Common use of Expansion Clause in Contracts

Expansion. Effective on and as of December 1, 2017 (such date being the -Expansion Commencement Date”), the Premises shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 of the Building (the “Expansion Space”), being more fully shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Date.

Appears in 3 contracts

Sources: Office Lease (Livongo Health, Inc.), Office Lease (Livongo Health, Inc.), Office Lease (Livongo Health, Inc.)

Expansion. Effective on and as of December 1, 2017 (such date being Lessee has the -Expansion Commencement Date”), the Premises shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 of the Building right (the “Expansion SpaceRight)) to acquire from the City of New Brighton, being more fully shown and described on Minnesota certain real estate parcels adjacent to the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant Property (the “Existing TenantOption Property”) and pursuant to that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30certain Contract for Private Redevelopment dated June 10, 2017. Tenant hereby waives any claims against Landlord in 2014 (the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date“Redevelopment Contract”). In the event there is any delay Lessee desires to exercise the Expansion Right, Lessor shall cooperate with Lessee to exercise such rights under the Redevelopment Contract to purchase the Option Property and to construct building improvements on the Option Property, which improvements may adjoin, or connect to, the building improvements, located upon the Property. In the event the Lessee exercises its Expansion Right and acquires the Option Property during the Lease term hereof, Lessee shall not convey its fee interest in the delivery Option Property, or any portion thereof, to any third party without providing Lessor with the following right of first refusal to purchase the Option Property (the “Option Property Right of First Refusal”). If Lessee receives an offer by a third party to purchase the Option Property, or any portion thereof, which Lessee desires to accept, Lessee shall deliver a copy of said offer to Lessor (the “Option Property Right of First Refusal Notice”) Lessee’s notice to Lessor shall state: (i) Lessee’s desire and intention to sell all or any part of the Expansion Space Option Property; and (ii) full details of the offer received by it, and a description of the purchase price as well as the overall transaction. Lessor shall have twenty (20) days from and after receiving the Option Property Right of First Refusal Notice to Tenant (includingelect to purchase the Option Property, without limitationor such portion as may be the subject of the offer, due to upon the Existing Tenant holding over terms and conditions set forth in the Expansion Space past Option Property Right of First Refusal Notice, including all rights, privileges and timetables contained in the expiration offer and any amendments related thereto which had been accepted by Lessee. If Lessor elects to purchase the Option Property, or such portion as may be the subject of the offer, the closing shall occur as set forth in the Option Property Right of First Refusal Notice or at such date as may be mutually agreed upon by and between the parties. If Lessor fails to give Lessee written notice within the twenty (20) day period of its lease)intent to purchase the Option Property, or such portion as may be the subject of the offer, then this the Option Property Right of First Amendment Refusal shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such dateterminate; provided, however, that if such closing as described in the Expansion Commencement DateOption Property Right of First Refusal Notice does not occur, and Tenant’s obligation to commence paying rent with respect to then the Expansion Space, Option Property Right of First Refusal shall commence on the Expansion Commencement Dateremain in effect.

Appears in 2 contracts

Sources: Lease Agreement (Cardiovascular Systems Inc), Purchase and Sale Agreement (Cardiovascular Systems Inc)

Expansion. Effective on and as (a) Landlord agrees to hold available for the exclusive benefit of December 1, 2017 (such date being Tenant for a period of up to five years from the -Expansion Commencement Date”), Date the Premises shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 land lying north of the Building shown on Exhibit C (the "Expansion Space”Lot") for construction of an expansion of the Building of between approximately 50,000 - 100,000 square feet (the "Expansion Building"). Landlord shall hold the Expansion Lot for the first three years at no cost to Tenant. Thereafter, being more fully a payment of $20,000.00 per year shall be required to reserve the Expansion Lot for years four and five. Each such annual payment shall be made in advance, on or before the first day of each Lease Year. If Tenant fails to pay the required annual payment within thirty (30) days of its due date, Landlord's obligation to reserve such land shall terminate. (b) If Tenant notifies Landlord that it elects to build the Expansion Building prior to the end of the fifth lease year, Landlord shall construct the Expansion Building subject to the following conditions: (i) a building shell (the "Base Warehouse Building") substantially in accordance with the specification of the Building shall be constructed at Landlord's cost and expense; (ii) the construction of all office improvements or any upgrade to the Base Warehouse Building shall be at Tenant's cost and expense; (iii) the Expansion Building shall be between approximately 50,000 and 100,000 rentable square feet, subject to Tenant's needs, as determined by Tenant and applicable zoning, subdivision and sits conditions; (iv) the plans, specifications and construction schedule for the Expansion Building shall be mutually agreed upon between Landlord and Tenant; (v) the Expansion Building shall not be attached to the Building unless otherwise agreed. (c) The Base Rent for the Expansion Building will be at the then Fair Market Rental Value computed in accordance with the provisions of Paragraph 5(b) of this Rider. The security for the Expansion Building will be determined as follows: (i) twelve months of the initial Base Rent if the net worth as shown and described on the floor plan attached hereto consolidated financial statements of Genesis Direct, Inc. ("GDI") at the time of the commencement of the lease for the Expansion Building (the "Expansion Commencement") is $10,000,000.00 or less; (ii) six months of the initial Base Rent if the net worth as Exhibit A shown on the consolidated financial statements of GDI at the Expansion Commencement is greater than $10,000,000.00. One-sixth of the security for the Expansion Building lease will be returned at the end of each 12 month period under the Expansion Lease in accordance with the provisions of Paragraph 6 of this Rider. Otherwise, the Expansion Building will be leased on substantially the same terms and made a part hereof for all purposes, for conditions of this Lease. (d) The term of the lease of the Expansion Building shall be the greater of (i) seven (7) years from the date of Expansion Commencement and (ii) a term that is coterminous with expiring on the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30Expiration Date, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond term of the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery lease of the Expansion Space Building extends beyond the Expiration Date, Tenant shall be deemed to have exercised its option for the First Renewal Term, the length of which shall be adjusted so that it shall be coterminous with the then remaining term of the lease of the Expansion Building. Thereafter, Tenant shall have options to renew this Lease as to either or both the Building and the Expansion Building (includingas if this Lease and the lease for the Expansion Building were two (2) separate and distinct leases) for two periods of five (5) years each, without limitationupon the terms and at the base rental determined according to Paragraph 5(a) above, due except that if the First Renewal Term is adjusted to the Existing Tenant holding over a term less than five (5) years, as provided in the Expansion Space past the expiration second (2nd) sentence of its leasethis Paragraph 10(d), then Tenant shall have the option to renew this First Amendment shall Lease (but not be void or voidable, nor shall Landlord be liable to Tenant the lease for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15Building) for a "Third Renewal Term" of five (5) years, 2017, upon the terms and Landlord hereby consents at the base rental determined according to Tenant permitting Existing Tenant Paragraph 5 (a) above. Each of said options must be exercised as provided in said Paragraph 5(a) to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Datebe effective.

Appears in 2 contracts

Sources: Lease Agreement (Genesis Direct Inc), Lease Agreement (Genesis Direct Inc)

Expansion. Effective on (a) Subject and as subordinate to any pre-existing rights of December 1, 2017 third parties previously granted by Master Landlord to occupy the Offer Space following expiration of the Master Lease (and Sublandlord hereby represents it has no knowledge of the existence of any such date being the -Expansion Commencement Date”rights), and provided no Event of Default then exists, Sublandlord shall, prior to offering the same to any other party, first offer (the “Right of First Offer”) to sublease to Subtenant all, and not less than all, of any portion of the Premises shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 located on the eighth (8th) floor of the Building (the “Expansion Offer Space”)) from time to time when such Offer Space becomes available. Such offer shall be in writing and shall specify the sublease terms for the Offer Space, being more fully shown including the rent to be paid for the Offer Space and described the date on which the floor plan attached hereto Offer Space shall be included as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with of the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant Sublease Premises (the “Existing TenantOffer Notice) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017). Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten Within five (105) business days after its receipt from Landlord. Failure of Landlord Sublandlord delivers to send any such certificate Subtenant the Offer Notice, Subtenant shall have no effect notify Sublandlord in writing whether Subtenant elects to lease the entire Offer Space on the Expansion Commencement Date. In the event there is any delay terms set forth in the delivery Offer Notice. If Subtenant timely elects to sublease the Offer Space, then Sublandlord and Subtenant shall execute an amendment to this Sublease, effective as of the Expansion date the Offer Space is to Tenant be included as part of the Sublease Premises, on the terms set forth in the Offer Notice and, to the extent not inconsistent with the Offer Notice terms, the terms of this Sublease (and Subtenant’s Proportionate Share, the Security Deposit, and the parking spaces to be rented pursuant to the Basic Sublease Information section, shall be equitably and proportionately increased in proportion to the increase in the rentable square footage of the Sublease Premises); however, the expansion of this Sublease to include the Offer Space as contemplated by this Section 24 shall be conditioned on Master Landlord’s prior written consent, and Subtenant shall accept the Offer Space in an “AS-IS” condition and Sublandlord shall not provide to Subtenant any allowances (e.g., moving allowance, construction allowance, and the like) or other subtenant inducements (including, without limitation, due to the Existing Tenant holding over any rent credits or abatements) unless otherwise specifically provided in the Expansion Space past Offer Notice. (b) If Subtenant fails or is unable to timely exercise the expiration Right of its lease)First Offer, then this the Right of First Amendment Offer shall not be void or voidablelapse, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy time being of the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent essence with respect to the Expansion exercise thereof, and Sublandlord may, in its sole discretion, terminate the portion of the Master Lease respecting the Offer Space or sublease all or a portion of the Offer Space to third parties on such terms as Sublandlord may elect; provided that in the event Sublandlord retains such Offer Space and subsequently elects to re-offer it for sublease, Sublandlord will again offer such space to Subtenant pursuant to this Section 24. Subtenant may not exercise the Right of First Offer if an Event of Default exists or Subtenant is not then subleasing the entire Sublease Premises. In no event shall Sublandlord be obligated to pay a commission with respect to any space subleased by Subtenant under this Section 24, and in the event Subtenant engages a broker to act on its behalf in connection with its lease of the Offer Space, Subtenant will be responsible for the payment of any commission owed to the broker so engaged by Subtenant. (c) Notwithstanding anything to the contrary contained in this Section 24, the Right of First Offer shall commence on terminate and be of no further force or effect if (a) the Expansion Commencement Date.Master Lease or Sublandlord’s right to possession of the Offer Space is terminated, (b) this Sublease or Subtenant’s right to possession of the Subleases Premises is terminated, or (c) there would, at the time of the execution of the amendment adding the Offer Space to this Sublease, be an Event of Default, or, at any time, there has been more than one (1)

Appears in 2 contracts

Sources: Sublease (Cascadian Therapeutics, Inc.), Sublease (Cti Biopharma Corp)

