MEASUREMENT STANDARD Sample Clauses
A Measurement Standard clause defines the method or criteria by which certain quantities, values, or performance metrics are determined under a contract. This clause typically specifies the tools, procedures, or benchmarks to be used for measuring deliverables, such as using industry standards, third-party assessments, or agreed-upon formulas. Its core practical function is to ensure consistency and objectivity in evaluating contractual obligations, thereby reducing disputes over how performance or compliance is assessed.
MEASUREMENT STANDARD. 39.1 The parties agree that the rentable area figures set forth in this Lease are conclusive except as expressly provided in this Section 39.1. Landlord and Tenant agree that it is EAST\174041517.9 the intent of the parties for Landlord to complete the design of the Building in a manner providing for approximately 160,197-161,815 rentable square feet of Premises and approximately 525,396 rentable square feet of Building as measured pursuant to the Measurement Standard (as defined below). Following the completion of the construction documents for the Landlord’s Work, Landlord’s architect shall calculate the rentable area of the Premises and Building in accordance with Office Buildings: Standard Methods for Measurement as published by the Secretariat, Building Owners and Managers Association International (“BOMA”) (ANSI/BOMA ▇▇▇.▇-▇▇▇▇, ▇▇▇▇▇▇ B as modified by the inclusion of any floor area serving laboratory exhaust or elevator shafts that are 100% dedicated to Tenant’s use) (collectively, the “Measurement Standard”), and certify the rentable square footage of the Premises and Building to Landlord and Tenant. Tenant shall have the right to review such certification and, so long as the Premises is not greater than 161,815 rentable square feet or less than 160,197 rentable square feet pursuant to such measurement, the parties shall enter into an amendment to this Lease confirming the rentable square footage of the Premises and the Building (subject to the following provisions of this Section 39.1) as well as proportional changes in the Fixed Rent due and any other charges due under this Lease based upon the rentable square footages of the Premises and the Building, and a proportionate adjustment in any other rights of Tenant apportioned based on the rentable square footages of the Premises and the Building hereunder. If the Premises are less than 160,197 rentable square feet or more than 161,815 rentable square feet based on such measurement, then Landlord shall make such changes to the construction documents that are required so as to bring the Premises within such parameters and Tenant will cooperate in connection with the same. Within thirty (30) days following the substantial completion of the Landlord’s Work, Landlord shall direct its architect to calculate the rentable square footages of the Premises and the Building pursuant to the Measurement Standard and certify the same to Tenant. If such measurement of the Premises is between 160,197 and 161,815 r...
MEASUREMENT STANDARD. All space in the building other than that initially leased by Tenant hereunder shall be measured based on the measurement standards contained in the American National Standard Method of Measuring Floor Area and Office Projects published by the Building Owners and Managers Association International.
MEASUREMENT STANDARD. The parties acknowledge that the usable area of the Building has been measured in accordance with Building Owners and Managers Association (BOMA) international standard method of floor measurement (ANSI/BOMA 265.1-1996) for multi-tenanted buildings (the “Measurement Standard”) using a loss factor of 1.24% for multitenant floors and 1.11% for single tenant floors. Prior to the execution of any amendments to this Lease evidencing any additions to the Premises demised hereunder pursuant to Article 19 or 20, Landlord shall arrange for a re-measurement of the relevant expansion space in accordance with the Measurement Standard and memorialize the measurement of such expansion space in such amendments.
MEASUREMENT STANDARD. Pursuant to Section 2.01(e)(ii) of the Original Lease, the rentable area of the Premises has been remeasured in accordance with the Measurement Standard and the remeasured rentable square footage of the Premises is set forth on Exhibit A attached hereto. Exhibit 2.01(e) to the Original Lease is hereby deleted in its entirety and replaced with Exhibit A attached hereto. Landlord and Tenant acknowledge and agree that the measurements reflected in this Amendment, including Exhibit A, are the final and conclusive measurements for the Building, Premises and each Phase under the Lease and Landlord waives its rights under the Lease, including Section 2.01, to further remeasure the Building, Premises or any Phase. Notwithstanding anything herein to the contrary, to the extent that there is a conflict between the rentable area set forth in this Amendment and that set forth on Exhibit A hereto, the information set forth in this Amendment shall supersede.
MEASUREMENT STANDARD. (A) The Total Rentable Floor Area of the Premises, the Office Portion of the Building and the Building shall be based upon the measurement standard (“Measurement Standard”) attached hereto as Schedule 2.
