Existing Lease. Landlord and Tenant hereby agree that the holdover term of the Existing Lease shall expire on October 31, 2006 (the “Existing Lease Expiration Date”).; provided that Tenant shall have the right to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in the Existing Lease) and any other additional rent amounts accruing under the Existing Lease until its expiration as herein provided. All terms of the Existing Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything to the contrary herein or in the Existing Lease, Tenant shall have the right, prior to surrender of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and in accordance with the terms of the Existing Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdover.
Appears in 1 contract
Existing Lease. Landlord If the Existing Lease terminates with respect to the Must- Take Space prior to December 31, 2010 and Tenant hereby agree that the holdover term Tibco Sublease has not been previously terminated for any reason, the Tibco Sublease automatically shall be deemed terminated as of the date of termination of the Existing Lease shall expire on October 31, 2006 (the “Existing Lease Expiration Early Termination Date”).; , the Must-Take Effective Date automatically shall be accelerated to the day immediately following the Early Termination Date (the “Advance Must-Take Effective Date”), Tenant shall be deemed to have taken possession of the Must-Take Space pursuant to the terms of the Lease and this Must-Take provision as of the Advance Must-Take Effective Date, and the terms and conditions of this Lease applicable to the Must-Take Space shall be in full force and effect with respect to the Must-Take Space as of the Advance Must-Take Effective Date, except that (a) the Must-Take Term shall be extended to include the period commencing upon the Advance Must-Take Effective Date through and including December 31, 2010 (such period being referred to herein as the “Advance Must-Take Term”), and (b) the Base Rent for the Must-Take Space during the Advance Must-Take Term shall be the then Prevailing Market rate for the Must-Take Space, as determined in accordance with Subsection F below, as modified by this paragraph, provided that there shall be no Minimum Initial Base Rent or Maximum Initial Base Rent for such purposes. Landlord and Tenant acknowledge and agree that the determination of Base Rent for the Advance Must-Take Term is independent of and shall not affect in any way the determination of Base Rent for the remainder of the Must-Take Term, as set forth in Subsection F below. In the event that the Tibco Sublease is in effect but Tenant has not yet taken possession of a portion of the Must-Take Space by the Advance Must-Take Effective Date, then Tenant shall have take possession of such portion of the right to extend the Existing Lease Expiration Date for a period Must-Take Space, in its then as-is condition, immediately upon Landlord’s recovery of one (1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per monthpossession thereof, and Tenant shall continue not be required to be liable for its proportionate share of Direct Expenses (as such term is defined in the Existing Lease) and any other additional rent amounts accruing under the Existing Lease until its expiration as herein provided. All terms of the Existing Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything to the contrary herein or in the Existing Lease, Tenant shall have the right, prior to surrender of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and in accordance with the terms of the Existing Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights pay Rent with respect to such portion until Landlord has so recovered possession. Promptly following the Permitted Holdover PeriodEarly Termination Date, as set forth if any (regardless of whether such date is prior to April 1, 2010, notwithstanding Paragraph F.1 below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after commence the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as procedure set forth above in this Section 5 Subsection F below for determining the Prevailing Market rate for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of holdMust-over), such Permitted Holdover Period being voided by such extended unpermitted holdoverTake Space during the Advance Term.
Appears in 1 contract
Sources: Research and Development/Office Lease (Affymax Inc)
Existing Lease. Landlord Lessee is currently the tenant and Tenant Lessor is currently the landlord under that certain Lease, dated as of February 11, 1986, as the same has been amended by that certain First Amendment to Lease, dated as of June 1, 1988 and that certain Second Amendment to Lease, dated as of September 14, 1992 (collectively, the "Existing Lease"), pursuant to which Lessee currently leases space on the 26th and 35th floors of the Building (the "Existing Space"). Lessor and Lessee hereby agree that the holdover term Existing Lease is modified as follows:
(a) From and after the Effective Date until the termination date of the Existing Lease (as the same may be extended in accordance with subsection (b) hereinbelow), Lessee shall expire on October 31, 2006 (pay to Lessor as the “Existing Lease Expiration Date”).; provided that Tenant shall have the right to extend annual Base Rent under the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for an amount equal to $16.75 per rentable square foot contained in the Existing Space through the Existing Lease Expiration Date (as it may have been extended) Space. Such Base Rent shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in the Existing Lease) and any other additional rent amounts accruing under the Existing Lease until its expiration as herein provided. All terms of the Existing Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything to the contrary herein or in the Existing Lease, Tenant shall have the right, prior to surrender of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and paid in accordance with the terms of the Existing Lease.
