From Tenant. Tenant shall, from time to time, within twenty (20) days after receiving written request from Landlord, execute, acknowledge and deliver to Landlord or its designee a written statement specifying the following, subject to any modifications necessary to make such statements true and complete: (a) The date the Term commenced and the date it expires and the Rent Commencement Date; (b) The current annual Ground Lease Rent and the date to which Ground Lease Rent has been paid; (c) That this Lease is in full force and effect and has not been assigned, modified, supplemented or amended in any way; (d) That this Lease represents the entire agreement between the parties; (e) That all conditions under this Lease to be performed by Landlord have been satisfied; (f) That there are no existing claims, defenses or offsets which Tenant has against the enforcement of this Lease by Landlord; (g) That no Ground Lease Rent has been paid more than one month in advance; and (h) Such other facts concerning the status of this Lease as Landlord may reasonably request. Any statement delivered pursuant to this Section 24.2 may be relied upon by a prospective purchaser of Landlord’s interest in the Premises, a prospective mortgagee of Landlord’s fee interest in the Premises or a prospective assignee of any such existing mortgagee. Should Tenant fail to respond to Landlord’s request within the twenty (20) day period provided above, Tenant shall pay a late response fee in the amount of Two Hundred Fifty Dollars ($250) per day, which amount shall be subject to Inflation Adjustment pursuant to Section 31.6 below, until such time as Tenant has provided Landlord with the estoppel certificate required by this Section 24.2.
Appears in 1 contract
Sources: Development Agreement
From Tenant. Promptly upon Landlord’s request after Tenant shallhas occupied the Premises, Tenant will execute and deliver to Landlord an Occupancy Estoppel Certificate in the form of Exhibit C. In addition, Tenant agrees that at any time and from time to timetime (but on not less than 10 days’ prior request by Landlord and not more than two times during any 12 calendar month period, within twenty (20) days after receiving written request from Landlordexcept Landlord may make additional requests in case of bona fide sale or financing transactions), Tenant will execute, acknowledge and deliver to Landlord a certificate indicating any or its designee a written statement specifying all of the following, subject to any modifications necessary to make such statements true and complete:
: (a) The date the Term commenced Commencement Date and the date it expires and the Rent Commencement Expiration Date;
; (b) The current annual Ground that this Lease Rent is unmodified and in full force and effect (or, if there have been modifications, that this Lease is in full force and effect, as modified, and stating the date to which Ground Lease Rent has been paid;
and nature of each modification); (c) That the date, if any, through which Base Rent, Additional Rent and any other Rent payable have been paid; (d) that no default by Tenant exists which has not been cured, and that to the best knowledge of Tenant no default by Landlord or Tenant exists which has not been cured, except in each case as to defaults stated in such certificate; (e) that Tenant has no existing defenses or set-offs to enforcement of this Lease, except as specifically stated in such certificate; (f) provided such events have occurred, that Tenant has accepted the Premises and that all improvements required to be made to the Premises by Landlord have been completed according to this Lease; (g) that, except as specifically stated in such certificate, Tenant, and only Tenant, currently occupies the Premises; and (h) such other matters as may be reasonably requested by Landlord. Any such certificate may be relied upon by Landlord and any prospective purchaser or present or prospective mortgagee, deed of trust beneficiary or ground lessor of all or a portion of the Building and/or Project. Tenant’s failure to deliver such certificate will be deemed to establish conclusively that this Lease is in full force and effect and has not been assigned, modified, supplemented or amended that the statements set forth in any way;
(d) That this Lease represents the entire agreement between the parties;
(e) That all conditions under this Lease to be performed by Landlord have been satisfied;
(f) That there are no existing claims, defenses or offsets which Tenant has against the enforcement of this Lease by Landlord;
(g) That no Ground Lease Rent has been paid more than one month in advance; and
(h) Such other facts concerning the status of this Lease as Landlord may reasonably request. Any statement delivered pursuant to this Section 24.2 may be relied upon by a prospective purchaser of Landlord’s interest in the Premises, a prospective mortgagee of Landlord’s fee interest in the Premises or a prospective assignee of any such existing mortgagee. Should Tenant fail to respond to Landlord’s request within the twenty (20) day period provided above, Tenant shall pay a late response fee in the amount of Two Hundred Fifty Dollars ($250) per day, which amount shall be subject to Inflation Adjustment pursuant to Section 31.6 below, until such time as Tenant has provided Landlord with the estoppel proposed certificate required by this Section 24.2are true and correct.
Appears in 1 contract
Sources: Lease Agreement (Singulex Inc)
From Tenant. Tenant shall, from time to time, within twenty upon not less than ten (2010) days after receiving business days’ prior written request from by Landlord, execute, acknowledge and deliver to Landlord or its designee a written statement specifying the following, subject to any modifications necessary to make such statements true and complete:
(a) The date the Term commenced and the date it expires and the Rent Commencement Date;
(b) The current annual Ground Lease Rent and the date to which Ground Lease Rent has been paid;
(c) That certifying that this Lease is unmodified and in full force and effect (or, if there have been modifications, that the same is in full force and effect as modified and has not been assignedstating the modifications), modified, supplemented or amended in any way;
(d) That this Lease represents the entire agreement between dates to which the parties;
(e) That all conditions under this Lease to be performed by Landlord have been satisfied;
(f) That there are no existing claims, defenses or offsets which Tenant has against the enforcement of this Lease by Landlord;
(g) That no Ground Lease Rent has been paid more than one month paid, that Tenant is not in advance; and
Default hereunder and whether Tenant has any offsets or defenses against Landlord under this Lease, and whether or not to the best of Tenant’s knowledge Landlord is in Landlord Default hereunder (h) Such other facts concerning and if so, specifying the status nature of this Lease as the Landlord may reasonably request. Any Default), it being intended that any such statement delivered pursuant to this Section 24.2 paragraph may be relied upon by a prospective purchaser of Landlord’s interest in the Premises, or by a prospective mortgagee of Landlord’s fee interest or assignee of any security deed upon Landlord’s interest in the Premises Premises. If Tenant fails to timely deliver either (i) an executed estoppel certificate or (ii) good faith comments to a prospective assignee proposed estoppel certificate to Landlord and thereafter fails again to deliver the same within five (5) business days after delivery of any such existing mortgagee. Should a further request for same, and then again fails to deliver the same within five (5) business days after a third notice to Tenant fail to respond to given thereafter, the estoppel prepared by Landlord will be deemed true and correct and binding upon Tenant and at Landlord’s request within option, such failure will constitute a Default hereunder without the twenty (20) day period provided above, Tenant shall pay a late response fee in necessity of additional notice or the amount passage of Two Hundred Fifty Dollars ($250) per day, which amount shall be subject to Inflation Adjustment pursuant to Section 31.6 below, until such time as Tenant has provided Landlord with the estoppel certificate required by this Section 24.2additional grace periods.
Appears in 1 contract