(B) Landlord shall, not later than the date sixty (60) days after the Actual Substantial Completion Date, at Landlord’s cost, deliver to Tenant a written stamped certification (“Measurement Certification”) from Landlord’s architect (who shall be an architect registered in the Commonwealth of Massachusetts) of the actual Total Rentable Floor Area of the Premises, the Office Portion of the Building and the Building, utilizing the methodology set forth in the Measurement Standard. The Measurement Certification shall include, in reasonable detail, the basis of Landlord’s architect’s certification and Landlord’s architect shall deliver to Tenant therewith electronic record Building Plans and the spreadsheet and other documents used to develop all calculations underlying the Measurement Certification. Such Measurement Certification shall be binding upon both parties unless, within thirty (30) days after ▇▇▇▇▇▇ receives Landlord’s architect’s Measurement Certification, Tenant gives written notice (“Tenant’s Objection to Measurement Certification”) to Landlord objecting to the Measurement Certification. If Tenant timely gives ▇▇▇▇▇▇’s Objection to the Measurement Certification, then within thirty (30) days following Landlord’s receipt of Tenant’s Objection to the Measurement Certification, Landlord shall cause an independent reputable licensed architect or architecture firm which Landlord shall select subject to Tenant’s approval (such approval not to be unreasonably withheld, delayed or conditioned), provided, that, as of the date hereof Landlord and Tenant hereby pre-approve: (x) Gensler, (y) ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Architects, and (z) Viznick & Caulfield Associates, Inc. (the architect or architecture firm so selected being the “Remeasurement Architect”) to certify, utilizing the Measurement Standard, the actual Total Rentable Floor Area of the Premises, the Office Portion of the Building and the Building. In no event shall the Remeasurement Architect have worked for either party (or their respective affiliates) since the Execution Date of the Lease, and upon selection, the Remeasurement Architect shall provide a certification to both parties to such effect.
(C) The Remeasurement Architect shall complete such remeasurement and deliver its written certification of su...
MEASUREMENT STANDARD. To ensure the Annual Bonus is based on the most accurate data available, for the purposes of calculation of the Annual Bonus, Employee agrees that the financial results of the Company on which the Annual Bonus will be calculated shall be as reported by the Company in its audited financial statements for each year end. The Employee acknowledges that these financial statements are due a maximum of 105 days past each year end of the Company.
MEASUREMENT STANDARD. Effective as of the Effective Date, pursuant to Section 2.01(e)(ii) of the Original Lease, the rentable area of the Premises has been remeasured in accordance with the Measurement Standard and the remeasured rentable square footage of the Premises is set forth on Exhibit B attached hereto. Exhibit 2.01 (e) to the Original Lease is hereby deleted in its entirety and replaced with Exhibit B attached hereto. Landlord and Tenant acknowledge and agree that the measurements reflected in this Amendment, including Exhibit B, are the final and conclusive measurements for the Building, Premises and each Phase (except for the Additional Premises Second Phase) under the Lease. Notwithstanding anything herein to the contrary, to the extent that there is a conflict between the rentable area set forth in this Amendment and that set forth on Exhibit B hereto, the information set forth in this Amendment shall supersede. For clarification purposes, effective as of the Effective Date but not prior to such Effective Date, the measurements reflected in Sections 7, 8 and 9 and Exhibit B of this Amendment, supersede the measurements set forth in the First Amendment, including Exhibit A attached thereto.
MEASUREMENT STANDARD. Section 26.1. The parties agree that the rentable area figures set forth in this Lease are conclusive except as expressly provided in this Article XXVI. Following completion of the improvements to the Premises by Tenant, Landlord shall provide Tenant with a certification of the square footage and rentable area figures set forth in this Lease by Landlord’s architect in accordance with [Floor Area Measurement Best Practice #1; Office Buildings: Standard Methods for Measurement as published by the Secretariat, Building Owners and Managers Association International (“BOMA”) (ANSI/BOMA ▇▇▇.▇-▇▇▇▇, ▇▇▇▇▇▇ B the Office Buildings and ▇▇▇▇ ▇▇▇▇▇ Area Standard (ANSI/BOMA Z65.3 2009), Approved February 4, 2014]. If Tenant disputes the results within ten (10) business days following the receipt of such certification, then Landlord, Landlord’s architect and Tenant shall meet and resolve the dispute within such ten (10) business day period. If the parties are unable to resolve such dispute within such ten (10) business days, either of the parties may elect to submit such dispute to arbitration by directing the California to appoint an arbitrator who shall have a minimum of ten (10) years’ experience in commercial real estate disputes and who shall not be affiliated with either Landlord or Tenant. Both Landlord and Tenant shall have the opportunity to present evidence and outside consultants to the arbitrator. The arbitration shall be conducted in accordance with the expedited commercial real estate arbitration rules of the AAA insofar as such rules are not inconsistent with the provisions of this Lease (in which case the provisions of this Lease shall govern). The cost of the arbitration (exclusive of each party’s witness and attorneys’ fees, which shall be paid by such party) shall be borne equally by the parties. Within five (5) days of appointment, the arbitrator shall render a decision and the appropriate resolution, if any. The arbitrator’s decision shall be final and binding on the parties. In the event that the rentable area of the Premises shall be adjusted as aforesaid, the parties shall enter into an amendment to this Lease confirming the rentable square footage of the Premises and the Building as well as proportional changes in the Base Rent due and any other charges due under this Lease based upon the rentable square footage of the Premises.