Condition of the Demised Premises. Tenant acknowledges receipt and delivery of complete and exclusive possession of the Demised Premises, and complete delivery of the Common Areas subject to the provisions hereof with respect to Tenant’s use and possession prior to and after the Multi-Tenant Occupancy Date, and subject to the Permitted Encumbrances and the Leases. Tenant acknowledges and confirms that for a substantial period prior to and up to and including the execution of this Master Lease, Tenant’s Parent and/or its Subsidiaries have been in continuous ownership and possession of the Demised Premises, Tenant is fully familiar therewith, and has examined and otherwise has knowledge of the condition of the Demised Premises prior to the execution and delivery of this Master Lease and has found the same to be in good order and repair and, to the best of Tenant’s knowledge, subject to the normal use and operation of SACs in the ordinary course of business, free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunder. Regardless, however, of any knowledge, examination or inspection made by Tenant and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Demised Premises “as is,” “where is” and “with all faults” in its present condition. Tenant hereby irrevocably, unconditionally and absolutely waives and relinquishes any claim or action against Landlord whatsoever in respect of the condition of the Demised Premises, including any patent or latent defects or adverse conditions not discovered or discoverable or otherwise known or unknown by Tenant as of the Commencement Date. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN FACT OR IN LAW, IN RESPECT OF THE DEMISED PREMISES OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT, INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. THE FOREGOING SHALL NOT LIMIT ANY EXPRESS COVENANTS OR OBLIGATIONS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASE. Tenant’s Initials: Landlord’s Initials: Without limiting the foregoing, Tenant realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to losses, damages, liabilities, costs and expenses that are presently unknown, unanticipated and unsuspected, and Tenant further agrees that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Tenant nevertheless hereby intends to release, discharge and acquit Landlord and all Indemnified Parties from any and all such unknown losses, damages, liabilities, costs and expenses. In furtherance of this intention, Tenant hereby expressly waives any and all rights and benefits conferred upon it by the provisions of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” Tenant acknowledges that all of the foregoing acknowledgments, releases and waivers, including the waiver of the provisions of California Civil Code Section 1542, were expressly bargained for with the advice of counsel. Tenant’s Initials: Landlord’s Initials:
Appears in 3 contracts
Sources: Master Lease (Sears Holdings Corp), Master Lease (Seritage Growth Properties), Master Lease (Seritage Growth Properties)
Condition of the Demised Premises. Tenant hereby acknowledges receipt and delivery of complete and exclusive possession of the Demised Premises, and complete delivery of the Common Areas subject to the provisions hereof with respect to Tenant’s use and possession prior to and after the Multi-Tenant Occupancy Date, and subject in each case to the Permitted Encumbrances and the Leasesterms of this Lease. Tenant hereby acknowledges and confirms that for a substantial period prior to and up to and including the execution of this Master LeaseCommencement Date, Tenant’s Parent Predecessor and/or its Subsidiaries have been were in continuous ownership and possession of the Demised Premises, and Tenant is accordingly fully familiar therewith, therewith and has examined and otherwise has knowledge of the condition of the Demised Premises prior to the execution and delivery of this Master Lease and has found the same to be in good order order, condition and repair and, (to the best of Tenant’s knowledge, subject ) and otherwise satisfactory to Tenant for the normal use and operation of SACs in the ordinary course of business, free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunderPermitted Use. Regardless, however, of any knowledge, examination or inspection made by or on behalf of Tenant and/or any of its Affiliates, and whether or not any patent or latent defect or condition was may have been revealed or discovered thereby, Tenant is leasing hereby acknowledges and agrees that Tenant leases the Demised Premises from Landlord “as is,” “where is” and “with all faults” in its present conditioncondition as of the Commencement Date. Except with respect to Landlord’s Pre-Existing Environmental Obligations, Tenant hereby irrevocably, unconditionally and absolutely waives and relinquishes any claim or action against Landlord whatsoever in respect of the condition of the Demised Premises, including any patent or latent defects or adverse conditions not discovered or discoverable or otherwise known or unknown by Tenant as of the Commencement Date. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN FACT OR IN LAW, IN RESPECT OF THE DEMISED PREMISES OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT, INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. LAWS AT ALL TIMES DURING THE FOREGOING TERM, IT BEING ACKNOWLEDGED AND AGREED BY LANDLORD, HOWEVER, THAT LANDLORD SHALL NOT LIMIT ANY EXPRESS COVENANTS OR HAVE SOLE RESPONSIBILITY AND LIABILITY FOR THE LANDLORD’S PRE-EXISTING ENVIRONMENTAL OBLIGATIONS RELATING TO PERIODS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASETIME PRIOR TO THE COMMENCEMENT OF THE TERM. Tenant’s Initials: /s/ DW Landlord’s Initials: /s/ DW /s/ BW Without limiting the foregoing, except for Landlord’s Pre-Existing Environmental Obligations with respect to any of the Properties as to which Tenant does not waive or release any claims, Tenant realizes and hereby acknowledges that factual matters now unknown to it may have given or may hereafter give rise to losses, damages, liabilities, costs and expenses that are presently unknown, unanticipated and unsuspected, and Tenant further agrees that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Tenant nevertheless hereby intends to release, discharge and acquit Landlord and all other Landlord Indemnified Parties from any and all such unknown losses, damages, liabilities, costs and expenses. In furtherance of this intention, Tenant hereby expressly waives any and all rights and benefits conferred upon it by the provisions of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” Tenant acknowledges that all of the foregoing acknowledgments, releases and waivers, including the waiver of the provisions of California Civil Code Section 1542, were expressly bargained for with the advice of counsel. Tenant’s Initials: Landlord’s Initials:
