Example ContractsClausesBeneficial Occupancy
Beneficial Occupancy
Beneficial Occupancy contract clause examples

Beneficial Occupancy. Subject to the terms of this Section 1.3.6, if the Tenant Improvements (as defined in Section 2.1 of the Tenant Work Letter) are “Substantially Complete,” as that term is defined in the Tenant Work Letter, prior to the Must-Take Space Commencement Date, Tenant shall have the right thereafter to occupy the Must-Take Space prior to the Must-Take Space Commencement Date for the conduct of Tenant's business; provided that # Tenant shall give Landlord at least ten (10) business days' prior written notice of any occupancy of the Must-Take Space for the conduct of Tenant's business, # a temporary certificate of occupancy shall have been issued by the appropriate governmental authorities for the Must-Take Space to be occupied for the conduct of Tenant's business, # Tenant has delivered to Landlord satisfactory evidence of the insurance coverage required to be carried by Tenant in accordance with Article 10 below, and # except as provided hereinbelow, all of the terms and conditions of the Lease shall apply as though the Must-Take Space Commencement Date had occurred upon Tenant's commencement of the conduct of its business in the Must-Take Space ; provided, however, notwithstanding the foregoing, Tenant shall only pay Base Rent and Tenant's Share of Direct Expenses attributable to the portion of the Must-Take Space that Tenant is conducting business (calculated on a per-square foot basis), provided that Tenant shall be deemed to be conducting business in any portion of the Must-Take Space for which Tenant has requested and been given access for the conduct of ordinary business (as opposed to access for construction of the Tenant Improvements or installation of Tenant’s furniture, fixtures and equipment).

Beneficial Occupancy. Subject to the terms of this Section 2.3, if the Improvements are substantially completed prior to the Lease Commencement Date and the Final Condition Date has occurred, Tenant shall have the right thereafter to occupy the Premises prior to the Lease Commencement Date for the conduct of Tenant's business; provided that # Tenant shall give Landlord at least ten (10) days' prior written notice of any occupancy of the Premises for the conduct of Tenant's business, # Tenant has delivered to Landlord satisfactory evidence of the insurance coverage required to be carried by Tenant in accordance with Article 10 below, and # except as provided hereinbelow, all of the terms and conditions of the Lease shall apply as though the Lease Commencement Date had occurred (although the Lease Commencement Date shall not actually occur until the occurrence of the same pursuant to the terms of Section 2.1, above) upon Tenant's commencement of the conduct of its business in the Premises; provided, however, notwithstanding the foregoing, Tenant shall have no obligation to pay Base Rent or Tenant's Share of Direct Expenses attributable to the Premises, though Tenant shall be obligated to pay utility costs pursuant to Article 6 below, and all other Additional Rent, if any, during such period.

Beneficial Occupancy. During the period from September 1, 2019 to December 31, 2019, Tenant shall have the right to commence general preparation work for, and/or instruct Landlord to commence, the “Tenant Improvements,” as that term is defined in the Tenant Work Letter attached hereto as Exhibit B (the “Tenant Work Letter”) (provided that Tenant’s and Landlord’s ability to access the Expansion Premises during such period is subject to AIG’s continued occupancy, if any, of the Expansion Premises) . Landlord and Tenant acknowledge that the Expansion Premises is currently leased by AIG (such lease, the “AIG Lease”) and further that the AIG Lease is scheduled to expire on August 31, 2019. Subject to the terms of this Section 3.3(a) and Section 3.3(b), below, Tenant shall also have the right to negotiate and enter into a sublease of all or any of the Expansion Premises with AIG on substantially similar terms to the AIG Lease and otherwise consistent with the terms of the Lease, as amended hereby (the “AIG Sublease”), for the period from September 1, 2019 to December 31, 2019 (the “AIG Sublease Term”). If Tenant and AIG enter into the AIG Sublease, then during the AIG Sublease Term, Tenant shall have the right to occupy all or any the Expansion Premises for the purpose of permitting AIG's continued occupancy of all or any of the Expansion Premises under the AIG Sublease, provided that # Tenant shall give Landlord at least ten (10) days’ prior notice of the full execution and delivery of the AIG Sublease, # Tenant shall not be in monetary or material non-monetary default beyond applicable notice and cure periods under the Lease, as amended, and # all of the terms and conditions of the Lease, as amended, shall apply, other than Tenant’s obligation to pay Base Rent and Tenant’s Share of Direct Expenses attributable to the Expansion Premises, as though the Expansion Commencement Date had occurred (although the Expansion Commencement Date shall not actually occur until the occurrence of the same pursuant to the terms of Section 2, above) upon such occupancy of the Expansion Premises by Tenant.

