Storage Space. At any time, from time to time, during the term of this Lease, and provided there shall not have occurred an Event of Default, Tenant may, in addition to the storage space leased to Tenant pursuant to the last sentence of this Section I, upon thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Date.
Appears in 1 contract
Sources: Lease Agreement (Viatel Inc)
Storage Space. At Tenant shall have the right to occupy approximately 15,000 square feet of space on the lower level of the Building as identified on Exhibit B-1 hereto (the "Storage Space") to be used for storage in connection with Tenant's business. The term with respect to the Storage Space shall commence on the date on which Landlord makes the Storage Space available to Tenant (the "Storage Space Commencement Date") and shall terminate on the Expiration Date. Tenant shall not pay any timeFixed Annual Rent for the use of the Storage Space, from but except as otherwise provided in this Section 20.27, all of the other provisions of this Lease shall apply as if the Storage Space were a part of the Premises, except that the Storage Space shall not be included in the calculation of Rentable Square Feet for the purpose of determining Tenant's Share. Tenant shall pay to Landlord as an additional charge for electricity supplied to the Storage Space, an amount determined in accordance with Article 16 of this Lease; provided, however, that if the Storage Space is not separately metered, then such charge shall be equal to Landlord's actual costs of providing electricity to the Storage Space, as reasonably allocated by Landlord based on a submeter or other reasonable allocation. Landlord shall not be required to provide any services (such as, without limitation, cleaning) to the Storage Space, and the Storage Space shall not be included in calculating Tenant's Share. Tenant shall accept the Storage Space in its "as is" condition. Tenant shall be permitted to make alterations to the Storage Space at Tenant's sole expense, subject to the conditions set forth in Article 8 of this Lease, provided that Tenant shall remove any such alterations as directed by Landlord at the termination of this Lease, to the extent that Landlord so requires in accordance with Article 8. Tenant's right to occupy the Storage Space hereunder is a license otherwise upon the same terms and conditions set forth in this Lease, revocable by Landlord at any time to time, during upon the term occurrence of an Event of a Default by Tenant under the terms of this Lease, and provided there shall not have occurred an Event of Default, Tenant may, in addition be construed to the storage space leased to Tenant pursuant to the last sentence of this Section I, upon thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to a lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Date.
Appears in 1 contract
Sources: Lease Agreement (Etre Reit, LLC)
Storage Space. A. During the initial Term and any renewal thereof, Landlord agrees to lease to Tenant and Tenant accepts the space containing approximately (a) 800 square feet on the ground floor of the Building, (b) 400 square feet on the ground floor of the Building, and 65 square feet on the ground floor of the Building, as shown on EXHIBIT A-5 attached hereto (collectively, the "Storage Space"). However, notwithstanding the foregoing, the portion of the Storage Space described above containing approximately 400 rentable square feet shall not be leased to Tenant until such space becomes available, which is scheduled to occur on or about February 1, 2000. Further, the portion of the Storage Space containing 65 square feet described above is available for lease to Tenant only if Tenant pays Landlord the reasonable cost to install a demising wall and door to separately demise such space. In addition to the Storage Space described above, Tenant shall have an option to lease an additional approximately 800 square feet of storage space, located on the ground floor of the Building as shown on EXHIBIT A-6 attached hereto (the "Option Storage Space") when such Option Storage Space becomes available. Tenant shall exercise the foregoing option as follows: When Landlord informs Tenant that the Option Storage Space is available for lease by Tenant (but prior to leasing the Option Storage Space to any party other than the current occupant of such space or its successors or assigns), Tenant may elect to lease such space, upon the terms and conditions contained in this Section VII (in which event, the Option Storage Space shall be included within the definition of Storage Space hereunder), by providing written notice to Landlord within 7 days after Tenant's receipt of the notice from Landlord. Failure to provide such written notice to Landlord within the 7 day period shall be deemed a waiver of Tenant's option rights with respect to the Option Storage Space. The Storage Space shall be used by Tenant for the storage of equipment, inventory or other non-perishable items normally used in Tenant's business, and for no other purpose whatsoever. Tenant agrees to keep the Storage Space in a neat and orderly fashion and to keep all stored items in cartons, file cabinets or other suitable containers. All items stored in the Storage Space shall be elevated at least 6 inches above the floor on wooden pallets, and shall be at least 18 inches below the bottom of all sprinklers located in the ceiling of the Storage Space, if any. Tenant shall not store anything in the Storage Space which is unsafe or which otherwise may create a hazardous condition, or which may increase Landlord's insurance rates, or cause a cancellation or modification of Landlord's insurance coverage. Without limitation, Tenant shall not store any flammable, combustible or explosive fluid, chemical or substance nor any perishable food or beverage products, except with Landlord's prior written approval. Landlord reserves the right to adopt and enforce reasonable rules and regulations governing the use of the Storage Space from time to time. Upon expiration or earlier termination of this Lease or Tenant's rights under this Section, Tenant shall completely vacate and surrender the Storage Space to Landlord in accordance with the terms of this Lease. Without limitation, Tenant shall leave the Storage Space in the condition in which it was delivered to Tenant, reasonable wear and tear excepted, broom-clean and empty of all personalty and other items placed therein by or on behalf of Tenant.
B. Tenant shall pay rent for the Storage Space ("Storage Rent") in the sum of $12.00 per square foot, per month, payable in advance on or before the first day of each month of the Term. Any partial month shall be appropriately prorated. Upon each and every anniversary of the Commencement Date during the initial Term and any renewal thereof, the Storage Rent shall increase by 2%, rounded to the nearest dollar, from the rate in effect at the end of the immediately preceding year. All Storage Rent is deemed Rent under this Lease. The Storage Rent shall be payable in the same manner that Base Rent is payable under the Lease.
C. All terms and provisions of the Lease shall be applicable to this Agreement, including, without limitation, Article XIV (Indemnity and Waiver of Claims) Article XV (Tenant's Insurance), and Article XXI (Limitation of Liability) except that Landlord need not supply air-cooling, heat, water, janitorial service, cleaning, passenger elevator service, window washing or electricity (other than electricity for standard storage space overhead lighting) to the Storage Space and Tenant shall not be entitled to any work allowances, rent credits, expansion rights or renewal rights with respect to the Storage Space unless such concessions or rights are specifically provided for herein with respect to the Storage Space. Other than in connection with, and to the extent of, Landlord's gross negligence and willful misconduct, Landlord shall not be liable for any theft or damage to any items or materials stored in the Storage Space, it being understood that Tenant is using the Storage Space at its own risk. Any default by Tenant under the Lease remaining uncured for a period extending beyond the expiration of any applicable cure period shall be a default under this Section VII; any default by Tenant under this Section VII shall be a default under this Lease; and the provisions of the Lease with respect to Tenant defaults shall apply to any default by Tenant hereunder. The Storage Space shall not be included in the determination of Tenant's Pro Rata Share under the Lease nor shall Tenant be required to pay Expenses or Taxes in connection with the Storage Space.
D. Tenant agrees to accept the Storage Space in its condition and "as-built" configuration existing on the earlier of the date Tenant takes possession of the Storage Space or the Commencement Date.
E. At any time, time and from time to time, during Landlord shall have the term right to relocate the Storage Space to a new location which shall be no smaller than the square footage of the Storage Space. Landlord shall pay the direct, out-of-pocket, reasonable expenses of such relocation.
F. If Tenant assigns the Lease or sublets all or any part of the Premises other than to a Permitted Transferee (as described in Article XII of this Lease), and provided there shall not have occurred an Event Landlord, at its option, may cancel Tenant's rights under this Section VII effective as of Default30 days after notice to Tenant. Additionally, notwithstanding anything set forth in Article XII of the Lease to the contrary, Tenant mayshall not, in addition to without the storage space leased to Tenant pursuant to the last sentence of this Section I, upon thirty (30) days prior written notice to consent of Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which consent may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord withheld in Landlord's sole discretion. Tenant's notice shall also state , assign, sublease, transfer or encumber the term for which Tenant elects to lease such storage space. In consideration thereforStorage Space or grant any license, commencing on concession or other right of occupancy or permit the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all use of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable Storage Space by any party other than Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Datea Permitted Transferee.
Appears in 1 contract
Storage Space. At any time, from time to time, during the term of this Lease, and provided there shall not have occurred an Event of Default, Tenant may, in addition to the storage space leased to Tenant pursuant to the last sentence of this Section I, upon thirty (30a) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement Effective as of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space)Extended Term Commencement Date, Tenant shall pay to Landlordlease the Additional Storage Space, and the term the “Storage Space”, as defined in addition to Rent and all other sums payable by Tenant to Landlord under the Original Lease, a per annum amount, payable shall include the Existing Storage Space and the Additional Storage Space containing 2,051 square feet in equal monthly installments, equal the aggregate. The Additional Storage Space is subject to all the terms and conditions of the Amended Lease with respect to the product Existing Storage Space.