(b) The Existing Lease shall terminate as of March 31, 1996 as though such date were the termination date set forth in the Lease; provided, however, such termination date shall be extended for each day that the Commencement Date is delayed as a result of Lessor's Delay; provided, however, that the termination date of the Existing Lease shall not be extended to the extent that any Lessor's Delay results from Lessee Delay. Notwithstanding any provision in the Existing Lease to the contrary, Lessee shall not be required to pay any termination fee in connection with such termination of the Existing Lease. Notwithstanding any provision in this Section 32 or any other provision in this Lease to the contrary, Lessee shall not be excused from paying Base Rent, Additional Rent and applicable law. Tenant any other sums due and Landlord expressly agree that all rights and remedies available to Landlord owing or performing any of its other obligations under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Dateaccruing through March 31, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdover1996.
Appears in 1 contract
Existing Lease. The parties acknowledge that Landlord currently leases to Tenant and Tenant hereby agree currently leases from Landlord Suite 1200 and Suite 2700 in the Tower (the “Existing Premises”) and Suite 2510 in the Tower (the “25th Floor Space”) pursuant to that certain Office Lease Agreement dated May 30, 2006, as amended by First Amendment to Lease dated January 15, 2007, by Second Amendment to Lease dated February 27, 2007, by Third Amendment to Lease dated as of May 5, 2008 and by Fourth Amendment to Lease dated August 7, 2009 (as so amended, the holdover term “Existing Lease”). Effective as of the date which is sixty (60) days after the Commencement Date under this Lease, Tenant’s lease of the Existing Premises under the Existing Lease shall terminate and shall be of no further force or effect (except for those provisions of the Existing Lease shall expire on October 31, 2006 (the “Existing Lease Expiration Date”).; provided that Tenant shall have the right to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006which, by giving Landlord irrevocable written notice thereof no later than October 24their terms, 2006. Tenant’s base rent for expressly survive the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share expiration or earlier termination of Direct Expenses (as such term is defined in the Existing Lease). The period from the Commencement Date under this Lease through the date which is sixty (60) and any other additional rent amounts accruing under days thereafter may be referred to herein as the Existing Lease until its expiration as herein provided“Moving Period”. All terms of the Existing Lease shall continue in full force and effectHowever, including without limitation the surrender provisions thereof. Notwithstanding notwithstanding anything to the contrary herein or contained in the Existing Lease, Tenant shall have no obligation to pay Base Rent, Expenses or Taxes (as those terms are defined in the rightExisting Lease) for the Existing Premises pursuant to the Existing -41- Lease attributable to such sixty (60) day Moving Period. Should Tenant fail to vacate the Existing Premises and surrender the Existing Premises to Landlord on or before the expiration of the Moving Period, prior to surrender the holdover provisions of the Existing SpaceLease shall apply. Notwithstanding anything to the contrary contained in the Existing Lease, Tenant need not restore the Existing Premises to its original condition or remove any improvements from the Existing Premises; provided, however, that Tenant shall be required to remove (i) Tenant’s all furniture, equipment and personal property from the Existing Space Premises and to remove cabling from the Existing Premises so designated for removal (iito the applicable telephone closet(s)) by Landlord and shall return such space to Landlord in broom-clean condition. The parties acknowledge that Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation lease of the Existing Space. However, Tenant shall have no obligation 25th Floor Space pursuant to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extendedshall not be terminated under this Section 35(a) subject to and in accordance with the terms Tenant’s lease of the Existing Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law 25th Floor Space shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder continue as provided in Section 24 of the Existing Fourth Amendment to Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrarydated August 7, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdover2009.
