Phase 1 Premises Clause Samples

Phase 1 Premises. (a) Landlord shall endeavor to tender possession of the Phase 1 Premises to Tenant on or before the Phase 1 Estimated Delivery Date. If Landlord’s Construction Work or the Tenant Improvements as required pursuant to the terms of the Work Letter are not Substantially Complete on or before the Phase 1 Estimated Delivery Date for any reason whatsoever, then, except as provided below, this Lease shall not be void or voidable, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom and the Phase 1 Commencement Date shall not occur until Substantial Completion of Landlord’s Construction Work and the Tenant Improvements occurs; provided, however, if the satisfaction of the requirements for Substantial Completion of Landlord’s Construction Work or the Tenant Improvements have been actually delayed by any Tenant Delay, then, subject to the terms hereof, Substantial Completion of Landlord’s Construction Work and the Tenant Improvements shall be deemed to occur when (as reasonably determined by Landlord) Substantial Completion of Landlord’s Construction Work and the Tenant Improvements would have occurred if such Tenant Delay had not occurred. Within thirty (30) days after Substantial Completion of Landlord’s Construction Work and the Tenant Improvements, Landlord’s architect shall calculate and certify in writing to Landlord and Tenant the Rentable Area of the Phase 1 Premises in accordance with Article 9. “Tenant Delay” shall mean: (1) delays or failure of Tenant or Tenant’s architect to deliver items in accordance with the Work Letter attached hereto as Exhibit J; (2) Tenant’s failure to timely fulfill its obligations as set forth in the Work Letter within the time periods set forth therein; (3) delays caused by CW Tenant Change Order Requests (as defined in the Work Letter) or TI Tenant Change Order Requests (as defined in the Work Letter); 4) unavailability of materials, components or finishes for the Tenant Improvements that have an unusually long lead-time for delivery; (5) a willful or negligent act or omission of Tenant, Tenant’s Agents that interferes with the progress of the work, (6) any delay that results from Tenant’s use of an architect other than F▇▇▇▇▇▇▇ P▇▇▇ B▇▇▇▇▇▇ Architects for purposes of the TI Program and the Schematic TI Plans, or (7) any other event or circumstance described as a Tenant Delay in the Work Letter. Landlord shall not assess any day towards a Tenant Delay for delays caused solely by Landlord’s contracto...
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Phase 1 Premises. Tenant hereby acknowledges that the Phase 1 Premises is currently occupied by another tenant of the Building. Landlord intends to deliver possession of the Phase 1 Premises to Tenant on or before the Lease Commencement Date; provided however, if Landlord is unable for any reason to deliver possession of the Phase 1 Premises to Tenant by the Lease Commencement Date, then (i) Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder, and (ii) notwithstanding anything to the contrary contained in this Lease, Tenant's sole remedy for such failure shall be (a) a day-for-day extension of the Rent Abatement Period for each day of such delay in accordance with the terms and conditions of Section 3.2, below, and (b) Tenant's Share shall be adjusted accordingly (i.e., based solely on the rentable area of the Phase 2 Premises) for each day such delivery is delayed beyond the Lease Commencement Date.
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Phase 1 Premises. This Lease shall commence on the "Phase 1 Commencement Date" (as herein defined) and shall be for a term (herein the "Term" or the "Lease Term") of seven (7) years, plus the portion of a calendar month, if any, from the Phase 1 Commencement Date to the last day of the calendar month in which the Phase 1 Commencement Date occurs. As used in this Lease, the term "Phase 1 Commencement Date", as advanced or postponed pursuant to the terms hereof, shall be defined as the earlier to occur of (a) the date on which Tenant takes possession and occupancy of the Phase 1 Premises, or (b) the date which is fifteen (15) days following that date which is the first on which all of the following events have occurred, namely (i) the Phase 1 Premises are "substantially completed", as defined in Section 2.1.1 following, (ii) Landlord has given Tenant written notice that the Phase 1 Premises are 2 substantially completed", and (iii) the "Phase 1 Target Date" as defined in Section 2.1.1 following has arrived. Tenant, at its sole risk, shall be permitted by Landlord to enter the Phase 1 Premises prior to the Phase 1 Commencement Date solely for the purpose of installing Tenant's fixtures and equipment, provided that (a) Tenant shall in each instance coordinate its entry and installation of equipment in the Phase 1 Premises in advance of Tenant's entry, and (b) Tenants activities shall be conducted so as not to unreasonably interfere with Landlord's Phase 1 Work (as hereinafter defined.)
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Phase 1 Premises. Tenant shall pay to Landlord as Base Rent for the Phase 1 Premises, commencing on the third (3rd) monthly anniversary of the Phase 1 Commencement Date (the “Phase 1 Rent Commencement Date”), the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term, commencing on the Phase 1 Rent Commencement Date.
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Related to Phase 1 Premises