(b) So long as Tenant does not interfere with the completion of any work required to be performed by Landlord (xincluding the Landlord’s Work), Landlord shall use reasonable efforts to give Tenant access to the Additional Storage Space for approximately four (4) months prior to the number Extended Term Commencement Date (the "Early Access Period") for storage purposes, as provided in Section 31.24 of square feet leased, multiplied the Original Lease. Tenant shall fully cooperate with Landlord and ▇▇▇▇▇▇▇▇'s contractor during the Early Access Period so as not to interfere with Landlord’s completion of the Landlord’s Work and any other work required to be performed by (y) Landlord. Tenant’s access to the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space Additional Storage Space shall be held by Tenant subject to all of the terms, covenants terms and conditions of this Lease the Amended Lease, except that Tenant will not be obligated to pay Storage Space Rental for the Additional Storage Space during the Early Access Period. If Tenant fails to cooperate with Landlord and/or Landlord’s contractor during the Early Access Period and/or if Tenant interferes with Landlord’s completion of the Landlord’s Work, Landlord shall have the right, in its sole option, to rescind Tenant’s access to the Additional Storage Space until the Extended Term Commencement Date and/or to deem such interference a Tenant Delay.
(ic) ▇▇▇▇▇▇’s leasing of the Existing Storage Space is hereby extended such that it shall expire as of the Extended Term Expiration Date. The Term of Tenant’s leasing of the Additional Storage Space shall be coterminous with Tenant’s leasing of the Existing Storage Space and the Premises, as the same may be extended.
(d) Landlord shall have no escalations under Article 28 obligation whatsoever to improve the Additional Storage Space and the Existing Storage Space or to otherwise fund any improvements to the Additional Storage Space and the Existing Storage Space, and Tenant hereby accepts the Additional Storage Space and the Existing Storage Space in their current AS-IS condition with the exception of that certain storage space work (if applicable) detailed on the plans and specifications attached hereto as Exhibit B.
(e) Tenant shall pay the following Storage Space Rental with respect to the Storage Space (i.e., the combined Existing Storage Space and the Additional Storage Space): Period of Extended Term Monthly Storage Space Rental 12/1/23 – 11/30/24 $3,076.50 12/1/24 – 11/30/25 $3,168.80 12/1/25 – 11/30/26 $3,263.86 12/1/26 – 11/30/27 $3,361.77 12/1/27 – 11/30/28 $3,462.63 12/1/28 – 3/31/29 $3,566.51 All such Storage Space Rental shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of accordance with the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement DateAmended Lease.
Appears in 1 contract
Sources: Multi Tenant Office Lease
Storage Space. At any time, from time Tenant's request and to time, during the term of this Lease, and provided there shall not have occurred an Event of Default, Tenant mayextent available (as determined by Landlord in its sole discretion), in addition to the office portion of the Premises, Landlord shall lease to Tenant storage space leased (the "Storage Space") of a size and in an area in the Building designated by Landlord and reasonably acceptable to Tenant pursuant to Tenant. Landlord shall have the last sentence right, by delivery of this Section I, upon thirty (30) 60 days prior written notice notice, to Landlord, elect relocate Tenant's Storage Space to use up to 2,000 additional square feet of other storage space in the basement Building of comparable size, utility and access to the original Storage Space. If Tenant leases the Storage Space from Landlord, the Storage Space shall constitute part of the Building, which may be used by Tenant for storage only and for no other purpose, Premises; provided, however, such space is available, which availability Landlord shall not be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects obligated to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented furnish any Building services with respect to the availability of such space)Storage Space other than freight elevator service in common with other tenants in the Building on a first come, first served basis, and Building standard electric lighting, and Tenant shall accept the Storage Space in its "as is" condition. Throughout the initial Term, Tenant shall pay to Landlord, in addition to Basic Rent and all other sums payable by Tenant to Landlord under for the Lease, Storage Space on a per annum amount, payable in equal monthly installments, equal to basis at the product annual rate of (x) the number of square feet leased, multiplied by (y) the then applicable rate $20.00 per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenantfoot, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement shall not be obligated to pay Escalation Charges with respect to such space the Storage Space. EXHIBIT H CLEANING SPECIFICATIONS SERVICE TO TENANT AREAS FREQUENCY ----------------------- --------- Empty all waste baskets and trash containers and remove refuse to 5/week trash disposal area. Clean exterior surfaces of waste baskets and trash containers to 2/month remove any residue. Empty, clean and damp wipe all ash trays and cigarette urns. 5/week Dust all mid-range furniture, file cabinets and desktops. 5/week High dusting. 1/week Low dusting. 1/week Clean and disinfect telephones. 1/week Damp wipe sink/coffee bar areas. 5/week Spot clean all glass, polished chrome and aluminum, brass, bronze 1/week and stainless steal to remove dirt, fingerprints and smudges. Wipe all doors facing, doors, light switch and receptacle covers, 1/month walls and partitions as needed to remove dust, dirt, smudges, stains and fingerprints. Dust all wood paneling to remove dust. 4/year Vacuum all fabric-covered walls to remove dust. 4/year Vacuum all upholstered or fabric-covered furniture. 1/month Damp wipe all vinyl-covered furniture. 1/month Dust and clean overhead vents to remove dust and dirt. 1/month Damp wipe door knobs. 1/week Dust Venetian blinds. 2/year Clean metal kickplates to remove dust, dirt, stains, smudges and 2/month scuff and heel marks. Vacuum high traffic carpeted areas. 5/week Detail vacuum corners, edges and under furniture. 1/month Spot clean carpets to remove spills, spots and stains. Normal wear 1/week and tear accepted. Dust mop all hard surface floors and wet wipe spots. 3/week Wet mop all hard surface floors. 1/week Polish all floor surfaces with a heavy duty commercial buffer. 1/month Refinish all floor surfaces with two coats of non-skid premium 2/years quality floor finish. FIRST AMENDMENT TO LEASE THIS FIRST AMENDMENT TO LEASE (bthis "AMENDMENT") no Rent shall be payable in respect is made as of such space until the Rent Commencement Date8th day of September, 2004, by and between 200 WEST ▇▇▇▇▇▇▇ OWNER LLC, a Delaware limited liability company ("LANDLORD"), and COMPBENEFITS DENTAL AND VISION COMPANY, a Florida corporation ("TENANT").
Appears in 1 contract
Sources: Lease (Compbenefits Corp)
Storage Space. At any time, from time Landlord shall reserve up to time, five thousand 5,000 square feet of storage space for lease by Tenant during the term Lease Term (the “Storage Space”). The Storage Space shall be located in one or more private rooms selected by Landlord in the On-Site Parking Area designated on Exhibit P attached hereto. Tenant shall have the right to increase or decrease (but not in excess of this Leasethe 5,000 square foot limit set forth above) the amount of Storage Space leased by Tenant on thirty (30) days written notice to Landlord. The Storage Space described above required to be provided by Landlord to Tenant shall be leased at a rental rate equal to ( ) per usable square foot per month during the Lease Tenn. Notwithstanding the foregoing, and provided there shall not have occurred an Event of Default, Tenant may, to the extent that any Storage Space in addition to the Storage Space required to be reserved by Landlord for Tenant’s use hereunder shall become available for use by tenants of the Building, Landlord agrees that Tenant shall have the right, upon written notice to Landlord, to lease such additional Storage Space on a month-to-month basis to the extent and for the duration that Landlord does not require the use of such additional Storage Space by other tenants in the Building or for another purpose. Any such additional Storage Space shall be leased at a rental rate equal to ( ) per usable square foot per month. The Storage Space rental amounts shall be due on a monthly basis concurrent with Tenant’s payment of the Base Rent due with respect to the Premises, and shall constitute Rent under the Lease. All Storage Space leased by Tenant shall be in a condition reasonably suitable for use as storage space leased space. Tenant acknowledges that Landlord, by providing Tenant with the Storage Space is not assuming the responsibility to ensure the security of or provide security for the Storage Space, and Tenant hereby waives all claims against Landlord for damage to or theft of any property stored by Tenant in the Storage Space, except to the extent caused by the negligence or willful misconduct of Landlord or Landlord’s agents, contractors or representatives. Landlord shall deliver the Storage Space to Tenant pursuant in its “as-is” condition, without any obligation on the part of Landlord to remodel, refurbish or otherwise improve the last sentence of this Section IStorage Space, provided that the Storage Space shall have a ceiling, walls, a door and lighting. Landlord shall have the right, not more than once per calendar year, upon thirty (30) days days’ prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in to relocate the basement Storage Space to another area of the Building upon all of approximately the same aggregate square footage as the Storage Space; in the event of such relocation of the terms Storage Space, Landlord shall pay Tenant’s actual costs of this Section I except that (a) Landlord hereby waives moving materials stored in the thirty (30) day notice requirement with respect Storage Space to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Datereplacement Storage Space.
