Term and Possession (a) Subject to and upon the terms and conditions set forth herein, the Term of this Lease shall be for the period specified in the Basic Lease Information. The Term shall commence on the earlier of (i) the date that the Premises is delivered to Tenant free and clear of any third-party occupancy and (ii) the date that Tenant first commences normal business operation from the Premises (the “Commencement Date”). In the event of the inability of Landlord to deliver possession of the Premises for any reason whatsoever, including, without limitation, the vacating of the Premises by the prior tenant of the Premises, neither Landlord nor its agents shall be liable for any damage caused thereby, nor shall this Lease thereby become void or voidable, however, in such event Tenant shall not be liable for any rent until the actual occurrence of the Commencement Date. Notwithstanding the foregoing to the contrary, if, for any reason, Landlord has not delivered possession of the Premises to Tenant as described in clause (i) above as of January 1, 2020, Tenant, as Tenant’s sole remedy, will have the right to terminate this Lease by written notice delivered to Landlord at any time prior to Landlord’s delivery of possession of the Premises to Tenant; provided, however, that such January 1, 2020 date shall be extended so long as Landlord is using its good faith and diligent efforts to deliver possession of the Premises to Tenant (by unlawful detainer or otherwise). Within thirty (30) days after the Commencement Date, Landlord and Tenant shall execute an amendment to this Lease (“First Amendment to Lease and Acknowledgment”) setting forth the Commencement Date and the expiration date of the term of the Lease, which shall be in the form attached hereto as Exhibit B.
(b) Tenant shall have the one-time option to terminate and cancel the Lease effective on the last day of the eighty-fifth (85th) month after the Commencement Date (the “Termination Date”), which right is contingent upon Tenant paying to Landlord the “Termination Consideration” (as defined below) concurrent with Tenant’s delivery of the Termination Notice (as defined below). To exercise such termination option, Tenant must deliver to Landlord on or before January 1, 2025, irrevocable written notice of Tenant’s exercise of such option (the “Termination Notice”) and the amount of the Termination Consideration. As used herein, the “Termination Consideration” shall mean the amount equal to Two Million and No/100ths Dollars ($2,000,000.00). Failure by Tenant to timely pay the Termination Consideration shall terminate Tenant’s option to terminate this Lease. If Tenant properly and timely exercises the termination option in this Section 4(b), this Lease shall expire at midnight on the Termination Date and Tenant shall be required to surrender the Premises to Landlord on or prior to such Termination Date in accordance with the applicable provisions of this Lease. The option to terminate set forth in this Section 4(b) is personal to the original Tenant executing this Lease and may not be assigned, voluntarily or involuntarily, separate from or as part of this Lease. At Landlord’s option, all rights of Tenant under this Section 4(b) shall terminate and be of no force or effect if any of the following individual events occur or any combination thereof occur: (1) Tenant has been in default beyond any notice and cure period on more than one (1) occasion during any consecutive twelve (12) month period during the initial Term of the Lease, or is in default of any provision of this Lease on the date Landlord receives the Termination Notice; and/or (2) Tenant has assigned its rights and obligations under all or part of this Lease; and/or (3) Tenant has failed to exercise the early termination option set forth in this Section 4(b) in a timely manner and in strict accordance with the provisions of this Section 4(b).