Appears in 2 contracts
Sources: Distribution Center Master Lease (Copper Property CTL Pass Through Trust), Distribution Center Master Lease (J C Penney Co Inc)
Condition of the Demised Premises. Tenant hereby acknowledges receipt and delivery of complete and exclusive possession of the Demised Premises, and complete delivery of the Common Areas subject to the provisions hereof with respect to Tenant’s use and possession prior to and after the Multi-Tenant Occupancy Datethereto, and subject in each case to the Permitted Encumbrances and the Leasesterms of this Lease. Tenant hereby acknowledges and confirms that for a substantial period prior to and up to and including the execution of this Master LeaseCommencement Date, Tenant’s Parent Predecessor and/or its Subsidiaries have been were in continuous ownership and possession of the Demised Premises, and Tenant is accordingly fully familiar therewith, therewith and has examined and otherwise has knowledge of the condition of the Demised Premises prior to the execution and delivery of this Master Lease and has found the same to be in good order order, condition and repair and, (to the best of Tenant’s knowledge, subject ) and otherwise satisfactory to Tenant for the normal use and operation of SACs in the ordinary course of business, free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunderPermitted Use. Regardless, however, of any knowledge, examination or inspection made by or on behalf of Tenant and/or any of its Affiliates, and whether or not any patent or latent defect or condition was may have been revealed or discovered thereby, Tenant is leasing hereby acknowledges and agrees that Tenant leases the Demised Premises from Landlord “as is,” “where is” and “with all faults” in its present conditioncondition as of the Commencement Date or, with respect to any Replacement Property, as of the applicable Substitution Date. Except with respect to Landlord’s Pre-Existing Environmental Obligations, Tenant hereby irrevocably, unconditionally and absolutely waives and relinquishes any claim or action against Landlord whatsoever in respect of the condition of the Demised Premises, including any patent or latent defects or adverse conditions not discovered or discoverable or otherwise known or unknown by Tenant as of the Commencement Date. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN FACT OR IN LAW, IN RESPECT OF THE DEMISED PREMISES OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT, INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. LAWS AT ALL TIMES DURING THE FOREGOING TERM, IT BEING ACKNOWLEDGED AND AGREED BY LANDLORD, HOWEVER, THAT LANDLORD SHALL NOT LIMIT ANY EXPRESS COVENANTS OR HAVE SOLE RESPONSIBILITY AND LIABILITY FOR THE LANDLORD’S PRE-EXISTING ENVIRONMENTAL OBLIGATIONS RELATING TO PERIODS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASETIME PRIOR TO THE COMMENCEMENT OF THE TERM. Tenant’s Initials: /s/ DW Landlord’s Initials: /s/ BW /s/ BW /s/ DW Without limiting the foregoing, except for Landlord’s Pre-Existing Environmental Obligations with respect to any of the Properties as to which Tenant does not waive or release any claims, Tenant realizes and hereby acknowledges that factual matters now unknown to it may have given or may hereafter give rise to losses, damages, liabilities, costs and expenses that are presently unknown, unanticipated and unsuspected, and Tenant further agrees that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Tenant nevertheless hereby intends to release, discharge and acquit Landlord and all other Landlord Indemnified Parties from any and all such unknown losses, damages, liabilities, costs and expenses. In furtherance of this such intention, Tenant hereby expressly waives waives, with respect to all Properties located within or outside of the State of California, any and all rights and benefits conferred upon it by the provisions of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” Tenant acknowledges that all of the foregoing acknowledgments, releases and waivers, including the waiver of the provisions of California Civil Code Section 1542, were expressly bargained for with the advice of counsel. Tenant’s Initials: /s/ DW Landlord’s Initials:: /s/ BW /s/ BW /s/ DW
Appears in 2 contracts
Sources: Retail Master Lease (Copper Property CTL Pass Through Trust), Retail Master Lease (J C Penney Co Inc)
Condition of the Demised Premises. 5.01. Landlord acknowledges that following execution of the Lease, Tenant acknowledges receipt may be required to perform certain construction ("Tenant's Initial Improvements") in the Demised Premises. Tenant, at its sole cost and delivery expense, shall prepare complete construction drawings and specifications including architectural, mechanical, engineering, electrical and life safety drawings ("Tenant's Plans") sufficient to obtain a building permit. Tenant's Plans shall be subject to Landlord's prior written approval. Tenant shall manage the construction bidding process and engage a contractor mutually acceptable to Landlord and Tenant to perform Tenant's Initial Improvements. As an express condition precedent to construction of complete Tenant's Initial Improvements, Tenant shall (i) provide Landlord with a Certificate of Insurance in the amount and exclusive under the terms set forth in Article 13 hereof and shall comply with all of the insurance and indemnity provisions Set forth therein and (ii) a full payment and performance bond, issued by a surety company satisfactory to Landlord and in form and substance satisfactory to Landlord in favor of Landlord for the construction of Tenant's Initial Improvements. Landlord shall not be entitled to any construction management fee, but shall be entitled to recover from Tenant the out-of-pocket or the actual cost of architectural, engineering and legal review of Tenant's plans. Any work performed by Tenant hereunder shall comply with any and all governmental rules and regulations including, but not limited to, rules and regulations pertaining to the Americans with Disabilities Act.