Appears in 1 contract
Storage Space. At any timeEffective as of the Second Floor Commencement Date, from time Landlord hereby leases to timeTenant certain additional space containing approximately 1,000 rentable square feet in such areas as more particularly designated on Schedule ▇- ▇ ▇▇▇▇▇▇▇▇ hereto. In addition, during Landlord hereby grants to Tenant the term right to lease certain additional storage space in such areas of this Leasethe Project as are designated for storage by Landlord on a first-come, first-served basis (the initial storage space and provided there shall not have occurred an Event of Default, Tenant may, in addition to the additional storage space leased to Tenant pursuant by Landlord, if any, are collectively the "Storage Space"). Tenant may exercise its option to lease additional Storage Space from time to time throughout the term of the Lease by giving written notice to Landlord of its desire to lease the same, which notice shall be conditioned upon the availability of the desired space. Tenant shall pay Landlord an annual rental for the Storage Space (the "Storage Rent") equal to $10.25 per rentable square foot of GLA of the Storage Space, adjusted annually at the rate of 2 1/2% per annum. The Lease Years for Storage Space shall be concurrent with the Lease Years for the Premises. No janitorial or trash removal services shall be provided to the last sentence Storage Space. No other charges shall be applied, as Additional Rent or otherwise, to the Storage Space, except for charges incurred by Landlord in enforcing its rights relating to the Storage Space under this Lease, in accordance with the terms of this Section ILease. The Tenant shall have the option, exercisable at any time during the Term, to cancel its lease of the Storage Space, upon thirty (30) days days' prior written notice to the Landlord. Except as provided in this Section 2.1(b), elect to use up to 2,000 additional square feet the terms and conditions of space in the basement Tenant's occupancy of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability Storage Space shall be determined by Landlord as set forth in Landlord's sole discretionthis Lease. Tenant's notice The Storage Space shall be leased in its absolute "AS IS" condition. There shall also state be no core factor for the term for which Tenant elects to lease such storage space. In consideration thereforStorage Space (i.e., commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant usable areas shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, be equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Daterentable area).
Appears in 1 contract
Storage Space. A. From and after the Rent Commencement Date, Tenant shall have the right, subject to the terms and conditions of this Section VI, to lease the storage and auxiliary spaces identified on Schedule E-1 attached hereto and made a part hereof (the “Storage Space”). Landlord may prepare and Tenant will execute a separate storage space agreement that is consistent with the terms of this Section VI and otherwise mutually acceptable to Landlord and Tenant. Tenant will pay rent for the Storage Space at an annual rate of Twelve and 00/100 Dollars ($12.00) per rentable square foot of the Storage Space (the “Storage Space Rent”), except Tenant shall have no obligation to pay Landlord any rent for the use of the space in the MPOP (as defined below). The Storage Space Rent shall increase at a rate of Twenty-Five Cents ($0.25) per year on the first anniversary of the Rent Commencement Date and each subsequent anniversary thereafter (or, if a separate storage space agreement is entered into, on the first anniversary of the commencement date of the separate storage space agreement and each subsequent anniversary thereafter). The Storage Space Rent shall be payable in monthly installments at the same times and in the same manner as the payment of Rent under the Lease. The Storage Space will be leased to and accepted by Tenant in its current “as is”, “as-built” condition, without any obligation by Landlord to make any modifications or improvements to the Storage Space.
B. The Storage Rooms (as defined on Schedule E-1) shall be used by Tenant for the storage of equipment, inventory or other non-perishable items normally used in Tenant’s business, and for no other purpose whatsoever. Tenant agrees to keep the Storage Rooms in a neat and orderly fashion and to keep all stored items in cartons, file cabinets or other suitable containers. All items stored in the Storage Rooms shall be elevated at least 6 inches above the floor on wooden pallets, and shall be at least 18 inches below the bottom of all sprinklers located in the ceiling of the Storage Rooms, if any. Tenant shall not store anything in the Storage Rooms which is unsafe or which otherwise may create a hazardous condition, or which may increase Landlord’s insurance rates, or cause a cancellation or modification of Landlord’s insurance coverage. Without limitation, Tenant shall not store any flammable, combustible or explosive fluid, chemical or substance nor any perishable food or beverage products, except with Landlord’s prior written approval. Landlord reserves the right to adopt and enforce reasonable rules and regulations governing the use of the Storage Rooms from time to time. Upon expiration or earlier termination of the Term of this Lease, Tenant shall completely vacate and surrender the Storage Rooms to Landlord in the condition that existed on the Effective Date, ordinary wear and tear excepted, broom-clean and empty of all personalty and other items placed therein by or on behalf of Tenant. Tenant’s sole access to Storage Room 3103A is through storage spaces 3103 and 3151, which Landlord leases to U.S. Bank. Landlord has been advised that Tenant intends to continue to access Storage ▇▇▇▇ ▇▇▇▇▇ through storage spaces 3103 and 3151 during the Term of this Lease and any extension thereof subject to the consent of U.S. Bank. Tenant acknowledges and agrees that Landlord will have no liability to Tenant in the event U.S. Bank restricts or prevents Tenant’s access to or use of Storage ▇▇▇▇ ▇▇▇▇▇. If U.S Bank restricts or prevents Tenant’s access to or use of Storage ▇▇▇▇ ▇▇▇▇▇, on not less than thirty (30) days written notice to Landlord, this Lease shall be terminated with respect to Storage ▇▇▇▇ ▇▇▇▇▇.
C. All terms and provisions of the Lease shall be applicable to the Storage Rooms, including, without limitation, Article XIV (Indemnity and Waiver of Claims) and Article XV (Tenant’s Insurance), except that, with respect to the Storage Rooms, Tenant shall not be obligated to pay any Rent (except as provided in Paragraph A of this Section VI), Landlord need not supply air-cooling, heat, water, janitorial service, cleaning, passenger or freight elevator service, window washing or electricity to the Storage Rooms and Tenant shall not be entitled to any allowances, rent credits, or expansion rights with respect to the Storage Rooms. Landlord shall not be liable for any theft or damage to any items or materials stored in the Storage Rooms, it being understood that Tenant is using the Storage Rooms at its own risk. The Storage Rooms shall not be included in the determination of Tenant’s Pro Rata Share under the Lease nor shall Tenant be required to pay Expenses in connection with the Storage Rooms.
D. At any time and from time to time, Landlord shall have the right, on not less than sixty (60) days prior written notice to Tenant, to relocate the Storage Rooms to a new location in the Building which shall be no smaller than the square footage of the Storage Rooms. Landlord shall pay the direct, out-of-pocket, expenses of such relocation.
E. With respect to the Auxiliary Rooms (as defined on Schedule E-1), Landlord shall deliver the Auxiliary Rooms in their current “as is” condition and configuration, which shall include the levels and capacities of power, cooling and other mechanical equipment which are allocated to or used by Tenant as of the Effective Date. All terms and provisions of this Lease shall be applicable to the Auxiliary Rooms, including, without limitation, Article XIV (Indemnity and Waiver of Claims) and Article XV (Tenant’s Insurance), except that Tenant shall not be obligated to pay any Rent (except as provided in Paragraph A of this Section VI) and Tenant shall not be entitled to any allowances, rent credits, or expansion rights with respect to the Auxiliary Rooms. Tenant may also use the Auxiliary Rooms for storage space purposes and/or such other installations relating to Tenant’s use of the Premises in compliance with the terms of the Lease. Without limitation to the other requirements of the Lease, Landlord and Tenant acknowledge and agree that (a) as of June 1, 2014, the major point of presence room located on Floor Parking Level One (P1) of the Building (the “MPOP”) shall be included in the definition of Common Areas, (b) Tenant’s right to use space in the MPOP are non-exclusive and in common with Landlord and other Building occupants, and (c) Tenant may use space in the MPOP for the purpose of maintaining, operating and replacing, from time to time, during the term of this Leasetelephone, data, cabling, hubs (including a fiber optics hub), switches, and provided there other telecommunications items and equipment; provided, however, Tenant shall not have occurred an Event the right to install any additional equipment or expand the existing equipment in the MPOP (collectively, “Communications Equipment”). Tenant acknowledges that the Communications Equipment in the MPOP is not secured and Landlord shall have no liability to cause the Communications Equipment to be secured or for any damage to or tampering with any of Defaultthe Communications Equipment. Further, Tenant may, also has certain Communications Equipment located in addition storage room P1B01 (the “APOP Room”) which Landlord leases to U.S. Bank. Landlord has been advised that Tenant intends to use space in APOP room during the Term of this Lease and any extensions thereof subject to the storage space leased consent of U.S. Bank. Tenant acknowledges and agrees that Landlord will have no liability to Tenant pursuant in the event U.S. Bank restricts or prevents Tenant’s access to or use of the last sentence APOP Room. The Auxiliary Rooms shall not be included in the determination of Tenant’s Pro Rata Share under this Lease nor shall Tenant be required to pay Expenses in connection with the Auxiliary Rooms.