Appears in 1 contract
Sources: Standard Office Lease
Existing Lease. (A) Landlord and Tenant hereby agree acknowledge that American Capital Access Service Corporation, Tenant’s subsidiary, is presently in possession of the holdover term entire 47th floor of the Building and a portion of the 48th floor of the Building (collectively, the “Existing Premises”) as more particularly shown in Exhibit A-1 annexed hereto pursuant to the terms of (i) that certain Lease dated August 7, 1998 (the “1998 Lease”) by and between MSDW ▇▇▇ ▇▇▇▇▇▇▇▇ Property, L.L.C., as predecessor-in-interest to Landlord, as landlord, and American Capital Access Service Corporation, as predecessor-in-interest to Tenant, as tenant, together with and as modified by (i) First Amendment of Lease dated May 21, 1999 (the “First Amendment”; the 1998 Lease and the First Amendment are, collectively, the “Existing Lease”). The Existing Lease shall expire by its terms on August 31, 2009. Landlord agrees to credit the security deposit held under the Existing Lease towards the Security Deposit due under this Lease. Prior to the Existing Premises Commencement Date, the terms and conditions of the Existing Lease shall govern the occupancy of the Existing Premises; provided, however that (i) the provisions of Article Seventh and Article Eighth of the Existing Lease (Refusal Space and Option Space) are hereby deleted and of no further force or effect and (ii) Tenant may elect to perform Tenant’s Initial Alteration prior to Commencement Date, subject to the provisions of Article 2 hereof.
(B) Effective as of the Additional Premises Commencement Date, the Premises shall be deemed to consist of (i) the Existing Premises and (ii) an additional portion of the 48th floor of the Building (the “Additional Premises”) as more particularly shown on Exhibit A-2 annexed hereto, and the term “Premises” shall mean the Existing Premises and the Additional Premises. Tenant acknowledges the Additional Premises are occupied by Platinum Technology International, Inc. (“Platinum”), another tenant of the Building under the terms of a lease which shall expire on as of October 31, 2009 (the “Platinum Lease”). Landlord acknowledges that Platinum, as sublandlord and Tenant, as subtenant, have entered into a sublease dated October 19, 2006 (the “ACA Sublease”). The parties hereby acknowledge that the premises demised under the ACA Sublease (the “Sublease Premises”) are the same space as the Additional Premises demised under this Lease.
(C) Landlord and Tenant hereby acknowledge that any default by Tenant under the Existing Lease Expiration Date”).; provided that beyond the expiration of applicable notice and cure periods (or under the sublease affecting the Additional Premises) shall, at Landlord’s option, be deemed a default under the terms of this Lease. Notwithstanding anything to the contrary, in the event the Existing Lease (and/or the sublease affecting the Additional Premises) is terminated or expires pursuant to its terms prior to the Commencement Date of this Lease, or Landlord or Tenant exercise a right of termination pursuant to the terms of the Existing Lease, this Lease shall be deemed void ab initio. Upon such termination Landlord shall have the right to extend retain a portion of the Existing Lease Expiration Date for a period of one Security Deposit as provided in Section 8.01 (1D) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006hereof. Tenant’s base rent for the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in the Existing Lease) and any other additional rent amounts accruing Any security deposit held under the Existing Lease until its expiration as herein provided. All terms may be applied towards payment of the Existing Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything to the contrary herein or in the Existing Lease, Tenant shall have the right, prior to surrender of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 obligations under the Existing this Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and in accordance with the terms of the Existing Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdover.
Appears in 1 contract
Existing Lease. Landlord and Tenant hereby acknowledge and agree that the holdover term of the Existing (i) Landlord’s predecessor in interest, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into that certain Lease shall expire on October 31Agreement dated November 30, 2006 (the “Existing Lease Expiration DateAllscripts Lease”).; provided , pursuant to which Corning Road, L.L.C. leased to Allscripts approximately 10,273 rentable square feet of space (the “Existing Premises”) in that certain office building now owned by Landlord and commonly known as Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Cary, North Carolina (the “Crossroads I Building”), (ii) Tenant and Allscripts entered into that certain Sublease Agreement dated December 3, 2008 (the “Sublease”), pursuant to which Tenant subleased the Existing Premises from Allscripts, and (iii) as of the date hereof, the Allscripts Lease and the Sublease have been terminated. Between the date of this Lease and the Commencement Date, (x) Landlord and Tenant hereby acknowledge and agree that Tenant shall have the right to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined remain in the Existing Lease) and any other additional rent amounts accruing under the Existing Lease until its expiration as herein provided. All terms possession of the Existing Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything Premises pursuant to the contrary herein or terms of this Lease, (y) for the purposes of construing Tenant’s obligations in relation to the Existing Premises under the terms of this Lease, all references in this Lease to the “Premises” shall include the Existing Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall have vacate the rightExisting Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, prior Tenant shall pay Landlord Minimum Rental equal to surrender $9,476.84 per calendar month for its lease of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing LeasePremises, which payments shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and made in accordance with the terms provisions of the Existing Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdover3 hereof.