Expansion. Effective on and as If, at any time during the Term of December 1, 2017 (such date being the -Expansion Commencement Date”), the Premises shall be expanded this Lease Agreement after Tenant notifies Landlord in writing that Tenant desires to include an lease additional 7,389 square feet of rentable area designated as Suite 100 of the Building space from Landlord (the “Expansion SpaceNotice”), and subject to: (a) Tenant not being in default beyond any applicable cure period at the time of exercise nor Tenant ever being in default (irrespective of the fact that Tenant cured such default) of any monetary obligations under this Lease Agreement more fully shown than twice during the Term and described such monetary defaults aggregate in excess of $ ; (b) Tenant occupying not less than one hundred (100%) percent of the Premises originally demised hereunder; (c) the rights of other existing tenants in the Building, which rights predate this Lease Agreement; and (d) there being at least thirty-six (36) months remaining of the Extended Term; Landlord shall respond/reply to Tenant with regard to the any space in the Building which Landlord expects to become vacant and available for lease, and Landlord shall propose to Tenant the basic economic terms upon which Landlord would be prepared to entertain the negotiation of a new lease agreement for such space (on all of the floor plan attached hereto same terms and conditions as Exhibit A and made a part hereof for all purposesare set forth in this Lease Agreement, except as otherwise specified by Landlord which other terms, however, shall be substantially similar to those Landlord intends to offer to third party prospects) or an amendment to this Lease Agreement with which the parties would add such space to the description of the “Premises,” in either case for a term that is which would be coterminous with this Lease Agreement unless otherwise specified by Landlord, and which economic terms shall include the Lease Term. Tenant acknowledges estimated date that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Datespace shall be available for delivery, the Expansion Commencement Date, rent and ▇▇▇▇▇▇’s obligation the tenant allowance (if any) to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same be furnished to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which whereupon Tenant shall acknowledge by executing a copy and returning it to Landlord within ten have five (105) business days next following Landlord’s delivery of such notice within which to accept such terms, time being of the essence. Should Tenant accept such terms as are specified by Landlord, the parties shall negotiate the terms of a new lease agreement, or an amendment to this Lease Agreement, to memorialize their agreement. In the absence of any further agreement by the parties, such additional space shall be delivered in “AS-IS” condition, and Rent for such additional space shall commence on that date which is the earlier of: (x) Tenant’s occupancy thereof, and (y) five (5) days after its receipt from Landlord delivers such additional space to Tenant free of other tenants and occupants. Tenant’s rights hereunder shall not include the right to lease less than all of the space identified in Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date’s notice. In the event there is any delay in the delivery Landlord notifies Tenant of the Expansion Space to space and Tenant (includingrejects such offer under this Article, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration Landlord’s obligations under this Article shall terminate and this Article shall be of its lease), then this First Amendment shall not be void no further force or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Date.effect,

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (Alliance Data Systems Corp)

Expansion. Effective on and as of December 1, 2017 the Expansion Effective Date (such date being the -Expansion Commencement Date”defined below), the Premises shall be expanded to include an additional 7,389 Premises, as defined in the Lease, is increased from 4,661 square feet of rentable area designated as Suite 100 Rentable Area on the 3rd floor(s) to 8,075 square feet of Rentable Area on the 3rd floor by the addition of the Building (the “Expansion Space”), being more fully shown and described on from and after the floor plan attached hereto Expansion Effective Date, the Original Premises and the Expansion Space, collectively, shall be deemed the Premises, as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with defined in the Lease. The Term of the Lease Term. Tenant acknowledges that for the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond shall commence on the Expansion Commencement DateEffective Date and end on the Extended Termination Date (as hereinafter defined). If such Existing Tenant holds over in the The Expansion Space beyond is subject to all the Expansion Commencement Dateterms and conditions of the Lease except as expressly modified herein and except that Tenant shall not be entitled to receive any allowances, abatements or other financial concessions granted with respect to the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent Original Premises unless such concessions are expressly provided for herein with respect to the Expansion Space. A. The “Expansion Effective Date” shall be the later to occur of (i) May 1, shall nonetheless still commence on 2020 ("Target Expansion Effective Date"), and (ii) the Expansion Commencement Date. Following such Existing Tenant surrendering date upon which the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten ’s Work (10as described in Exhibit B hereto) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such datebeen substantially completed; provided, however, that if Landlord shall be delayed in substantially completing the Landlord’s Work in the Expansion Commencement Space as a result of the occurrence of a Tenant Delay (defined below), then, for purposes of determining the Expansion Effective Date, and the date of substantial completion shall be deemed to be the day that said Landlord’s Work would have been substantially completed absent any such Tenant Delay(s). A “Tenant Delay” means any act or omission of Tenant or its agents, employees, vendors or contractors that actually delays substantial completion of the Landlord’s Work (provided Landlord shall only be entitled to claim an extension for a Tenant Delay if Landlord gives Tenant notice of such Tenant Delay within 2 days after the commencement of such delay). The Expansion Space shall be deemed to be substantially completed on the date that Landlord’s architect certifies that all Landlord’s Work has been performed (or would have been performed absent any Tenant Delays), other than minor details of construction, mechanical adjustment or any other matter, the noncompletion of which does not materially interfere with Tenant’s obligation to commence paying rent with respect to 's use of the Expansion Space. The adjustment of the Expansion Effective Date and, shall commence accordingly, the postponement of Tenant's obligation to pay rent on the Expansion Commencement Space shall be Tenant's sole remedy and shall constitute full settlement of all claims that Tenant might otherwise have against Landlord by reason of the Expansion Space not being ready for occupancy by Tenant on the Target Expansion Effective Date.

Appears in 2 contracts

Sources: Office Lease (Kronos Bio, Inc.), Office Lease (Kronos Bio, Inc.)

Expansion. Effective on and as of December 1, 2017 the Expansion Commencement Date (such date being the -Expansion Commencement Date”defined below), the Premises shall be expanded Landlord hereby agrees to include an additional 7,389 lease to Tenant and Tenant hereby agrees to lease from Landlord 5,362 square feet of rentable area designated as Suite 100 of the Building Rentable Floor Area (the “Expansion SpaceAdditional Premises” the Existing Promises and the Additional Premises are collectively, referred to as the “Premises” or the “Expanded Premises), being more fully ) as shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing A. Tenant’s lease of the Additional Premises shall be on all of the same terms and conditions as the Existing Premises, except as otherwise specified herein. Effective as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, Additional Premises shall be made a part of the Premises under the Lease and ▇▇▇▇▇▇’s obligation Tenant shall be leasing a total of 24,125 square feet of Rentable Floor Area in the Building. Landlord may elect to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on send Tenant documentation setting forth the Expansion Commencement Date. Following such Existing Tenant surrendering Date and other matters in the form attached as Exhibit D (a “Confirmation of Expansion Space to LandlordCommencement”), Landlord which shall thereafter deliver the same be binding subject to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and ’s right to deliver to Tenant Landlord a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord written notice specifying Tenant’s objections within ten (10) business days after its of Tenant’s receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Confirmation of Expansion Space Commencement. The foregoing shall not relieve Landlord of the obligation to complete punch list items of Landlord’s Initial Construction. Landlord and Tenant (including, without limitation, due acknowledge that the Initial Term applicable to the Existing Tenant holding over in Expanded Premises is scheduled to expire on June 30, 2019 (subject to extension pursuant to the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, howeverLease, the Expansion Commencement “Term Expiration Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Date”).

Appears in 2 contracts

Sources: Consent to Sublease (Biofrontera AG), Consent to Sublease (Biofrontera AG)

Expansion. Effective on and as of December 1, 2017 the Eleventh Expansion Space Commencement Date (such date being the -Expansion Commencement Date”hereinafter defined), the Premises shall be expanded Lease is hereby modified and amended to include an additional 7,389 approximately 17,376 rentable square feet of rentable area designated as Suite 100 of the Building (the “Expansion Space”)feet, being more fully shown and described located on the 12th floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇ ▇▇▇▇▇▇’s obligation to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy as shown on Exhibit A attached hereto (the "Eleventh Expansion Space"). The rentable square footage of the Eleventh Expansion Space through December 15is subject to final measurement and adjustment based on the Construction Documents (defined in the Work Letter attached as Exhibit B), 2017in accordance with 1996 BOMA measurement standards (ANSI/BOMA 265.1- 1996) for multi-tenant buildings using the Building standard Common Area factor for multi-tenant floors in the Building. If such measurement results in a change in the rentable square footage of the Eleventh Expansion Space, and Landlord hereby consents the Basic Rental Tenant's proportionate share, the parking permits made available to Tenant permitting Existing Tenant to remain and any other concessions based on the rentable square footage of the Eleventh Expansion Space through such date; providedshall be adjusted accordingly. Tenant shall, howeverwithin 15 days after Landlord's written request, execute and return a lease amendment effective as of the Eleventh Expansion Space Commencement Date, and Tenant’s obligation to commence paying rent confirming the necessary adjustments. As used herein, the term "Eleventh Expansion Space Commencement Date" shall be the earliest of (1) the first business day after the date on which the Landlord Work (defined in the Work Letter attached as Exhibit B) with respect to the Eleventh Expansion SpaceSpace is Substantially Complete, shall commence as determined pursuant to the Work Letter, or (2) the date on which the Landlord Work with respect to the Eleventh Expansion Commencement DateSpace would have been Substantially Complete but for Tenant Delay, as such term is defined in the Work Letter, or (3) the date Tenant takes possession of any part of the Eleventh Expansion Space for purposes of conducting business therein. Tenant hereby acknowledges and agrees that the Eleventh Expansion Space is leased by Tenant subject to all terms and conditions of the Lease, as modified by this Fifteenth Modification.

Appears in 1 contract

Sources: Office Lease Modification (Westwood Holdings Group Inc)

Expansion. Effective on and as of December July 1, 2017 2025 (such date being the -Expansion Commencement “Target Expansion Effective Date”), the combined Existing Premises and the Expansion Space, shall be expanded to include an additional 7,389 square feet of rentable area designated deemed the “Premises”, as Suite 100 of defined in the Building Amended Lease (the “Expansion Space”), being more fully shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that date upon which the Expansion Space is currently occupied so added to the “Premises” is referred to herein as the “Expansion Effective Date”). Tenant’s leasing of the Expansion Space shall commence on the Expansion Effective Date and end on the Extended Term Expiration Date (as hereinafter defined); provided, however, if Landlord, for any reason whatsoever, cannot deliver possession of the Expansion Space to Tenant in the condition required hereunder (i.e., broom clean and free of Landlord’s or any prior occupant’s property) by an existing tenant the Target Expansion Effective Date, this Eleventh Amendment will not be void or voidable and Landlord will not be liable to Tenant for any resulting loss or damage, but (a) the “Premises” will not be deemed to include the Expansion Space, and the Expansion Effective Date will not be deemed to occur, until Landlord delivers the Expansion Space to Tenant in the condition required hereunder and (b) if for any reason other than due to the acts or omissions of Tenant Landlord fails to deliver the Expansion Space to Tenant in the condition required hereunder by August 1, 2025 (the “Existing TenantOutside Expansion Space Delivery Date) and that Landlord and such Existing ), then Tenant are concurrently herewith entering into an early termination agreement will be entitled to terminate such Existing Tenant’s lease as a day-for-day abatement of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in Base Rent payable for the Expansion Space beyond for each day after the Outside Expansion Space Delivery Date that Landlord fails to so deliver possession of the Expansion Commencement Date, Space to Tenant; said abatement to be applied immediately following the Expansion Commencement DateSpace free rent period described in Section 4(b) below. Tenant’s leasing of the Expansion Space shall be subject to all the terms and conditions of the Amended Lease except as expressly modified herein and except that Tenant shall not be entitled to receive any allowances, and ▇▇▇▇▇▇’s obligation abatements or other financial concessions granted with respect to commence paying rent the Existing Premises unless such concessions are expressly provided for herein with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Date.

