Common use of Purpose of the Lease Clause in Contracts

Purpose of the Lease. 2.1 The Landlord hereby leases the Property to the Tenant, who accepts it, so that the Tenant can carry out in the Property the Permitted Use and the corresponding administrative tasks after the completion of the Conditioning Works by the Tenant and obtaining the relevant authorizations. For the avoidance of doubt: (a) The access areas indicated in color in the draft attached in Annex 3 are part of the Building. (b) The Property is leased to the Tenant with the connections to the general supplies and equipment of the Building and without prejudice to the Tenant’s power to install the equipment and machinery that are necessary for the development of its activities, whose installation will correspond to the Tenant itself (and that will be owned by the Tenant) under the terms stipulated in this Agreement. 2.2 The Tenant may only use the Property for the Permitted Use and always subject to the License of Occupation and the Activity License. 2.3 The Tenant may only develop the Permitted Use in the Property. Any change in whole or in part to the Permitted Use may only be made by novation in writing of this Agreement. 2.4 This Agreement is valid and comes into force as of today’s date and the Parties expressly declare that there is no need for any further ratification after the delivery of the Property to the Tenant. Consequently, all rights, obligations and waivers included in this Agreement become final as of today, without prejudice to the fact that the effectiveness of certain clauses is deferred to a later time (delivery, agreements on Rent payments, start of the Lease Term, etc.). 2.5 It is expressly stated for the record that the purpose of this Agreement constitutes the Property in its entirety, considered as an indivisible whole, comprising the Warehouse and the Offices referred to in Exhibit (B). The Tenant may not reduce the purpose of the Lease in any way during the term of the Agreement and is obliged to pay the full Rent in accordance with the provisions of this Agreement. However, the Landlord expressly reserves the option to exclude from the Lease the use of the Cover Surface Area, in the event that the Landlord wishes to exploit it directly or assign its use by the title it deems appropriate to any third parties of its free choice (such as investors, agents or operators in the renewable energy market) for the facility, maintenance and exploitation of solar thermal or photovoltaic energy capture systems, with or without connection to the electrical grid (such as thermal panels and/or photovoltaic plates) or for the production of electrical energy on a special basis, which the Tenant accepts and consents to for all purposes. 2.6 The Tenant expressly accepts the classification, rating and urban planning situation of the Building (in particular, for the purposes of the uses permitted to be implemented under this Agreement), assumes the regulatory provisions and limitations that may derive from the classification, rating and urban planning situation for the development of the Permitted Use and undertakes to comply with said regulatory provisions and limitations during the term of this Agreement. 2.7 In the event that one or more Additional Requirements are imposed, the Tenant undertakes from now on to bear the costs that may derive from the execution or implementation of said Additional Requirements and undertakes to pay them within fifteen (15) Business Days of receipt of the corresponding payment request from the Landlord. The Completion Date of the Landlord’s Works will be postponed for the period necessary to comply with the Additional Requirements. 2.8 The Tenant agrees to collaborate with the Landlord to the extent that such collaboration is necessary for the completion of the Landlord’s Works and the processing of the License of Occupation. The Tenant agrees to make available to the Landlord all plans and specifications of the Conditioning Works that the Landlord may require. 2.9 During the execution of the Landlord’s Works, the Tenant may request the Landlord to make constructive modifications to the Property (the “Work Modifications”). The Landlord may refuse to make such Work Modifications if they differ materially from the conditions and limits established in the Technical Specifications. The Landlord shall inform the Tenant of both the price and term of execution of the Work Modifications and the impact that the Work Modifications may have on the Landlord’s Works Completion Date. If the Parties reach an agreement on the price, term and scope of the Work Modifications, they must confirm said agreement in writing by formalizing a Change Order. If the execution of the Work Modifications affects the Completion Date, the Parties shall establish the new Landlord’s Works Completion Date in the Change Order. The Landlord shall not be obliged to initiate the Work Modifications until the corresponding Change Order has been formalized between the Parties. 2.10 The Landlord shall execute the Work Modifications at its own expense for the price agreed in the Change Order (the “Work Modification Costs”). Unless otherwise agreed by the Parties, the Work Modification Costs shall be taken into account in the calculation of the Supplementary Part of the Rent in accordance with Clause 8.5. 2.11 If any of the causes of termination of this Agreement in accordance with Clauses 18.2 or 18.4 occurs before the Start Date, the Landlord shall have the right to demand from the Tenant, who agrees, a conventional penalty equal to 150% of the Work Modification Costs and of the costs motivated by the Additional Requirements referred to in Clause 2.7.