5.02. Tenant has inspected the Demised Premises and accepts the same "as is" in their presently existing condition, and Landlord shall have no obligation to perform any work in order to prepare the Demised Premises for Tenant's occupancy, except that Landlord shall, on or prior to the commencement date, insure that the Demised Premises in other areas of the Building that will be used by Tenant, shall be free of asbestos containing material and other hazardous materials.
5.03. Tenant shall occupy and take possession of the Demised Premises, and complete delivery of Premises promptly on the Common Areas subject Commencement Date. Except as expressly provided to the provisions hereof with respect to Tenant’s use and possession prior to and after the Multi-Tenant Occupancy Date, and subject to the Permitted Encumbrances and the Leases. Tenant acknowledges and confirms that for a substantial period prior to and up to and including the execution of contrary in this Master Lease, Tenant’s Parent and/or its Subsidiaries have been in continuous ownership and the taking of possession of the Demised Premises, by Tenant is fully familiar therewith, and has examined and otherwise has knowledge of the condition of the Demised Premises prior shall be conclusive evidence as against Tenant that the Demised Premises and the Building were in good and satisfactory condition at the time such possession was taken.
5.04. Tenant shall have the right to install conduits and cables within the vertical risers of the building to the execution and demised premises required for Tenant's Permitted Use pursuant to Tenant's Riser Plan (the "Riser Plan"), approved by Landlord. Such right is expressly subject to (i) delivery of this Master Lease plans and has found specifications indicating in specific detail the amount, location, size and other information requested by Landlord relating to the installation of such conduits; (ii) Landlord's prior written approval of such plans and specifications, which approval shall be in Landlord's sole reasonable discretion, and (iii) the approval of any and all governmental authorities having jurisdiction over such work. Tenant shall be responsible for any and all costs associated with the performance of such work. Landlord will have the absolute right to be present during the course of the performance of any such work, to halt such work in the event that Tenant fails to comply with Landlord's approved plans and specifications and to inspect such work from time to time as Landlord deems fit. Tenant shall be responsible for any and all costs, associated with Landlord's inspection or approval of Tenant's Plans, the Riser Plan or the performance of Tenant's Initial Improvements. In the event that such work requires the penetration of surfaces within the Building, Tenant shall use its best efforts to conceal such work and the surface finish shall be returned to the same condition as it was at the time that Tenant commenced the work. Future additional Riser space may be provided to be in good order and repair and, to the best of Tenant’s knowledge, Tenant subject to the normal use conditions set forth above as to the Riser Plan and operation subject further to (i) the availability of SACs additional Riser space in Landlord's sole and absolute discretion; (ii) the ordinary course Building rules and regulations; and (iii) payment of business, free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunder. Regardless, however, of any knowledge, examination or inspection made Riser fees as determined by Tenant and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Demised Premises “as is,” “where is” and “with all faults” Landlord in its present conditionsole and absolute discretion. Tenant hereby irrevocably, unconditionally and absolutely waives and relinquishes any claim or action against Landlord whatsoever in respect There shall be no charges for Tenant's use of the condition of Riser space pursuant to the Demised Premises, including any patent or latent defects or adverse conditions not discovered or discoverable or otherwise known or unknown by Tenant as of the Commencement Date. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN FACT OR IN LAW, IN RESPECT OF THE DEMISED PREMISES OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT, INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. THE FOREGOING SHALL NOT LIMIT ANY EXPRESS COVENANTS OR OBLIGATIONS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASE. Tenant’s Initials: Landlord’s Initials: Without limiting the foregoing, Tenant realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to losses, damages, liabilities, costs and expenses that are presently unknown, unanticipated and unsuspected, and Tenant further agrees that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Tenant nevertheless hereby intends to release, discharge and acquit Landlord and all Indemnified Parties from any and all such unknown losses, damages, liabilities, costs and expenses. In furtherance of this intention, Tenant hereby expressly waives any and all rights and benefits conferred upon it by the provisions of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTORRiser Plan.” Tenant acknowledges that all of the foregoing acknowledgments, releases and waivers, including the waiver of the provisions of California Civil Code Section 1542, were expressly bargained for with the advice of counsel. Tenant’s Initials: Landlord’s Initials:
Appears in 1 contract
Condition of the Demised Premises. Tenant acknowledges receipt and delivery of complete and exclusive possession of the Demised Premises, and complete delivery of the Common Areas subject to the provisions hereof with respect to Tenant’s use and possession prior to and after the Multi-Tenant Multi‑Tenant Occupancy Date, and subject to the Permitted Encumbrances and the Leases. Tenant acknowledges and confirms that for a substantial period prior to and up to and including the execution of this Master Lease, Tenant’s Parent and/or its Subsidiaries have been in continuous ownership and possession of the Demised Premises, Tenant is fully familiar therewith, and has examined and otherwise has knowledge of the condition of the Demised Premises prior to the execution and delivery of this Master Lease and has found the same to be in good order and repair and, to the best of Tenant’s knowledge, subject to the normal use and operation of SACs in the ordinary course of business, free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunder. Regardless, however, of any knowledge, examination or inspection made by Tenant and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Demised Premises “as is,” “where is” and “with all faults” in its present condition. Tenant hereby irrevocably, unconditionally and absolutely waives and relinquishes any claim or action against Landlord whatsoever in respect of the condition of the Demised Premises, including any patent or latent defects or adverse conditions not discovered or discoverable or otherwise known or unknown by Tenant as of the Commencement Date. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN FACT OR IN LAW, IN RESPECT OF THE DEMISED PREMISES OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT, INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. THE FOREGOING SHALL NOT LIMIT ANY EXPRESS COVENANTS OR OBLIGATIONS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASE. Tenant’s Initials: _____ Landlord’s Initials: ____ Without limiting the foregoing, Tenant realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to losses, damages, liabilities, costs and expenses that are presently unknown, unanticipated and unsuspected, and Tenant further agrees that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Tenant nevertheless hereby intends to release, discharge and acquit Landlord and all Indemnified Parties from any and all such unknown losses, damages, liabilities, costs and expenses. In furtherance of this intention, Tenant hereby expressly waives any and all rights and benefits conferred upon it by the provisions of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” Tenant acknowledges that all of the foregoing acknowledgments, releases and waivers, including the waiver of the provisions of California Civil Code Section 1542, were expressly bargained for with the advice of counsel. Tenant’s Initials: _____ Landlord’s Initials:: ____
Appears in 1 contract
Condition of the Demised Premises. Tenant hereby acknowledges receipt and delivery agrees that (i) all work and installations heretofore required to be performed or made by Landlord under the Original Lease have been fully performed or made prior to the date hereof; (ii) Tenant has inspected the Original Premises and agrees to accept same in its “as is” condition as of complete the date hereof; (iii) Tenant has inspected the 5,003 Expansion Premises and exclusive possession agrees to accept same in its “as is” condition as of the date hereof and Landlord shall not be required to perform any work, make any installations or incur any expense in or with respect to the Original Premises (or any portion thereof) in order to prepare same for continued occupancy by Tenant or in or with respect to the 5,003 Expansion Premises (or any portion thereof) in order to prepare same for occupancy by Tenant except that Landlord will perform the work and make the installations, at Landlord’s sole cost and expense, and in accordance with the requirements of the Lease (including this Agreement), as set forth on the Floor Plan annexed hereto as Exhibit A, which work is sometimes hereinafter referred to as the “5,003 Expansion Work”. In connection with the performance of the 5,003 Expansion Work, Tenant shall provide Landlord and its contractors with access to the Demised Premises, and complete delivery of the Common Areas subject to the provisions hereof with respect extent necessary, in order to Tenant’s use and possession prior to and after perform the Multi-Tenant Occupancy Date, and subject to the Permitted Encumbrances and the Leases5,003 Expansion Work. Tenant acknowledges and confirms agrees that for a substantial period prior there shall be no liability to Landlord, and up to no abatement of the obligations and including liabilities of Tenant under the execution of this Master Lease, on account of any inconvenience or interference that may result from Landlord’s performance of the 5,003 Expansion Work except to the extent the same arise from or in connection with the gross negligence or willful misconduct of Landlord or its employees, contractors, agents or representatives. To the extent necessary, Tenant shall be responsible for moving the furniture and equipment