Appears in 1 contract

Sources: Office Lease (Airbnb, Inc.)

Expansion. Effective on (a) Landlord hereby leases to Tenant, and as of December 1, 2017 (such date being the -Expansion Commencement Date”)Tenant hereby leases from Landlord, the Expansion Premises on the terms and conditions of the Lease, as modified hereby; accordingly, from and after the Expansion Date, the term "Premises" shall refer collectively to the Existing Premises and the Expansion Premises, and, except as otherwise provided herein, Tenant's Proportionate Share shall be expanded increased to include an additional 7,389 10.41%, which is the percentage obtained by dividing the number of square feet in the 1100 Premises (as defined in the Lease) and the Expansion Premises (63,760) by the number of rentable area designated as Suite 100 of square feet in the Building (612,462). Notwithstanding anything herein to the contrary, per Section 3(e) of the Lease, Tenant is not responsible for paying Operating Expenses for Suite 380 (Expansion Storage Space”). Pursuant to the Lease, being more fully shown Suite 380 shall not be included in the Tenant’s Proportionate Share. Tenant accepts the Expansion Premises in their "AS-IS" condition and described Landlord shall not be required to perform any demolition work or tenant finish-work therein or to provide any allowances therefor, except as expressly set forth in Exhibit B to this Amendment; however, Landlord shall deliver the base mechanical, electrical, plumbing, and HVAC systems serving the Expansion Premises in good working order. Landlord and Tenant stipulate that the number of square feet in the Existing Premises, the Expansion Premises, and the Building are correct. Notwithstanding anything herein to the contrary, Landlord shall measure the Expansion Premises in accordance with the BOMA Method (as defined in the Lease), which shall be subject to certification by Tenant at its sole cost and expense on or before the Expansion Date which may result in a further amendment to this Lease to certify the size of the Expansion Premises. (b) The Lease Term for the Expansion Premises shall begin on the floor plan attached hereto as Exhibit A Expansion Date and made a part hereof for all purposes, for a term that is coterminous shall expire co-terminously with the Lease Term. Tenant acknowledges that expiration date with respect to the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease Premises, unless sooner terminated as of November 30, 2017. Tenant hereby waives any claims against Landlord provided in the event that such Existing Lease. As used herein, the "Expansion Date" means the earliest of (i) January 1, 2022, (ii) fifteen (15) days following the date on which the Tenant holds over Finish Work (as defined in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over Exhibit B hereto) in the Expansion Space beyond Premises is Substantially Completed (as defined in Exhibit B hereto), or (iii) fifteen (15) days following the date on which the Tenant Finish Work in the Expansion Commencement Premises would have been Substantially Completed but for the occurrence of any Tenant Delays (as defined in Exhibit B hereto). Anything to the contrary contained herein notwithstanding, Tenant may conduct business in the Expansions Premises fifteen (15) days prior to the Expansion Date, which period shall be referred to as the “Beneficial Occupancy Period”. During the Beneficial Occupancy Period, Tenant shall have the right to occupy and conduct business within the Expansion Commencement Premises with no obligation to pay Base Rent or Operating Expenses for the Expansion Premises. Tenant shall be responsible for paying its pro-rata share of Electricity Costs during the Beneficial Occupancy Period. (c) Within ten (10) days following the Expansion Date, Tenant shall execute and ▇▇▇▇▇▇’s obligation deliver to commence paying rent Landlord a letter confirming (i) the Expansion Date, (ii) that Tenant has accepted the Expansion Premises, and (iii) that Landlord has performed all of its obligations with respect to the Expansion SpacePremises (except for punch-list items specified in such letter); however, the failure of the parties to execute such letter shall not defer the Expansion Date or otherwise invalidate the Lease or this Amendment. (d) Provided that Tenant delivers to Landlord satisfactory proof that Tenant is carrying the insurance required by the Lease, Tenant may occupy the Expansion Premises up to sixty (60) days prior to the Expansion Date (the "Early Possession Date") to install Tenant’s furniture, fixtures, equipment, and voice and data cabling ("Early Possession"). The obligation to pay Base Rent and Tenant’s Proportionate Share of Operating Expenses for the Expansion Premises only shall be abated for the period from the Early Possession Date to the Expansion Date. Notwithstanding, Tenant shall not be required to pay its Proportionate Share of Electricity during the Early Possession period but shall pay electricity costs during the Beneficial Occupancy Period. All other terms of the Lease, however, including, but not limited to, the obligation to carry the insurance required by the Lease, shall nonetheless still commence be in effect during the Early Possession period. (e) As an accommodation to Tenant, Tenant shall have the exclusive right to use temporarily, and Landlord will provide to Tenant on a temporary basis, approximately 20,000 square feet in the Expansion Commencement Date. Following such Existing Tenant surrendering Centre for temporary storage of Tenant’s furniture, fixtures, and equipment (the Expansion Space to Landlord“Temporary Premises”), which Temporary Premises will be identified by Landlord shall thereafter deliver the same in writing to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver The Temporary Premises shall be made available to Tenant a certificate establishing the Expansion Commencement Datepromptly after June 21, which Tenant shall acknowledge by executing a copy 2021, on an “AS IS, WHERE IS” basis, and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is obligation to refurbish or make any delay improvements or alterations of any nature in the delivery Temporary Premises or provide any improvement allowance with respect thereto. Tenant's lease of the Expansion Space Temporary Premises shall be on and subject to all of the terms and conditions of the Lease, except that (i) Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void obligated pay Base Rent, Additional Rent or voidableElectrical Costs for the Temporary Premises, nor provided Tenant shall Landlord be liable responsible for paying the costs of any after- hours HVAC or other additional services pursuant to the Lease; (ii) Tenant for any loss shall have no right to renew or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy extend the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent Lease Term with respect to the Expansion SpaceTemporary Premises; (iii) Tenant shall not make any Alterations to the Temporary Premises without the consent of Landlord; (iv) Tenant shall be expressly prohibited from assigning or subleasing any or all of the Temporary Premises or any interest therein; (v) Tenant shall permit Landlord or its agents, at any time, with reasonable prior notice to Tenant or charge therefor to Landlord, to enter the Temporary Premises to exhibit the same to prospective tenants; and (vi) Tenant further agrees to cooperate with Landlord in connection with Landlord's exercise of Landlord's rights of entry under this Section 2(e). Tenant, at its sole cost and expense, will be responsible for obtaining telephone, cable and other services as needed for the operation of the Temporary Premises. Tenant's rights in this Section 2(e) to use the Temporary Premises shall commence on terminate on, and Tenant shall vacate the Expansion Commencement Date.Temporary Premises within ten

Appears in 1 contract

Sources: Office Lease (Hallmark Financial Services Inc)

Expansion. Effective on and as Provided that no Event of December 1Default then exists, 2017 Landlord agrees that upon receipt of an Expansion Request (such date being the -Expansion Commencement Date”)defined below) from Tenant, the Premises shall be expanded Landlord will use best efforts to include an additional 7,389 square feet of rentable area designated as Suite 100 of provide Tenant with expansion space within the Building and/or Complex (the “Expansion Space”), being more fully shown i.e., Landlord will promptly provide Tenant with a written list of “available space” for lease within the Building and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord elsewhere in the event Complex that such Existing Tenant holds over in meets the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over criteria set forth in the Expansion Space beyond Request. As used herein, an “Expansion Request” means a written request from Tenant, that includes at least the following information: (a) the requested size of the Expansion Commencement DateSpace, and (b) the date on which Tenant needs the Expansion Commencement DateSpace. As used herein, “available space” means space which is (i) not then subject to rights of third parties, including, without limitation, rights of first notice, expansion rights, extension rights and/or options to lease, and (ii) not then the subject of active negotiations for lease. Any expansion and/or relocation of the Premises resulting from an Expansion Request will be subject to the parties’ negotiation and execution of a lease amendment on terms mutually acceptable to both Landlord and Tenant; provided, however, that upon any such relocation (as opposed to an expansion) of the Premises, Tenant shall be released from all further obligations (except those obligations that expressly survive the expiration or earlier termination of this Lease) with regard to the original Premises. Landlord shall not be required to respond to more than one Expansion Request within any 6-month period. LANDLORD AND TENANT EXPRESSLY DISCLAIM ANY IMPLIED WARRANTY THAT THE PREMISES ARE SUITABLE FOR TENANT’S INTENDED COMMERCIAL PURPOSE, AND TENANT’S OBLIGATION TO PAY RENT HEREUNDER IS NOT DEPENDENT UPON THE CONDITION OF THE PREMISES OR THE PERFORMANCE BY LANDLORD OF ITS OBLIGATIONS HEREUNDER, AND, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN, TENANT SHALL CONTINUE TO PAY THE RENT, WITHOUT ABATEMENT, DEMAND, SETOFF OR DEDUCTION, NOTWITHSTANDING ANY BREACH BY LANDLORD OF ITS DUTIES OR OBLIGATIONS HEREUNDER, WHETHER EXPRESS OR IMPLIED. This Lease is executed on the respective dates set forth below, but for reference purposes, this Lease shall be dated as of the date first above written. If the execution date is left blank, this Lease shall be deemed executed as of the date first written above. LANDLORD: ▇▇▇▇▇▇ RTP, LLC, a Delaware limited liability company By: /s/ ▇▇▇▇▇▇’s obligation to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: Authorized Agent Execution Date: April 18, 20172018 TENANT: ▇▇▇▇▇▇▇▇ LABS, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; providedINC., howevera Delaware corporation By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Title: President & CEO Execution Date: April 17, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Date.2018

Appears in 1 contract

Sources: Lease Agreement (Shattuck Labs, Inc.)

