Common use of Demise and Term Clause in Contracts

Demise and Term. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the premises (the "Premises") described in Item 6 of the Schedule, subject to the covenants and conditions set forth in this Lease, for a term (the "Term") commencing on the date (the "Commencement Date") described in Item 7 of the Schedule and expiring on the date (the "Expiration Date") described in Item 8 of the Schedule, unless terminated earlier as otherwise provided in this Lease. Upon the request of either of them, Landlord and Tenant agree to execute a supplemental agreement confirming the configuration of the Premises, once same has been determined. Tenant shall have, as appurtenant to the Premises, the right to use in common with others entitled thereto, subject to reasonable rules and regulations from time to time made by Landlord: (a) the common lobbies, hallways, stairways and elevators of the Building serving the Premises in common with others; (b) the common walkways necessary for access to the Building; and (c) the common pipes, ducts, conduits, wires and appurtenant fixtures serving the Premises. Notwithstanding anything herein to the contrary, all the perimeter walls of the Premises except the interior surfaces thereof, any space in or adjacent to the Premises used for shafts, stacks, pipes, conduits, wires and appurtenant fixtures, fan rooms, ducts, electric or other utilities, sinks or other Building facilities, and the use thereof, are expressly excluded from the Premises and reserved to Landlord.

Appears in 1 contract

Sources: Lease (Convergent Networks Inc)

Demise and Term. Landlord hereby leases the Premises described in Section 1.2 above to Tenant and Tenant hereby leases the Premises from Landlord the premises (the "Premises") described in Item 6 of the Schedule, subject to the covenants and conditions set forth in provisions of this Lease; provided, for a term (however, the "Term") commencing on the date (the "Commencement Date") described in Item 7 exterior walls and roof of the Schedule Premises and expiring on the date (area beneath the "Expiration Date") described in Item 8 of Premises are not demised hereunder, and the Schedule, unless terminated earlier as otherwise provided in this Lease. Upon the request of either of them, Landlord and Tenant agree to execute a supplemental agreement confirming the configuration of the Premises, once same has been determined. Tenant shall have, as appurtenant to the Premises, use thereof together with the right to use in common with others entitled theretoinstall, subject to reasonable rules maintain, inspect, use, repair and regulations from time to time made by Landlord: (a) the common lobbies, hallways, stairways and elevators of the Building serving the Premises in common with others; (b) the common walkways necessary for access to the Building; and (c) the common replace pipes, ducts, conduits, wires and appurtenant fixtures structural elements leading through the Premises in locations which will not materially interfere with Tenant’s use thereof and serving other parts of the PremisesBuilding are hereby reserved unto the Landlord. Notwithstanding anything herein The actual floor area in the Leased Premises and the Building may be remeasured by Landlord at any time during the Term. As used herein, “floor area” means the number of square feet measured from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction or exclusion by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect as to floor area shall be binding upon both parties. If the contraryfloor area determined in accordance with the foregoing differs from the floor area contained in Section 1.2 above, all then the perimeter walls Base Rent and Tenant’s Proportionate Share shall be adjusted proportionately and Tenant shall be obligated to pay the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as provided in this Lease. The Term of this Lease shall commence on the Commencement Date set forth in Section 1.6 and shall end on the Termination Date set forth in Section 1.8 unless adjusted or sooner terminated as provided herein. If Landlord is not able to deliver the Premises for any reason, Landlord shall not be subject to any liability for the failure to deliver possession, but the Commencement Date shall be delayed until possession of the Premises except is delivered to Tenant. Each party agrees, at the interior surfaces thereofrequest of the other, any space to execute and deliver an instrument confirming the actual Commencement Date and Rent Commencement Date when determined. In the event that Landlord’s Work is not substantially complete in or adjacent to accordance with Section 5 of this Lease by May 1, 2007, the Premises used Landlord shall pay Tenant the sum of Four Hundred Dollars ($400.00) per day for shaftseach day past May 1, stacks, pipes, conduits, wires and appurtenant fixtures, fan rooms, ducts, electric or other utilities, sinks or other Building facilities, and the use thereof, are expressly excluded from the Premises and reserved to 2007 that Landlord’s Work is not substantially complete.

Appears in 1 contract

Sources: Building Lease (NightHawk Radiology Holdings Inc)

Demise and Term. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the premises (the "Premises") described in Item 6 1 of the Schedule, subject to the covenants and conditions set forth in this Lease, for a term (the "Term") commencing on the date (the "Commencement Date") described in Item 7 8 of the Schedule and expiring on the date (the "Expiration Date") described in Item 8 9 of the Schedule, unless terminated earlier as otherwise provided in this Lease. Upon Tenant shall complete and furnish to Landlord, within ten (10) days after the request of either of themCommencement Date, Landlord the First Amendment to Lease attached hereto as Exhibit “D”, which shall acknowledge the actual Commencement Date and Tenant agree to execute a supplemental agreement confirming the configuration of the Premises, once same has been determinedExpiration Date. Tenant shall have, as appurtenant to the Premises, the right to use in common with others entitled thereto, subject to reasonable rules and regulations from time to time made by Landlord: (a) the common lobbies, hallways, stairways and elevators elevator(s) of the Building serving the Premises in common with others; (b) the common walkways necessary for to access to the Building; , if any, and (c) the common pipes, ducts, conduits, wires and appurtenant fixtures serving the Premises. Notwithstanding anything herein to the contrary, all the perimeter walls of the Premises except the interior surfaces thereof, any space in or adjacent to the Premises used for shafts, stacks, pipes, conduits, wires and appurtenant fixtures, fan rooms, ducts, electric or other utilities, sinks or other Building facilities, and the use thereof, are expressly excluded from the Premises and reserved to Landlord.