LOCATION AND DESCRIPTION OF THE PROPERTY The subject property is a four-bedroom condominium with two car parking bays bearing postal address of C-33A-09, Residensi Bayan Desa Petaling, ▇▇. ▇▇▇, ▇▇▇▇▇ ▇/▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇. The subject property will be sold on an “as is where is basis” and subject to a reserve price of RM630,000.00 (RINGGIT MALAYSIA SIX HUNDRED THIRTY THOUSAND ONLY) and subject to the Conditions of Sale and by way of an Assignment from the above Assignee/Bank subject to the consent being obtained by the Purchaser from the Developer and other relevant authorities if any, including all terms, conditions, stipulations and covenants which were and may be imposed by the Developer and the relevant authorities. Any arrears of quit rent, assessments and service or maintenance charges which may be lawfully due to any relevant authority or the Developer up to the date of auction sale of the property shall be paid out of the purchase money upon receipt of full purchase price. All other fees, costs and charges relating to the transfer and assignment of the property shall be borne by the successful Purchaser. Online bidders are further subject to the Terms & Conditions on ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. All intending bidders are required to deposit 10% of the fixed reserve price for the said property by Bank Draft or Cashier‟s Order in favour of UOBM for ▇▇▇ ▇▇▇▇ ▇▇▇▇ or remit the same through online banking transfer, one (1) working day before auction date. The balance of the purchase money shall be paid by the Purchaser within one hundred and twenty (120) days from the date of auction sale to UNITED OVERSEAS BANK (MALAYSIA) BHD via Real Time Electronics Transfer of Funds and Securities (▇▇▇▇▇▇). For online bidders please refer to the Terms & Conditions on ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ on the manner of payment of the deposit. FOR FURTHER PARTICULARS, please contact M/S ▇▇▇ ▇▇▇▇▇▇▇ & Partners, of 27th Floor, Menara KH, ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇. (Ref No.: KW/298-154/2023/UOB/LFY, Tel No.: ▇▇-▇▇▇▇▇▇▇▇, Fax No.: ▇▇-▇▇▇▇▇▇▇▇) the Assignee herein or the undermentioned Auctioneer. Suite C-20-3A, Level 20, Block C, Megan Avenue II, / ▇▇▇▇▇ ▇▇▇▇▇ BIN ▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇, 50450 Kuala Lumpur (Licensed Auctioneers) Tel No.: ▇▇-▇▇▇▇ ▇▇▇▇ Fax No.: ▇▇-▇▇▇▇ ▇▇▇▇ Our Ref: AZWA/UOB0859/NHP(2) Website: ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ E-mail: ▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Dalam menjalankan ▇▇▇ ▇▇▇ kuasa ▇▇▇▇ telah diberikan kepada Pihak Pemegang Serahhak/Bank dibawah Perjanjian Pinjaman, Suratikatan Penyerahanhak ▇▇▇ Surat Kuasa Wakil kesemuanya bertarikh 28hb November, 2017 diantara Pihak Penyerahhak, Pihak Pelanggan ▇▇▇ Pihak Pemegang Serahhak/Bank yang diperbuat dalam perkara diatas, adalah dengan ini diisytiharkan bahawa Pihak Pemegang Serahhak/Bank tersebut dengan bantuan Pelelong yang tersebut dibawah.
CLOSING AND POSSESSION This Contract shall be closed on or before FEBRUARY 20, 2025, or at such other time as may be mutually agreed in writing. Possession is subject to the right of any tenants in possession. The parties agree that possession of said property is to be delivered to Buyer on or before FEBRUARY 20, 2025. Seller will / will not (strike one), subject to tenant in possession rights, agree to allow Buyer the right, following fall harvesting, to enter the farm property for the purpose of performing land husbandry, customary tillage, application of fertilizer and lime, soil conservation practices and soil testing.
RELOCATION OF PREMISES Landlord shall have the right to relocate the Premises to another part of the Building in accordance with the following:
a. The new premises shall be substantially the same in size, dimensions, configuration, decor and nature as the Premises described in this Lease, and if the relocation occurs after the Commencement Date, shall be placed in that condition by Landlord at its cost.
b. Landlord shall give Tenant at least thirty (30) days written notice of ▇▇▇▇▇▇▇▇'s intention to relocate the Premises.
c. As nearly as practicable, the physical relocation of the Premises shall take place on a weekend and shall be completed before the following Monday. If the physical relocation has not been completed in that time, Base Rent shall ▇▇▇▇▇ in full from the time the physical relocation commences to the time it is completed. Upon completion of such relocation, the new premises shall become the "Premises" under this Lease.
d. All reasonable costs incurred by Tenant as a result of the relocation shall be paid by Landlord.
e. If the new premises are smaller than the Premises as it existed before the relocation, Base Rent shall be reduced proportionately.
f. The parties hereto shall immediately execute an amendment to this Lease setting forth the relocation of the Premises and the reduction of Base Rent, if any.
Possession and Use Contractor may possess, use and reproduce Confidential Information solely for the Purpose. Contractor shall not use the Confidential Information for any other purpose.