Storage Space to be used for any purposes prohibited by any applicable Laws. Tenant will not commit waste nor permit waste to be committed nor permit any nuisance in the Storage Space. 37.6. Landlord will provide a lock and key for the Storage Space; however, Tenant agrees that all property of Tenant kept, stored, or used in the Storage Space will be at the sole risk of Tenant and that Landlord will not be liable for any injury or damage to such property. Tenant will carry and maintain, at Tenant’s expense, insurance covering all property and equipment stored, used, or both in the Storage Space. On the Commencement Date Tenant will accept the Storage Space in its then “as-is” condition, without any further improvement by Landlord. Landlord makes no warranty or representation that the Storage Space will be suitable for any particular purpose. 37.7. Tenant will not sublease all or a portion of the Storage Space or assign its right to Lease the Storage Space. 37.8. Landlord reserves the right to relocate the Storage Space to substantially comparable space in the Building in close proximity to the Premises provided that the ability of the central utility delivery systems can deliver “product”, e.g., nitrogen gas, compressed air, to Tenant’s laboratory is unaffected by any relocation. Landlord will give Tenant a written notice of its intention to relocate the Storage Space and in such event Tenant will complete a relocation within 30 days after receipt of written notice. Landlord agrees to reimburse Tenant for its actual reasonable moving costs to such other storage space within the Building.

  • Existing Premises Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the terms of the Lease.

  • Premises Building Project and Common Areas 1.1 Premises, Building, Project and Common Areas.