Common use of Size of Premises Clause in Contracts

Size of Premises. The size of Premises will be determined on the basis of the standards set forth in Exhibit E attached hereto. With regard to Base Rent, Operating Expenses, and with regard to all other payments which are computed based upon the rentable area of the Premises, it is understood that the amounts payable as set forth in this Lease are predicated upon assumed rentable area set forth in this Lease. Not later than ninety (90) days after the Commencement Date, an exact measurement of the rentable area of the Premises shall be made in accordance with Exhibit E, and if said measurement shall indicate rentable area different from that recited in this Lease, Landlord and Tenant shall promptly execute a supplemental instrument adjusting the amounts payable hereunder to conform to the exact measurements. Such adjustments shall be made by multiplying the amount subject to adjustment by a fraction, the numerator of which is the actual rentable area of the Premises and the denominator of which is the rentable area of the Premises originally set forth herein. Any payment due from either party to the other as a result of any adjustments made hereunder shall be paid promptly upon rendition of a statement by the party entitled to additional Rent, or Rent refund, as the case may be.

Appears in 2 contracts

Sources: Office Lease (Artificial Life Inc), Office Lease (Digitas Inc)

Size of Premises. The size of Premises will be determined on the basis of the standards set forth in Exhibit E attached hereto. With regard to Base Rent, Operating Expenses, and with regard to all other payments which are computed based upon the rentable area of the Premises, it is understood that the amounts payable as set forth in this Lease are predicated upon assumed rentable area set forth in this Lease. Not later than ninety (90) days after the Commencement Date, an exact measurement of the rentable area of the Premises shall be made in accordance with Exhibit E, and if said measurement shall indicate rentable area different from that recited in this Lease, Landlord and Tenant shall promptly execute a supplemental instrument adjusting the amounts payable hereunder to conform to the exact measurements. Such adjustments shall be made by multiplying the amount subject to adjustment by a fraction, the numerator of which is the actual rentable area of the Premises and the denominator of which is the rentable area of the Premises originally set forth herein. Any payment due from either party to the other as a result of any adjustments made hereunder shall be paid promptly upon rendition of a statement by the party entitled to additional Rent, or Rent refund, refund as the case may be.

Appears in 1 contract

Sources: Office Lease (Oxigene Inc)