Appears in 1 contract
Sources: Lease Agreement (Amber Road, Inc.)
Existing Lease. Landlord and Tenant hereby agree Pursuant to that the holdover term of the Existing certain ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Lease shall expire on October 31, 2006 Agreement (the “Existing SpikeSource Lease”) between Landlord and SpikeSource, Inc., a Delaware corporation (“SpikeSource”) dated as of June 29, 2009, Landlord leased the Premises to SpikeSource. By written agreement dated of even date herewith, Landlord and SpikeSource have agreed to terminate the SpikeSource Lease Expiration Date”).; provided that on the terms and conditions set forth therein, which terms and conditions include the obligation of SpikeSource to (i) transfer all of its interest in the Furniture to Landlord and leave the Furniture in the Premises, and (ii) pay the commissions of Tenant’s broker, CresaPartners, and SpikeSource’s broker, Cornish & ▇▇▇▇▇, which are payable in connection with this Lease. Landlord shall not be in breach of this Lease, Tenant shall have the no right to extend terminate this Lease (except as provided in the Existing Lease Expiration Date for next following sentence), and Landlord shall have no liability to Tenant, on account of the failure on the part of SpikeSource to either leave the Furniture in the Premises or to pay said commissions. Notwithstanding the foregoing, if SpikeSource fails to leave any of the Furniture in the Premises (beyond a period of one (1) monthde minimis amount), through November 30, 2006, by giving Tenant may give Landlord irrevocable written notice thereof of such fact no later than October 245:00 p.m. on December 21, 20062010. Tenant’s base rent for Landlord shall thereupon give Tenant written notice, no later than noon on December 23, 2010, if it is willing to replace the Existing Space through missing Furniture. If Landlord gives written notice to Tenant of its willingness to replace the Existing Lease Expiration Date (as missing Furniture it may have been extended) shall continue do so promptly. If Landlord gives written notice to be $53,361.00 per month, and Tenant shall continue that it is unwilling to be liable for its proportionate share of Direct Expenses (as such term is defined in replace the Existing Lease) and missing Furniture or fails to give Tenant any other additional rent amounts accruing under the Existing Lease until its expiration as herein provided. All terms of the Existing Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything to the contrary herein or in the Existing Leasewritten notice, Tenant shall have the right, prior to surrender of the Existing Spaceas its sole remedy, to remove (i) Tenant’s personal property from terminate this Lease by giving Landlord written notice of such termination no later than noon on December 24, 2010. Notices under the Existing Space and (ii) Tenant’s installed audioimmediately preceding sentence shall be given by e-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage mail to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation following addresses: If to restore the Existing Space to the condition it was in at the time of its delivery Landlord: [email addresses]; If to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and in accordance with the terms of the Existing Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdover.: [email addresses]
Appears in 1 contract
Sources: Lease Agreement (Audience Inc)
Existing Lease. Landlord (a) The Port Authority and Tenant the Lessee's predecessor in interest, The First Boston Corporation, have heretofore entered into an agreement of lease dated as of May 10, 1979, and identified by Port Authority Lease No. WT-2209-N-6 (1497), which agreement of lease, as the same has been heretofore supplemented and amended, is hereinafter called the "Existing Lease".
