No Obligation to Construct. Notwithstanding anything to the contrary contained in the Lease or in this Work Letter, Tenant shall not be obligated to (i) commence construction of all or any portion of the Tenant Improvements, or (ii) perform all or any particular portion of the Tenant Improvements described on the Space Plan or approved TI Construction Drawings; provided, however that if Tenant does not construct the Tenant Improvements or constructs only a portion of the Tenant Improvements, the Rent Commencement Date provided for in the Lease shall not be delayed, the amount of Base Rent provided for in the Lease shall not be reduced. Any Tenant Improvements actually constructed by Tenant shall be constructed in accordance with the applicable provisions of this Work Letter. This ACKNOWLEDGEMENT OF COMMENCEMENT DATE is made this 1st day of January, 2009, between ARE-SAN FRANCISCO NO. 29, LLC, a Delaware limited liability company (“Landlord”), and BIOCARDIA, INC., a Delaware corporation (“Tenant”), and is attached to and made a part of the Lease dated September 29, 2008 (the “Lease’), by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein shall have the meanings given them in the Lease. Landlord and Tenant hereby acknowledge and agree, for all purposes of the Lease, that the Commencement Date of the Base Term of the Lease is January 1, 2009 , the Rent Commencement Date is January 1, 2009 and the termination date of the Base Term of the Lease shall be midnight on December 31, 2013. In case of a conflict between the terms of the Lease and the terms of this Acknowledgment of Commencement Date, this Acknowledgment of Commencement Date shall control for all purposes.
Appears in 2 contracts
Sources: Lease Agreement (BioCardia, Inc.), Lease Agreement (BioCardia, Inc.)
No Obligation to Construct. Notwithstanding anything to the contrary contained in the Lease or in this Work Letter, Tenant shall not be obligated to (i) commence construction of all or any portion of the Tenant Improvements, or (ii) perform all or any particular portion of the Tenant Improvements described on the Space Plan or approved TI Construction Drawings; provided, however that if Tenant does not construct the Tenant Improvements or constructs only a portion of the Tenant Improvements, the Rent Commencement Date provided for in the Lease shall not be delayed, the amount of Base Rent provided for in the Lease shall not be reduced. Any Tenant Improvements actually constructed by Tenant shall be constructed in accordance with the applicable provisions of this Work Letter. This ACKNOWLEDGEMENT OF COMMENCEMENT DATE is made this 1st day of January, 2009, between ARE-SAN FRANCISCO NO. 29, LLC, a Delaware limited liability company (“"Landlord”"), and BIOCARDIA, INC., a Delaware corporation (“"Tenant”"), and is attached to and made a part of the Lease dated September 29, 2008 (the “"Lease’"), by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein shall have the meanings given them in the Lease. Landlord and Tenant hereby acknowledge and agree, for all purposes of the Lease, that the Commencement Date of the Base Term of the Lease is January 1, 2009 2009, the Rent Commencement Date is January 1, 2009 and the termination date of the Base Term of the Lease shall be midnight on December 31, 2013. In case of a conflict between the terms of the Lease and the terms of this Acknowledgment of Commencement Date, this Acknowledgment of Commencement Date shall control for all purposes.
Appears in 1 contract
Sources: Lease Agreement (BioCardia, Inc.)