in the Original Premises (at Tenant's sole cost and expense) in order to permit Landlord to perform the 5,003 Expansion Work. Landlord shall use commercially reasonable efforts to minimize interference with or disruption of Tenant’s Parent and/or its Subsidiaries have been in continuous ownership and possession use of the Demised Premises, Tenant is fully familiar therewith, and has examined and otherwise has knowledge of the condition balance of the Demised Premises prior to while performing the execution and delivery of this Master Lease and has found the same to be in good order and repair and, to the best of Tenant’s knowledge, subject to the normal use and operation of SACs in the ordinary course of business, free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunder. Regardless, however, of any knowledge, examination or inspection made by Tenant and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Demised Premises “as is,” “where is” and “with all faults” in its present condition. Tenant hereby irrevocably, unconditionally and absolutely waives and relinquishes any claim or action against Landlord whatsoever in respect of the condition of the Demised Premises, including any patent or latent defects or adverse conditions not discovered or discoverable or otherwise known or unknown by Tenant as of the Commencement Date. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN FACT OR IN LAW, IN RESPECT OF THE DEMISED PREMISES OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT, INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. THE FOREGOING SHALL NOT LIMIT ANY EXPRESS COVENANTS OR OBLIGATIONS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASE. Tenant’s Initials: Landlord’s Initials: Without limiting the foregoing, Tenant realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to losses, damages, liabilities, costs and expenses that are presently unknown, unanticipated and unsuspected, and Tenant further agrees that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Tenant nevertheless hereby intends to release, discharge and acquit Landlord and all Indemnified Parties from any and all such unknown losses, damages, liabilities, costs and expenses. In furtherance of this intention, Tenant hereby expressly waives any and all rights and benefits conferred upon it by the provisions of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR5,003 Expansion Work.” Tenant acknowledges that all of the foregoing acknowledgments, releases and waivers, including the waiver of the provisions of California Civil Code Section 1542, were expressly bargained for with the advice of counsel. Tenant’s Initials: Landlord’s Initials:
Appears in 1 contract
Condition of the Demised Premises. Tenant acknowledges receipt will be deemed to have accepted the Demised Premises in their “AS IS” condition on the date of Substantial Completion of the Tenant’s Work. Notwithstanding the foregoing, Landlord will use reasonable efforts to enforce any applicable guaranties or warranties related to the tenant buildout, and delivery Landlord shall be responsible for repair of complete all non-code compliant work for any adjacent space that impacts Tenant’s ability to obtain permits, approvals, or a certificate of occupancy. To: Re: Lease dated , , as amended by dated (as amended, the “Lease”) between , as Landlord, and exclusive , as Tenant, for the property known as (the “Property”). Ladies and Gentlemen: The undersigned, as Tenant, certifies to you as follows, with the understanding and intention that you will rely on the following information:
1. Tenant has accepted possession of the Demised Premisespremises described in the Lease (the “Leased Space”). All work required to be performed by Landlord under the Lease has been completed in a satisfactory manner. The commencement date of the Lease was , , and complete delivery the initial Lease term expires on , . If extended or modified the existing expiration is , . The Lease contains options on the part of the Common Areas subject Tenant to extend the provisions hereof with respect term of the Lease for periods of years each.
2. Tenant presently utilizes the entire Leased Space for its normal business activities and has not closed or moved its normal business activities from the Leased Space. Additionally, Tenant has not given any notice to Landlord, either verbally or in writing, of Tenant’s use and possession prior intention to and after vacate the Multi-Tenant Occupancy DateLeased Space in whole or in part, and subject to the Permitted Encumbrances and the Leasesexcept as follows: . Tenant acknowledges and confirms that for a substantial period prior to and up to and including the execution of this Master Lease[If none, Tenant’s Parent and/or its Subsidiaries have been in continuous ownership and possession of the Demised Premises, Tenant is fully familiar therewith, and has examined and otherwise has knowledge of the condition of the Demised Premises prior to the execution and delivery of this Master Lease and has found the same to be in good order and repair and, to so state].
3. To the best of Tenant’s knowledge, subject there are no offsets, defenses or counterclaims with respect to the normal use payment of rent under the Lease or to the Tenant’s performance of the other terms, covenants and operation conditions of SACs the Lease.