Occupancy. Once the Phase 1 Tenant Improvements are completed and a certificate of occupancy has been issued by the City of Eden Prairie, Tenant may occupy the Phase 1 Expansion Space.

Occupancy. Once the Phase 2 Tenant Improvements are completed and a certificate of occupancy has been issued by the City of Eden Prairie. Tenant may occupy the Phase 2 Expansion Space.

OCCUPANCY. If LESSEE takes possession of the premises prior to the commencement of this lease, LESSEE shall perform all terms of this lease from the date it takes possession. LESSOR may require LESSEE at LESSEE’S expense to relocate to another similar premises (which shall be within the same municipality as the current premises, unless *LESSEE is not regularly occupying the premises) at any time upon written notice to LESSEE and on terms comparable to those herein. If any of LESSEE parties occupies, controls, or encumbers any part of the premises without LESSOR’S written permission after the termination of this lease or otherwise beyond the period specified by LESSOR in writing, LESSEE shall be liable to LESSOR for any and all loss, damages, and/or expenses incurred by LESSOR, including consequential damages, and all terms of this lease shall continue to apply, except that use and occupancy payments shall be due in full monthly installments at a rate which shall be two times the greater of the monthly rent due under this lease for the immediately preceding calendar month or LESSOR’S then-current published one-year rental rate for the premises, it being agreed that such extended occupancy is a tenancy at sufferance, solely for the benefit and convenience of LESSEE and of greater rental value. The occupancy, control, or encumbrance of any part of the premises by any of LESSEE parties beyond noon on the last day of any rental period shall constitute occupancy for an entire additional month, and increased payment as provided in this section shall be immediately due and payable. LESSOR’S acceptance of any payments shall not alter LESSEES status as a tenant at sufferance.

Occupancy Report. A certified occupancy report with respect to the Punta Gorda Parcel in form and substance reasonably satisfactory to Administrative Agent.

Occupancy Report. A certified occupancy report with respect to the Property in form and substance reasonably satisfactory to Administrative Agent.

The Expansion Premises shall be added to the Lease on the “Expansion Premises Rent Commencement Date” which shall be defined as the earlier of: # delivery of the certificate of occupancy for the Expansion Premises; or # July 1, 2020. Notwithstanding the foregoing, Landlord shall allow limited beneficial occupancy of up to ten (10) Tenant employees in that area of the Expansion Premises as shown on Exhibit D (“Limited Occupancy Space”). Tenant shall ensure that such limited beneficial occupancy falls under an existing certificate of occupancy and complies with any and all occupancy laws and applicable regulations.

Occupancy by Others. Notwithstanding any contrary provision of this Article 14, the Original Tenant shall have the right, without the receipt of Landlord's consent and without payment to Landlord of the Transfer Premium, but on not less than five (5) days prior written notice to Landlord, to permit the occupancy of up to ten percent (10%) of the Premises, in the aggregate, to any individual(s) with an ongoing business relationship with Tenant (other than the dual occupancy of the Premises) (each, a "Permitted User"), which occupancy may include the use of a corresponding interior support area and other portions of the Premises which shall be common to Tenant and the permitted occupants, on and subject to the following conditions: # Landlord and any Landlord Party shall not have litigated against any such proposed Permitted User; # the Permitted User shall not be entitled, directly or indirectly, to diplomatic or sovereign immunity and shall be subject to service of process in and subject to the jurisdiction of, the courts of the State; # each Permitted User shall be of a character and reputation consistent with the quality of the Building and the Project; # no Permitted User shall occupy a separately demised portion of the Premises or which contains an entrance to such portion of the Premises other than the primary entrance to the Premises; # the rent, if any, paid by such Permitted User shall not be greater than the rent allocable on a pro rata basis to the portion of the Premises occupied by such occupants, and # such occupancy shall not be a subterfuge by Tenant to avoid its obligations under this Lease or the restrictions on Transfers pursuant to this Article 14. Tenant shall promptly supply Landlord with any documents or information reasonably requested by Landlord regarding any such individuals or entities. Any occupancy permitted under this Section 14.9 shall not be deemed a Transfer under this Article 14. Notwithstanding the foregoing, no such occupancy shall relieve Tenant from any liability under this Lease.

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