  • Additional Premises Landlord shall use commercially reasonable efforts to expand the Premises to include an additional fifteen thousand four hundred ten (15,410) square feet of Rentable Area located on the first (1st) floor, as shown on Exhibit A attached hereto (the “Additional Premises”) on July 1, 2012 (the “Additional Premises Delivery Date”). In the event Landlord determines the Additional Premises will be ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, within ten (10) business days prior to the Additional Premises Delivery Date, Landlord and Tenant shall enter into a written amendment to the Lease, which amendment shall provide, unless otherwise agreed in writing, (a) that the commencement date of the Additional Premises shall be the Additional Premises Delivery Date (the “Additional Premises Commencement Date”), (b) that, as of the Additional Premises Commencement Date, the Premises under the Lease shall be increased to include the Additional Premises for a total of sixty-one thousand four hundred forty-four (61,444) square feet of Rentable Area (together, the Premises and the Additional Premises shall be referred to hereinafter as the “Total Premises”), (c) the new Basic Annual Rent applicable to the Total Premises, which shall commence on the Additional Premises Commencement Date and shall be as further described in Section 4.2 of this Amendment, (d) Tenant’s new Pro Rata Share of Operating Expenses as of the Additional Premises Commencement Date, which Pro Rata Share shall equal one hundred percent (100%) of the Building and thirty-three and 51/100 percent (33.51%) of the Project and (e) that, in addition to the parking which Tenant is entitled to under the terms of the Lease with respect to the original Premises, Tenant, for so long as Tenant leases the Additional Premises, shall have a non-exclusive license to use the parking facilities serving the Building in common on an unreserved basis with other tenants of the Building and the Project at a ratio of 3.3 parking spaces per 1,000 rentable square feet of Additional Premises, which amounts to fifty-one (51) additional parking spaces, which number shall include three (3) additional Reserved Spaces. In the event the Additional Premises is not ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, then (x) this Amendment and the Lease shall not be void or voidable, (y) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom and (z) the new Basic Annual Rent applicable to the Premises shall be as further described in Section 4.3 of this Amendment.

  • Existing Premises Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the terms of the Lease.

  • Vacating Premises (i) If the Assuming Bank elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the date upon which the Assuming Bank's occupancy of such premises shall terminate, which date shall not be later than ninety (90) days after the date of the Assuming Bank's notice not to exercise such option. The Assuming Bank promptly shall relinquish and release to the Receiver such premises and the Furniture and Equipment and Fixtures located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By occupying any such premises after the expiration of such ninety (90)-day period, the Assuming Bank shall, at the Receiver's option, (x) be deemed to have agreed to purchase such Bank Premises, and to assume all leases, obligations and liabilities with respect to leased Furniture and Equipment and leased Fixtures located thereon and any ground lease with respect to the land on which such premises are located, and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank and located on such premises as of Bank Closing. (ii) If the Assuming Bank elects not to accept an assignment of the lease or sublease any leased Bank Premises, the notice of such election in accordance with Section 4.6(b) shall specify the date upon which the Assuming Bank's occupancy of such leased Bank Premises shall terminate, which date shall not be later than the date which is one hundred eighty (180) days after Bank Closing. Upon vacating such premises, the Assuming Bank shall relinquish and release to the Receiver such premises and the Fixtures and the Furniture and Equipment located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By failing to provide notice of its intention to vacate such premises prior to the expiration of the option period specified in Section 4.6(b), or by occupying such premises after the one hundred eighty (180)- day period specified above in this paragraph (ii), the Assuming Bank shall, at the Receiver's option, (x) be deemed to have assumed all leases, obligations and liabilities with respect to such premises (including any ground lease with respect to the land on which premises are located), and leased Furniture and Equipment and leased Fixtures located thereon in accordance with this Section 4.6 (unless the Receiver previously repudiated any such lease), and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank at Fair Market Value and located on such premises as of Bank Closing.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Expansion Space As used in this paragraph, the term “Expansion Space” means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.