Appears in 1 contract

Sources: Lease Agreement (Enterprise Bancorp Inc /Ma/)

Demise and Term. (a) Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the premises (the "Premises") Premises described in Item 6 1 of the ScheduleSchedule and shown on the plan attached hereto as Exhibit A, subject and Landlord grants to Tenant a non-exclusive right and easement to utilize for parking by employees and business invitees only the covenants and conditions set forth in this Leaseentire surface parking lot on the land on which the Building is located, for a term (the "Term") commencing on the date (the "“Term Commencement Date") described in Item 7 10 of the Schedule and expiring on the date (the "“Term Expiration Date") described in Item 8 11 of the Schedule, unless extended or terminated earlier as otherwise provided in this Lease. Upon If Landlord creates reserved parking areas in the request surface parking lot, Landlord shall assign reserved spaces to Tenant equal to Tenant’s Proportionate Share of either the total number of themreserved spaces created. For so long as Landlord owns at least 51 % of the outstanding stock of Tenant, Tenant agrees to assign reserved spaces to its employees in accordance with Landlord’s policies for the granting of reserved parking to its own employees. (b) (i) Tenant is hereby granted three (3) three (3) year options to renew the Lease (“Renewal Option”). If the Tenant desires to exercise the Renewal Option, it shall so notify the Landlord, in writing, not later than the first day of the ninth (9th) month prior to the then current expiration date of the Term. Within thirty (30) days following its receipt of Tenant’s notice of its desire to exercise the Renewal Option, given at the time and in the manner provided above, Landlord shall prepare and transmit to Tenant an appropriate amendment to this Lease extending the Term for three (3) years (“Extended Term”) and specifying (1) the Base Rent for such extension, which shall be the base rental rate then being offered and accepted by landlords in the area in which the Building is located to other tenants of comparable size and location renewing leases in comparable buildings taking into account all applicable base rent escalations, rental and other concessions, abatements, allowances, commissions and tenant improvements, if any, given to such other tenants, all as reasonably determined by Landlord (the “Fair Market [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Blackhawk Lease Deer Valley Corporate Center Phoenix, AZ Rent”) and (2) that all other terms and conditions during the Extended Term are the same as those during the Term. If Tenant disagrees with Landlord’s estimation of the Fair Market Rent, it must so notify Landlord in writing within ten (10) business days of Tenant’s receipt thereof and specify Tenant’s estimation of the Fair Market Rent. If the parties are unable to agree on the Fair Market Rent for the Extended Term after thirty (30) days following Landlord’s receipt of Tenant’s estimation of Fair Market Rent, Tenant may elect in writing to (x) promptly enter into arbitration in accordance with the provisions of subsection (b)(ii) hereof or (y) revoke its election to exercise the Renewal Option. (ii) If the parties fail to agree on the Fair Market Rent, such matter shall be submitted to arbitration as hereinafter provided. Landlord and Tenant agree shall each appoint an impartial person as arbitrator who shall have had at least ten (10) years’ experience in the commercial real estate industry and hold the MAI designation. Such an appointment shall be signified in writing by each party to execute the other. In case either party shall fail to appoint an arbitrator within a supplemental agreement confirming period of ten (10) days after written notice from the configuration other party to make such appointment, then the American Arbitration Association shall appoint a second arbitrator having the qualifications described above. The arbitrators so appointed shall appoint a third arbitrator, also having such qualifications, within ten (10) days after the appointment of the Premisessecond arbitrator. In case of the failure of such arbitrators to agree upon a third arbitrator, once same has been determinedsuch third arbitrator shall be appointed by the American Arbitration Association, or its successor, from its panel of arbitrators having the qualifications described above. (iii) The arbitrators shall proceed with all reasonable dispatch to determine the Fair Market Rent by selecting either Landlord’s estimation or Tenant’s estimation of the Fair Market Rent. Tenant In no event shall have, as appurtenant to the Premises, arbitrators have the right (i) to use in common with others entitled thereto, subject average the Fair Market Rent estimates submitted by Landlord or Tenant or (ii) to reasonable rules and regulations from time to time made by Landlord: (a) choose another number as the common lobbies, hallways, stairways and elevators Fair Market Rent. The decision of the Building serving arbitrators shall in any event be rendered within thirty (30) days after their appointment, or within such other period as the Premises parties shall agree, and such decision shall be in common with others; (b) the common walkways necessary for access writing and in duplicate, one counterpart thereof to the Building; and (c) the common pipes, ducts, conduits, wires and appurtenant fixtures serving the Premises. Notwithstanding anything herein be delivered to the contrary, all the perimeter walls each of the Premises except parties who appointed them. The arbitration shall be conducted in accordance with the interior surfaces thereof, any space in rules of the American Arbitration Association (or adjacent to the Premises used for shafts, stacks, pipes, conduits, wires its successor) and appurtenant fixtures, fan rooms, ducts, electric or other utilities, sinks or other Building facilitiesapplicable Arizona law, and the use thereofdecision of a majority of the arbitrators shall be binding, are expressly excluded from final and conclusive on the Premises parties. The fees of the arbitrators and reserved the expenses incident to Landlord.the proceedings shall be shared equally by the parties, and each party shall bear the fees and costs of it own counsel and the fees of any expert witnesses and other witnesses called by such party. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Blackhawk Lease Deer Valley Corporate Center Phoenix, AZ

Appears in 1 contract

Sources: Office Space Lease (Blackhawk Network Holdings, Inc)