Expansion. Effective on and as of December 1, 2017 SECTION 36.01. Tenant shall have the one-time option (such date being the -Expansion Commencement Date”)option, the "Expansion Option") to expand the Demised Premises (such expansion, the "Expansion") pursuant to and in accordance with the terms and conditions set forth below: (A) At the time of the exercise of the Expansion Option, no Event of Default shall then exist under the terms of this Lease and Tenant shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 in possession of the Building Demised Premises pursuant to the terms of this Lease; (B) Subject to the “Expansion Space”), being more fully shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as provisions of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement DateSection 36.03, the Expansion Commencement Date, shall be performed and ▇▇▇▇▇▇’s obligation completed at Tenant's sole cost and expense and Tenant shall pay any and all reasonable costs actually incurred by Landlord and paid to commence paying rent unaffiliated third parties for review and oversight of the construction work and documentation with respect to the Expansion Spaceincluding reasonable legal fees and costs. In addition, Tenant shall nonetheless still commence on be solely responsible for obtaining all permits, licenses and governmental approvals for the Expansion, including, without limitation, any and all zoning permits, variances and building permits (such permits, licenses and approvals, the "Consents"). Landlord will cooperate with Tenant's efforts to obtain Consents at no material cost to Landlord. Landlord makes no representations or warranties with respect to Tenant's ability to obtain any required Consents or Tenant's ability to construct all or any portion of the Expansion. Tenant's inability to obtain any Consents or to construct the Expansion Commencement Date. Following such Existing shall in no way effect this Lease; (C) Tenant surrendering shall exercise the Expansion Space Option, if at all, on or prior to JULY 31, 2016 by delivering to Landlord written notice of Tenant's intent to expand the Demised Premises, which notice shall be accompanied by (1) preliminary plans and specifications with respect to Expansion (which plans and specifications shall include the materials to be used in connection with the Expansion), (ii) in the event Tenant shall exercise the Expansion Option on or prior to JULY 31, 2006, Tenant's election with respect to the Landlord's Contribution (as defined in Section 36.03 below), (iii) in the event Tenant shall request to have Landlord make the Landlord's Contribution, audited financial statements of Tenant for Tenant's most recently completed fiscal year and certified financial statements for any completed fiscal quarters from and after the most recently completed fiscal year, and (iv) such other information as Landlord may request in its reasonable discretion; (D) Tenant's preliminary plans and specifications with respect to the Expansion shall be subject to the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed. Landlord must respond to submissions (i) as to the initial submission, within forty-five (45) days after Tenant's initial submission of a complete set of preliminary plans and specifications; and (ii) thereafter for all submissions within thirty (30) days after any submissions pertaining to any structural work or mechanical or electrical systems and within fifteen (15) days after any other submissions. Notwithstanding any of the foregoing to the contrary, Landlord may (i) withhold such consent in the event Landlord determines, in its reasonable discretion, that the Expansion, as depicted in such plans and specifications, will (a) impair the marketability or value of the Demised Premises, (b) impair the structural integrity or base building systems of the Demised Premises, or (c) violate any applicable law or (ii) delay such consent until Tenant reasonably provides Landlord with any information that Landlord may require with respect to the Expansion pursuant to Paragraph (C) above; (E) In the event Tenant shall request that Landlord make the Landlord's Contribution under Paragraph (C) above, Landlord shall thereafter deliver review and either approve or reject the financial statements required under Paragraph (C) above within thirty (30) days after receipt of the same. Landlord may reject such financial statements (in which case it shall not be required to pay the Landlord's Contribution,) only if it determines that Tenant's market capitalization, tangible net worth and earnings as depicted in such financial statements are not at least equivalent to Tenant's market capitalization, tangible net worth and earnings as of the date of this Amendment; in the event Landlord rejects the financial statements and thus does not agree to pay the Landlord's Contribution, Tenant may rescind its exercise of the Expansion Option within thirty (30) days after written notification from Landlord of its rejection of Tenant's financial statements and refusal to fund the Landlord's Contribution; (F) In the event Landlord approves the preliminary plans and specifications submitted in accordance with Paragraph (D) above, Tenant shall, prior to the commencement of the construction of the Expansion, submit to Landlord (i) final, stamped construction drawings and specifications with respect to the Expansion (and from and after the commencement of such construction, Tenant shall submit to Landlord any and all amendments, modifications and/or revisions to such drawings and specifications) for Landlord's approval, which shall not be unreasonably withheld, conditioned or delayed (provided that the same shall be substantially similar to the previously approved preliminary plans and specifications) and (ii) any building permits required for the Expansion. In addition, upon the commencement of Tenant. Upon 's construction of the Expansion, Tenant shall work diligently to complete the Expansion Commencement Date(a) in accordance with the approved drawings, Landlord may prepare plans and deliver specifications, (b) in accordance with any and all applicable laws, and (c) in a lien free, good and workmanlike manner within two hundred and seventy days (270) after receipt of the building permit, subject to Tenant extension as a certificate establishing the Expansion Commencement Date, which result of any Force Majeure. Tenant shall acknowledge by executing a copy and returning it reasonably document to Landlord within ten (10) business days after the occurrence of any Force Majeure event, the nature of the event, its receipt anticipated impact on the construction schedule and Tenant's plan to mitigate such delay. All work with respect to the Expansion shall be performed by licensed and insured contractors. Landlord hereby reserves the right, to be exercised in its reasonable discretion, to approve the general contractor and any subcontractors performing structural or mechanical work in connection with the Expansion; (G) Landlord shall have the right to inspect the progress of any and all work with respect to the Expansion; (H) The Expansion shall be deemed completed on the date (the "Expansion Completion Date") on which Tenant shall deliver to Landlord (i) a final certificate of occupancy for the Demised Premises comprising the Expansion (the "Expansion Premises") from the applicable governmental authority and (ii) a certificate from Tenant's licensed architect indicating that the Expansion Premises have been built in accordance with the construction drawings and specifications for the Expansion Premises previously submitted to and approved by Landlord. Failure of Landlord to send Without limiting any such certificate shall have no effect on other provisions set forth herein, from and after the Expansion Commencement Date. In Completion Date the event there is term the "Demised Premises" shall be deemed to include the Expansion Premises, provided that, notwithstanding any delay of the provisions of the Lease to the contrary (a) Landlord shall not be obligated to maintain any insurance with respect to the Expansion Premises except to the same extent Landlord insures the Demised Premises now (but with an increase in value to reflect the delivery addition of the Expansion Space Premises) and Tenant shall be obligated to Tenant (including, without limitation, due insure the Expansion Premises to the Existing same extent Tenant holding over in is obligated to insure the Expansion Space past the expiration of its lease)Demised Premises now, then this First Amendment (b) Landlord shall not be void obligated to maintain, or voidablerepair the Expansion Premises but in the event of a casualty it shall restore the Expansion Premises to the same extent Landlord restores the Demised Premises now, nor and (c) Tenant shall Landlord not be liable permitted to Tenant for any loss or damage resulting therefrom. ▇(1) ▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying or offset rent with respect to the Expansion SpacePremises except to the extent that any loss of rent is actually covered by rental income insurance maintained by Landlord for the Demised Premises (or to the extent the rental loss would have been covered had Landlord carried the rental loss insurance required under Section 8.02 of the Lease) or (2) terminate this Lease due to any casualty or condemnation affecting only the Expansion Premises regardless of whether such right shall exist with respect to the balance of the Demised Premises; however, in the event Tenant validly terminates the Lease for the balance of the Demised Premises pursuant to the terms of the Lease, Tenant shall also be required to terminate the Lease with regards to the Expansion Premises; (I) During any period of construction hereunder, Tenant shall maintain Builder's All-Risk Insurance in form and substance acceptable to Landlord in its reasonable discretion, which insurance shall be in an amount equal to the full replacement cost of the Expansion Premises; and (J) Within thirty (30) days of the Expansion Completion Date, (i) Tenant shall provide Landlord with (a) final lien waivers and affidavits from all materialmen, mechanics, suppliers, subcontractors, contractors or other parties providing labor or materials in connection with the Expansion, evidencing that such party has been paid in full with respect to any work it may have performed with respect to the Expansion and (b) a release of any existing mechanic's (or similar) liens against the Expansion Premises with respect to work done or materials provided in connection with the Expansion, which release shall be evidenced by the removal of any exceptions to Landlord's title policy relating to such liens and (ii) the parties shall execute an amendment to this Lease setting forth (a) the total square footage of the Demised Premises (to be determined in accordance with BOMA standards) and (b) the revised Basic Rent (to be determined in accordance with (1) Section 36.02 or Section 36.03 hereof, as applicable). SECTION 36.02. In the event Tenant exercises the Expansion Option, the annual Term Basic Rent due hereunder shall increase on the earlier to occur of (i) the date which is two hundred and seventy(270) days after Tenant shall receive a building permit with respect to the Expansion Premises or (ii) the Expansion Completion Date (such earlier date, the "Section 36.02 Rent Commencement Date"), by an amount equal to the product of $5.50 times the total rentable square footage area of the Expansion Premises, which total rentable square footage area shall be determined by Landlord based on (a) the actual size of the completed Expansion Premises, if and when completed or (b) until the Expansion Premises are completed, the size of the completed Expansion Premises as estimated in the latest drawings and specifications approved by Landlord with respect to the Expansion Premises. The annual Term Basic Rent for the Expansion Premises (as adjusted pursuant to Section 36.03 below) shall increase by five percent (5%) as of (1) the first day of the calendar month marking the fifth (5th) anniversary of the Section 36.02 Rent Commencement Date (such date, the "Section 36.02 Adjustment Date") and (2) each succeeding fifth (5th) anniversary of the Section 36.02 Adjustment Date during the Term. In the event such rental obligation shall commence prior to the Expansion Completion Date, Term Basic Rent shall be appropriately adjusted (both prospectively and retroactively) on the Expansion Completion Date. The Expansion Premises shall be measured in accordance with BOMA standards. SECTION 36.03. In the event Tenant exercises the Expansion Option on or prior to JULY 31, 2006, Landlord shall contribute, at Tenant's option and in accordance with the provisions of Section 36.01 (and subject to the conditions therein), an amount equal to $35.00 per rentable square foot of the completed Expansion Premises not to exceed Three Hundred Fifty Thousand and NO/100 Dollars ($350,000.00) (such amount, the "Landlord's Contribution"). Tenant shall make such election, if at all, at the same time Tenant exercises the Expansion Option pursuant to the provisions of Section 36.01(C) hereof. Upon such election, the annual Term Basic Rent otherwise payable under Section 36.02 above for the first ten thousand (10,000) rentable square feet of the Expansion Premises shall increase on the earlier to occur of (i) the first day of the first month following Landlord's payment of the Landlord Contribution or (ii) regardless of whether the Expansion Completion Date shall have occurred, July 31, 2006 (the earlier of such dates, the "Section 36.03 Rent Commencement Date") by an amount equal to the product of $4.20 times the total square footage area of the Expansion Premises not to exceed 10,000 square feet (as determined pursuant to the provisions of Section 36.03), which amount shall be in addition to any increase payable under Section 36.02 above (but only with respect to the first 10,000 square feet of the Expansion Premises) and shall become due and payable in accordance herewith regardless of whether the Term Basic Rent for such space has commenced under Section 36.