F. At any time during the Term, Tenant may surrender any of the Storage Spaces to Landlord in accordance with the terms of this Section I, upon Lease on not less than thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in .
G. If Tenant assigns the basement Lease or sublets all or any part of the BuildingPremises (other than in connection with a Permitted Transfer, which may be used by Tenant for storage only and for no other purposeas defined in Article XII of the Lease or to an Approved User), providedLandlord, howeverat its option, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered notice to Tenant, may terminate Tenant’s rights to a that percentage of the aforesaid notice (provided Landlord has consented Storage Rooms that is equal to the availability percentage of such spacethe Premises that is sublet (rounded to the nearest 25th percent). Additionally, notwithstanding anything set forth in Article XII of the Lease to the contrary, except in connection with a Permitted Transfer, Approved User or other Transfer approved by Landlord, Tenant shall pay to not, without the prior written consent of Landlord, which consent may be withheld in addition to Rent and all Landlord’s sole discretion, assign, sublease, transfer or encumber the Storage Rooms or grant any license, concession or other sums payable by Tenant to Landlord under right of occupancy or permit the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all use of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable Storage Space by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage spaceparty other than Tenant. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Date.Exhibit E – Page 15
Appears in 1 contract
Storage Space. At Tenant shall have the right to occupy approximately 15,000 square feet of space on the lower level of the Building as identified on Exhibit B-1 hereto (the “Storage Space”) to be used for storage in connection with Tenant’s business. The term with respect to the Storage Space shall commence on the date on which Landlord makes the Storage Space available to Tenant (the “Storage Space Commencement Date”) and shall terminate on the Expiration Date. Tenant shall not pay any timeFixed Annual Rent for the use of the Storage Space, from but except as otherwise provided in this Section 20.27, all of the other provisions of this Lease shall apply as if the Storage Space were a part of the Premises, except that the Storage Space shall not be included in the calculation of Rentable Square Feet for the purpose of determining Tenant’s Share. Tenant shall pay to Landlord as an additional charge for electricity supplied to the Storage Space, an amount determined in accordance with Article 16 of this Lease; provided, however, that if the Storage Space is not separately metered, then such charge shall be equal to Landlord’s actual costs of providing electricity to the Storage Space, as reasonably allocated by Landlord based on a submeter or other reasonable allocation. Landlord shall not be required to provide any services (such as, without limitation, cleaning) to the Storage Space, and the Storage Space shall not be included in calculating Tenant’s Share. Tenant shall accept the Storage Space in its “as is” condition. Tenant shall be permitted to make alterations to the Storage Space at Tenant’s sole expense, subject to the conditions set forth in Article 8 of this Lease, provided that Tenant shall remove any such alterations as directed by Landlord at the termination of this Lease, to the extent that Landlord so requires in accordance with Article 8. Tenant’s right to occupy the Storage Space hereunder is a license otherwise upon the same terms and conditions set forth in this Lease, revocable by Landlord at any time to time, during upon the term occurrence of an Event of a Default by Tenant under the terms of this Lease, and provided there shall not have occurred an Event of Default, Tenant may, in addition be construed to the storage space leased to Tenant pursuant to the last sentence of this Section I, upon thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to a lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Date.
Appears in 1 contract
Storage Space. At Throughout the Term of the Lease, Tenant shall have a right to lease from Landlord any timestorage space in the Project which is available for lease. Initially, from Tenant shall lease 1,641 square feet of storage space in the area depicted on Exhibit O attached hereto and made a part hereof (the “Initial Storage Space”). Provided Landlord has the space available (with no obligation of Landlord to demise any space to create different sizes of storage space), Tenant shall have the right, at any time to time, during the term Term, to exchange the Initial Storage Space for other storage space in the Building (whether such space is larger or smaller than the Initial Storage Space) and to lease additional storage space from Landlord. Provided Landlord has the space available, Landlord shall deliver such storage space to Tenant within thirty (30) days of this Lease, and provided there shall not have occurred an Event of DefaultTenant’s written request therefor. In addition, Tenant may, in addition shall have the right to terminate the lease for the Initial Storage Space or any other storage space leased to by Tenant pursuant to upon the last sentence delivery of this Section I, upon thirty (30) days prior written notice to Landlord (such termination shall not preclude Tenant from thereafter exercising its rights provided in this Section 20.30 to re-lease the Initial Storage Space or lease different storage space from Landlord; provided such Initial Storage Space or different storage space is available at such time). Hereinafter, elect the Initial Storage Space and any additions to or replacements thereof shall be referred to collectively as the “Storage Space”. As of the date of this Lease, the annual rental rate for the Storage Space shall be Twelve Dollars per square foot ($12.00/sq. ft.). The rental rate for the Storage Space shall be subject to increases by Landlord from time to time (as and when such rates are increased by Landlord for similar storage space at the Project but in no event shall such increases exceed 2.5% per annum). Tenant shall use up the Storage Space solely for the storage of materials, equipment, files, records and furniture related to 2,000 additional square feet the use of the Premises. Unless otherwise terminated as provided herein, the term for the Storage Space shall commence on the Commencement Date and shall expire on the Expiration Date. Landlord shall have the right to relocate the Storage Space to other space in the basement Project provided such space is of comparable size and provided Landlord pays the reasonable moving costs in connection therewith. Landlord agrees to relocate Tenant only if Landlord needs the Storage Space in connection with performing Landlord’s obligations under the Lease. In no event shall the Storage Space be included in the calculation of Tenant’s Share and Tenant shall not be obligated to pay Operating Costs for said space. Landlord shall not provide any services to the Storage Space other than elevator access to and lighting of the BuildingStorage Space, at no cost to Tenant (other than as part of Operating Costs as provided in this Lease). Tenant shall accept the Storage Space in its “as-is” condition subject only to any latent defects in the Storage Space but excluding items of damage caused by Tenant or the Tenant Parties. Tenant shall be obligated to maintain, at Tenant’s sole cost and expense, the Storage Space and, at the end of the term for the Storage Space, Tenant shall surrender the Storage Space to Landlord in the same condition as existed as of the date of this Lease, reasonable use, wear and tear thereof and repairs which are Landlord’s obligations under Articles 8, 14 and 15 only excepted. Tenant shall remove all debris and Tenant’s Property from the Storage Space upon such surrender. Tenant shall not assign or sublet all or any part of the Storage Space unless such assignment is made in connection with a Transfer consented to by Landlord (or a Permitted Transfer) pursuant to Article 7 herein. Tenant shall not be permitted to make any alterations or improvements to the Storage Space without the prior consent of Landlord, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord withheld in Landlord's ’s sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlordmaintain the same types and amounts of insurance for the Storage Space as is required for the Premises. Except as provided in this Section 20.30 or implied by the terms hereof, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the termscovenants, covenants conditions and conditions obligations of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space set forth in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement Lease with respect to such space and (b) no Rent the Premises shall be payable in respect of such space until apply to the Rent Commencement DateStorage Space.
Appears in 1 contract
Storage Space. At (a) In addition to the Premises defined in Section 1.2 above, Landlord desires to lease to Tenant and Tenant desires to lease from Landlord additional space comprising approximately Five Hundred Fifty-Nine (559) rentable square feet of below grade space in the Building as shown on Exhibit A-3 attached hereto (hereinafter referred to as the "Storage Space"), on the all of the terms and conditions of the Lease applicable to the Premises except as specifically set forth in this Paragraph 13.
(b) Tenant shall pay to Landlord Ten and No/100 Dollars ($10.00) per rentable square foot of space in the Storage Space with respect to the Storage Space throughout the Term of the Lease. Such monthly installments of storage rent shall hereinafter be referred to as "Monthly Storage Space Rent". The Monthly Storage Space Rent will constitute Additional Rent (as defined in the Lease) and shall be due and payable, without deduction or set off, on the first (1st) day of each calendar month during the Term of the Lease commencing January 1, 2005. Tenant's obligation to pay Monthly Storage Space Rent hereunder shall be abated from the period commencing on the Commencement Date and continuing until December 31, 2004. No other amounts other than Monthly Storage Space Rent shall be abated except as expressly provided elsewhere in the Lease. If Tenant defaults under the Lease after the expiration of any timeapplicable notice and cure period prior to January 1, from time 2005, then Tenant shall no longer be entitled to time, any further abatement of Monthly Storage Space Rent. Monthly Storage Space Rent for any period during the term hereof which is for less than one (1) month shall be prorated based upon the actual number of this Leasedays of the calendar month involved.