Appears in 2 contracts

Sources: Non Residential Lease Agreement (RMG Acquisition Corp. III), Non Residential Lease Agreement (RMG Acquisition Corp. III)

Purpose of the Lease. 2.1 3.1 The Landlord hereby leases the Property Lessor grants to the Tenant, who accepts it, so that Lessee the Tenant can carry out right to use the Office Premises exclusively as office premises (the “Purpose of the Lease”). Within the purpose of use mentioned in the Property preceding sentence the Permitted Use and the corresponding administrative tasks after the completion of the Conditioning Works by the Tenant and obtaining the relevant authorizations. For the avoidance of doubt: (a) The access areas indicated in color in the draft attached in Annex 3 are part of the Building. (b) The Property is leased Lessee undertakes to the Tenant with the connections to the general supplies and equipment of the Building and without prejudice to the Tenant’s power to install the equipment and machinery that are necessary for the development of its activities, whose installation will correspond to the Tenant itself (and that will be owned by the Tenant) under the terms stipulated in this Agreement. 2.2 The Tenant may only use the Property for the Permitted Use and always subject to the License of Occupation and the Activity License. 2.3 The Tenant may only develop the Permitted Use in the Property. Any change in whole or in part to the Permitted Use may only be made by novation in writing of this Agreement. 2.4 This Agreement is valid and comes into force as of today’s date and the Parties expressly declare that there is no need for any further ratification after the delivery of the Property to the Tenant. Consequently, all rights, obligations and waivers included in this Agreement become final as of today, without prejudice to the fact that the effectiveness of certain clauses is deferred to a later time (delivery, agreements on Rent payments, start Subject of the Lease Term, etc.)only for activities registered as the Lessee’s scope of business activity listed in the Lessee’s extract from the Commercial Register attached at Exhibit 1 hereto. 2.5 It 3.2 The Lessee is expressly stated entitled neither to: (i) deal with any goods nor to sell goods in the Subject of the Lease, nor to (ii) organize exhibitions, markets, presentations and similar events in the Subject of the Lease, except for occasional events for Lessee’s clients, contractors and/or any third persons in an extent usual and acceptable for office premises, nor to (iii) otherwise use the record that the purpose of this Agreement constitutes the Property in its entirety, considered as an indivisible whole, comprising the Warehouse and the Offices referred to in Exhibit (B). The Tenant may not reduce the purpose Subject of the Lease in any way during a manner or extent exceeding the term usual and acceptable office premises. 3.3 Any extension of the Agreement and Lessee’s scope of business activity performed in the Subject of the Lease whether it is or is not individually subject to record in the Commercial Register, or by any other activity, whether it is or is not subject to record in the any register is subject to prior written consent of the Lessor. The exemption from the above-mentioned is acquiring new activity, which belongs to unregulated trade according to the Trade Act, of which the Lessee will inform the Lessor without undue delay following the acquisition of such activity. 3.4 The Lessee may not use the Subject of the Lease for other purposes than those described above in Section 3.1. 