Common use of Second Floor Premises Clause in Contracts

Second Floor Premises. Subject to the rights of any existing tenants, upon written notice to Landlord, Tenant shall have the right to add to the Premises that certain space on the second floor of the Building consisting of approximately 3,016 and specifically identified in the Expansion Premises Plan provided at Exhibit A-l (the “Second Floor Premises”). Landlord shall deliver the Second Floor Premises to Tenant in its current as-is condition. On the date the Landlord delivers the Second Floor Premises to the Tenant, Tenant shall pay to Landlord: (i) all additional rent (including, without limitation, Tenant’s Proportionate Share of Taxes, Tenant’s Office Space Proportionate Share, and Tenant’s Manufacturing and Storage Space Share), in addition to annual fixed rental, on the Second Floor Premises as set forth in the Existing Lease, and (ii) an annual fixed rental, without offset or deduction, on the Second Floor Premises in accordance with the terms of the Existing Lease as follow: Lease Year Annual Fixed Rental Rate Annual Fixed Rental Monthly Fixed Rental 1 $ 14.25 $ 42,978.00 $ 3,581.50 2 $ 14.61 $ 44,063.76 $ 3,671.98 3 $ 14.97 $ 45,823.17 $ 3,818.60 4 $ 15.35 $ 46,295.60 $ 3,857.97 5 $ 15.73 $ 47,441.68 $ 3,953.47 6 $ 16.12 $ 48,617.92 $ 4,051.49 7 $ 16.53 $ 49,854.48 $ 4,154.54 Tenant shall be entitled to an allowance for work to be performed by Tenant in the Second Floor Premises in an amount equal to the lesser of: (i) $76,525.00, or (ii) the actual cost of such work, as reasonably evidenced by Tenant to Landlord. Landlord shall pay such an allowance to Tenant upon the completion of such work. For the sake of clarity, the allowance to be paid pursuant to this Section 10 is not included in the Tenant Improvement Allowance (as hereinafter defined). Landlord warrants that rights of existing tenants have not changed from Exhibit F of the Existing Lease. Notwithstanding the foregoing, Tenant acknowledges that Liberty Mutual has the right to use the Second Floor Premises as swing space during the performance of Liberty Mutual’s buildout. Provided that Tenant delivers written notice to Landlord exercising Tenant’s option on the Second Floor Premises on or before January 1, 2018, Landlord shall deliver the Second Floor Premises to Tenant no later than February 1, 2018. Landlord has requested a waiver from an existing tenant which has first offer rights on the Second Floor Premises, which rights must be exercised on or before September 15, 2017 or shall be deemed waived.