Common use of Tenant Relocation Clause in Contracts

Tenant Relocation. Seller shall make commercially reasonable best efforts to expeditiously consolidate the existing Tenants of the portion of the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ into the portion of the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇. (collectively the “Relocating Tenants”), in order to make the portion of the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ available for occupancy by Buyer by January 18, 2012. Buyer and Seller in good faith shall collaborate and shall come up with a mutually agreeable plan within (3) days after execution (“Approved Tenant Relocations”) of this Agreement, to designate which tenant is offered relocation, reduction, termination or off premises relocation. Buyer shall have sole and absolute discretion to reject any relocation plan offered by Seller and Buyer may terminate this agreement and receive the Deposit back if Buyer does not approve the Approved Tenant Relocations plan. Should Seller be unable to effectuate the relocation pursuant to the Approved Tenant Relocations by January 17, 2012, or as it may be extended consistent with Section 4.2, January 20, 2012, Buyer may thereafter elect in its sole discretion to (i) terminate this agreement and receive the Deposit back or (ii) complete the Closing and receive a credit of $30 per rentable square foot for any square footage of Relocating Tenants remaining in the ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ building against the Purchase Price (the "Buyer Relocation Credit"). Any actual documented expenditures made by Seller pursuant to Approved Tenant Relocations for any such remaining Relocating Tenants shall be deducted from the Buyer Relocation Credit. Any compensation, reimbursement of costs, tenant improvement allowances, rent credits, rent reductions or other consideration payable to the Relocating Tenants or in connection with the relocation of the Relocating Tenants or any other costs and expenses associated with the relocation of the Relocating Tenants (collectively the “Relocation Consideration”) shall be the sole responsibility of Seller and shall credited to the Purchase Price at the Close of Escrow. If Buyer elects to complete the Closing, receive the Buyer Relocation Credit, and complete the Approved Tenant Relocations, then Buyer shall not be entitled to an Extension Credit under Section 4.2.

Tenant Relocation. Seller It is specifically agreed between Landlord and Tenant that Landlord shall make commercially reasonable best efforts have the one (1) time right at any time during the Term of this Lease (including without limitation the primary or any renewal or extension term thereof) to expeditiously consolidate the existing Tenants substitute, instead of the portion Premises, other space of at least the area of the Property known Premises (such other space being hereinafter referred to as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ into the portion of "SUBSTITUTION SPACE") located anywhere in the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇. (collectively the “Relocating Tenants”)Building; provided, in order to make the portion of the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ available for occupancy by Buyer by January 18however, 2012. Buyer and Seller in good faith shall collaborate and shall come up with a mutually agreeable plan within (3) days after execution (“Approved Tenant Relocations”) of this Agreement, to designate which tenant is offered relocation, reduction, termination or off premises relocation. Buyer shall have sole and absolute discretion to reject any relocation plan offered by Seller and Buyer may terminate this agreement and receive the Deposit back if Buyer does not approve the Approved Tenant Relocations plan. Should Seller be unable to effectuate the relocation pursuant to the Approved Tenant Relocations by January 17, 2012, or as it may be extended consistent with Section 4.2, January 20, 2012, Buyer may thereafter elect in its sole discretion to that such Substitution Space (i) terminate this agreement contains at least the same number of windows (with the same or substantially similar exposure) and receive at least the Deposit back or same number of offices as the Premises, (ii) complete