(c) Notwithstanding anything to the contrary contained in the Lease or herein, and provided there (i) the Base Rent payable with respect to the Premises set forth in Section 1.8 of the Lease shall not have occurred an Event be applicable to the Storage Space; (ii) Monthly Storage Space Rent payable with respect to the Storage Space shall not be subject to annual escalations; (iii) neither Operating Expense increases as set forth in Section 5 of Defaultthe Lease nor the Electric Energy Charge as set forth in Section 11.6 of the Lease shall be payable with respect to the Storage Space.
(d) Tenant shall use the Premises solely for storage of office supplies, files, UPS battery packs and product samples and for no other purposes whatsoever.
(e) All property placed in the Storage Space by Tenant, its agents, or any other persons, shall be and remain at the sole risk of Tenant, its agents or other persons. Landlord shall not be liable for any damage to, or theft or loss of, such property, whether or not caused by the act or omission of any person, including Landlord or its agent, or by the bursting, leaking or overflowing of water, sewer or sprinkler pipes, plumbing fixtures, or any other act or thing, unless such damage to, or theft or loss of, such property results directly from the negligence or willful misconduct of Landlord and then only to the extent that Tenant, its agents or any other persons, are not compensated therefor by Tenant's insurance. In no event shall Landlord or its agent be liable for consequential damages.
(f) Landlord shall deliver the Storage Space with full height walls, sprinklers, appropriate lighting and a secure locked door. Except as specifically provided herein, Tenant may, hereby agrees to accept the Storage Space in addition its "as is" condition existing on the Commencement Date and Landlord shall have no obligation to construct any tenant improvements to the storage space leased Storage Space on behalf of Tenant. Tenant is not entitled to any improvement allowance pursuant to the terms of the Lease. Landlord will not provide heat, air conditioning, water, char service or any other utility or service to the Premises and the provisions of Section 11 of the Lease shall not apply to the Storage Space.
(g) Notwithstanding any provision herein or in the Lease to the contrary, the Storage Space shall not be counted in connection with, or applied to, the calculation of Tenant's Share set forth in Section 1.11 of the Lease nor the calculation of the number of parking spaces Landlord shall allocate to Tenant pursuant to the last sentence of this Section I, upon thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Date.1.13
Appears in 1 contract
Sources: Standard Office Lease (Pdi Inc)
Storage Space. At any time, from time to time, during the term of this Lease, and provided there shall not have occurred an Event of Default, Tenant may, in addition to the storage space leased to Tenant pursuant to the last sentence of this Section I, upon thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional hereby leases approximately 558 square feet of storage space in on the basement ground level of the Building, which Storage Space will be approximately as shown on Exhibit F attached to this Lease (the “Storage Space”). Beginning on the Rent Commencement Date and during the Term as the same may be used extended, Tenant shall pay Landlord annual rent for the Storage Space in an amount equal to Twenty Dollars ($20.00) per square foot multiplied by the number of square feet contained in the Storage Space. The Storage Space rent shall be deemed a part of the additional rent owed by Tenant under the Lease and Tenant shall make monthly rental payments for storage only the Storage Space at the same time, in the same form and otherwise in accordance with the terms set forth in the Lease for the payment of Annual Fixed Rent. No Expense Payment Amount shall be due or payable by Tenant on account of the Storage Space. Except as set forth in this Article to the contrary, Tenant shall lease the Storage Space upon the same terms and conditions as Tenant leases the Premises. Tenant accepts the Storage Space in “as is” condition as of the Term Commencement Date and Landlord shall have no obligation to provide any services in connection with the Storage Space, except that the Storage Space will be tendered to Tenant separately demised with drywall completed, with HVAC and electricity servicing the Storage Space, and otherwise in broom clean condition (the “Storage Condition”). Upon delivering the Storage Space to Tenant in Storage Condition, Landlord will have no obligation to make any improvements, repairs or alterations to the Storage Space. Tenant shall maintain the Storage Space at Tenant’s sole cost and expense. At the end of the Term or earlier termination hereof, Tenant shall surrender the Storage Space to Landlord in broom clean condition, normal wear and tear and damage by casualty and Landlord excepted. Tenant will not operate any equipment (electrical or otherwise) in the Storage Space. Tenant shall not assign or sublet all or any portion of the Storage Space except in connection with any assignment of this Lease or sublease of the Premises permitted under the Lease. Tenant’s insurance requirements set forth in the Lease shall also apply with respect to the Storage Space. Tenant shall have the use of the Storage Space for non-perishable and non-Hazardous Substances for the storing of personal property of Tenant and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord . Notwithstanding anything in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented this Section 12.1 to the availability contrary, effective as of such space)and following the expiration of the third (3rd) Lease Year, Tenant shall pay be entitled, upon no less than six (6) months prior written notice to LandlordLandlord to terminate the lease of the Storage Space to be effective as early as the expiration of the third (3rd) Lease Year, in addition to Rent and all other sums payable by Tenant to Landlord under which event the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all lease of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 Storage Space shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement terminate as of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable date set forth in respect of such space until the Rent Commencement DateTenant’s notice.
Appears in 1 contract
Sources: Lease Agreement (Pegasystems Inc)
Storage Space. At Landlord shall lease to Tenant, for the Storage Space Term (as defined below), space within the Building to be used and occupied by Tenant only as storage space for the FF&E identified in the Furniture Inventory List (“Storage Space”). The location of the Storage Space shall be determined in Landlord’s sole and absolute discretion provided that such space is sufficient in size to store the items listed in the Furniture Inventory List. The Storage Space shall be made available to Tenant in broom clean condition. Landlord has no obligation to make any timeimprovement to the Storage Space and Tenant’s use of the Storage Space shall at all times be in compliance with the provisions of the Lease. Tenant shall pay Landlord as rent for the Storage Space (the “Storage Space Rent”) for the first eighteen (18) months of the initial Term an amount equal $0.00 and for each month thereafter, an amount equal to $10.00 per square foot of the total Storage Space until the expiration of the Storage Space Term. The Storage Space Rent shall be payable as and when Monthly Base Rent is payable, commencing on the date that possession of the Storage Space is delivered to Tenant. Notwithstanding the foregoing, for purposes of calculating Tenant’s Proportionate Share, the Storage Space shall not be included in the rentable area of the Premises. The term for the Storage Space shall commence upon the date that possession of the Storage Space is delivered to Tenant and shall expire upon the earlier of the date when: (i) Tenant elects to exercise its First Refusal Right for the ROFR Space in accordance with ▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇, (▇▇) the term of the Lease has expired or is otherwise terminated in accordance with the terms of the Lease, and (iii) Tenant notifies Landlord in writing of its election to terminate its occupancy with respect to the Storage Space. Landlord may from time to time, during the term of this Lease, and provided there shall not have occurred an Event of Default, Tenant may, in addition to the storage space leased to Tenant pursuant to the last sentence of this Section I, time upon thirty (30) days prior written notice to LandlordTenant, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to relocate any or all of the terms, covenants and conditions of this Lease except Storage Space to other storage areas in the Building (i“New Storage Space”) no escalations under Article 28 in which event the New Storage Space shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right deemed to make any Alterations to such storage space and (iii) be the Storage Space hereunder. Landlord shall have no obligations pay the actual and reasonable expenses of physically moving Tenant’s property to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement DateNew Storage Space.
Appears in 1 contract
Sources: Lease Agreement (Interhealth Facility Transport, Inc.)
Storage Space. At Tenant shall have the option, to be exercised by written notice to Landlord on or before October 1, 2002, to lease up to 300 square feet of storage space located in the Parking Garage. If Tenant exercises its option to lease any timesuch storage space, from time then (i) Landlord shall deliver the same to timeTenant within ninety (90) days after the date of Tenant's exercise notice, during (ii) the storage space shall be delivered to Tenant with adequate lighting, a ceiling height of not less than 7 1/2 feet, framed out with unfinished sheetrock walls and with a door and a complete lock set, (iii) the storage space shall be in a maximum of two (2) areas; (iv) the term of the leasing of such storage space shall commence on the date Landlord so delivers the storage space to Tenant and, unless terminated sooner by Tenant, shall end upon the termination of this Lease, and provided there (v) Landlord and Tenant shall not have occurred an Event enter into a Storage Lease in substantially the same form and content as Exhibit I attached hereto prior to Landlord's delivery of Default, Tenant may, in addition to the Storage Space. During the portion of the term of the leasing of the storage space that occurs during the Original Term, Tenant shall pay to Landlord for such space annual rent at the rate of $7.00 per square foot of the storage space per annum. During the portion of the term of the leasing of the storage space that occurs during any Renewal Term, Tenant shall pay to Landlord for such space annual rent at a rate reasonably determined by Landlord to be the prevailing rate for storage space in the Parking Garage leased separately to Tenant pursuant other tenants of the Building (i.e., not included as part of the base rent) at the time of the commencement of such Renewal Term. The annual rent shall be payable in equal monthly installments on the first day of each calendar month falling within the term of the leasing of the storage space. There shall be no additional rent or other charges due for such storage space; accordingly, the Tenant's Proportionate Share shall not be increased to reflect the last sentence addition of this Section Ithe storage space. Tenant, upon at least thirty (30) days prior written notice to LandlordLandlord given at any time, elect to use up to 2,000 additional square feet of space in may terminate the basement term of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state leasing of the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Date.