Appears in 1 contract

Sources: Lease Agreement (Enzon Pharmaceuticals Inc)

Expansion. Effective Provided that Tenant is not in default under the terms of this Lease after all applicable cure periods, at the time it gives notice of the proposed expansion date and at the expansion date, and provided Tenant is not in default beyond the applicable cure period on more than one occasion between the notice and as of December 1expansion date, 2017 (such date being Tenant shall have the -Expansion Commencement Date”), option to expand the Demised Premises shall be expanded to include into an additional 7,389 10,000 square feet of rentable area designated as Suite 100 Tenant's Rentable Area effective not later than the last day of the sixtieth (60th) month after the Rent Commencement Date ("Expansion Addition"). The Expansion Addition shall be located adjacent to the eastern portion of the Building (the “which is denominated on Exhibit "F" as "Expansion Space”), being more fully shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease TermArea". Tenant acknowledges that shall provide Landlord not less than nine (9) months prior written notice of its exercise of the right to expand and coincidentally therewith, its waiver of its right to contract within five years of the expansion pursuant to Paragraph 1(b) above. Landlord shall not construct the Expansion Space is currently occupied Addition unless requested by an existing tenant (the “Existing Tenant pursuant to this Paragraph 1(c). Landlord shall provide Tenant $3.50 per square foot of new Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over 's Rentable Area in the Expansion Space beyond Addition per Lease Year remaining in the Initial Term (prorated from the date Base Rent accrues on the Expansion Commencement Date, Addition through the end of the Initial Term) as an allowance ("Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent with respect Allowance") for tenant improvements to the Expansion Space, shall nonetheless still commence on the Addition ("Expansion Commencement DateTenant Improvements"). Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery The construction of the Expansion Space to Tenant (including, without limitation, due Addition shall be of comparable kind and quality to the Existing Tenant holding over in original Building shell prior to inclusion of the Expansion Space past Tenant Improvements. Landlord and Tenant shall approve the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant plans for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, Addition and Landlord hereby consents to Expansion Tenant permitting Existing Tenant to remain Improvements. To the extent the cost of the Expansion Space through such date; provided, howeverTenant Improvements exceed the Expansion Allowance, the Expansion Commencement Date, costs thereof shall be repaid as negotiated by Landlord and Tenant’s obligation to commence paying rent . Rent for the Expansion Addition shall be at the same Base Rent as for the Building and the term shall coincide with respect the "Initial Term" as hereinafter defined and all other terms of this Lease shall apply to the Expansion SpaceAddition, including the option for Extended Terms. The parties shall commence on execute an amendment to this Lease reflecting the addition of the Expansion Commencement DateAddition.

Appears in 1 contract

Sources: Lease Agreement (SBS Technologies Inc)

Expansion. Effective (a) Landlord shall use commercially reasonable efforts to deliver the Option B Expansion Premises to Tenant broom clean, free and clear of tenants or other occupants, in a structurally sound condition and otherwise "as-is" (the "Delivery Condition") on and as of December September 1, 2017 2018 (except for the Intrinsiq Space for which Landlord shall use commercially reasonable efforts to deliver such date being space to Tenant on October 1, 2018) (as applicable, the -Expansion "Estimated Expansion B Delivery Date"). The "Option B Expansion Premises Commencement Date”)" shall be the later of (i) October 1, 2018 and (ii) the date that the Option B Expansion Premises (or portion thereof) is delivered to Tenant in the Delivery Condition; provided that, in the event Tenant does not occupy any portion of the Option B Expansion Premises until all of the Option B Expansion Premises has been delivered to Tenant, then the Option B Expansion Premises Commencement Date shall be the later of (a) October 1, 2018 and (b) the date on which all of the Option B Expansion Premises has been delivered to Tenant. On the Option B Expansion Premises Commencement Date the "Premises" shall be deemed to be expanded to include an additional 7,389 square feet such space, subject to the terms of rentable area designated as Suite 100 this First Amendment. If Landlord fails to deliver any portion of the Building Option B Expansion Premises by the date that is ninety (90) days after the Estimated Expansion B Delivery Date for occupied space (Intrinsiq Space and Additional Expansion Space) and sixty (60) days after the Estimated Expansion B Delivery Date for unoccupied space (Vacant Space), being more fully shown and described on the floor plan attached hereto as Exhibit A and made in each case other than for Force Majeure, then Tenant shall receive a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant rent credit of one (the “Existing Tenant”1) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as day of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent Base Rent with respect to the applicable portion of the Option B Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space Premises for each day during which Landlord so failed to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the respective portion of the Option B Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay Premises in the Delivery Condition beyond such sixty (60) or ninety (90) day period, as applicable. If Landlord fails to deliver the Intrinsiq Space and/or the Vacant Space by February 28, 2019 or the Additional Expansion Space by May 31, 2019, for any reason, including, but not limited to, the holding over of any prior tenant, then Tenant may, as its sole remedy, at any time after such respective dates and prior to Landlord's actual delivery of the respective portion(s) of the Option B Expansion Space to Tenant Premises, cancel (including, without limitation, due to a) the Existing Tenant holding over in the Expansion Space past the expiration exercise of its lease), then option to lease the entire Option B Expansion Premises and (b) this First Amendment shall not be void or voidable, nor shall by giving to Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such datea written cancellation notice; provided, however, if Landlord delivers the respective portion(s) of the Option B Expansion Commencement DatePremises to Tenant on or before the date that is thirty (30) days after Landlord receives such cancellation notice, such cancellation notice shall be void and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Datewithout further force or effect.

Appears in 1 contract

Sources: Lease (Everbridge, Inc.)

Expansion. Effective (a) Commencing upon the Building One Expansion Premises Delivery Date the Sublandlord hereby sublease and demises to Subtenant and the Subtenant hereby subleases and accepts from Sublandlord, on the terms and conditions set forth herein, the Building One Expansion Premises. (b) Sublandlord shall deliver possession of that portion of the Building One Expansion Premises to Subtenant where the Sublandlord tenders vacant possession of the Building One Expansion Premises to Subtenant in accordance with the condition required by this Second Amendment. If the Building One Expansion Premises Delivery Date shall not have occurred within sixty (60) days following the anticipated Building One Expansion Premises Delivery Date for the Building One Expansion Premises (the “Building One Premises Delivery Deadline”), then Subtenant shall have the right, but not the obligation, in its sole and absolute discretion to immediately terminate this Second Amendment as of December 1it relates to such undelivered Building One Expansion Premises by providing written notice thereof to the Sublandlord within five (5) days following the Building One Premises Delivery Deadline. If this Second Amendment is terminated in accordance with this Section, 2017 then any Base Rent for the Building One Expansion Premises together with any other consideration previously delivered to Sublandlord by Subtenant related to the Building One Expansion Premises shall be promptly refunded to Subtenant by Sublandlord and Subtenant shall be fully released from any further obligations and liabilities under this Second Amendment. (such date being c) Prior to the -Expansion Commencement actual Building One Expansion Premises Delivery Date, commencing on the day Master Landlord Consent to this Second Amendment has been received (the “Building One Expansion Premises Early Access Date”), the Premises shall be expanded Sublandlord agrees where such space is vacant to include an additional 7,389 square feet of rentable area designated as Suite 100 of provide Subtenant, its employees, agents, consultants and contractors with unrestricted early access and early entry to the Building One Expansion Premises at no cost to Subtenant (the Expansion Space”), being more fully shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing TenantEarly Access”) in order that Subtenant may perform due diligence, design and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord planning activities in the event that such Existing Tenant holds over in the Premises beyond the Building One Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement DatePremises, the Expansion Commencement Dateincluding installation of furniture, trade fixtures and equipment and telephone and data communications systems and cabling, and ▇▇▇▇▇▇otherwise prepare the Building One Expansion Premises for occupancy by Subtenant and the operation of Subtenant’s obligation to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Datetherein.

Appears in 1 contract

Sources: Sublease (Ariba Inc)

Expansion. Effective Subject to the terms and conditions set forth in this Article, Landlord hereby grants to Tenant the right ("Tenant's Right") to be offered by Landlord during the period commencing on the date of this Lease and as expiring upon the earlier of December 1, 2017 any termination of this Lease or the date six (such date being 6) months prior to the -Expansion Commencement Date”), the Premises shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 expiration of the Building Initial Term ("Tenant's Right Period") the “Expansion Space”)opportunity to lease that approximate 6,844 rentable square foot sixth-floor space contiguous to the Premises, being as more fully shown and described particularly depicted on the floor plan attached hereto as Exhibit A "A", and made a part hereof for all purposesherein referred to, for a term that as "Tenant's Right Space". If, at any time during Tenant's Right Period while Tenant's Right is coterminous with the Lease Term. in effect and so long as Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that not in default hereunder, Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as another person or entity execute a letter of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent intent with respect to the Expansion Spaceleasing of all or any portion of Tenant's Right Space (as it may be designated by Landlord pursuant to the foregoing within a reasonable period of time after Landlord's receipt of such letter of intent, in which event such designation shall nonetheless still commence be deemed effective on the Expansion Commencement Date. Following day prior to such Existing Tenant surrendering the Expansion Space to receipt by Landlord), then Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver furnish to Tenant a certificate establishing copy of such executed letter of intent and a written notice (collectively, such letter of intent and written notice are herein referred to as "Landlord's Notice of Availability") of the Expansion Commencement Dateavailability of the entire space described therein (the "Available Space"), which notice shall specify the Applicable Terms. As used in this Article, "Applicable Terms" means the terms and conditions set forth in such letter of intent, except that the term of Tenant's lease of such Available Space shall be the longer of the term set forth in such letter of intent or the remaining Term. If Landlord gives Landlord's Notice of Availability to Tenant, then Tenant shall acknowledge by executing a copy and returning it give written notice to Landlord so that Landlord actually receives such written notice before 5:00 p.m., Atlanta, Georgia time, on the fifth (5th) business day after Tenant's receipt of Landlord's Notice of Availability ("Tenant's Notice Deadline") as to whether Tenant desires to offer to lease the entirety of the Available Space on the Applicable Terms. If Landlord receives prior to Tenant's Notice Deadline Tenant's written notice that Tenant does not desire to lease the entirety of the Available Space on the Applicable Terms, or if Landlord does notreceive prior to Tenant's Notice Deadline Tenant's written notice that Tenant desires to lease the entirety of the Available Space on the Applicable Terms, then, in either of such instances, Landlord's obligations under this Article shall automatically terminate and be of no further force or effect with respect to such Available Space. If Landlord receives prior to Tenant's Notice Deadline Tenant's written notice that Tenant desires to lease the entirety of the Available Space on the Applicable Terms, then Landlord shall cause to be given to Tenant a written amendment to this Lease for the leasing of the Available Space on the Applicable Terms. If Tenant does not within ten five (105) business days after its Tenant's receipt from of such written amendment execute and deliver such written amendment to Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitationmodification thereto, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease)so that Landlord actually receives such executed written amendment within such five-business-day period, then Landlord's obligations under this First Amendment Article shall not automatically terminate and be void of no further force or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent effect with respect to such Available Space. In no event shall Tenant's Right apply to any extension or renewal of the Expansion term of a lease with respect to all or any portion of Tenant's Right Space, shall commence . The purpose of this Article is to provide notice to Tenant so that Tenant may be in a position to offer to lease the applicable space on the Expansion Commencement Datea competitive basis with others.