(b) Effective as of 11:59 o'clock P.M. on December 31, 1998 (which date and hour is hereinafter referred to as the "Existing Lease Surrender Date"), the Lessee hereby agree surrenders and yields up and does by these presents grant, bargain, sell, surrender and yield up to the Port Authority, its successors and assigns, forever the entire premises under the Existing Lease (such premises under the Existing Lease being hereinafter referred to as the "Existing Premises") and the term of years with respect thereto under the Existing Lease yet to come, and has given, granted and surrendered and by these presents does give, grant and surrender to the Port Authority, its successors and assigns, all the rights, rights of renewal, licenses, privileges and options of the Lessee granted by the Existing Lease with respect to the Existing Premises, all to the intent and purpose that the holdover said term under the Existing Lease and the said rights of renewal, licenses, privileges and options may be wholly merged, extinguished and determined on the Existing Lease Surrender Date with the same force and effect as if the said term were in, and by the provisions of the Existing Lease shall originally fixed to expire on October 31, 2006 (such date and further to the “Existing Lease Expiration Date”).; provided extent and purpose that Tenant shall have all obligations and rights of the right to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in the Existing Lease) and any other additional rent amounts accruing parties under the Existing Lease until its expiration end on the Existing Lease Surrender Date except for accrued obligations which are unpaid or unsatisfied thereunder on such Existing Lease Surrender Date.
(c) The Lessee shall not be required to remove or change any of the construction or installation work performed, or any improvements made, in the Existing Premises, or to remove therefrom any furniture, equipment, signs, inventories, trade fixtures and/or other personal property of the Lessee or for which the Lessee is responsible as herein provided. All terms of the Existing Lease shall continue in full force and effect, including without limitation Surrender Date. The Lessee's continued occupancy of the surrender provisions thereof. Notwithstanding anything Existing Premises after the Existing Lease Surrender Date pursuant to the contrary herein or in provisions of this Agreement shall be deemed delivery by the Lessee to the Port Authority of the Existing Lease, Tenant Premises for the purposes of paragraph (b) of this Section.
(d) The Lessee shall have the non-exclusive right, prior to surrender of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and in accordance with the terms and conditions of this Agreement, to continue to use, maintain and replace for the term of the Existing Lease letting hereunder all ducts and applicable law. Tenant and Landlord expressly agree that all rights and remedies available conduits it was permitted to Landlord use under the Existing Lease and solely for the purposes it was permitted to use same for its operations under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdoverLease.
Appears in 1 contract
Sources: Lease Agreement (Credit Suisse First Boston Usa Inc)
Existing Lease. Landlord and Tenant hereby agree acknowledge that the holdover term Tenant is currently a tenant at 2840 San T▇▇▇▇ Expressway, one of the Existing Lease shall expire Other Buildings located on October 31, 2006 the Real Property (the “Existing Space”) pursuant to an Office Lease Expiration Datedated June 11, 1990, as amended and assigned (the “Existing Lease”).; provided that Tenant shall have the right to extend the . The Existing Lease Expiration Date for a period of one (1) monthis hereby extended from the expiration date thereof, through November 30i.e., March 31, 2006, by giving Landlord irrevocable written notice thereof no later than October 24through the fifth (5th) business day following the Commencement Date hereunder (the “Existing Space Holdover Period”). Notwithstanding anything to the contrary in the Existing Lease, 2006. Tenant’s base rent Base Rent for the Existing Space through for the entirety of the Existing Lease Expiration Space Holdover Period (but excluding the five (5) business days following the Commencement Date (as it may have been extendedfor which Base Rent shall not be charged on the Existing Space) shall continue to be Fifty-Three Thousand Three Hundred Sixty-One and 00/100 Dollars ($53,361.00 53,361.00) per month, and . Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in the Existing Lease) and any other additional rent amounts accruing under the Existing Lease until its expiration as herein providedprovided herein. All terms of the Existing Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything to the contrary herein or in the Existing Lease, Tenant shall have the right, prior to surrender of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and in accordance with the terms of the Existing Lease. In the event of termination of this Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available for any reason prior to Landlord under Tenant’s relocation from the Existing Space to the Premises, the Existing Space Holdover Period shall terminate thirty (30) days following the date of such Lease termination and under applicable law Tenant shall apply in surrender the event Premises by the end of such extended Existing