4. As of the date hereof no default in the ordinary course of business, free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunder. Regardless, however, performance of any knowledgecovenant, examination or inspection made by Tenant and whether or not any patent or latent defect agreement, term, provision, or condition was revealed or discovered thereby, Tenant is leasing contained in the Demised Premises “as is,” “where is” and “with all faults” in its present conditionLease has been declared by either party to the Lease. Tenant hereby irrevocably, unconditionally and absolutely waives and relinquishes any claim or action against Landlord whatsoever in respect As of the condition date hereof Tenant has no knowledge of the Demised Premises, including any patent facts or latent defects or adverse conditions not discovered or discoverable or otherwise known or unknown by Tenant as of the Commencement Date. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN FACT OR IN LAW, IN RESPECT OF THE DEMISED PREMISES OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT, INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. THE FOREGOING SHALL NOT LIMIT ANY EXPRESS COVENANTS OR OBLIGATIONS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASE. Tenant’s Initials: Landlord’s Initials: Without limiting the foregoing, Tenant realizes and acknowledges that factual matters now unknown to circumstances which it may have given or may hereafter might reasonably believe would give rise to lossesany default by either Landlord or Tenant.
5. Except as may be set forth below, damagesLandlord does not hold a security deposit from Tenant in connection with the Lease. Security Deposit: $ . [If none, liabilitiesso state.]
6. Except as may be set forth below, costs no rent under the Lease has been paid more than thirty (30) days in advance of the due date. Tenant is currently paying each month rent, additional rent and expenses that are presently unknownother charges, unanticipated and unsuspectedas set forth below:
(a) Square footage of occupied space .
(b) Basic rent per month in the amount of $ , paid through , . The next increase in basic rent shall occur , and shall be .
(c) Common Area Costs pro rata charges per month in the amount of $ .
(d) Tax pro rata charges per month in the amount of $ .
(e) Insurance pro rata charges per month in the amount of $ . Executed and delivered by Tenant further agrees that the waivers and releases herein have been negotiated and agreed upon in light this day of that realization and that Tenant nevertheless hereby intends to release, discharge and acquit Landlord and all Indemnified Parties from any and all such unknown losses, damages, liabilities, costs and expenses. In furtherance of this intention, Tenant hereby expressly waives any and all rights and benefits conferred upon it by the provisions of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” Tenant acknowledges that all of the foregoing acknowledgments, releases and waivers, including the waiver of the provisions of California Civil Code Section 1542, were expressly bargained for with the advice of counsel20 . Tenant’s Initials: Landlord’s Initials, a By: Print Name: Print Title:
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Condition of the Demised Premises. 5.01. Landlord acknowledges that following execution of the Lease, Tenant acknowledges receipt may be required to perform certain construction (“Tenant’s Initial Improvements”) in the Demised Premises. Tenant, at its sole cost and delivery expense, shall prepare complete construction drawings and specifications including architectural, mechanical, engineering, electrical and life safety drawings (“Tenant’s Plans”) sufficient to obtain a building permit. Tenant’s Plans shall be subject to Landlord’s prior written approval. Tenant shall manage the construction bidding process and engage a contractor mutually acceptable to Landlord and Tenant to perform Tenant’s Initial Improvements. As an express condition precedent to construction of complete Tenant’s Initial Improvements, Tenant shall (i) provide Landlord with a Certificate of Insurance in the amount and exclusive under the terms set forth in Article 13 hereof and shall comply with all of the insurance and indemnity provisions set forth therein and (ii) a full payment and performance bond, issued by a surety company satisfactory to Landlord and in form and substance satisfactory to Landlord in favor of Landlord for the construction of Tenant’s Initial Improvements. Landlord shall not be entitled to any construction management fee, but shall be entitled to recover from Tenant the out-of-pocket or the actual cost of architectural, engineering and legal review of Tenant’s plans. Any work performed by Tenant hereunder shall comply with any and all governmental rules and regulations including, but not limited to, rules and regulations pertaining to the Americans with Disabilities Act.
5.02. Tenant has inspected the Demised Premises and accepts the same “as is” in their presently existing condition, and Landlord shall have no obligation to perform any work in order to prepare the Demised Premises for Tenant’s occupancy, except that Landlord shall, on or prior to the commencement date, insure that the Demised Premises in other areas of the Building that will be used by Tenant, shall be free of asbestos containing material and other hazardous materials.
5.03. Tenant shall occupy and take possession of the Demised PremisesPremises promptly on the Commencement Date. Except as expressly provided to the contrary in this Lease, the taking of possession by Tenant of the Demised Premises shall be conclusive evidence as against Tenant that the Demised Premises and complete the Building were in good and satisfactory condition at the time such possession was taken.