Appears in 1 contract

Sources: Lease Agreement (Viryanet LTD)

Expansion. Effective on and as of December 1, 2017 (such date being the -Expansion Commencement Date”Fourth Expansion Effective Date as hereinafter defined), the Premises shall be expanded to include an additional 7,389 Premises, as defined in the Lease, is increased from 17,513 rentable square feet of on the fourth (4th) floor to 28,805 rentable area designated as Suite 100 square feet on the fourth (4th) and fifth (5th) floors by the addition of the Building (the “Fourth Expansion Space”), being more fully shown and described on from and after the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Fourth Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Effective Date, the Original Premises and the Fourth Expansion Commencement Space, collectively, shall be deemed the Premises, as defined in the Lease. The lease term for the Fourth Expansion Space shall commence on the Fourth Expansion Effective Date and end on the Extended Termination Date. Tenant's occupancy of the Fourth Expansion Space and Tenant's occupancy of the Original Premises during the Extended Term are subject to all the terms and conditions of the Lease except as expressly modified herein and except that Tenant shall not be entitled to receive any allowances, and ▇▇▇▇▇▇’s obligation to commence paying rent abatements or other financial concessions or economic incentives previously granted with respect to the Original Premises unless such concessions are expressly provided for herein. A. The Fourth Expansion SpaceEffective Date shall be the day that is sixty (60) days after mutual execution of this Amendment by Landlord and Tenant (sixty [60] days after mutual execution of this Amendment by Landlord and Tenant is currently estimated to be June 15, 1998, which is referred to herein as the "Target Fourth Expansion Effective Date"). B. The Fourth Expansion Effective Date shall nonetheless still commence on be delayed only as to such portion thereof not already occupied by Tenant to the Expansion Commencement Date. Following such Existing Tenant surrendering extent that Landlord fails to deliver possession of the Fourth Expansion Space to Landlordfor any reason, Landlord shall thereafter deliver the same to Tenantincluding but not limited to, holding over by prior occupants. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any Any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Fourth Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment Effective Date shall not be void or voidable, nor shall subject Landlord be liable to Tenant any liability for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy If the Fourth Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, howeverEffective Date is delayed, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, Extended Termination Date (as hereinafter defined) shall commence on the Expansion Commencement Datenot be similarly extended.

Appears in 1 contract

Sources: Sublease Agreement (Ritz Interactive, Inc.)

Expansion. Effective on and as of December 1, 2017 (such date being The "Premises" leased by Tenant under the -Expansion Commencement Date”), the Premises Lease shall be expanded and redefined to include an additional 7,389 the 35th Floor Expansion Space for the three (3) year period commencing upon the 35th Floor Commencement Date (as defined below) and expiring upon the 35th Floor Expiration Date (as defined below). The 35th Floor Expansion Space shall be leased on the same terms and conditions set forth in the Lease, subject to the modifications set forth in this Fourth Amendment. Landlord and Tenant hereby agree and have verified that the rentable square feet of rentable area designated the 35th Floor Expansion Space (as Suite 100 set forth in Recital F above) has been calculated in accordance with 1996 BOMA, and is not subject to adjustment or re-measurement by Landlord or Tenant. Notwithstanding the expansion and redefinition of the Building Premises to include the 35th Floor Expansion Space as provided herein above or the Second Amendment Expansion Space pursuant to the Second Amendment: (i) the provisions of Sections 4.3.4 and 14.7 of the Original Lease shall not be applicable to the 35th Floor Expansion Space or the Second Amendment Expansion Space”), being more fully shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with ; (ii) Tenant shall not have any right to terminate the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”as amended hereby) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent with respect to the entire Premises pursuant to Sections 11.2, 13.1 or 19.7.2 of the Original Lease (and Landlord shall not have such termination right with respect to the entire Premises pursuant to Sections 11.2 or 13.1 of the Original Lease) in the event of any casualty damage, condemnation or Abatement Event, respectively, that pertains only to the 35th Floor Expansion Space and/or the Second Amendment Expansion Space, but each party shall nonetheless still commence on retain their respective termination rights to terminate the Expansion Commencement Date. Following such Existing Tenant surrendering Lease (as amended hereby) as to either the 35th Floor Expansion Space and/or the Second Amendment Expansion Space, only, if and to Landlordthe extent such casualty damage, condemnation or Abatement Event affects such applicable space and otherwise satisfies the requirements for termination as set forth in Sections 11.2, 13.1 and/or 19.7.2, respectively, of the Original Lease; (iii) the Permitted Use for the 35th Floor Expansion Space and the Second Amendment to Expansion Space shall be limited to Office Space Permitted Use, only; and (iv) Tenant shall not be entitled to exercise (A) Tenant's options to renew the Lease Term pursuant to Section 2.2 of the Original Lease with respect to the 35th Floor Expansion Space or the Second Amendment Expansion Space, or (B) Tenant's option to terminate the Lease pursuant to Section 2.4 of the Original Lease with respect to the 35th Floor Expansion Space or the Second Amendment Expansion Space, it being understood that such options to renew and terminate shall not apply thereto; however, the 3Sth Floor Expansion Space and the Second Amendment Expansion Space shall each be subject to Tenant's right of first offer 866683.06/LAI84321-00047/8-11-10/nng/dbs -2- UNION BANK PLAZA[Union Bank of California] set forth after the first three (3) sentences of Section 1.5 of the Original Lease (i.e., Tenant shall have no right to deliver to Landlord a Request Notice and Landlord shall thereafter deliver the same have no obligation to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent Response Notice with respect to the 35th Floor Expansion Space or the Second Amendment Expansion Space), and if Tenant leases the 35th Floor Expansion Space or the Second Amendment Expansion Space as First Offer Space pursuant to such provisions of Section 1.5 of the Original Lease, then such applicable First Offer Space shall commence on be subject to such options to renew and terminate to the Expansion Commencement Dateextent provided in Sections 1.5, 2.2 and/or 2.4 of the Original Lease (as applicable).

Appears in 1 contract

Sources: Office/Retail Lease (KBS Real Estate Investment Trust II, Inc.)

Expansion. Effective on and as of December 1, 2017 (such date being A. Tenant has the -Expansion Commencement Date”), right to expand the Premises shall be expanded to include an additional 7,389 approximately 14,437 rentable square feet of rentable area designated as Suite 100 on the second floor of the Building (the “Expansion SpaceArea”) that is currently occupied by EURO RSCG Direct Response, LLC (“EURO”). Landlord has been advised EURO intends to vacate the Expansion Area on or about December 31, being more 2012. Landlord will notify Tenant immediately upon Landlord’s knowledge of the specific date that EURO will vacate the Expansion Area. Tenant acknowledges EURO is vacating the Expansion Area specifically to accommodate Tenant’s proposed expansion. Landlord and Tenant shall equally divide EURO’s relocation expenses, however, in no event shall Landlord’s share of such relocation expenses exceed Fifty Thousand Dollars ($50,000.00). Landlord shall pay EURO’s total relocation expenses and Tenant shall reimburse Landlord for Tenant’s share, plus any amount over $100,000.00, within thirty (30) business days of Landlord’s invoice. B. Landlord shall provide Tenant with a Tenant Improvement Reimbursement Allowance equal to Six Dollars per square foot, per year ($6.00/RSF/YR) of the Term for the Expansion Area. Tenant may also use up to all of the Space Planning Allowance amount for the Expansion Area. C. The Term for the Expansion Area and Landlord’s obligation to provide the allowance stated in Section 6 (B) above shall commence sixty (60) days following Landlord’s delivery (but not earlier than March 1, 2013) and Tenant’s possession of the Expansion Area and shall be at the same per-square-foot rate as the Base Rent in effect for the Premises as it existed prior to the addition of the Expansion Area. Landlord’s delivery will be deemed to have occurred after (i) EURO has fully shown vacated the Expansion Area, (ii) Landlord has cleaned and described on prepared the floor plan attached hereto Expansion Area for Tenant’s possession and (iii) notified Tenant that the Expansion Area is available to Tenant. D. Tenant may, at Tenant’s sole cost and expense, subject to the prior written approval of the design and placement by Landlord, install an interior stairway connecting the second and third floors of the Building. The provisions of Section 7 of the Lease shall govern Tenant’s installation of any interior stairway. Tenant shall not be required to remove the stairway upon expiration of the Lease. E. In the event Tenant takes the Expansion Space, Tenant shall receive a proportionate increase in the number of parking spaces provided to Tenant as Exhibit A defined in the Lease. F. Upon Landlord’s delivery of the Expansion Area to Tenant, Landlord and Tenant shall execute an amendment to the Lease to include the Expansion Area as part of the Premises and appropriate adjustments shall be made a part hereof for all purposesto the Lease in connection with the increase in square footage of the Premises. All terms and conditions of the Lease shall apply to the Expansion Area, for a term that is coterminous with including, but not limited to the duration of the Lease Term. Tenant acknowledges that . G. Tenant’s right to the Expansion Space is currently occupied by an existing tenant (subject to and contingent upon EURO surrendering and vacating the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017same in a timely manner. Tenant hereby waives any claims against Landlord in In the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation EURO fails to commence paying rent with respect to surrender or vacate the Expansion Space, Landlord shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering have no obligation to deliver the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver Second Amendment to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Date.Lease Jive Software

Appears in 1 contract

Sources: Lease Agreement (Jive Software, Inc.)