consists of at least the Closing same square footage as the Premises, (iii) has a similar or better layout as the Premises and receive a credit (iv) is not substantially blocked by signage. Landlord shall exercise such right by giving Tenant at least thirty (30) days' prior written notice specifying the effective date of $30 per rentable square foot such substitution of the Substitution Space, whereupon, as of such effective date: (a) The description of the Premises set forth in the Lease shall, without further act on the part of Landlord or Tenant, be deemed amended so that the Substitution Space shall be deemed to be the Premises under the Lease, and all of the terms, covenants, conditions and provisions and agreements of the Lease shall continue in full force and effect and apply to the Substitution Space; and (b) Tenant shall move from the original Premises into the Substitution Space on or before the effective date stated in Landlord's notice and shall vacate and surrender possession to Landlord of the original Premises; and (c) Subject to the other provisions of this subsection (c), Tenant shall be deemed to have accepted possession of the Substitution Space in its "AS IS" condition as of the effective date stated in Landlord's notice. If Landlord exercises this relocation right, Landlord shall pay directly, upon presentation of invoices, for any square footage of Relocating Tenants remaining Tenant's actual and reasonable out-of-pocket expenses for moving and installing Tenant's furniture, equipment, supplies, telephones and telephone equipment and all of Tenant's other property in the ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ building against Premises from the Purchase Price original Premises to the Substitution Space, which move and installation (the "Buyer Relocation CreditMOVE"). Any actual documented expenditures made by Seller pursuant to Approved ) shall be accomplished during the period beginning with the close of Tenant's business on a Friday and ending with the opening of Tenant's business on the next following Monday, but Tenant Relocations shall not be compensated and Landlord shall not be liable for any such remaining Relocating Tenants shall be deducted from the Buyer Relocation Credit. Any compensation, reimbursement of costs, tenant improvement allowances, rent credits, rent reductions or other consideration payable inconvenience to the Relocating Tenants Tenant or for any interruption of Tenant's business or affairs. Additionally, Landlord, at Landlord' s expense, shall alter the Substitution Space in substantially the same manner as the original Premises were initially constructed by Tenant in connection with the relocation Initial Alterations and the effective date of the Relocating Tenants or any other costs and expenses associated with the relocation substitution of the Relocating Tenants Substitution Space shall not be deemed to have occurred until the substantial completion of such alterations. If Tenant requests materials or installations in the Substitution Space other than those originally installed by Landlord in the original Premises or if Tenant shall make any changes in the work, Landlord's written consent thereto shall be required and Tenant shall pay to Landlord, if Landlord so gives its consent, the extra costs of any such materials, installations or changes in the work. Landlord at its discretion may substitute materials of like quality for the materials originally utilized in proceeding with any such work. (collectively d) In the “Relocation Consideration”event that the Substitution Space shall either (A) be on a floor lower than the fourteenth (14th) floor of the Building or (B) be on a higher floor of the Building but with an exposure other than the Southwest exposure of the Premises, the Rent for such Substitution Space shall be the sole responsibility lesser of Seller and (x) the Rent set forth in subsection 1.2(iii) of this Lease, or (y) the then fair market rent for the Substitution Space, as such rent shall credited to the Purchase Price at the Close of Escrow. If Buyer elects to complete the Closing, receive the Buyer Relocation Credit, and complete the Approved Tenant Relocations, then Buyer shall not be entitled to an Extension Credit under Section 4.2reasonably determined by Landlord.