5.04. Tenant shall have the right to install conduits and cables within the vertical risers of the building to the demised premises required for Tenant’s Permitted Use pursuant to Tenant’s Riser Plan (the “Riser Plan”), approved by Landlord. Such right is expressly subject to (i) delivery of plans and specifications indicating in specific detail the amount, location, size and other information requested by Landlord relating to the installation of such conduits; (ii) Landlord’s prior written approval of such plans and specifications, which approval shall be in Landlord’s sole reasonable discretion; and (iii) the approval of any and all governmental authorities having jurisdiction over such work. Tenant shall be responsible for any and all costs associated with the performance of such work. Landlord will have the absolute right to be present during the course of the performance of any such work, to halt such work in the event that Tenant fails to comply with Landlord’s approved plans and specifications and to inspect such work from time to time as Landlord deems fit. Tenant shall be responsible for any and all costs, associated with Landlord’s inspection or approval of Tenant’s Plans, the Riser Plan or the performance of Tenant’s Initial Improvements. In the event that such work requires the penetration of surfaces within the Building, Tenant shall use its best efforts to conceal such work and the surface finish shall be returned to the same condition as it was at the time that Tenant commenced the work. Future additional Riser space may be provided to Tenant subject to the conditions set forth above as to the Riser Plan and subject further to (i) the availability of additional Riser space in Landlord’s sole and absolute discretion; (ii) the Building rules and regulations; and (iii) payment of Riser fees as determined by Landlord in its sole and absolute discretion. There shall be no charges for Tenant’s use of the Riser space pursuant to the Riser Plan.
5.05. Tenant shall, at its sole cost and expense, install a life safety system for the Demised Premises (including, without limitation, fire detection and fire suppression system, consisting of a pre-action sprinkler or FN200) which life safety system shall be connected to the life safety system for the Building.
5.06. Landlord reserves the right, at any time and from time to time, to increase, reduce or change the number, type, size, location, elevation, nature and use of any of the Common Areas subject of the Building and any other buildings and other improvements on the Land, including without limitation the right to the provisions hereof move and/or remove same, provided same shall not unreasonably block or interfere with respect to Tenant’s use and possession prior means of ingress or egress to and after the Multi-Tenant Occupancy Date, and subject to the Permitted Encumbrances and the Leases. Tenant acknowledges and confirms that for a substantial period prior to and up to and including the execution of this Master Lease, Tenant’s Parent and/or its Subsidiaries have been in continuous ownership and possession of from the Demised Premises, Tenant is fully familiar therewith, and has examined and otherwise has knowledge of the condition of the Demised Premises prior to the execution and delivery of this Master Lease and has found the same to be in good order and repair and, to the best of Tenant’s knowledge, subject to the normal use and operation of SACs in the ordinary course of business, free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunder. Regardless, however, of any knowledge, examination or inspection made by Tenant and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Demised Premises “as is,” “where is” and “with all faults” in its present condition. Tenant hereby irrevocably, unconditionally and absolutely waives and relinquishes any claim or action against Landlord whatsoever in respect of the condition of the Demised Premises, including any patent or latent defects or adverse conditions not discovered or discoverable or otherwise known or unknown by Tenant as of the Commencement Date. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN FACT OR IN LAW, IN RESPECT OF THE DEMISED PREMISES OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT, INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. THE FOREGOING SHALL NOT LIMIT ANY EXPRESS COVENANTS OR OBLIGATIONS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASE. Tenant’s Initials: Landlord’s Initials: Without limiting the foregoing, Tenant realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to losses, damages, liabilities, costs and expenses that are presently unknown, unanticipated and unsuspected, and Tenant further agrees that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Tenant nevertheless hereby intends to release, discharge and acquit Landlord and all Indemnified Parties from any and all such unknown losses, damages, liabilities, costs and expenses. In furtherance of this intention, Tenant hereby expressly waives any and all rights and benefits conferred upon it by the provisions of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” Tenant acknowledges that all of the foregoing acknowledgments, releases and waivers, including the waiver of the provisions of California Civil Code Section 1542, were expressly bargained for with the advice of counsel. Tenant’s Initials: Landlord’s Initials:
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Condition of the Demised Premises. Tenant acknowledges receipt and delivery of complete and exclusive possession of the Demised Premises, and complete delivery of the Common Areas subject to the provisions hereof with respect to Tenant’s use and possession prior to and after the Multi-Tenant Occupancy Date, and subject to the Permitted Encumbrances and the LeasesSection 4.01. Tenant acknowledges that it has inspected and confirms that for a substantial period prior to and up to and including the execution of this Master Lease, Tenant’s Parent and/or its Subsidiaries have been in continuous ownership and possession of the Demised Premises, Tenant is fully familiar therewith, with and has examined and otherwise has knowledge of the condition of the Demised Premises prior to the execution and delivery of this Master Lease and has found the same to be in good order and repair and, to the best of Tenant’s knowledge, subject to the normal use and operation of SACs in the ordinary course of business, free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunder. Regardless, however, of any knowledge, examination or inspection made by Tenant and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Demised Premises “as is,” “where is” and “with all faults” in its present AS IS condition. Without limiting the generality of the foregoing, Tenant hereby irrevocablyacknowledges, unconditionally agrees and absolutely waives represents that Tenant has been given free access to and relinquishes has inspected the Demised Premises to its satisfaction and is relying solely on its inspection. Neither Landlord nor any claim other party has made any representations or action against warranties of any kind as to the condition, design, use, operation, expenses, maintenance or repair of the Demised Premises. Landlord whatsoever shall not be responsible for any latent or other defects or changes in respect of the condition of the Demised Premises.