Space Holdover Period. If Tenant does not fails to timely surrender the Existing Space to Landlord on as required hereunder, Tenant shall be liable for holdover rent as originally provided in the Existing Lease Expiration DateLease. In the event the Commencement Date does not occur by September 29, 2006 as it may have been extended a result of Landlord Delay (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth belowhereinafter defined), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of Base Rent for the Existing Lease to $308,308.00 (Space during the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender remainder of the Existing Space Holdover Period thereafter occurring (but excluding the “Permitted Holdover Period”five (5) at no cost to Tenant. However, if Tenant fails to surrender business days following the Commencement Date for which Base Rent shall not be charged on the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant Space) shall be obligated reduced to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire $22,530.20 per month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-overpayable on a per diem basis), such Permitted Holdover Period being voided by such extended unpermitted holdover.. The term “
Appears in 1 contract
Sources: Office Lease (Intervoice Inc)
Existing Lease. Landlord Tenant acknowledges and agrees that Tenant currently occupies the entire Premises pursuant to that Office Lease between ECT ▇▇▇▇▇▇▇▇▇ LLC (Landlord’s predecessor-in-interest) and Tenant hereby agree that the holdover term of the Existing Lease shall expire on October 31dated February 23, 2006 2005 (the “Existing Lease Expiration DateOriginal Lease”).; provided , which was amended by that Tenant shall have the right First Amendment to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30dated March 9, 2006, by giving that Second Amendment to Lease dated December 19,2006, by that Third Amendment to Lease dated May 15,2007, by that Forth Amendment to Lease dated December 12, 2007, by that Fifth Amendment to Lease dated March 11,2011, by that Sixth Amendment to Lease dated June 10,2011, by that Seventh Amendment to Lease dated October 3, 2011, and by that Eighth Amendment To Lease dated January 18,2012. The Original Lease, as so amended, is hereinafter referred to as the “Existing Lease.” Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Existing Space through and Tenant agree that the Existing Lease Expiration is in full force and effect and shall expire at 11:59 p.m. Pacific Time on July 31, 2015. On and after the Lease Date, Tenant shall not have any right to exercise any options to renew, extend or expand (if any), or rights of first offer or first refusal (if any), or other similar rights (if any) that may exist under the Existing Lease. Except to the extent that certain provisions of this Lease are stated to apply to Tenant, the Premises and Tenant’s Work pursuant to Exhibit B prior to the Commencement Date (as it may have been extended) shall continue to be $53,361.00 per monthof this Lease, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in lease the Existing Lease) and any other additional rent amounts accruing under Premises pursuant to the Existing Lease until its expiration as herein provided. All terms of the Existing Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything prior to the contrary herein or in the Existing Commencement Date of this Lease, Tenant shall have the right, prior to surrender of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and in accordance with the terms of the Existing Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdover.
Appears in 1 contract
Sources: Sublease (Gymboree Corp)
Existing Lease. Landlord (a) Tenant acknowledges that, as of the Lease Date, Tenant occupies the Existing Premises under the terms of the Existing Lease, and that, subject to the terms of this Lease, Tenant’s rights and obligations with respect to the Existing Premises are and shall remain governed solely by he Existing Lease. Tenant hereby agree agrees to vacate and surrender possession of the Existing Premises and to complete the relocation of its business operations to the Premises no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the holdover Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the Existing Premises beyond the expiration of the term of the Existing Lease shall expire on October 31, 2006 without the consent of Landlord (the “Existing Lease Expiration Date”).; provided that Tenant shall have the right to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in the Existing Lease) and any other additional rent amounts accruing under the Existing Lease until its expiration as herein provided. All terms of the Existing Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything addition to the contrary herein or in rent payable with respect to the Existing Lease, Tenant shall have Premises) until the right, prior to actual vacation and surrender of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and Premises in accordance with the terms of this Lease. Subject to the foregoing, the Existing Lease shall be deemed terminated as of the Existing Premises Surrender Date, and applicable law. Tenant and Landlord expressly agree that all rights and remedies available shall have no further responsibility or obligations with respect to Landlord the Existing Premises except as provided in Section 2.2(b).