Appears in 1 contract
Sources: Lease Agreement (KBS Real Estate Investment Trust II, Inc.)
Storage Space. At any time, (i) Provided such space is available for lease from time to time, time during the term of this Lease, and provided there shall not have occurred an Event of DefaultTerm, Tenant may, in addition will have the option to the lease from Landlord certain storage space leased to Tenant pursuant to the last sentence of this Section I, upon thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space located in the basement of the Building upon all (the “Storage Space”) on a month-to-month basis until Tenant terminates the leasing of such Storage Space; provided that in no event will the term of Tenant’s leasing of any Storage Space extend beyond the expiration or sooner termination of this Lease, such option to be exercised by written notice to Landlord (“Tenant’s Storage Exercise Notice”); promptly following delivery of Tenant’s Storage Exercise Notice, Landlord will notify Tenant of the terms location, size and configuration of any Storage Space which is then available.
(ii) Provided the Storage Space is available for lease following the date of Tenant’s Storage Exercise Notice, the Storage Space shall be delivered in its “as-is” condition and be used by Tenant for the storage of equipment, inventory or other non-perishable items normally used in Tenant’s business, and for no other purpose whatsoever. Tenant agrees to keep the Storage Space in a neat and orderly fashion and to keep all stored items in cartons, file cabinets or other suitable containers. All items stored in the Storage Space shall be elevated at least 6 inches above the floor on wooden pallets, and shall be at least 18 inches below the bottom of all sprinklers located in the ceiling of the Storage Space, if any. Tenant shall not store anything in the Storage Space which is unsafe or which otherwise may create a hazardous condition, or which may increase Landlord’s insurance rates, or cause a cancellation or modification of Landlord’s insurance coverage. Without limitation, Tenant shall not store any flammable, combustible or explosive fluid, chemical or substance nor any perishable food or beverage products, except with Landlord’s prior written approval. Landlord reserves the right to adopt and enforce reasonable rules and regulations not inconsistent with this Section I except that Lease governing the use of the Storage Space from time to time. Upon expiration or earlier termination of Tenant’s rights to the Storage Space, Tenant shall completely vacate and surrender the Storage Space to Landlord in the condition in which it was delivered to Tenant, ordinary wear and tear excepted, broom-clean and empty of all personalty and other items placed therein by or on behalf of Tenant.
(aiii) Landlord hereby waives Tenant shall pay Rent for the thirty Storage Space (30“Storage Rent”) in the amount equal to $20.00 per rentable square foot per annum in equal monthly installments, plus applicable sale and use taxes, each payable in advance on or before the first day notice requirement with respect to such space and (b) no of each month. Any partial month shall be appropriately prorated. All Storage Rent shall be payable in the same manner that Base Rent is payable hereunder.
(iv) All terms and provisions of this Lease shall be applicable to the Storage Space, except that Landlord need not supply air-cooling, heat, water, janitorial service, cleaning, window washing or electricity to the Storage Space and Tenant shall not be entitled to any allowances, rent credits, or expansion rights with respect to the Storage Space unless such concessions or rights are specifically provided for herein with respect to the Storage Space. Landlord shall not be liable for any theft or damage to any items or materials stored in the Storage Space, it being understood that Tenant is using the Storage Space at its own risk. The Storage Space shall not be included in the determination of Tenant’s Share nor shall Tenant be required to pay Operating Expenses, Insurance Expenses or Property Taxes in connection with the Storage Space.
(v) At any time and from time to time, Landlord shall have the right to relocate the Storage Space to a new location which shall be no smaller than the square footage of the Storage Space. Landlord shall pay the direct, out-of-pocket, reasonable expenses of such space until the Rent Commencement Daterelocation.
Appears in 1 contract
Storage Space. At any time, from time to time, during the term of this Lease, and provided there shall not have occurred an Event of Default, Tenant may, in addition to the storage space leased to Tenant pursuant to the last sentence of this Section I, upon Upon no less than thirty (30) days prior written request by Tenant (the “Storage Space Request”), and subject to availability on a first come, first-served basis, except to the extent expressly set forth herein, Tenant shall have an option to lease storage space in Project (each, a “Potential Storage Space”) during the Lease Term. Following Landlord’s receipt of Tenant’s Storage Space Request, Landlord shall notify Tenant in writing (“Landlord’s Storage Notice”) as to what Potential Storage Space(s), if any, is available for Lease, and the size and then-current Building standard rental rate applicable for such Potential Storage Space (the “Storage Space Rent”), which Storage Space Rent shall be subject to escalation of three percent (3%) per annum during the remainder of the then current Lease Term. Tenant may lease any Potential Storage Space described in Landlord’s Storage Notice by delivering written notice to Landlord of Tenant’s election to lease such Potential Storage Space (“Tenant’s Storage Acceptance Notice”) delivered to Landlord within ten (10) business days following Landlord’s delivery of Landlord’s Storage Notice to Tenant. In the event that Landlord’s Storage Notice provided that more than one Potential Storage Space was available for lease by Tenant, then Tenant’s Storage Acceptance Notice shall identify which Potential Storage Space(s) Tenant has elected to lease. In the event that Tenant delivers a Tenant’s Storage Acceptance Notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which the applicable Potential Storage Space shall be co-terminus with the then-current Lease Term of this Lease. Landlord and Tenant elects shall enter into Landlord’s standard commercially reasonable storage space lease agreement (the “Storage Agreement”) with respect to Tenant’s lease of any Potential Storage Space, or, in the event that Tenant and Landlord have already entered into a Storage Agreement, then the parties shall enter into an amendment thereto adding such additional Potential Storage Space to any storage spacespace previously leased by Tenant pursuant to this Section 29.48. In consideration thereforTenant shall execute and return the Storage Agreement (or amendment thereto, commencing on the date which is as applicable) to Landlord within thirty (30) days after receiving it. If Tenant has delivered fails to execute and deliver the aforesaid notice Storage Agreement within such thirty (provided 30) day period, then Landlord has consented may lease such Potential Storage Space to any third party. In the availability event that Tenant delivers a Storage Space Request but, due to unavailability of any Potential Storage Space, Landlord is unable to provide Tenant with any Potential Storage Space at such time, Landlord shall so notify Tenant. Subject to Landlord’s compliance with the TCCs of this Section 29.48, the unavailability of such space)Potential Storage Space for Tenant’s use shall not subject Landlord to any liability for any loss or damage resulting therefrom or entitle Tenant to any credit, Tenant shall pay to Landlord, in addition to Rent and all abatement or adjustment of rent or other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by but Tenant in respect thereof, (ii) Tenant shall have no right may once again deliver a Storage Request pursuant to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) 29.48. Landlord hereby waives acknowledges that the following storage spaces are available for lease as of the Effective Date at a Storage Space Rent of Thirty and No/100 Dollars ($30.00) per square foot: ▇▇▇▇ ▇▇▇▇ (245 square feet), ▇▇▇▇ ▇▇▇▇ (▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇), ▇▇▇▇ ▇▇▇▇ (196 square feet), Unit 00BI (373 square feet), ▇▇▇▇ ▇▇▇▇ (▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇), ▇▇▇▇ ▇▇▇▇ (128 square feet) and Unit STRI (133 square feet) (collectively, the “Initially Available Storage Space”). Notwithstanding anything to the contrary in the foregoing, within thirty (30) day days after the Phase II Premises Lease Commencement Date (such date is hereinafter referred to as the “Initial Storage Election Deadline”), Tenant shall deliver written notice requirement with respect to such space and Landlord (ba “Initial Storage Election Notice”) no Rent specifying which Initially Available Storage Space Tenant has elected to rent. If Tenant fails to timely deliver an Initial Storage Election Notice, Tenant’s rights to any Potential Storage Space (including any Initially Available Storage Space) shall be payable as otherwise set forth in respect this Section 29.48. Landlord shall not lease any of the Initially Available Storage Space to any other party during the period commencing as of the Phase II Premises Lease Commencement Date and ending as of the Initial Storage Election Deadline. In addition and notwithstanding anything to the contrary in the foregoing, if any Potential Storage Space becomes available for lease during the Lease Term, Landlord shall provide Tenant with a courtesy notice of such space until the Rent Commencement Dateavailable Potential Storage Space promptly upon Landlord’s determination that such Potential Storage Space will be available for lease, including its location, size, monthly rental and date upon which it will be available for lease; provided, however, that Landlord’s failure to provide such courtesy notice shall not be deemed a default hereunder.