Expansion. Effective on Paragraph 1 of Section 8.13A of Addendum No. 2 attached to the Lease is hereby deleted in its entirety and as of December 1, 2017 replaced with the following: (such date being the -Expansion Commencement Date”), the Premises shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 of the Building a) The plans and specifications (the “Expansion SpacePlans and Specifications), being more fully shown and described on ) for the floor plan Additional Improvements are attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied as Exhibit B. The Plans and Specifications detail certain work to be completed by an existing tenant Landlord (the Existing TenantLandlord’s Work”) and that certain work to be completed by Tenant (“Tenant’s Work”). Promptly following the execution hereof, Landlord shall commence Landlord’s Work and diligently pursue the same to completion. Landlord’s Work shall be completed at the sole cost and expense of Landlord, except for any change orders requested by Tenant as provided below. Landlord shall request its contractor to take all reasonable precautions to avoid any material interference with Tenant’s operations at the Demised Premises. (b) Upon completion of the construction of Landlord’s Work, Landlord shall assign to Tenant any warranties or guarantees which Landlord received with respect to Landlord’s Work, and Tenant shall look solely to such warranties or guarantees if there are any defects in Landlord’s Work. Upon completion of Tenant’s Work, Tenant shall assign to Landlord all warranties or guarantees which Tenant received with respect to Tenant’s Work. The foregoing assignments shall be partial assignments and shall not preclude Landlord and Tenant from continuing to enforce such Existing Tenant are concurrently herewith entering into an early termination agreement warranties or guaranties in their own name with respect to terminate such Existing Landlord’s Work and Tenant’s lease as of November 30Work, 2017. respectively. (c) Tenant hereby waives shall be solely responsible for the cost and expense to complete Tenant’s Work, and Tenant shall indemnify and hold Landlord harmless from any claims and all liabilities, liens, claims, damages or obligations (including reasonable attorneys’ fees) which are incurred by or asserted against Landlord as a result of or in connection with Tenant’s Work. In no event shall any delay in the event that such Existing Tenant holds over completion of Tenant’s Work result in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over a delay in the Expansion Space beyond the Expansion Commencement Date, as defined below. Landlord shall indemnify and hold Tenant harmless from any and all liabilities, liens, claims, damages or obligations (including reasonable attorneys’ fees) which are incurred by or asserted against Tenant as a result of or in connection with Landlord’s Work. (d) The commencement date of this Lease for the Additional Improvements (the “Expansion Commencement Date”) shall be upon the substantial completion of Landlord’s Work. Upon substantial completion of Landlord’s Work, Landlord and Tenant shall jointly prepare a punch list of defective or uncompleted items and Landlord shall diligently pursue completion of the punch list. Landlord shall use all reasonable efforts to substantially complete Landlord’s Work by July 31, 1996; subject to force majeure and delays caused by Tenant; provided, however, that Tenant’s sole remedy for failure to substantially complete Landlord’s Work by July 31, 1996 shall be to extend the Expansion Commencement Date until Landlord’s Work is substantially complete. From and after the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation Tenant shall be obligated to commence paying rent pay Basic Rent for the Additional Improvements in accordance with respect the schedule set forth below, all references in the Lease to the Expansion Space, “Building” shall nonetheless still commence specifically include the Additional Improvements and Tenant’s use and occupancy of the Additional Improvements shall be on the same terms and conditions as provided for in the Lease. All references in the Lease to the “Improvements” following the Expansion Commencement Date. Following such Existing Date shall be deemed to include the Additional Improvements. (e) If Tenant surrendering the Expansion Space desires any changes to Landlord’s Work (a “Change Order”), Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge be solely responsible for any increased costs associated with the Change Order, together with a fee equal to ten percent (10%) of the increased cost (collectively, the “Change Order Cost”) represented by executing a copy and returning it to the Change Order. Tenant shall pay Landlord the Change Order Cost within ten (10) business days after its receipt from Landlordfollowing written demand therefor and failure to do so shall constitute a monetary default under the Lease. Failure of Landlord to send If any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any Change Order causes a delay in the delivery substantial completion of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, howeverLandlord’s Work, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, Date shall commence occur on the date that Landlord’s Work would have been substantially completed but for the Change Order in question. (f) The Basic Rent for the Additional Improvements shall be as follows: Expansion Commencement DateDate - July 31, 1996 $ 124,750.00 $ 10,395.83 August 1, 1996 - July 31, 1997 127,245.00 10,603.75 August 1, 1997 - July 31, 1998 135,977.50 11,331.46 August 1, 1998 - July 31, 1999 139,969.50 11,664.13 August 1, 1999 - July 31, 2000 139,969.50 11,664.13 August 1, 2000 - July 31, 2001 146,955.50 12,246.29 August 1, 2001 - July 31, 2002 151,446.50 12,620.54 August 1, 2002 - July 31, 2003 155,937.50 12,994.79 August 1, 2003 - July 31, 2004 159,929.50 13,327.46 August 1, 2004 - July 31, 2005 165,418.50 13,784.88 August 1, 2005 - July 31, 2006 170,408.50 14,200.71 August 1, 2006 - July 31, 2007 175,398.50 14,616.54 August 1, 2007 - July 31, 2008 180,638.00 15,053.17 August 1, 2008 - July 31, 2009 186,127.00 15,510.58 August 1, 2009 - July 31, 2010 191,865.50 15,988.79 (g) The Basic Rent for the Additional Improvements shall be the amount set forth in the above table, regardless of the actual gross leasable area of the Additional Improvements.

Appears in 1 contract

Sources: Lease (Gc Net Lease Reit, Inc.)

Expansion. Effective on In addition to Tenant’s fixed growth into the Contiguous Space as described in the Lease, Tenant shall have the option to lease additional space within the Building, as follows: The Building will be designed, planned, and as approved for construction at a total capacity of December 1approximately 105,000 usable/rentable square feet. The space in the Building totaling approximately 30,000 usable/rentable square feet, 2017 (such date being adjacent to but not a part of the -Expansion Commencement Date”)Initial Premises and the Contiguous Space, the Premises shall be expanded referred to include an additional 7,389 square feet of rentable area designated herein as Suite 100 of the Building (the “Expansion Space”), being more fully ” as shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease TermB-2. Tenant acknowledges that shall have the first right to expand into the Expansion Space is currently occupied by an existing tenant (pursuant to the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing terms described below. Tenant’s right to lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond shall be ongoing; available to Tenant at any time throughout the Expansion Commencement Date, term of the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent with respect to Lease. In the event the Expansion Space, or any portion thereof, is unencumbered by lease to third party tenant(s), and Tenant provides written notice to Landlord on or prior to the last day of the second (2nd) year of the initial Term, indicating its desire to lease any portion of the then unencumbered Expansion Space, Tenant shall nonetheless still commence on have the Expansion Commencement Date. Following right to lease such Existing Tenant surrendering portion or all of the Expansion Space and the terms for such expansion by Tenant shall be the same as those for the Premises pursuant to Landlordthe Lease, including the Expiration Date of the Lease. Base Rent for such expansion space will be the then current Base Rent as stated in the Lease for the Premises (per rentable square foot), and the Improvement Allowance stated in the Lease will apply to the Expansion Space but will be prorated to reflect the then remaining term of the Lease. Landlord shall thereafter deliver be responsible for completion and payment of construction of the same to Tenant. Upon Base Building Conditions for the Expansion Commencement Date, Landlord may prepare and deliver Space as described in the Base Building Conditions attached to the Lease. Tenant a certificate establishing shall then utilize its applicable Improvement Allowance for construction of improvements within the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement DateSpace. In the event there is any delay in Tenant initiates expansion after the delivery second (2nd) year of the Expansion Space initial Term, the Base Rent for the expansion space shall be in Fair Market Rent, as such term is defined in Section 38 of the Lease, and shall be determined using the same method set forth in such section. The other terms for such expansion shall be subject to Tenant (includinggood faith negotiation between Landlord and Tenant, without limitationand shall include appropriate Improvement Allowances, due and other terms and concessions pursuant to the Existing then current commercial office market for like space, and may include negotiation of any applicable extension of the initial Lease Term desired by both parties at that time. Any expansion of the Premises during the last year of the initial Lease Term will require extension of the Lease for the entire Premises, subject to the determination of Base Rent during such extended term in accordance with Section 38 of the Lease. In the event Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall desires expansion space which cannot be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the reasonably accommodated in Expansion Space, Landlord agrees to use commercially reasonable efforts to provide such expansion space in other building(s) owned or controlled by Landlord within close proximity to the Building, including other building(s) in similar commercial office parks owned or controlled by Landlord. This may include good faith discussion and negotiations for construction of a new facility by Landlord for expansion or possibly for relocation of the entire Premises to a location acceptable to Tenant. Any such expansion into other building(s) will be subject to agreement by both parties in writing, to which neither party will be obligated, but for which both parties agree to discuss and negotiate in good faith. Any expansion by Tenant initiated during the first three (3) years of the initial Term shall commence on include a pro-rated cooperating brokerage commission to CRESA Partners, payable by Landlord. Any expansion by Tenant initiated after the Expansion Commencement Datefirst three (3) years of the initial Term shall include a cooperating brokerage commission to CRESA Partners, payable by Landlord, if Tenant engages CRESA for assistance with its expansion requirements at that time.

Appears in 1 contract

Sources: Lease Agreement (Inverness Medical Innovations Inc)

Expansion. Effective Provided and on the condition that there is no uncured default of Tenant then existing, Tenant shall have, during the period commencing on the date of this Lease and as ending on the expiration of December 1, 2017 (such date being the -Expansion Commencement Date”)Refusal Period, the option from time to time and at any time on or before the expiration of the Refusal Period to expand the Demised Premises by written notice to Landlord (the "Expansion Notice") on or before the expiration of the Refusal Period. The space added to the Demised Premises ("Expansion Space") shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 all or any portion of the Building Refusal Space which has not previously been added to the Demised Premises pursuant to this Special Stipulation 8 or pursuant to Special Stipulation 2; provided, however, that the portion of the Refusal Space not leased by Tenant (the “Expansion Space”)and not leased to others as permitted by Special Stipulation 2) must constitute a commercially reasonable leaseable unit as determined by Landlord's architect; and further provided, being more fully shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposeshowever, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant must not include any space with respect to which Landlord has given Landlord's Notice (as defined in Special Stipulation 2). The Expansion Notice must identify the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017applicable Expansion Space. Tenant hereby waives any claims against Landlord in shall pay Base Rental for the event Expansion Space, commencing on the Rental Commencement 57 Date for the applicable Expansion Space, at the same rate per square foot of Rentable Floor Area applicable to the remainder of the Demised Premises, escalated annually at the same time and at the same percentages that such Existing Tenant holds over in rate is escalated for the Premises beyond remainder of the Expansion Commencement DateDemised Premises. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent with With respect to the Expansion Space, Tenant shall nonetheless still commence be obligated to pay Tenant's Forecast Additional Rental and Tenant's Additional Rental on the same basis as Tenant is obligated to make such payments with respect to the remainder of the Demised Premises. Accordingly, as of the Rental Commencement Date for the applicable Expansion Commencement Date. Following such Existing Tenant surrendering Space, the applicable Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due be added to the Existing Tenant holding over Demised Premises for all purposes in the determining Tenant's Forecast Additional Rental and Tenant's Additional Rental. The Construction Allowance and Additional Allowance shall apply to each such Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such dateSpace; provided, however, that if the Expansion remaining initial Term of this Lease is less than 84 months at the Rental Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Date for such Expansion Space, then such allowances shall commence on be multiplied by a fraction, the numerator of which is the number of whole months remaining in the initial Term of this Lease at the Rental Commencement Date for such Expansion Space, and the denominator of which is 84. The "Rental Commencement DateDate for the applicable Expansion Space" shall mean, unless otherwise agreed to, the earlier to occur of (i) the date upon which Tenant occupies such Expansion Space for the conduct of Tenant's business (for purposes hereof, Tenant shall not be deemed to be occupying such Expansion Space for the conduct of its business merely by moving furniture and equipment into such Expansion Space), or (ii) the date one hundred twenty (120) days after the date of the applicable Expansion Notice [unless the date of such Expansion Notice is prior to December 31, 1999, in which event the date under this item (ii) shall be the Rental Commencement Date for the Demised Premises].

