Example ContractsClausesBase Rent for the Expansion Premises
Base Rent for the Expansion Premises
Base Rent for the Expansion Premises contract clause examples
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With respect to periods from and after the 5,003 Expansion Premises Commencement Date, the definition of the term “Base CAM Charge” in Paragraph 47 of the Original Lease shall be deemed to have been modified and amended so as to delete therefrom the reference to the amount “$852.75” and replace same with a corresponding reference to the amount “$1,077.89.” The parties hereby agree that the Base CAM Charge is included in the Rent set forth in [Section 2.3] of this Agreement.

With respect to periods from and after the 5,003 Expansion Premises Commencement Date, the definition of the term “Base Insurance Charge” in Paragraph 59(g) of the Original Lease shall be deemed to have been modified and amended so as to delete therefrom the reference to the amount “$331.63” and replace same with a corresponding reference to the amount “$419.18.” The parties hereby agree that the Base Insurance Charge is included in the Rent set forth in [Section 2.3] of this Agreement.

Except as set forth in this First Amendment: # Tenant shall accept the Expansion Premises in their “as-is” condition as of the Expansion Premises Commencement Date, subject to all applicable Legal Requirements; # Landlord shall have no obligation for any defects in the Expansion Premises; and # Tenant’s taking possession of the Expansion Premises shall be conclusive evidence that Tenant accepts the Expansion Premises and that the Expansion Premises were in good condition at the time possession was taken.

Terms and Conditions. If Tenant exercises the renewal option, then all of the terms and conditions set forth in this Lease as applicable to the 14th Floor Expansion Space during the initial term shall apply during such renewal term, except that # Tenant shall have no further right to renew the Lease as to the 14th Floor Expansion Space, # Tenant shall take the 14th Floor Expansion Space in its then “as-is” state and condition for the renewal term, # the annual fixed rent payable by Tenant for the 14th Floor Expansion Space shall be the then fair market rent for the 14th Floor Expansion Space based upon the terms of the Lease as to the 14th Floor Expansion Space, as renewed, # the Operating Expense Base under [Section 4.05(c)] of the Lease for the 14th Floor Expansion Space shall be the calendar year in which the renewal term commences, and # the Tax Base under [Section 4.01(b)] of the Lease for the 14th Floor Expansion Space shall be the fiscal tax year in which the renewal term commences. Fair market rent shall include the periodic rental increases, if any, that would be included for space leased for the period the 14th Floor Expansion Space will be covered by the Lease. For purposes hereof, the term “fair market rent” shall have the meaning set forth above in Paragraph 1.b.(i) above. The fair market rent shall be mutually agreed upon by Landlord and Tenant in writing within the thirty (30) calendar day period commencing six (6) months prior to commencement of the renewal period. If Landlord and Tenant are unable to agree upon the fair market monthly rent within said thirty (30) day period, then the fair market rent shall be established by appraisal in accordance with the procedures set forth in attached Exhibit B.

Monthly and annual installments of Base Rent for the Premises (“Base Rent”) as of the Term Commencement Date, subject to the Abatement Amount credited to Tenant during the Abatement Period pursuant to the terms and conditions of Section 8 below:

# or its agents and/or contractors shall have a right to enter the 5,003 Expansion Premises subsequent to the commencement of the 5,003 Expansion Work but prior to the 5,003 Expansion Premises Commencement Date in order for to install its telephone and computer lines or furniture in preparation for ’s occupancy thereof, all of the provisions of this lease, except ’s obligation to pay Rent, shall govern such entry (including without limitation, ’s insurance and indemnification obligations). Any such entry shall be subject to prior notice to Landlord and ’s satisfaction of the conditions of this paragraph and such entry shall only permitted with respect to the office portion of the 5,003 Expansion Premises. Prior to entering the 5,003 Expansion Premises shall deliver to Landlord # evidence of all insurance policies required to be maintained by under this lease, # evidence of insurance satisfactory to Landlord maintained by the contractors or vendors entering the 5,003 Expansion Premises and # and any contractors or vendors entering the 5,003 Expansion Premises on behalf of shall have entered into an early access and indemnity agreement on Landlord’s form attached hereto as [Exhibit B]. shall coordinate ’s (and/or ’s contractors and/or ’s employees) entry upon the 5,003 Expansion Premises and the performance of the above-referenced installations (and the timing thereof) with Landlord, and (and ’s contractors and employees) shall not interfere with Landlord’s performance of the 5,003 Expansion Work, if any, in entering upon the 5,003 Expansion Premises and/or in performing such installations. In the event that (and/or ’s contractors and/or ’s employees) interferes with Landlord’s performance of the 5,003 Expansion Work, such interference shall be deemed a Delay (in addition to those delineated herein).

Right of First Refusal. Effective as of the Expansion Date (as defined below), the Premises are expanded to include the space described on Exhibit B attached hereto (the “Expansion Premises”), which Expansion Premises consist of approximately 6,282 rentable square feet.

Expansion; Grant of Expansion Space. Effective as of that date (the “Expansion Date”) which is the earlier of # the date on which the Expansion Space is Substantially Complete, as defined in Exhibit C attached hereto, and ready for occupancy or # the date Tenant occupies the Premises to conduct its business therein, Landlord agrees to lease to Tenant and Tenant agrees to lease from Landlord, for the entire Term, as may be further extended, and subject to and in accordance with the terms of the Lease, an additional 2,872 rentable square feet of space as shown on Exhibit A attached hereto and by this reference made a part hereof (the “Expansion Space”). If Landlord is delayed in delivering possession of the Expansion Space due to any reason, including but not limited to the holdover or unlawful possession of such space by any third party, such delay shall not be a default by Landlord, render the Lease or this Amendment void or voidable, or otherwise render Landlord liable for damages; provided, however, if Landlord is unable to deliver the Expansion Space to Tenant by October 31, 2015 for reasons not caused by, or attributable to, Tenant Delay (as defined in Exhibit C attached hereto) or by a Force Majeure Delay (as defined in the Lease), Tenant may terminate this Amendment by giving notice to Landlord. As of the Expansion Date: # the Expansion Space shall be subject to all of the terms and conditions of the Lease, as amended herein, for the entire Term, as may be further extended, # all references in the Lease to the “Premises” shall be deemed to include the Original Premises and the Expansion Space; # the total rentable square feet of space leased pursuant to the Lease shall be 10,297 rentable square feet on the 3rd floor of the Building; and # the Premises, as so expanded, shall be collectively known as Suite 300. After the occurrence of the Expansion Date, Tenant and Landlord shall execute a certificate in the form attached hereto as Exhibit B stipulating and agreeing to, the Expansion Date.

Tenant shall continue to pay all Base Rent, Additional Rent and all other amounts payable under the Lease and the Storage License for the Reduction Premises and shall perform all other obligations of Tenant under the Lease and the Storage License, until the later of # Reduction Date or # upon completion of Tenant’s Reduction Premises Surrender Obligations. In the event that Tenant has not completed Tenant’s Reduction Premises Surrender Obligations by the Reduction Date, then Base Rent, Additional Rent and other amounts payable under the Lease and the Storage License for the Reduction Premises will be owed on a per diem basis for each day Tenant has not completed Tenant’s Reduction Premises Surrender Obligations after the Reduction Date. For clarity, Tenant’s continued ability to access an IT closet and associated IT equipment in Suite [[Unknown Identifier]] pursuant to Section 1(a) of this Agreement shall not constitute Tenant’s failure to complete Tenant’s Reduction Premises Surrender so long it is completed by May 31, 2023.

Landlord and Tenant desire to confirm the Expansion Premises Commencement Date and the date the Expansion Term of the Lease expires.

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