Appears in 1 contract
Sources: Office Lease (Okta, Inc.)
Storage Space. At any time, from time Landlord agrees to time, during make available to Tenant storage space in the term Building containing approximately one thousand (1,000) usable square feet. Such storage space shall be made available by Landlord to Tenant on the Lease Commencement Date and no rent shall be payable by Tenant to Landlord for the same for the period beginning on the date the same is delivered by Landlord to Tenant through the Rent Commencement Date. The annual gross rent for the storage space leased by Tenant shall be Fifteen Dollars ($15.00) per usable square foot in such space for the one-year period beginning on the Rent Commencement Date. Such monthly gross rent for storage space leased by Tenant shall be increased by three percent (3%) on each anniversary of this Lease, and provided there the Rent Commencement Date. Tenant shall not have occurred an Event be required to pay any portion of Default, Tenant may, in addition Operating Expenses or Real Estate Tax Expenses attributable to the storage space leased by it. In no event shall Tenant’s Share be increased as a result of Tenant’s lease of storage space in the Building. Landlord shall notify Tenant of the availability of storage space in the Building as and when it becomes available. All storage space leased by Tenant shall be built out by Landlord, at Landlord’s cost, to contain only the following: the storage space shall consist of cinder block walls, if located in the Garage, and the storage space shall have a steel, locked door and shall contain reasonable lighting, a reasonable number of electrical outlets and an exhaust fan for ventilation. Tenant pursuant shall have the right at any time to the last sentence cancel its lease of this Section I, upon all or any portion of storage space leased by it on not less than thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Date.
Appears in 1 contract
Storage Space. At any time, from time to time, during 32.1 Upon completion of the term of this LeaseBuilding design, and provided there shall not have occurred an Event following the determination by Landlord of Default, Tenant may, in addition to the location and amount of storage space leased to Tenant pursuant to the last sentence of this Section I, upon thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space be available in the basement any below-grade levels of the Building, Landlord shall give written notice to Tenant (the “Storage Availability Notice”) of the size and location of all storage space in the Building. By written notice delivered to Landlord not later than twenty (20) days after Landlord gives Tenant the Storage Availability Notice, Tenant shall have the right to elect to lease from Landlord during the Lease Term, up to the greater of (i) fifty percent (50%) of the storage space in the Building as specified in the Storage Availability Notice, or (ii) fifteen hundred (1,500) square feet of storage space, the location and configuration of which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord designated in Landlord's sole discretionan amendment to this Lease (the “Storage Spacey”). Tenant's notice shall also state the term for which If Tenant timely elects to lease such storage spacethe Storage Space, then the following provisions of this Article shall apply. In consideration therefor, commencing Commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space)Lease Commencement Date, Tenant shall pay annual Base Rent for such Storage Space in an amount equal to LandlordTwenty Dollars ($20.00) multiplied by the total number of square feet of area in such Storage Space (the “Storage Space Rent”). Beginning on the first day of the second (2nd) Lease Year, and on the first day of each and every Lease Year thereafter, such annual Storage Space Rent shall be increased by an amount equal to two and one-half percent (2.5%) of the annual Storage Space Rent in addition to effect during the immediately preceding Lease Year. The annual Storage Space Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, shall be payable in equal monthly installmentsinstallments in advance on the first day of each month. Except as otherwise specified herein, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants covenants, conditions and conditions provisions of this Lease Lease, except (i) no escalations under Article 28 those contained in Section 4.1 and Exhibit B, shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations apply to such storage space Storage Space. Landlord shall, at Landlord’s expense, partition the perimeter boundaries of the Storage Space, and provide lighting and a door, frame and hardware with building standard lock set (iii) keyed for Tenant’s use only), but Landlord shall have no obligations not be obligated to provide any services other alterations or make any repairs in respect of improvements to or for such storage spaceStorage Space. Notwithstanding the foregoingIn addition, Landlord hereby leases shall not be obligated to Tenantfurnish any utilities or services to such Storage Space except for electricity reasonably sufficient for lighting the Storage Space. Tenant shall use any such Storage Space exclusively for storage purposes consistent with a Class A office building and for no other use or purpose and otherwise in accordance with this Lease (and in no event shall employees of Tenant or other persons occupy or work from such Storage Space). Furthermore, and in no event shall Tenant hereby hires from Landlord, 500 square feet of space store materials that may attract rodents or other pests in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement DateStorage Space.
Appears in 1 contract
Storage Space. At any time, from time to time, during 4.1 During the term of this Lease, and provided there shall not have occurred an Event of Default, Tenant may, in addition to the storage space leased to Tenant pursuant to the last sentence of this Section I, upon thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only Storage Space Rental Term and for no other purpose, provided, however, the Storage Space Fee (as such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such spaceterms are defined herein), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases agrees to provide to Tenant, and Tenant hereby hires accepts from Landlord, 500 Landlord no less than seven hundred (700) square feet of Storage Space. “Storage Space” means space on premises owned or leased by Landlord, comparable in size and condition to the basement First Refusal Space (as defined below) or otherwise acceptable to Tenant in its sole and absolute discretion, reasonably accessible by Tenant, its agents, employees, contractors and representatives, accessible by fork-lift for freight-loading and unloading, and located within five hundred (500) yards of the Building upon all Building. Subject to the foregoing, the exact location of the terms Storage Space is at Landlord’s sole discretion and may be in an area in which property of this Section I except that (a) others is located and not walled off from Tenant stored property. Tenant shall have the right to use the Storage Space for warehouse and storage use. Access to the Storage Space shall require accompaniment by someone from SVTC facilities or security staff but access shall be available at all times. Storage Space may not be used to perform work of any kind other than the loading, unloading, storage or inventorying of stored property. Notwithstanding anything to the contrary set forth herein, if Landlord hereby waives is unable to provide Storage Space to Tenant for any reason during the Storage Space Rental Term, Landlord shall use reasonable efforts to provide Tenant with no less than thirty (30) day days written notice requirement of such unavailability, this Lease shall terminate solely with respect to the Storage Space as of the date immediately preceding the date that such Storage Space is unavailable, Tenant shall have no further obligation to pay the Storage Space Fee (defined below), and Tenant shall have the right to deduct the Storage Space Fee from the Rent for the remainder of the Term. If this Lease is terminated with respect to the Storage Space pursuant to the immediately preceding sentence, Landlord shall from time to time immediately notify Tenant in writing of the availability of any Storage Space in any building owned or leased by Landlord of which it becomes aware, and Tenant shall have the right in its sole and absolute discretion to elect to lease such space and from Landlord for the Storage Space Fee (b) no Rent shall be payable in respect of such space until or the Rent Commencement Dateprorata portion thereof).
Appears in 1 contract
Sources: Lease Agreement (PDF Solutions Inc)
Storage Space. At any time, If exercised by Tenant from time to time, during time on or prior to the term Commencement Date and to be effective as of this Lease, the Commencement Date (and provided there shall not have occurred thereafter on an Event of Defaultas-available basis) for the Lease Term (including renewal options), Tenant may, in addition shall have the right to the storage space leased to Tenant pursuant to the last sentence of this Section I, upon thirty (30) days prior written notice to Landlord, elect to use occupy up to 2,000 additional One Thousand (1,000) usable square feet of contiguous, dry space in the basement a lower level of the BuildingBuilding (the “Storage Space”), with elevator access to the upper floors, which may be used for storage and/or ancillary office purposes. The rental rate for such space shall be Fifteen & 00/100 Dollars ($15.00) per useable square foot thereof, with no increases thereto during the Term of this Lease. Except as set forth herein, there shall be no Additional Rent applicable to the Storage Space, if taken by Tenant, whether for operating expenses, real estate taxes, or other such expenses. In the event Tenant at any time requires HVAC or janitorial for such Storage Space taken by it, the agreed upon cost thereof shall be reimbursed by Tenant for storage only as Additional Rent under this Lease. Landlord agrees to paint such Storage Space, provide demising partitioning with a Building standard door and for no other purposelockset, providedand hang basic lighting fixtures from the ceiling, however, such space is available, which availability shall be determined by Landlord in all at Landlord's ’s sole discretionexpense. Tenant's notice shall also state If Tenant has taken the term for which Tenant elects to lease such storage space. In consideration thereforStorage Space then, commencing on the Rent Commencement Date (or, if later, the date which is thirty (30Tenant takes the Storage Space) days after Tenant has delivered and on the aforesaid notice (provided Landlord has consented to the availability first day of such space)each month thereafter, Tenant shall pay pay, on a monthly basis, the cost of all electricity utilized for or in connection with the Storage Space, as evidenced by a check meter or submeter (if so installed at Landlord’s sole cost and expense) or as otherwise reasonably estimated by Landlord and agreed to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Date.
Appears in 1 contract
Sources: Deed of Lease (NCI, Inc.)