Appears in 1 contract

Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)

Expansion. Effective Paragraph 41A of the Lease is hereby amended to read in its entirety as follows: A. Provided that Tenant is not in default under this Lease beyond any applicable notice and cure period at the time of exercise of the option then being exercised, Tenant shall have options to expand the Premises in each of calendar years 2008 and 2011 to include an additional 15,000 to 25,000 rentable square feet (which may be reduced as described below in this Paragraph 41 A) of space in the Building (each such space, an “Expansion Space” and the location in the Building being solely within the Landlord’s discretion so long as the entire square footage of the Expansion Space offered to Tenant constitutes a single block of space on one floor of the Building) for a term beginning on the Expansion Date (as hereinafter defined) and as ending on the Termination Date. No later than twelve (12) months prior to the date in each of December 1, 2017 2008 and 2011 in which Landlord anticipates an Expansion Space will be available for occupancy by Tenant (each such date being the -Expansion Commencement an “Anticipated Expansion Date”), Landlord shall provide Tenant notice thereof, setting forth the Premises shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 size and location of the Building (space covered by the option and the Anticipated Expansion Date for such Expansion Space”). Notwithstanding the foregoing, being more fully shown and described on if during the floor plan attached hereto as Exhibit A and made a part hereof for all purposestwenty (20) month period preceding an Anticipated Expansion Date, for a term that is coterminous with Tenant exercises an option or options to acquire space pursuant to its rights under Paragraph 41B of this Lease, the Lease Term. Tenant acknowledges that the amount of an Expansion Space is currently occupied which Landlord would otherwise be required to offer to Tenant under this Paragraph A may be reduced, at Landlord’s discretion by an existing tenant notice given within thirty (the “Existing Tenant”30) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing days of Tenant’s lease as exercise of November 30its rights under Paragraph 4IB, 2017. by the amount of square footage leased by Tenant hereby waives any claims against Landlord in the event during that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and twenty (20) month period pursuant to Tenant’s rights under ▇▇▇▇▇▇▇▇▇ ▇▇▇, except that once Tenant has delivered Tenant’s obligation Expansion Notice (as hereinafter defined), the amount of square footage of the applicable Expansion Space shall not be subject to commence paying rent with respect reduction as aforesaid. Tenant may exercise its options hereunder by providing notice of exercise (hereinafter, a “Tenant’s Expansion Notice”) to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten not later than thirty (1030) business days after its receipt from of Landlord’s notice to Tenant of the availability of the Expansion Space, time being of the essence of Tenant’s rights hereunder. Failure A particular expansion shall be effective (notwithstanding the date of Landlord to send any such certificate shall have no effect anticipated availability) on the date (each, an “Expansion Commencement Date. In the event there is any delay in the delivery of ”) on which Landlord delivers the Expansion Space to Tenant (includingin broom clean condition, without limitationfree of all occupants, due but in no event prior to the Existing Tenant holding over Anticipated Expansion Date and in no event later than the last day of the calendar year in which such Expansion Space past is to have been delivered pursuant hereto (i.e., 2008 or 2011). In the expiration of its lease), then this First Amendment event that Tenant shall not be void or voidable, nor shall Landlord be liable fail timely to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and give Tenant’s obligation Expansion Notice to commence paying rent with respect Landlord as aforesaid, all obligations of Landlord pursuant to the applicable expansion option only shall terminate and be of no further force and effect. In the event that Tenant shall give Tenant’s Expansion Notice to Landlord as aforesaid and does not withdraw such notice pursuant hereto, as of the applicable Expansion Date (except as otherwise provided below): (i) The Premises shall be deemed to include the applicable Expansion Space, with the result that all references in this Lease to the “Premises” (except for references to such term in this Paragraph) shall commence on for periods from and after the applicable Expansion Commencement Date be and be deemed to be, for all purposes hereunder, references to the Premises, the applicable Expansion Space and any RFO Space (as defined in Paragraph 4IB of this Lease) and Expansion Space previously added to the Premises pursuant to this Paragraph 41. The term for any Expansion Space shall be coterminous with the Term of this Lease for the Premises, as such Term may be extended pursuant to Paragraph 40 of this Lease; (ii) Base Rent for each Expansion Space shall be the Fair Market Rent. “Fair Market Rent” for purposes of this Paragraph 41 shall mean the rent for Class A office space in the Back Bay area similar in size to the applicable Expansion Space, condition of building and services provided, for a term equal to the term (i.e., concluding December 31, 2014) for the applicable Expansion Space as of the applicable Expansion Date., (i) without taking into account actual improvements (regardless of who paid for such improvements), or the cost of demolition of the space, and (ii) taking into account the Base Year and the magnitude of free rent, if any, buildout allowance, if any, and other market tenant inducements, if any, otherwise included in rents being quoted, and (iii) taking into account the brokerage commissions, if any, to be paid in connection with the expansion and compared to the market commission for a lease for the duration of the term (i.e., concluding December 31, 2014) of the applicable Expansion Space. In this connection, within fifteen (15) days after Tenant has given a Tenant’s Expansion Notice, Landlord shall provide Tenant with its quotation of the “Fair Market Rent” for the applicable Expansion Space as of the applicable Expansion Date. If within thirty (30) days of having received Landlord’s quotation, Tenant shall not have notified Landlord of its objection to Landlord’s quotation and of Tenant’s calculation of Fair Market Rent, the “Fair Market Rent” quoted by Landlord shall be the increase to the Base Rent for that particular Expansion Space. If Tenant so notifies Landlord, the parties shall discuss the matter in good faith for thirty (30) days after Tenant’s notice. If within forty-five (45) days of having received Tenant’s notice the parties have not agreed in writing, then, Landlord and Tenant shall, during a period of

Appears in 1 contract

Sources: Office Lease (Investors Financial Services Corp)

Expansion. Effective (a) Commencing on the Building One Premises Delivery Date, Sublandlord hereby subleases and as of December 1demises to Subtenant, 2017 (such date being and Subtenant hereby subleases and accepts from Sublandlord, on the -Expansion Commencement Date”)terms and conditions set forth herein, the Premises Building One Premises. (b) Sublandlord shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 deliver possession of the Building (the “Expansion Space”), being more fully shown and described One Premises to Subtenant on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the anticipated Building One Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Delivery Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation provided that Sublandlord shall not be subject to commence paying rent with respect any liability for its failure to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery possession of the Expansion Space to Tenant (includingBuilding One Premises by the anticipated Building One Premises Delivery Date or any other particular date, without limitation, due to nor shall such failure effect the Existing Tenant holding over in the Expansion Space past the expiration validity of its lease), then this First Amendment or affect the Sublease Expiration Date; provided that the Building One Premises Delivery Date shall be the day that Sublandlord tenders vacant possession of the Building One Premises to Subtenant. Notwithstanding the foregoing, if the Building One Premises Delivery Date does not be void or voidableoccur within fifteen (15) calendar days following the anticipated Building One Premises Delivery Date, nor Base Rent for the Building One Premises shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ following the actual Building One Rent Commencement Date for like number of days as shall have elapsed between the day following the fifteenth (15th) day after the anticipated Building One Premises Delivery Date and the actual Building One Premises Delivery Date. If the Building One Premises Delivery Date shall not have occurred within seventy five (75) days following the anticipated Building One Premises Delivery Date (the “Building One Premises Delivery Deadline”), then Subtenant shall have the right, but not the obligation, in its sole and absolute discretion to immediately terminate this First Amendment by providing written notice thereof to the Sublandlord within fifteen (15) days after the Building One Premises Delivery Deadline. If this First Amendment is terminated in accordance with this Section, then Base Rent for the Building One Premises shall be promptly refunded to Subtenant by Sublandlord and Subtenant and Sublandlord shall be fully released from any further obligations and liabilities under this First Amendment. (c) Prior to the Building One Premises Delivery Date, commencing on the date that the Master Landlord Consent has advised Landlord been received (the “Building One Premises Early Access Date”), Sublandlord agrees where such space is vacant to provide Subtenant, its employees, agents, consultants and contractors with reasonable early access and early entry (“Early Access”) to the Building One Premises, the “Building One MPOE Room”(as shown on Exhibit B), the “Building One MDF Room” (as shown on Exhibit B) and the “Building One Server Room” (as shown on Exhibit B) each of which are located on Floor One of Building One and shown on Exhibit B, at no additional rent to Subtenant, in order that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15Subtenant may perform due diligence, 2017, design and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such dateplanning; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent however that: (i) with respect to any Early Access prior to August 1, 2007, Subtenant agrees to provide Sublandlord with at minimum twenty-four (24) hours prior written notice of any Early Access; (ii) with respect to any Early Access after August 1, 2007, Subtenant’s Early Access shall be not require any prior written notice from Subtenant; and (iii) such Early Access shall at all times require an escort designated by Sublandord. Subtenant agrees that during such Early Access, other than as described above Subtenant shall not perform any construction, alteration, addition, repair or other work to the Building One Premises, Building One MPOE Room or Building One Server Room. (d) If Subtenant does not exercise the Expansion Option, Subtenant shall, at its sole expense, subdivide the portion of the Building One Server Room that it requires for its use of the Building One Premises in compliance with the provisions of Section 8.3 of the Sublease (the “Subdivided Server Room Space”) and that upon such subdivision, Subtenant shall commence pay pro rata Base Rent for the Subdivided Server Room Space (which rentable square feet shall be determined in good faith by Sublandlord and Subtenant). (e) Sublandlord shall deliver the Building One Premises to subtenant on the Expansion Commencement DateBuilding One Premises Delivery Date in “broom clean” condition with carpets vacuumed, and other floors cleaned. Sublandlord represents to Subtenant that upon such delivery the roof, all structural components, elevator, HVAC, electrical, plumbing, and fire and life safety systems of Building One, as well as the parking lot and site lighting, will be operational and in good working order and condition. Sublandlord further represents to its knowledge that upon such delivery the Premises shall comply with Applicable Requirements and with the Americans with Disability Act (“ADA”). Notwithstanding the foregoing, to the extent that the Initial Subtenant Improvements (as defined in Section 8 hereof), or any other alterations required by Subtenant, trigger a requirement to perform any alterations, improvements, upgrades or other work to Building One or the Building One Premises, then Subtenant shall pay the cost of such work.

Appears in 1 contract

Sources: Sublease (Ariba Inc)

Expansion. Effective on and as Lessee understands that Lessor does not control the adjacent space in the Building. However, if the adjacent space in the Building becomes available to Lessor for lease during the term of December 1, 2017 (such date being the -Expansion Commencement Date”), this Lease while Lessee is in possession of the Premises and no default by Lessee hereunder remains uncured, Lessor will give written notice to Lessee of the availability of the adjacent space for lease and Lessor's asking rent and general lease terms, before Lessor places the adjacent space on the market for lease. The "adjacent space in the Building" means the space currently subleased to Acteron. Lessee shall have ten (10) days after receipt of written notice from Lessor specifying the rent and the other economic terms requested for the adjacent space in which to notify Lessor in writing of its agreement to lease such space. The expiration date of the new lease for the adjacent space shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 of the Building (the “Expansion Space”), being more fully shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the expiration date of this Lease. For example, if the space becomes available during the original term of this Lease, Lessor agrees to lease the adjacent space to Lessee for the unexpired term of this Lease Termand to give Lessee a five (5) year extension option on the new space. Tenant acknowledges that The new space will be offered to Lessee on substantially the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) same terms as this Lease, except for any terms relating to Base Rent and that Landlord and such Existing Tenant are concurrently herewith entering Lessor shall not be required to make any Lessee improvements. The parties agree to promptly enter into an early termination amendment to this Lease for the adjacent space following Lessee's notice to Lessor of its agreement to terminate lease such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Datespace. If Lessee fails to timely exercise such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation right of first offer or if Lessee fails to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare execute and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it Lessor said amendment to Landlord this Lease within ten (10) business days after its receipt from Landlord. Failure of Landlord delivery thereof by Lessor to send any such certificate Lessee, Lessee shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends no right to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through lease such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect adjacent space. Lessee's rights under this Paragraph 53 shall be subject to the Expansion Spaceexisting extension rights of Acteron Corporation and Quantic, shall commence on the Expansion Commencement Dateexisting tenants.*

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Releasenow Com Corp)