Event Space. Subject to compliance with the applicable provisions of the Lease, applicable Laws and to the provisions of this Section 39, Subtenant shall have the right to exclusively utilize the Heritage Room (and Atrium) on the 9th floor of the Prime Leased Premises or the Dining Facility (and terrace spaces) on the 23rd floor Prime Leased Premises (either such space, as applicable, the “Event Space”; any such utilization, a “Subtenant Event”) at Sublandlord’s standard rate therefor (the “Event Rate”) (which Event Rate shall be the then prevailing market rate for such Event Space as reasonably determined by Sublandlord, and which, as of the date hereof, is $25,000.00 per event, inclusive of base cleaning and turnover) and in connection with any such Subtenant Event, Subtenant shall have the right to use any audio/visual equipment associated with the Event Space at a reasonable rate reasonably agreed upon by Sublandlord and Subtenant. Subtenant may exercise such right, from time to time, in a notice to Sublandlord (a “Subtenant Event Notice”), given at least thirty (30) days prior to the date of such Subtenant Event, which Subtenant Event Notice shall specify the proposed date and time for the Subtenant Event, description of the Subtenant Event and expected number of attendees; provided that Sublandlord shall have the right to cancel a Subtenant Event on notice to Subtenant, at least twenty-one (21) days prior to the scheduled date of such Subtenant Event in any case in which Sublandlord shall be using the applicable Event Space on the date specified in the Subtenant Event Notice, in which case Sublandlord and Subtenant shall reasonably cooperate to find a mutually agreed upon date for such Subtenant Event. Sublandlord acknowledges that Subtenant intends to have approximately fifteen (15) Subtenant Events at the Event Space per calendar year in order to accommodate Subtenant’s town-hall meetings and other events, and, subject to Sublandlord’s needs to use the Event Space, the parties shall reasonably cooperate to enable Subtenant to use the Event Space as needed by Subtenant for such town-hall meetings and other events. Sublandlord shall promptly repair all damage to the Event Space and other portions of the Prime Leased Premises in either case caused by Subtenant’s use of the Event Space, including, without limitation, moving and removing materials, supplies and other property to and from the Event Space. Subtenant shall pay to Sublandlord, (a) the Event Rate and any rate associated with any use of any audio/visual equipment within thirty (30) days after the applicable Subtenant Event, and (b) within thirty (30) days after delivery by Sublandlord to Subtenant of an invoice therefor (together with reasonable supporting documentation for the charges set forth therein, if available), (i) all reasonable costs and expenses reasonably incurred by Sublandlord in connection with such repair, and (ii) all reasonable costs reasonably incurred by Sublandlord of cleaning the Event Space beyond the base cleaning included in the Event Rate, and any other reasonable incremental costs reasonably incurred by Sublandlord, in connection with Subtenant’s use of the Event Space for a Subtenant Event. 26 40.
Appears in 1 contract
Sources: Sublease
Event Space. Subject to compliance with the applicable provisions of the Lease, applicable Laws and to the provisions of this Section 39, Subtenant shall have the right to exclusively utilize the Heritage Room (and Atrium) on the 9th floor of the Prime Leased Premises or the Dining Facility (and terrace spaces) on the 23rd floor Prime Leased Premises (either such space, as applicable, the “Event Space”; any such utilization, a “Subtenant Event”) at Sublandlord’s standard rate therefor (the “Event Rate”) (which Event Rate shall be the then prevailing market rate for such Event Space as reasonably determined by Sublandlord, and which, as of the date hereof, is $25,000.00 per event, inclusive of base cleaning and turnover) and in connection with any such Subtenant Event, Subtenant shall have the right to use any audio/visual equipment associated with the Event Space at a reasonable rate reasonably agreed upon by Sublandlord and Subtenant. Subtenant may exercise such right, from time to time, in a notice to Sublandlord (a “Subtenant Event Notice”), given at least thirty (30) days prior to the date of such Subtenant Event, which Subtenant Event Notice shall specify the proposed date and time for the Subtenant Event, description of the Subtenant Event and expected number of attendees; provided that Sublandlord shall have the right to cancel a Subtenant Event on notice to Subtenant, at least twenty-one (21) days prior to the scheduled date of such Subtenant Event in any case in which Sublandlord shall be using the applicable Event Space on the date specified in the Subtenant Event Notice, in which case Sublandlord and Subtenant shall reasonably cooperate to find a mutually agreed upon date for such Subtenant Event. Sublandlord acknowledges that Subtenant intends to have approximately fifteen (15) Subtenant Events at the Event Space per calendar year in order to accommodate Subtenant’s town-hall meetings and other events, and, subject to Sublandlord’s needs to use the Event Space, the parties shall reasonably cooperate to enable Subtenant to use the Event Space as needed by Subtenant for such town-hall meetings and other events. Sublandlord shall promptly repair all damage to the Event Space and other portions of the Prime Leased Premises in either case caused by Subtenant’s use of the Event Space, including, without limitation, moving and removing materials, supplies and other property to and from the Event Space. Subtenant shall pay to Sublandlord, (a) the Event Rate and any rate associated with any use of any audio/visual equipment within thirty (30) days after the applicable Subtenant Event, and (b) within thirty (30) days after delivery by Sublandlord to Subtenant of an invoice therefor (together with reasonable supporting documentation for the charges set forth therein, if available), (i) all reasonable costs and expenses reasonably incurred by Sublandlord in connection with such repair, and (ii) all reasonable costs reasonably incurred by Sublandlord of cleaning the Event Space beyond the base cleaning included in the Event Rate, and any other reasonable incremental costs reasonably incurred by Sublandlord, in connection with Subtenant’s use of the Event Space for a Subtenant Event. 26 40.
Appears in 1 contract
Sources: Sublease (Coach Inc)