Verification of Rentable Square Feet of Premises Sample Clauses

The 'Verification of Rentable Square Feet of Premises' clause establishes the process by which the actual rentable area of a leased property is measured and confirmed. Typically, this clause allows for an independent measurement of the premises, often at the start of the lease, to ensure that the stated square footage matches the physical reality. If discrepancies are found, the rent or other financial terms may be adjusted accordingly. This clause serves to protect both landlord and tenant by ensuring that rent is based on accurate measurements, thereby preventing disputes over space and associated costs.
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Verification of Rentable Square Feet of Premises. For purposes of this Lease, “rentable square feet” and “usable square feet” of the Premises shall be deemed as set forth in Sections 2.2 and 2.3 of the Summary and shall not be subject to remeasurement or modification.
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Verification of Rentable Square Feet of Premises of the Lease Is deleted. The parties stipulate that, for purposes of the Lease, the Premises and the Building contain 81,204 rentable square feet.
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Verification of Rentable Square Feet of Premises. Building, and --------------------------------------------------------------- Project. For purposes of this Lease, "rentable square feet" shall be calculated ------- pursuant to "BOMA," as that term is defined in Section 4.2.9 below, provided that the rentable square footage of the Building and the Project shall include all of (and the rentable square footage of the Premises therefore shall include a portion of) the Building Common Areas. In the event that the rentable area of the Premises, the Building and/or the Project shall hereafter change due to subsequent alterations and/or other modifications to the Premises, the Building and/or the Project, the rentable area of the Premises, the Building and/or the Project, as the case may be, shall be appropriately adjusted as of the date of such alteration and/or other modification, based upon the written verification by Landlord's space planner of such revised rentable area. In the event of any such adjustment to the rentable area of the Premises, the Building and/or the Project, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amount of the "Rent" and the "Letter of Credit," as those terms are defined in Article 4 and Article 21 of this Lease, respectively) shall be modified in accordance with such determination.
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Verification of Rentable Square Feet of Premises. Building, and --------------------------------------------------------------- Project. In the event that the rentable area of the Premises, the Building ------- and/or the Project shall hereafter change due to subsequent alterations and/or other modifications to the Premises, the Building and/or the Project, the rentable area of the Premises, the Building and/or the Project, as the case may be, shall be appropriately adjusted as of the date of such alteration and/or other modification, based upon the written verification by Landlord's space planner of such revised rentable areas. In the event of any such adjustment to the rentable area of the Premises, the Building and/or the Project, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amount of the "Rent" and any "Security Deposit," as those terms are defined in Article 4 and Article 21 of this Lease, respectively) shall be modified in accordance with such determination.
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Verification of Rentable Square Feet of Premises of the Lease is deleted. The parties stipulate that, for purposes of the Lease, the Premises and the Building contain 81,204 rentable square feet.
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Verification of Rentable Square Feet of Premises. The rentable and usable area of the Premises shall be determined in accordance with the standards set forth in ANSI Z65.1-1996, as promulgated by the Building Owners and Managers Association (the “BOMA Standard”). Landlord and Tenant shall each have the right, upon notice (the “Remeasurement Notice”) delivered to the other party within sixty (60) days following the Lease Commencement Date, to remeasure the usable square footage of the Premises in accordance with the BOMA Standard. In the event that such remeasurement indicates that the usable square footage measurement set forth in this Lease is in excess of or lower than the usable square footage number which would have resulted had the BOMA Standard been properly utilized, any payments due either party (or other rights between Landlord and Tenant) based upon the amount of rentable and usable square feet contained in the Premises (including, without limitation, the Base Rent, Tenant’s Share, the Security Deposit amount, and the Improvement Allowance), shall be proportionally, retroactively and prospectively reduced or increased, as appropriate, to reflect the actual number of rentable and usable square feet as properly derived from the remeasured usable square footage under the BOMA Standard. If either party disagrees with the other party’s remeasurement and if a dispute occurs regarding the final accuracy of the usable square footage measurement of the Premises in accordance with the BOMA Standard, such dispute will be conclusively resolved by an architect selected by Landlord and approved by Tenant, in Tenant’s reasonable discretion. In the event that a Remeasurement Notice is not timely delivered in accordance with the terms of this Section 1.5, the square footage of the Premises shall not be subject to remeasurement, and the rentable square footage set forth in Section 2.2 of the Summary above shall be binding and conclusive.
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Verification of Rentable Square Feet of Premises. Within sixty (60) days after BSC Completion Date, Landlord shall retain ▇▇▇▇▇▇▇▇▇ Systems, Inc. (”▇▇▇▇▇▇▇▇▇”) to verify the rentable square footage of the Premises and the Building, and Landlord shall provide the results of such remeasurement to Tenant. Any such remeasurement shall be determined in accordance with BOMA Standard Method for Measuring Floor Area in Office Buildings, ANSI Z65.1-2017 (the “BOMA Standard”), subject, if necessary, to the third sentence of Section 1.2. 1. The parties acknowledge and agree that the BOMA Standard shall be interpreted in accordance with the methodology utilized in the ▇▇▇▇▇▇▇▇▇ Report (defined below), a copy of which has been provided to Tenant. Notwithstanding anything contained herein to the contrary, in no event shall the remeasurement contemplated in this Section 1.3 result in an increase of the rentable square feet of the Premises of more than two percent (2%) in the aggregate of the area of the Premises set forth in the ▇▇▇▇▇▇▇▇▇ report concerning the Building dated October 15, 2019 (the “▇▇▇▇▇▇▇▇▇ Report”), excluding any net square footage added to the Premises by Tenant. In the event that the rentable area of the Premises and/or Building shall change due to such verification, the rentable area of the Premises and/or Building shall be appropriately adjusted. In the event of any such adjustment, Tenant’s Share shall be modified as necessary retroactively to the Rent Commencement Date in accordance with such determination. In the event of any such adjustment to the rentable area of the Premises or Building, all amounts, percentages and figures appearing or referred to in this Lease based upon such rentable area (including, without limitation, the amount of the “Rent” and “Tenant’s Share”, as those terms are defined in this Lease) shall be modified in accordance with such determination, subject to the third sentence of Section 1.2.1. Tenant acknowledges that as of the date of this Lease, the area of the other Building in the Project totals an agreed 14,000 rentable square feet, which is not subject to remeasurement during the term of the occupancy thereof by Northrop Grumman Systems Corporation, a Delaware corporation, or its Affiliates.
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Verification of Rentable Square Feet of Premises. In the event that, pursuant to Section 1.5 of the Lease, it is determined that the rentable square footage of the Original Premises and/or the Expansion Premises is different from that set forth in the Lease and this First Amendment, respectively, then in connection with the modification of Basic Rent, the parties agree that (i) the initial Monthly Basic Rent for the Original Premises is based on $1.95 per rentable square foot and (ii) the initial Monthly Basic Rent for the Expansion Premises is based on $1.10 per rentable square foot.
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Related to Verification of Rentable Square Feet of Premises

