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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The Rent Commencement Date for the Expansion Space shall be July 1st, 2020, subject to extension as provided above in Paragraph 3. Beginning on the Rent Commencement Date, Minimum Rent and all additional rent will be calculated using a Floor Area of 50,148 rentable square feet.

The Expansion Premises Commencement Date under the Lease is February 16, 2016.

Definition of Premises and Rentable Area of Premises. Commencing on the Expansion Premises Commencement Date, the defined terms “Premises” and “Rentable Area of Premises” on Page 1 of the Lease shall be deleted in their entirety and replaced with the following:

Expansion of Field. In the event that Axsome Develops the version of Licensed Product that Axsome is selling outside of the Territory for a therapeutic indication, other than the therapeutic indications listed in [clauses (i) and (ii) of Section 1.29], Axsome shall so notify Licensee and the definition of Field shall automatically be expanded to include such additional therapeutic indications.

and will be required to pay on a per diem basis # 50% of the Base Annual Rent (as defined in the Lease) with respect to the Surrender Premises at the rates which would otherwise be in effect for the Surrender Premises pursuant to the terms of the Original Lease as if it was not a holdover and

Repair roof and window leaks in the entire Premises, as per the terms of the Lease. For greater certainty, the Expansion Premises becomes part of the Premises and the same covenants apply.

Except as may be otherwise indicated by the context of its usage, each reference to the terms “demised premises” or “Demised Premises” in the Original Lease and this Agreement shall mean the Original Premises together with the 5,003 Expansion Premises;

AS-IS. TENANT AGREES THAT IT IS NOT RELYING ON ANY WARRANTY OR REPRESENTATION MADE BY LANDLORD, LANDLORD’S AGENTS, OR ANY BROKER CONCERNING THE USE OR CONDITION OF THE EXPANSION PREMISES, COMMON AREAS OR THE PROPERTY. TENANT ACKNOWLEDGES AND AGREES THAT IT HAS INSPECTED THE EXPANSION PREMISES AND THAT IT ACCEPTS THE EXPANSION PREMISES IN THEIR PRESENT “AS-IS, WHERE IS” PHYSICAL CONDITION, WITHOUT ANY OBLIGATION BY LANDLORD TO PAINT, REDECORATE, OR PERFORM ANY OTHER WORK IN, ON OR ABOUT THE EXPANSION PREMISES AT ANY TIME, EXCEPT AS OTHERWISE SPECIFICALLY SET FORTH IN THIS LEASE. LANDLORD, ANY AGENT OF LANDLORD AND ANY BROKER HAVE NOT MADE, AND WILL NOT MAKE, ANY WARRANTY OR REPRESENTATION OF ANY KIND, EXPRESSED OR IMPLIED, WITH RESPECT TO THE EXPANSION PREMISES, THE BUILDING, COMMON AREAS OR ANY OTHER PORTION OF THE PROPERTY. LANDLORD EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTY OF SUITABILITY, HABITABILITY OR MERCHANTABILITY; IT BEING UNDERSTOOD THAT THE FOREGOING SHALL NOT BE CONSTRUED TO DIMINISH THE OBLIGATIONS OF LANDLORD THAT ARE EXPRESSLY SET FORTH IN THIS AMENDMENT.

The term “’s Proportionate Share” shall mean # 20.43% when used in relation to the Original Premises only; or # 5.40% when used in relation to the 5,003 Expansion Premises only; or # 25.83% when used in relation to the entire Demised Premises.

Limitation on 14th Floor Expansion Option. Notwithstanding the foregoing, if # on the date of exercise of the 14th Floor Expansion Option, or the date immediately preceding the date the Lease term for the 14th Floor Expansion Space is to commence, there exists an uncured breach of this Lease by Tenant, or # on the date immediately preceding the date the Lease term for the 14th Floor Expansion Space is to commence Tenant named herein # is not in occupancy of the entire Premises then leased hereunder or # does not intend to occupy the entire Premises, together with the 14th Floor Expansion Space, then, at Landlord’s option, Tenant shall have no right to lease the 14th Floor Expansion Space and the exercise of the right of first offer shall be null and void.

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