of the Lease in the amount of $67,373.11 for the Original Premises, as a credit against the Monthly Base Rent next coming due under the Lease, and Landlord shall continue to hold $32,786.90 as security for the performance of Tenant’s obligations under the Amended Lease.
circumstances as set forth in items (i), (ii) or (iii), above, to be known as an “Abatement Event”), then shall give notice of such Abatement Event, and if such Abatement Event continues for five (5) consecutive business days after ’s receipt of any such notice (the “Eligibility Period”), then the Base Rent and ’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that continues to be so prevented from using, and does not use, the Premises or a portion thereof, in the proportion that the rentable area of the portion of the Premises that is prevented from using, and does not use, bears to the total rentable area of the Premises; provided, however, in the event that is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow to effectively conduct its business therein, and if does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which is so prevented from effectively conducting its business therein, the Base Rent and ’s Share of Direct Expenses for the entire Premises shall be abated for such time as continues to be so prevented from using, and does not use, the Premises. If, however, reoccupies any portion of the Premises during such period (except for the maintenance of a skeleton crew as provided above), the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by from the date reoccupies such portion of the Premises. To the extent an Abatement Event is caused by an event covered by Articles 11 or 13 of this Lease, then ’s right to abate rent shall be governed by the terms of such Article 11 or 13, as applicable, and the Eligibility Period shall not be applicable thereto. Such right to abate Base Rent and ’s Share of Direct Expenses shall be ’s sole and exclusive monetary remedy for rent abatement at law or in equity for an Abatement Event. Except as provided in this Section 19.5.2, or in Articles 11 or 13, nothing contained herein shall be interpreted to mean that is excused from paying Rent due hereunder.
Omniox is entering into an amendment with Landlord to the Omniox Lease pursuant to which Omniox will surrender the Expansion Premises and will lease an alternate premises in the Building.
approximately 15,116 rentable square feet on the ground floor of the Building (the “First Expansion Premises”), and # approximately 6,480 rentable square feet on the ground floor of the Building (the “Second Expansion Premises”) in that certain building located at 7000 Shoreline Court, South San Francisco, California (the “Building”). The Premises are more particularly described in the Lease. Capitalized terms used herein without definition shall have the meanings defined for such terms in the Lease.
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 Demised Premises during the initial term shall apply during such renewal term, except that # Tenant shall have no further right to renew this Lease, # Tenant shall take the Demised Premises in their then as-is state and condition, # the annual fixed rent payable by Tenant for the Demised Premises shall be equal to ninety-five percent (95%) of the then fair market rent for the Demised Premises based upon the terms of this Lease, as renewed, # the Operating Expense Base for the Demised Premises shall be the calendar year in which the renewal term commences, and # the Tax Base 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 space will be covered by the Lease. For purposes of this Article 22, the term fair market rent shall mean the rental rate for comparable space under primary lease (and not sublease) to new tenants, taking into consideration the unique quality and prestige of the Building and such amenities as existing improvements, view, floor on which the Demised Premises are situated and the like, situated in first-class, reputable, established high-rise office buildings in comparable locations in Mid-town Manhattan, in comparable physical and
All monthly installments of Base Rent, all Additional Rent and all monthly installments of estimated Additional Rent have been paid when due through . The current monthly installment of Base Rent is $ .
The Term of the Lease, as it relates to the 5,003 Expansion Premises, shall expire on October 31, 2028 (the “Expiration Date”). The Term of the Lease, as it relates to the Original Premises, is hereby extended to and including the Expiration Date; it being the express intention of the parties that, following the 5,003 Expansion Premises Commencement Date, the Term of the Lease as it relates to the 5,003 Expansion Premises shall run co-terminously with the Term of the Lease as it relates to the Original Premises. Accordingly, unless otherwise indicated by the context of its usage, each reference in the Original Lease or this Agreement to the terms “Expiration Date,” or otherwise to the scheduled date of expiration of the Lease, shall hereafter mean and refer to October 31, 2028.
Terms of Lease of Station 5 Premises pursuant to Expansion Option. If Tenant timely and properly delivers the Expansion Exercise Notice, subject to Paragraph 42.4, Landlord and Tenant shall lease the Station 5 Building to Tenant on the terms and conditions set forth in this Lease (including the terms and conditions of the Tenant Improvement Agreement), provided, however, that # the Base Rent (including any rent abatement and tenant allowances) shall be at the Prevailing Market Rate as agreed to by Landlord and Tenant (or, if Landlord and Tenant are unable to agree upon the Prevailing Market Rent within thirty (30) days after delivery of the Expansion Exercise Notice, as determined in accordance with Paragraph 3.3.4 through 3.3.6 based upon binding lease transactions for tenants in Comparable Buildings); # the term shall commence on the date that Landlord substantially completes Landlords work with respect to the Station 5 Building; # the term shall expire no earlier than the tenth (10th) anniversary of the date on which the Station 5 Premises is delivered to Tenant; # upon execution of the Station 5 Lease (as defined below), Tenant shall pay to Landlord an amount equal to the estimated amount of monthly Base Rent and Tenants Proportionate Share of Estimated Operating Expenses for the first month of the Station 5 Lease and a security deposit equal to six months of Base Rent and Tenants Proportionate Share of Estimated Operating Expenses; and # the Station 5 Building shall be constructed pursuant to the building plans provided with the Offering Notice (as may be adjusted to comply with changes in the application and interpretation of Applicable Laws). The lease for Station 5 shall further provide the following: # Landlord shall provide written notice to Tenant of the date on which Landlord has commenced construction of the Station 5 Building, # if Landlord shall not have commenced construction of the Station 5 Building on or before a date that is 450 days prior to the outside delivery date set forth in the Offering Notice (the Outside Construction Commencement Date), Tenant, as its sole remedy, shall have the right to terminate the lease for the Station 5 Building, which termination right shall be exercised, if at all, within thirty (30) days after receipt of such notice of commencement of construction; and # if Landlord does not deliver notice of commencement of construction on or prior to the Outside Construction Commencement Date, Tenant, as its sole remedy, shall have the right to terminate the lease for the Station 5 Building, which termination right shall be exercised, if at all, within thirty (30) days after the Outside Construction Commencement Date.
Holding Over. If, with Landlords express written consent, Tenant retains possession of the Premises after the termination of the Term, # unless otherwise agreed in such written consent, such possession shall be subject to immediate termination by Landlord at any time, # all of the other terms and provisions of this Lease (including, without limitation, the adjustment of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion or renewal option or other similar right or option) during such holdover period, # Tenant shall continue to pay Base Rent in the amount payable upon the date of the expiration or earlier termination of this Lease or such other amount as Landlord may indicate, in Landlords sole and absolute discretion, in such written consent, and # all other payments shall continue under the terms of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of the Term without the express written consent of Landlord, # Tenant shall become a tenant at sufferance upon the terms of this Lease except that the monthly rental shall be equal to 150% of Rent in effect during the last 30 days of the Term, and # Tenant shall be responsible for all damages suffered by Landlord resulting from or occasioned by Tenants holding over, including consequential damages. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the Premises. Acceptance by Landlord of Rent after the expiration of the Term or earlier termination of this Lease shall not result in a renewal or reinstatement of this Lease.
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.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.