Section 4.02. The Demised Premises constitutes a self-contained unit; and nothing in this Lease shall impose upon Landlord any obligation to provide any services for the benefit of Tenant, including but not limited to water, gas, electricity, heat, janitorial or garbage removal.
(a) In addition to any patent or latent defects or adverse conditions not discovered or discoverable or otherwise known or unknown by Basic Rent, Additional Rent and any other sums due under this Lease, Tenant has placed with Landlord the sum of $303,750 (referred to herein as the "Roof Reserve"). The Roof Reserve shall be kept in an interest bearing account under Tenant's tax identification number and interest earned thereon shall be taxed to the Tenant; and Landlord's right to possession of the Commencement DateDemised Property for non-payment of Basic Rent, or for any other reason, shall not in any event be affected by reason of the Landlord's holding the Roof Reserve.
(b) Tenant shall expeditiously make those certain repairs to or replacements of the roofs to the Buildings as set forth in that certain report attached hereto as Exhibit B and shall utilize the Roof Reserve for such repairs to or the replacement of the roofs to the Buildings. LANDLORD MAKES NO WARRANTY OR REPRESENTATIONTenant shall access the Reserve and conduct any permitted repairs or replacements subject to the requirements of and in the same manner as set forth in Section 11.03 of the Lease except that any remaining proceeds, EXPRESS OR IMPLIEDincluding interest accrued, IN FACT OR IN LAWshall be distributed to the Tenant upon completion of the repairs.
(c) In the event it is determined to the reasonable satisfaction of Landlord that the amount necessary to meet the conditions of this Paragraph 4.03 is less than $303,750, IN RESPECT OF THE DEMISED PREMISES OR ANY PART THEREOFthe Roof Reserve shall be reduced accordingly with any excess being distributed to the Tenant.
(d) The foregoing is in addition to, EITHER AS TO ITS FITNESS FOR USEand not in lieu of, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISETenant's continuing obligation to be responsible for all structural and roof repairs and replacement
(a) In addition to any Basic Rent, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE EXISTENCE OF ANY HAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT, INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH ALL ENVIRONMENTAL LAWS. THE FOREGOING SHALL NOT LIMIT ANY EXPRESS COVENANTS OR OBLIGATIONS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASE. Tenant’s Initials: Landlord’s Initials: Without limiting the foregoingAdditional Rent and any other sums due under this Lease, Tenant realizes has placed with Landlord the sum of $21,875 (referred to herein as the "Remediation Reserve"); The Remediation Reserve shall be kept in an interest bearing account under Tenant's tax identification number and acknowledges interest earned thereon shall be taxed to the Tenant; and Landlord's right to possession of the Demised Property for non-payment of Basic Rent, or for any other reason, shall not in any event be affected by reason of the Landlord's holding the Remediation Reserve.
(b) Tenant shall expeditiously make those certain repairs to or replacements as required by that factual matters now unknown certain Phase 2 Environmental Report dated October 5, 2006 (the "Phase 2 Report") as set forth in that certain report attached hereto as Exhibit C and shall utilize the Remediation Reserve for such repairs to it may have given or may hereafter give rise replacements. Tenant shall access the Reserve and conduct any permitted repairs or replacements subject to lossesthe requirements of and in the same manner as set forth in Section 11.03 of the Lease except that, damagesprovided there is no condition of an uncured material default under the Lease by Tenant, liabilitiesany remaining proceeds, costs and expenses that are presently unknownincluding interest accrued, unanticipated and unsuspectedshall be distributed to the Tenant upon completion of the repairs.
(c) The foregoing is in addition to, and Tenant further agrees that the waivers not in lieu of, Tenant's continuing obligation to be responsible for all structural and releases herein have been negotiated Remediation repairs and agreed upon in light of that realization and that Tenant nevertheless hereby intends to release, discharge and acquit Landlord and all Indemnified Parties from any and all such unknown losses, damages, liabilities, costs and expenses. In furtherance of this intention, Tenant hereby expressly waives any and all rights and benefits conferred upon it by the provisions of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” Tenant acknowledges that all of the foregoing acknowledgments, releases and waivers, including the waiver of the provisions of California Civil Code Section 1542, were expressly bargained for with the advice of counsel. Tenant’s Initials: Landlord’s Initials:replacement
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