  • Inspection of Premises Landlord and Landlord's agents shall have the right at all reasonable times during the term of this Agreement and any renewal thereof to enter the Premises for the purpose of inspecting the Premises and all buildings and improvements thereon. And for the purposes of making any repairs, additions or alterations as may be deemed appropriate by Landlord for the preservation of the Premises or the building. Landlord and its agents shall further have the right to exhibit the Premises and to display the usual "for sale", "for rent" or "vacancy" signs on the Premises at any time within forty-five (45) days before the expiration of this Lease. The right of entry shall likewise exist for the purpose of removing placards, signs, fixtures, alterations or additions, that do not conform to this Agreement or to any restrictions, rules or regulations affecting the Premises.

  • Lease of Premises Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises for the Term and upon the terms and conditions hereinafter set forth.

  • Expansion of Premises (a) Effective as of the Expansion Date the Premises (and the definition of the “Premises”) shall be modified to mean and include both the Initial Premises and the Expansion Premises. As a result of such expansion, effective upon the Expansion Date, the deemed square footage of the Premises shall be and become 31,684 square feet and Tenant’s Prorata Share and Tenant’s Share of Expenses and Real Estate Taxes shall be one hundred percent (100.00%). (b) If Landlord, for any reason whatsoever, cannot deliver possession of the Expansion Premises to Tenant on before August 1, 2012 for the purpose specified in Section 3(c), this Amendment shall not be void or voidable, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and Tenant shall have no obligation to pay monthly Base Rent or Additional Charges with respect to the Expansion Premises until the day following the date on which possession of the Expansion Premises is delivered to Tenant (such date thereupon becoming the “Expansion Date” for purposes of this Amendment). Notwithstanding the foregoing, if Landlord is unable to deliver the Expansion Premises by August 1, 2012 (as extended day-for-day for each day of Force Majeure Delay) (the “Expansion Premises Outside Delivery Date”), then Tenant shall have the right, as its sole remedy, to terminate this Amendment to Lease by providing written notice to Landlord within fifteen (15) business days following the Expansion Premises Outside Delivery Date, in which event the Lease shall continue in full force and effect as if the parties had not entered into this Amendment and Landlord shall promptly return to Tenant the August, 2012 Base Rent for the Expansion Premises paid by Tenant pursuant to the provisions of Section 6(d). For purposes hereof, the failure of the existing tenant of the Expansion Premises to vacate the Expansion Premises shall not be an event of Force Majeure Delay. (c) Notwithstanding the above, Tenant shall be entitled to early occupancy of the Expansion Premises at any time after the Expansion Premises Delivery Date for the sole purposes of (1) installing Tenant’s furniture and telephone and other communications cabling and (2) performing Tenant’s Expansion Work (defined below), provided that (i) Tenant covenants and agrees that Tenant and Tenant’s employees, agents or contractors will cooperate with Landlord to coordinate the performance and completion of the Landlord’s Expansion Work concurrently with Tenant’s Expansion Work, (ii) Landlord shall have no liability to Tenant for delays in completing the Landlord’s Expansion Work which result from, are caused by or arise out of the interference by Tenant or Tenant’s employees, agents or contractors in the performance of the Landlord’s Expansion Work, (iii) Tenant and Tenant’s employees, agents and contractors shall promptly comply with any and all requests made by Landlord or Landlord’s contractor(s) that Tenant remove its property from those areas in or around which Landlord is performing the Landlord’s Expansion Work, and (iv) Landlord shall not be liable for, Tenant hereby waives all claims which Tenant may have against the Landlord Parties, and Tenant shall indemnify and hold harmless Landlord from and defend Landlord against any and all claims or liability for any injury or damage to any person or property in or about the Expansion Premises resulting from or arising out of or in connection with the performance of Tenant’s Expansion Work (except to the extent arising from the negligence or willful misconduct of Landlord). Tenant’s early occupancy of the Expansion Premises for the sole purpose provided in this Section shall be subject to all of the terms and conditions of the Lease, provided that (x) the Premises shall not include the Expansion Premises until the Expansion Date, and (y) Tenant shall not be obligated to pay monthly Base Rent or Additional Charges with respect to the Expansion Premises for the period from the Expansion Premises Delivery Date until the Expansion Date. (d) Within five (5) business days after the Expansion Date, the parties shall execute a letter confirming the Expansion Date and certifying that Tenant has accepted delivery of the Premises, in form substantially similar to EXHIBIT “D” attached to the Lease (the “Expansion Date Memorandum”). Either party’s failure to request execution of, or to execute, the Expansion Date Memorandum shall not in any way alter the Expansion Date.