3.5 The Lessee is entitled to place its registered office at the address of the Subject of Lease. The Lessor shall provide the Lessee at its request with a written consent with the placement of the registered office of the Lessee in the Subject of Lease for the purpose of registration of the Lessee’s registered office in the Commercial Register. The Lessee is obliged to pay change its registered office and, within the full Rent in accordance with same deadline, ensure a change of the provisions address of this Agreement. However, any other companies for which the Landlord expressly reserves the option to exclude Lessee was granted a consent from the Lease the use Lessor with placement of the Cover Surface Area, registered office in the event that the Landlord wishes to exploit it directly or assign its use by the title it deems appropriate to any third parties of its free choice (such as investorsBuilding, agents or operators in the renewable energy market) for the facility, maintenance and exploitation of solar thermal or photovoltaic energy capture systems, with or without connection to the electrical grid (such as thermal panels and/or photovoltaic plates) or for the production of electrical energy on a special basis, which the Tenant accepts and consents to for all purposes. 2.6 The Tenant expressly accepts the classification, rating and urban planning situation of the Building (in particular, for the purposes of the uses permitted to be implemented under this Agreement), assumes the regulatory provisions and limitations that may derive from the classification, rating and urban planning situation for the development of the Permitted Use and undertakes to comply with said regulatory provisions and limitations during the term of this Agreement. 2.7 In the event that one or more Additional Requirements are imposed, the Tenant undertakes from now on to bear the costs that may derive from the execution or implementation of said Additional Requirements and undertakes to pay them within fifteen (15) Business Days of receipt of the corresponding payment request from the Landlord. The Completion Date of the Landlord’s Works will be postponed for the period necessary to comply with the Additional Requirements. 2.8 The Tenant agrees to collaborate with the Landlord to the extent that such collaboration is necessary for the completion of the Landlord’s Works and the processing of the License of Occupation. The Tenant agrees to make available to the Landlord all plans and specifications of the Conditioning Works that the Landlord may require. 2.9 During the execution of the Landlord’s Works, the Tenant may request the Landlord to make constructive modifications to the Property (the “Work Modifications”). The Landlord may refuse to make such Work Modifications if they differ materially from the conditions and limits established in the Technical Specifications. The Landlord shall inform the Tenant of both the price and term of execution of the Work Modifications and the impact that the Work Modifications may have on the Landlord’s Works Completion Date. If the Parties reach an agreement on the price, term and scope of the Work Modifications, they must confirm said agreement in writing by formalizing a Change Order. If the execution of the Work Modifications affects the Completion Date, the Parties shall establish the new Landlord’s Works Completion Date in the Change Order. The Landlord shall not be obliged to initiate the Work Modifications until the corresponding Change Order has been formalized between the Parties. 2.10 The Landlord shall execute the Work Modifications at its own expense for the price agreed in the Change Order (the “Work Modification Costs”). Unless otherwise agreed by the Parties, the Work Modification Costs shall be taken into account in the calculation of the Supplementary Part of the Rent in accordance with Clause 8.5. 2.11 If any of the causes of 60 days after termination of this Agreement and to evidence such a changes to the Lessor, provided that the new address of the registered office of the Lessee and/or other relevant companies shall differ from the address of the Subject of Lease. If the Lessee fails to fulfil its obligation mentioned in accordance with Clauses 18.2 or 18.4 occurs before the Start Datethis Section, the Landlord Lessee shall have pay to the right Lessor a contractual penalty amounting to demand from the Tenant, who agrees, a conventional penalty equal to 150% EUR 100 for each commenced day of the Work Modification Costs and of the costs motivated by the Additional Requirements referred to in Clause 2.7delay with its fulfilment.