(b) Nothing herein is intended as a release of Tenant of any obligations under the Existing Lease to pay Operating Expenses and under applicable law shall apply in Tax Expenses accruing prior to the event later to occur of the Rent Commencement Date and, if Tenant does not surrender the Existing Space to Landlord Premises on or before the Existing Lease Expiration Premises Surrender Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 actual date of surrender of the Existing Lease to $308,308.00 Premises in the condition required by this Section 2.2(a) (the “Unpermitted Holdover RentExisting Lease Early Termination Date”). Notwithstanding anything ) and, in this Section 5 addition, shall not be a release by Landlord of any claim or right of indemnification by Tenant for any third party claims filed prior to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period or after the Existing Lease Expiration Early Termination Date (as it may have been extended) and relating to complete Tenant’s vacation and surrender the use and/or occupancy of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. HoweverPremises by Tenant or any of its, if Tenant fails to surrender the Existing Space in the required condition on employees, agents, contractors customers or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdoverinvitees.
Appears in 1 contract
Existing Lease. The parties acknowledge that Landlord currently leases to Tenant and Tenant hereby agree currently leases from Landlord Suite 1200 and Suite 2700 in the Tower (the “Existing Premises”) and Suite 2510 in the Tower (the “25th Floor Space”) pursuant to that certain Office Lease Agreement dated May 30, 2006, as amended by First Amendment to Lease dated January 15, 2007, by Second Amendment to Lease dated February 27, 2007, by Third Amendment to Lease dated as of May 5, 2008 and by Fourth Amendment to Lease dated August 7, 2009 (as so amended, the holdover term “Existing Lease”). Effective as of the date which is sixty (60) days after the Commencement Date under this Lease, Tenant’s lease of the Existing Premises under the Existing Lease shall terminate and shall be of no further force or effect (except for those provisions of the Existing Lease shall expire on October 31, 2006 (the “Existing Lease Expiration Date”).; provided that Tenant shall have the right to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006which, by giving Landlord irrevocable written notice thereof no later than October 24their terms, 2006. Tenant’s base rent for expressly survive the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share expiration or earlier termination of Direct Expenses (as such term is defined in the Existing Lease). The period from the Commencement Date under this Lease through the date which is sixty (60) and any other additional rent amounts accruing under days thereafter may be referred to herein as the Existing Lease until its expiration as herein provided“Moving Period”. All terms of the Existing Lease shall continue in full force and effectHowever, including without limitation the surrender provisions thereof. Notwithstanding notwithstanding anything to the contrary herein or contained in the Existing Lease, Tenant shall have no obligation to pay Base Rent, Expenses or Taxes (as those terms are defined in the rightExisting Lease) for the Existing Premises pursuant to the Existing Lease attributable to such sixty (60) day Moving Period. Should Tenant fail to vacate the Existing Premises and surrender the Existing Premises to Landlord on or before the expiration of the Moving Period, prior to surrender the holdover provisions of the Existing SpaceLease shall apply. Notwithstanding anything to the contrary contained in the Existing Lease, Tenant need not restore the Existing Premises to its original condition or remove any improvements from the Existing Premises; provided, however, that Tenant shall be required to remove (i) Tenant’s all furniture, equipment and personal property from the Existing Space Premises and to remove cabling from the Existing Premises so designated for removal (iito the applicable telephone closet(s)) by Landlord and shall return such space to Landlord in broom-clean condition. The parties acknowledge that Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation lease of the Existing Space. However, Tenant shall have no obligation 25th Floor Space pursuant to restore the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extendedshall not be terminated under this Section 35(a) subject to and in accordance with the terms Tenant’s lease of the Existing Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law 25th Floor Space shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder continue as provided in Section 24 of the Existing Fourth Amendment to Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrarydated August 7, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdover2009.