Storage Space. At any time(a) Landlord hereby leases to Tenant and Tenant hereby leases from Landlord (i) those certain storage areas located on the lower level of the Building in the area labelled “Expansion Storage Space” on Attachment E hereto, from time to time, during expressly excluding the term of this Leasearea therein labelled “Telco” on Attachment E (the “Expansion Storage Space”), and provided there shall not have occurred an Event (ii) those two (2) certain storage areas located on the lower level of Default, the Building in the areas labelled “Post Single Tenant mayDate Storage” on Attachment E hereto (the “Post Single Tenant Date Storage”), in the respective as-is condition thereof on the date Tenant is first permitted to access the same. In addition thereto, the Occupancy License hereby is deemed to be terminated effective as of the day immediately preceding the Amendment Date, and from and after the Amendment Date, the storage areas that were licensed pursuant to the Occupancy License (i.e., storage areas B108 and B111) hereby are deemed to be leased pursuant to the Lease (as amended hereby) as part of the Existing Storage Space, in the as-is condition thereof as of the Amendment Date, for a Term that is coterminous with remainder of the Existing Storage and on all terms and conditions of the Lease (as amended hereby) that are applicable with respect thereto. The Expansion Storage Space and the Post Single Tenant Date Storage, together with the Existing Storage Space leased by Tenant as of the Amendment Date (which Existing Storage Space, totaling approximately 2,247 square feet in the aggregate, is located on the lower level of the Building in the areas labelled “Existing Storage Space” on Attachment E hereto), comprises all of the storage space leased to Tenant pursuant for tenants located in the Building as of the Amendment Date. The Term with respect to the last sentence Expansion Storage Space shall commence on the Amendment Date (and Tenant shall be permitted access to the Expansion Storage Space from and after such date), and shall continue for the remainder of this Section Ithe Fourteenth Amendment Extension Term (and any extension thereof in accordance with the terms of the Lease, upon thirty as amended hereby). The Term with respect to the Post Single Tenant Date Storage shall commence on the Post-Single Tenant Date (30and Tenant shall be permitted access to the Post Single Tenant Date Storage from and after such date), and shall continue for the remainder of the Fourth Amendment Extension Term (and any extension thereof in accordance with the terms of the Lease, as amended hereby).
(b) days prior written notice From and after (i) the Amendment Date, all of the terms and conditions of the Lease (as amended hereby) that are applicable to Landlordthe Existing Storage Space (including without limitation, elect Paragraph 8 of Exhibit F to use up the Original Lease) shall be applicable with respect to 2,000 additional square feet of space the Expansion Storage Space, and all references in the basement Lease to the “Storage Space” shall be deemed to mean the Expansion Storage Space and the Existing Storage Space, and (ii) the Single-Tenant Date, all of the Buildingterms and conditions of the Lease (as amended hereby) that are applicable to the Existing Storage Space (including without limitation, which may Paragraph 8 of Exhibit F to the Original Lease) shall be used by applicable with respect to the Post Single Tenant for storage only Date Storage, and for no other purposeall references in the Lease to the “Storage Space” shall be deemed to mean the Expansion Storage Space, the Post Single Tenant Date Storage and the Existing Storage Space; provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), that Tenant shall not be required to pay to Landlordany Storage Space Rent or Additional Storage Space Rent (or any Occupancy Charge) for the Expansion Storage Space, in addition to Rent the Post Single Tenant Date Storage or the Existing Storage Space.
(c) Tenant hereby expressly acknowledges and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except agrees that (i) no escalations under Article 28 shall be payable by Tenant in respect thereofthe area labelled “Telco” on Attachment E (the “Telco Room”), (ii) although located with the boundaries of the Expansion Storage Space, is not part of the Expansion Storage Space and Tenant shall have no right to make any Alterations to such storage space use or access the Telco Room, and (iiiii) Landlord shall have no obligations the right, at any time and from time to provide time, to access the Expansion Storage Space in order to access and use the Telco Room in connection with the operation of the Building. Tenant hereby grants to Landlord the right to access the Expansion Storage Space at such times as Landlord desires to access and use the Telco Room (without any services prior notice to or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to consent by Tenant), and Tenant hereby hires from Landlord, 500 square feet of space in agrees to provide Landlord with all keys necessary for Landlord to so access the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to Expansion Storage Space for such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Datepurpose.
Appears in 1 contract
Sources: Deed of Office Lease Agreement (Alarm.com Holdings, Inc.)
Storage Space. At Tenant shall have the right to lease up to approximately one thousand two hundred (1,200) square feet of storage space (the "Storage Space") in the Project parking facility; provided, however, if, after the first twelve (12) months of the Lease Term, Tenant has not commenced leasing or ceases to lease the Storage Space, as applicable, any timesubsequent leasing of the Storage Space by Tenant shall be subject to availability. The exact size of the Storage Space and the location thereof shall be reasonably determined by Landlord. Tenant shall pay rent equal to One Dollar ($1.00) per square foot of the Storage Space per month along with Tenant's payments of Base Rent for the Premises. In addition, Tenant shall pay for, or reimburse Landlord for, all any Landlord-provided utilities used in connection with the Storage Space at the Actual Cost thereof. Tenant shall comply with such rules and regulations as promulgated by Landlord from time to timetime pertaining to the use of such Storage Space and, during the term of in connection therewith, Tenant agrees that Tenant's obligations under this Lease, including, but without limitation thereof, Article 10 will specifically apply to the Storage Space as if the Storage Space were a part of the Premises. Tenant agrees not to store any flammable, combustible or other materials in the Storage Space that would increase the cost of Landlord's insurance, and provided there not to store any toxic, hazardous or odorous materials or waste in the Storage Space. Tenant also agrees not to store excess or highly concentrated weight in the Storage Space. Tenant agrees to use the Storage Space solely for storage purposes of dry goods and not as office or other space. Tenant agrees that Landlord and its agents may enter and inspect the Storage Space and any goods stored therein during normal business hours, on not less than one (1) business day's prior notice (except in an emergency in which case no prior notice shall be required). Tenant shall deliver to Landlord a key for any locks installed by Tenant for Landlord's emergency entry purposes. Notwithstanding anything to the contrary contained in this Lease, Tenant accepts the Storage Space in its presently existing "as is", "with all faults", "without any warranties or representations" condition and Landlord shall not have occurred an Event be obligated perform any improvement or other work in connection with the Premises. No obligations of Default, Tenant may, in addition Landlord under this Lease with respect to the Premises or Base Building shall apply to the Storage Space. Tenant may make interior, non-structural modifications to the Storage Space only in accordance with the terms of Article 8 of the Lease. Landlord shall have the right, upon not less than sixty (60) days prior written notice to Tenant, to substitute for the Storage Space comparable storage area within the Project having reasonably comparable access to and reasonably equivalent usable area as the Storage Space, provided that Landlord shall pay all expenses reasonably incurred in moving Tenant's property to such new location; and upon the expiration of such 60-day written notice, the new storage space leased shall be deemed to Tenant pursuant to be the last sentence Storage Space covered by this terms of this Section I29.48. Tenant agrees to, at all times, maintain the Storage Space in neat and orderly condition and repair. Tenant acknowledges that Landlord shall have no obligation to provide any security, services, maintenance, work or improvements whatsoever for the Storage Space. Subject to the terms and conditions hereof, Tenant may terminate any such lease of Storage Space upon thirty (30) days prior written notice to Landlord, elect to use up to 2,000 additional square feet of space in the basement of the Building, which may be used by Tenant for storage only and for no other purpose, provided, however, such space is available, which availability shall be determined by Landlord in Landlord's sole discretion. Tenant's notice shall also state the term for which Tenant elects to lease such storage space. In consideration therefor, commencing on the date which is thirty (30) days after Tenant has delivered the aforesaid notice (provided Landlord has consented to the availability of such space), Tenant shall pay to Landlord, in addition to Rent and all other sums payable by Tenant to Landlord under the Lease, a per annum amount, payable in equal monthly installments, equal to the product of (x) the number of square feet leased, multiplied by (y) the then applicable rate per square foot of fixed base Rent, multiplied by (z) 50%. Such storage space shall be held by Tenant subject to all of the terms, covenants and conditions of this Lease except (i) no escalations under Article 28 shall be payable by Tenant in respect thereof, (ii) Tenant shall have no right to make any Alterations to such storage space and (iii) Landlord shall have no obligations to provide any services or make any repairs in respect of such storage space. Notwithstanding the foregoing, Landlord hereby leases to Tenant, and Tenant hereby hires from Landlord, 500 square feet of space in the basement of the Building upon all of the terms of this Section I except that (a) Landlord hereby waives the thirty (30) day notice requirement with respect to such space and (b) no Rent shall be payable in respect of such space until the Rent Commencement Date.
Appears in 1 contract
Sources: Office Lease (Navarre Corp /Mn/)