Appears in 2 contracts

Sources: Lease Agreement (SEMrush Holdings, Inc.), Lease Agreement (SEMrush Holdings, Inc.)

Purpose of the Lease. 2.1 4.1 The Landlord hereby leases Lessee undertakes to use the Property to the Tenant, who accepts it, so that the Tenant can carry out in the Property the Permitted Use and the corresponding administrative tasks after the completion Premises for office purposes of the Conditioning Works by the Tenant and obtaining the relevant authorizations. For the avoidance of doubt: (a) The access areas indicated in color in the draft attached in Annex 3 are part of the Building. (b) The Property is leased to the Tenant with the connections to the general supplies and equipment of the Building and without prejudice to the Tenant’s power to install the equipment and machinery that are necessary for the development of its activities, whose installation will correspond to the Tenant itself (and that will be owned by the Tenant) under the terms stipulated in this Agreement. 2.2 The Tenant may Company only use the Property for the Permitted Use and always subject to the License of Occupation and the Activity License. 2.3 The Tenant may only develop the Permitted Use in the Property. Any change in whole or in part to the Permitted Use may only be made by novation in writing of this Agreement. 2.4 This Agreement is valid and comes into force as of today’s date and the Parties expressly declare that there is no need for any further ratification after the delivery of the Property to the Tenant. Consequently, all rights, obligations and waivers included in this Agreement become final as of today, without prejudice to the fact that the effectiveness of certain clauses is deferred to a later time law (delivery, agreements on Rent payments, start of hereinafter – “the Lease Term, etc.). 2.5 It is expressly stated for the record that the purpose of this Agreement constitutes the Property in its entirety, considered as an indivisible whole, comprising the Warehouse and the Offices referred to in Exhibit (BPurpose”). The Tenant Lessee may not reduce use the purpose of the Lease in Premises for any way during the term of the Agreement and other purpose. This clause is obliged to pay the full Rent in accordance with the provisions of this Agreement. However, the Landlord expressly reserves the option to exclude from the Lease the use of the Cover Surface Area, in the event that the Landlord wishes to exploit it directly or assign its use by the title it deems appropriate to any third parties of its free choice (such as investors, agents or operators in the renewable energy market) for the facility, maintenance and exploitation of solar thermal or photovoltaic energy capture systems, with or without connection to the electrical grid (such as thermal panels and/or photovoltaic plates) or for the production of electrical energy on a special basis, which the Tenant accepts and consents to for all purposes. 2.6 The Tenant expressly accepts the classification, rating and urban planning situation of the Building (in particular, for the purposes of the uses permitted to be implemented under this Agreement), assumes the regulatory provisions and limitations that may derive from the classification, rating and urban planning situation for the development of the Permitted Use and undertakes to comply with said regulatory provisions and limitations during the principal term of this Agreement, the breach thereof will constitute a fundamental breach. 2.7 In 4.2 The University or the event JIZMD bear no responsibility whatsoever towards the Lessee including in all aspects relating to the adaptation of the Premises for its purpose and in all aspects relating to the Lessee’s ability to obtain a business licence and/or any other permit required (hereinafter: “Business Licence”) that one or more Additional Requirements are imposed, is required for the Tenant undertakes from now on to bear Lease Purposes of the costs that may derive Premises. 4.3 The Lessee is solely responsible for obtaining a Business Licence from the execution competent authority, at its own expense. Failure to obtain a Business Licence will not entitle the Lessee to terminate or implementation suspend the Agreement of said Additional Requirements Lease, and the Lessee declares that it will be, notwithstanding whether it will have examined or not examined at the competent authorities its ability to obtain such a Business Licence, solely and fully responsible for the issuance of the Business Licence and the same will not constitute any cause for the termination or suspension of the Agreement of Lease. 4.4 The Lessee undertakes to pay them within fifteen (15) Business Days of receipt manage the business at the Premises, according to the Lease Purpose, lawfully and in accordance with any lawful permit and licence. 4.5 If the competent authority will subject the grant of the corresponding payment request from Business Licence and/or the Landlord. The Completion Date extension thereof to the making of changes at the Landlord’s Works Premises, then the Lessee will be postponed for required to obtain the period necessary to comply with the Additional Requirements. 2.8 The Tenant agrees to collaborate with the Landlord to the extent that such collaboration is necessary for the completion of the LandlordUniversity’s Works and the processing of the License of Occupation. The Tenant agrees to make available to the Landlord all plans JIZMD’s consent in advance and specifications of the Conditioning Works that the Landlord may require. 2.9 During the execution of the Landlord’s Works, the Tenant may request the Landlord to make constructive modifications to the Property (the “Work Modifications”). The Landlord may refuse to make such Work Modifications if they differ materially from the conditions and limits established in the Technical Specifications. The Landlord shall inform the Tenant of both the price and term of execution of the Work Modifications and the impact that the Work Modifications may have on the Landlord’s Works Completion Datewriting. If the Parties reach an agreement on Lessee will be unable to obtain a licence following the price, term and scope University’s or JIZMD’s refusal to the making of the Work Modificationschanges, they must confirm said agreement in writing by formalizing a Change Order. If the execution this Agreement will be null and void without any right of action of the Work Modifications affects parties against one another. Only if the Completion DateLessee obtains the University’s JIZMD’s prior consent in advance and in writing, will be it entitled to make the Parties shall establish the new Landlord’s Works Completion Date in the Change Order. The Landlord shall not be obliged to initiate the Work Modifications until the corresponding Change Order has changes that will have been formalized between the Parties. 2.10 The Landlord shall execute the Work Modifications at its own expense for the price agreed in the Change Order (the “Work Modification Costs”). Unless otherwise agreed approved by the Parties, University and the Work Modification Costs shall be taken into account in the calculation of the Supplementary Part of the Rent JIZMD in accordance with Clause 8.5. 2.11 If any a pre-approved plan in writing, by the University and the JIZMD. The making of the causes of termination of changes will be at and on the Lessee’s expense and responsibility, and the University and/or the JIZMD will have the authority to effect the works independently or inspect the performance thereof. In all aspects relating to the changes that have been made in the Premises according to this Agreement in accordance with Clauses 18.2 or 18.4 occurs before the Start Dateclause, the Landlord shall have the right to demand from the Tenant, who agrees, a conventional penalty equal to 150% of the Work Modification Costs and of the costs motivated by the Additional Requirements referred to provisions contained in Clause 2.76 hereof will similarly apply.

Appears in 2 contracts

Sources: Lease Agreement (Anchiano Therapeutics Ltd.), Lease Agreement (BioCancell Ltd.)