Appears in 1 contract
Sources: Standard Office Lease (Coinstar Inc)
Existing Lease. Landlord Lessee is currently occupying other space in the building pursuant to a lease between Penn Center Plaza No. Two, Ltd., an Ohio limited partnership and Tenant Lessor's predecessor in interest as the owner of the building, as landlord, and Home Unity Savings & Loan Association, as tenant, dated February 13, 1986, as thereafter amended (as so amended, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective as of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agree agrees with Lessee, and Lessee hereby agrees with Lessor, that the holdover term of the Existing Lease shall expire on October 31, 2006 (and the “Existing Lease Expiration Date”).; provided that Tenant shall have the right to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, respective rights and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in the Existing Lease) and any other additional rent amounts accruing under the Existing Lease until its expiration as herein provided. All terms obligations of the Existing Lease parties thereunder shall continue in full force and effecteffect upon all of its terms and conditions (except as to its expiration date) until the Commencement Date and shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date of the initial term of this lease (or, including without limitation the surrender provisions thereof. Notwithstanding anything if this lease is for any reason terminated prior to the contrary herein or in Commencement Date, the Existing LeaseLease shall automatically terminate on the later of the date on which this lease terminates or February 28, Tenant 1994), except for liabilities accrued to the date of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease through the date of such termination and Lessee's obligation to surrender the premises demised by the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) Lessee shall have the rightright (but not the obligation) to relocate and utilize all of said former tenant's trade fixtures, prior to surrender of the Existing Spacefurniture and equipment, to remove (i) Tenant’s personal property including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from the Existing Space and The Resolution Trust Corporation, 4nd (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant Lessee shall have no obligation to (a) restore or repair the Existing Space premises demised pursuant to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date at the termination thereof, (as it may have been extendedb) subject to and in accordance with remove the terms vault or any other fixtures or equipment from such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at the expiration of the Existing Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdoverlease.
Appears in 1 contract
Existing Lease. Landlord and Tenant hereby agree Sigma Computing, Inc., a Delaware corporation (“Sigma”) are parties to that the holdover term certain: (i) Office Lease dated as of the Existing Lease shall expire on October 31June 6, 2006 2018 (the “Existing Lease Expiration DateOriginal Lease”); and (ii) Amendment to Lease dated as of October 8, 2018 (the “First Amendment”). The Original Lease and the First Amendment are collectively referred to herein as the “Existing Lease.; provided that Tenant shall have the right ” Pursuant to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in the Existing Lease, Landlord leases to Sigma and Sigma leases from Landlord the Premises. Sigma subleased the Premises to Landed, Inc., a Delaware corporation (“Landed”) pursuant to that certain Sublease Agreement dated as of November 15, 2021 (“Sublease”), by and any other additional rent amounts accruing under the Existing Lease until its expiration between Sigma and Landed, as herein providedconsented to by Landlord pursuant to that certain Consent to Sublease dated December 22, 2021, among Landlord, Sigma and Landed. All terms Tenant is currently in possession of the entire Premises pursuant to that certain Sub-Sublease Agreement dated as of October 28, 2022 (the “Sub-Sublease”), by and between Landed and Tenant, as consented to by Landlord pursuant to that certain Consent to Sub-Sublease dated January 20, 2023 among Landlord, Sigma, Landed and Tenant. The Existing Lease, the Sublease and the Sub-Sublease will each expire in accordance with its terms as of 11:59 P.M. on the day before the Lease shall continue in full force and effectCommencement Date; provided, including without limitation the surrender provisions thereof. Notwithstanding however, that notwithstanding such termination or anything to the contrary herein or in the Existing Lease, the Sublease or the Sub-Sublease to the contrary, Tenant shall have not be obligated to vacate and surrender possession of the right, prior Premises to surrender Landlord since Tenant will be leasing the Premises directly from Landlord pursuant to this Lease immediately following such termination of the Existing SpaceLease, to remove (i) Tenant’s personal property from the Existing Space Sublease and (ii) Tenant’s installed audioSub-visual equipment from the audio-visual room thereinSublease. In addition, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant Landlord shall have no obligation to restore deliver the Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned Premises to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to free and in accordance with the terms clear of the Existing Lease occupancy of Sigma or Landed; provided, however, that as between Landlord and applicable law. Tenant the Sigma and Landlord expressly agree that all rights Landed, Sigma and remedies available to Landlord under the Existing Lease and under applicable law Landed shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the no right to increase lease or otherwise occupy the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation Premises and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in solely responsible for ensuring that Sigma or Landed vacate the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdoverPremises.
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