Tenant Relocation. Seller Landlord expressly reserves the right (but only once during the Lease Term), to remove Tenant from the Premises and to relocate Tenant to another premises in the Building (the “New Premises”), in which event the New Premises shall make commercially be deemed to be the Premises for all purposes under this Lease, provided that (i) the New Premises shall be substantially similar to or better than the Premises with respect to area, configuration, quality, functionality, location and access; (ii) if Tenant is then occupying the Premises, Landlord shall pay the actual and reasonable best efforts moving and related costs incurred by Tenant in connection with such move (including reinstalling equipment (including, without limitation, IT equipment), furniture, trade fixtures, supplies and other personal property and reimbursing Tenant for the reasonable cost of replacing Tenant’s stationary and business cards to expeditiously consolidate reflect the existing Tenants new Suite number); (iii) Landlord shall give Tenant not less than ninety (90) days’ prior written notice of such substitution; (iv) Landlord, at its expense, shall improve the New Premises with improvements substantially similar to or better than those in the Premises at the time of such substitution, if the Premises are then improved; and (v) effective as of the portion date of relocation, the Monthly Base Rent, Rentable Area of the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ Premises and Tenant’s Share shall be adjusted accordingly; but in no event will the Annual Base Rent and T▇▇▇▇▇▇ ’s Share of Operating Expenses increase as a result of such relocation. Any relocation hereunder shall permit Tenant to move into the portion of the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇. (collectively the “Relocating Tenants”)substitute premises over a weekend, in order to make the portion of the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ available for occupancy by Buyer by January 18if practicable, 2012. Buyer and Seller in good faith shall collaborate and shall come up be accomplished as quickly as reasonably practicable with a mutually agreeable plan within (3) days the least disruption of Tenant’s business operations as reasonably practicable. The parties, promptly after execution (“Approved Tenant Relocations”) of this Agreement, to designate which tenant is offered any such relocation, reduction, termination or off premises relocation. Buyer shall have sole and absolute discretion execute an appropriate amendment to reject any relocation plan offered by Seller and Buyer may terminate this agreement and receive the Deposit back if Buyer does not approve the Approved Tenant Relocations plan. Should Seller be unable to effectuate Lease acknowledging the relocation pursuant to the Approved Tenant Relocations by January 17and any reduction of Rent, 2012, or as it may be extended consistent with Section 4.2, January 20, 2012, Buyer may thereafter elect in its sole discretion to (i) terminate this agreement and receive the Deposit back or (ii) complete the Closing and receive a credit of $30 per rentable square foot for any square footage of Relocating Tenants remaining in the ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ building against the Purchase Price (the "Buyer Relocation Credit"). Any actual documented expenditures made by Seller pursuant to Approved Tenant Relocations for any such remaining Relocating Tenants shall be deducted from the Buyer Relocation Credit. Any compensation, reimbursement of costs, tenant improvement allowances, rent credits, rent reductions or other consideration payable to the Relocating Tenants or in connection with the relocation of the Relocating Tenants or any other costs and expenses associated with the relocation of the Relocating Tenants (collectively the “Relocation Consideration”) shall be the sole responsibility of Seller and shall credited to the Purchase Price at the Close of Escrow. If Buyer elects to complete the Closing, receive the Buyer Relocation Credit, and complete the Approved Tenant Relocations, then Buyer shall not be entitled to an Extension Credit under Section 4.2if applicable.

Tenant Relocation. Seller shall make commercially reasonable best efforts Landlord may, upon not less than 60 days notice to expeditiously consolidate Tenant, relocate the existing Tenants Premises or any portion thereof ("RELOCATED PREMISES") to any other premises within the Building ("SUBSTITUTE PREMISES") on a date of relocation (the portion of the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ into the portion of the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇. (collectively the “Relocating Tenants”)"RELOCATION DATE") specified therein; provided, in order to make the portion of the Property known as ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ available for occupancy by Buyer by January 18however, 2012. Buyer and Seller in good faith shall collaborate and shall come up with a mutually agreeable plan within (3) days after execution (“Approved Tenant Relocations”) of this Agreement, to designate which tenant is offered relocation, reduction, termination or off premises relocation. Buyer shall have sole and absolute discretion to reject any relocation plan offered by Seller and Buyer may terminate this agreement and receive the Deposit back if Buyer does not approve the Approved Tenant Relocations plan. Should Seller be unable to effectuate the relocation pursuant to the Approved Tenant Relocations by January 17, 2012, or