  • RELOCATION OF PREMISES Landlord shall have the right to relocate the Premises to another part of the Building in accordance with the following: a. The new premises shall be substantially the same in size, dimensions, configuration, decor and nature as the Premises described in this Lease, and if the relocation occurs after the Commencement Date, shall be placed in that condition by Landlord at its cost. b. Landlord shall give Tenant at least thirty (30) days written notice of ▇▇▇▇▇▇▇▇'s intention to relocate the Premises. c. As nearly as practicable, the physical relocation of the Premises shall take place on a weekend and shall be completed before the following Monday. If the physical relocation has not been completed in that time, Base Rent shall ▇▇▇▇▇ in full from the time the physical relocation commences to the time it is completed. Upon completion of such relocation, the new premises shall become the "Premises" under this Lease. d. All reasonable costs incurred by Tenant as a result of the relocation shall be paid by Landlord. e. If the new premises are smaller than the Premises as it existed before the relocation, Base Rent shall be reduced proportionately. f. The parties hereto shall immediately execute an amendment to this Lease setting forth the relocation of the Premises and the reduction of Base Rent, if any.

  • Condition of Premises Lessor makes no warranty or representation as to the Premises. Lessee acknowledges and agrees that it has occupied and familiarized itself with the Premises and has had adequate opportunity to investigate and inspect the condition of the Premises, and enters into this Lease upon the basis of its own review, and is leasing the Premises in their “AS IS, WHERE IS” CONDITION WITH ALL FAULTS, WHETHER PREVIOUSLY EXISTING OR ARISING FROM OR PERTAINING TO ANY CONSTRUCTION, RENOVATION, RELOCATION OR IMPROVEMENT OF ANY PORTION OF THE PREMISES PERFORMED BY LESSOR OR OTHERS, INCLUDING BUT NOT LIMITED TO BOTH LATENT AND PATENT DEFECTS. EXCEPT AS EXPRESSLY SET FORTH TO THE CONTRARY IN THIS LEASE, NO WARRANTIES, EXPRESS OR IMPLIED, ARE MADE BY LESSOR OR ANY OF ITS AFFILIATES CONCERNING SUCH ITEMS, INCLUDING BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. LESSEE HEREBY WAIVES AND DISCLAIMS ANY WARRANTIES THAT MAY ARISE BY OPERATION OF LAW. Lessee further acknowledges and agrees that it has had an opportunity to review and to discuss with various agents and/or representatives of Lessor the environmental condition of the Premises. Lessee has investigated and has knowledge of operative or proposed governmental laws and regulations including, without limitation, environmental laws and regulations to which the Premises are or may be subject and enters into this Lease upon the basis of its review and determination of the applicability and effect of such laws and regulations. Lessee acknowledges that Lessor expressly disclaims any representations or warranties of any kind or nature, express or implied, as to the condition (financial or otherwise), value or quality of the products, assets or properties of the Premises. Lessee hereby accepts the Premises in their condition existing as of the date hereof, subject to all applicable zoning, municipal, county and state laws, ordinances and regulations governing and regulating the use of the Premises, and accepts this Lease subject thereto and to all matters disclosed thereby and by any exhibits attached hereto. Lessee hereby agrees that all furniture, equipment, machinery and all other personal property, excepting any computers, that are located on or in the Premises as of the date hereof shall remain on the Premises as and when Lessee evacuates the Premises on the Termination Date or any extension thereof.