as it may be extended consistent with Section 4.2, January 20, 2012, Buyer may thereafter elect in its sole discretion to that (i) terminate Landlord may only relocate portions of the Premises located on a floor in their entirety; and (ii) Landlord may not relocate Tenant and Tenant's subtenant occupying the 12th floor of the Premises without the consent of Tenant's subtenant. In the event that Tenant amends or extends or otherwise allows the transfer of the Sublease, Tenant agrees to exert reasonable efforts to obtain subtenant's consent to this agreement provision. The Substitute Premises shall in all respects be reasonably the same as the Relocated Premises in area, finish, and receive appropriateness for the Deposit back Permitted Use. The Rentable Area of the Substitute Premises shall be approximately the same as the Rentable Area of the Relocated Premises or, if greater than the Relocated Premises, Tenant shall not be charged Rent (including Basic Operating Costs) for such additional Rentable Area (and all such additional Rentable Area shall be improved, at Landlord's Expense, to the extent reasonably consistent with the remainder of the Substitute Premises) and the Substitute Premises shall be reasonably comparable in all material respects to the Relocated Premises (including offices, conference areas, storage areas and lobby area), all at the sole cost and expense of Landlord. The Substitute Premises shall comply with all applicable laws, regulations and codes, all at the sole cost and expense of Landlord. On the effective date of such relocation, the Substitute Premises shall be deemed part of the Premises and the Relocated Premises shall no longer be a part of the Premises. For purposes of determining Tenant's Share (and for purposes of any other proration under this Lease) after the Relocation Date, the Rentable Area of the Premises shall be deemed to be the lesser of (i) 34,982 square feet or (ii) complete the Closing actual Rentable Area of the Premises, including the Relocated Premises, expressed in square feet. Landlord shall use reasonable efforts to tender possession of the Relocated Premises, improved as aforesaid to Tenant not later than fifteen (15) days prior to the Relocation Date. Rent for the Relocated Premises shall cease and receive a credit shall commence for the Substitute Premises on the earlier of $30 per rentable square foot (i) Tenant vacating the Relocated Premises or (ii) fifteen (15) days after Landlord tenders possession of the Relocated Floor to Tenant, improved as aforesaid. If Landlord exercises Landlord's right to relocate Tenant, Landlord will promptly pay the cost of or reimburse Tenant for any square footage Tenant's reasonable out-of-pocket expenses for (i) packing, moving and reinstalling Tenant's signage, furniture, artworks, equipment, files, computer network (including cabling), supplies, telephones and other communication equipment, (ii) reprinting Tenant's stationery, business cards and other printed material containing Tenant's address, of Relocating Tenants remaining the same quality and in the ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ building against same quantity as that on hand at the Purchase Price time of the receipt of the Relocation Notice, (iii) printing and mailing announcements relative to Tenant's move, (iv) additional space planning and decoration consultation if the "Buyer Relocation Credit"). Any actual documented expenditures made by Seller pursuant to Approved Tenant Relocations for any such remaining Relocating Tenants shall be deducted configuration of the Substitute Premises is different from the Buyer Relocation Credit. Any compensation, reimbursement of costs, tenant improvement allowances, rent credits, rent reductions or Relocated Premises and (v) any other consideration payable to the Relocating Tenants or out-of-pocket costs incurred by Tenant in connection with the relocation Tenant's relocation. Requests for direct payment of any of the Relocating Tenants foregoing amounts shall be accompanied by the original third party invoices therefor and requests for reimbursement of any such amounts shall be accompanied by reasonable supporting documentation. Any material modification or any other costs and expenses associated with upgrading of tenant improvements (unless Landlord is required to make such modification pursuant to this Paragraph 9), additional stationery, additional construction (if not occasioned by the relocation Substitute Premises being larger than the Relocated Premises) or printing, if requested by Tenant, will be at the sole cost of Tenant. Tenant shall have the option, effective as of the Relocating Tenants (collectively Relocation Date, either to enter into an appropriate lease amendment relocating the “Relocation Consideration”) Relocated Premises, or to terminate this Lease, which option shall be the sole responsibility exercised within 15 business days following receipt of Seller and Landlord's Relocation Notice. Failure of Tenant to choose either option within such period shall credited constitute Tenant's election to the Purchase Price at the Close of Escrowrelocate. If Buyer Tenant elects to complete terminate this Lease, such termination shall be effective one hundred twenty (120) days following the Closing, receive date of Tenant's receipt of the Buyer Relocation CreditNotice, and complete the Approved Tenant Relocations, then Buyer shall not be entitled required to an Extension Credit under Section 4.2relocate the Substitute Premises pending its vacating the Premises.