Example ContractsClausesCondition of Expansion Premises
Condition of Expansion Premises
Condition of Expansion Premises contract clause examples

Condition of the Expansion Premises. Except as to Landlord’s obligation to provide to Tenant an improvement allowance for the Expansion Premises in the amount of up to Forty-Three Thousand, Three Hundred Eighty Dollars ($43,380.0) (i.e., based on $15.00 per rentable square feet of the Expansion Premises) within the initial twelve (12) months of the Lease Term to reimburse Tenant for the cost of permanent improvements to the Expansion Premises made by Tenant in accordance with Article 8 (Additions and Alterations) of the Original Lease (which allowance may be referred to as the “Improvement Allowance”); provided however, Tenant shall obtain Landlord’s prior approval of a final space plan (the “Final Space Plan”) for the Expansion Premises, and Tenant will cause its architect and engineers to prepare and deliver to Tenant, for Tenant’s approval, specifications and engineered working drawings for the tenant improvements shown on the Final Space Plan to the extent necessary to obtain a building permit (the “Working Drawings”). The Working Drawings shall incorporate modifications to the Final Space Plan as necessary to comply with the floor load and other structural and system requirements of the Building. To the extent that the finishes and specifications are not completely set forth in the Final Space Plan for any portion of the tenant improvements depicted thereon, the actual specifications and finish work shall be in accordance with Landlord’s specifications for standard tenant improvement items within the Building (“Specifications”), as determined by Landlord. Tenant must use the Improvement Allowance before the first (1st) anniversary of the Expansion Premises Commencement Date. Tenant acknowledges that Landlord shall have no obligation whatsoever to construct leasehold improvements for Tenant or to repair or refurbish the Expansion Premises (except with respect to funding the improvement allowance described in this section above). Tenant’s taking of possession of the Expansion Premises shall be conclusive evidence that Tenant accepts the same “AS IS” and that the Expansion Premises is suitable for the use intended by Tenant and is in good and satisfactory condition. Tenant acknowledges that neither Landlord nor Landlord’s agents has made any representation or warranty as to the condition of the Expansion Premises or its suitability for Tenant’s purposes, and Tenant further acknowledges that it will be refurbishing or otherwise improving the Expansion Premises after it has commenced paying Rent for the Expansion Premises. Tenant represents and warrants to Landlord that # its sole intended use of the Expansion Premises is for general office use, # it does not intend to use the Expansion Premises for any other purpose, and # prior to executing this Amendment it has made such investigations as it deems appropriate with respect to the suitability of the Expansion Premises for its intended use and has determined that the Expansion Premises will be suitable for such intended use.

Condition of Expansion Premises. In addition to the requirements set forth in the Construction Rider, Lessor shall deliver the Expansion Premises to Lessee on the Expansion Commencement Date in good condition and repair, including all building systems serving the Expansion Premises. Lessee shall have thirty (30) days after the Expansion Premises Commencement Date to notify Lessor of any failure of the Expansion Premises or the building systems to comply with the foregoing covenant. If Lessee so notifies Lessor, Lessor's sole obligation shall be to correct any violation at Lessor's sole cost and expense in a diligent, timely and good and workmanlike manner.

Expansion Premises. Tenant shall continue to pay Base Rent with respect to the Expansion Premises as provided under the Lease through February 28, 2022. Commencing on March 1, 2022, and thereafter on each subsequent March 1st during through the Fifth Amendment Expiration Date (each, an “Expansion Premises Adjustment Date”), Base Rent payable with respect to the Expansion Premises shall be increased by 3% my multiplying the Base Rent payable with respect to the Expansion Premises immediately before such Expansion Premises Adjustment Date by 3% and adding the resulting amount to the Base Rent payable with respect to the Expansion Premises immediately before such Expansion Premises Adjustment Date. For the avoidance of doubt, the parties agree that Base Rent with respect to the Expansion Premises for the period commencing on the Expansion Premises Rent Commencement Date (March 7, 2019) through June 30, 2023 shall be paid in the following amounts:

Condition of Expansion Premises. The Expansion Premises are being leased by Tenant in their condition as of the delivery date, “As Is,” without representation or warranty by Landlord ..

Expansion Premises. The term of Tenant’s lease of the Expansion Premises is set forth in Section 1.7. Tenant’s lease of the Expansion Premises shall commence on the later to occur of the following dates (the “Expansion Premises Commencement Date”): # date Landlord provides Tenant with written notice that the Expansion Premises is available for Tenant’s occupancy or # January 1, 2021. When the actual Expansion Premises Commencement Date is established by Landlord, Landlord shall accurately complete the letter attached hereto as Exhibit B and Tenant shall, within ten (10) days after Landlord's request, execute the letter and deliver it to Landlord. Tenant's failure to execute the letter within said ten (10) day period shall be a default hereunder and shall constitute Tenant's acknowledgment of the truth of the facts contained in the letter delivered by Landlord to Tenant.

Condition of Expansion Premises. Except as specifically set forth herein, Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Expansion Premises, and Tenant shall accept the Expansion Premises in its presently existing, "as-is" condition. Notwithstanding the foregoing, Landlord shall cause certain portions of the HVAC system within or serving the Expansion Premises to be repaired and/or replaced as specifically set forth on Exhibit C attached hereto (“Landlord Work”), which Landlord Work shall be at Landlord’s sole cost and expense (and not a part of Direct Expenses or the Tenant Improvement Allowance (as defined in the Tenant Work Letter)). Following execution of this Second Amendment and the Expansion Possession Date, Landlord and Tenant shall reasonably and mutually cooperate to agree upon a schedule for the performance of the Landlord

Condition of Expansion Premises. Landlord represents and warrants to Tenant that on the Expansion Premises Commencement Date the roof of the Expansion Premises will be in good condition and repair and the following parts of the Expansion Premises shall be in good working order: # plumbing systems, # electrical systems and # all HVAC units (collectively, the "Building Systems"). In the event that it is determined that this warranty is untrue, Landlord shall not be in default under the Lease if after Landlord receives written notice of the representation or warranty that is untrue, Landlord promptly takes the actions, at Landlord's sole expense, necessary to put the applicable Building System in working order. The foregoing representation and warranty shall apply only to the condition of the Building Systems as of the Expansion Premises Commencement Date and shall not apply to any point in time thereafter. Tenant shall notify Landlord in writing (the "Warranty Notice") within thirty (30) days after the Expansion Premises Commencement Date, time being of the essence, (the "Notice Date") of each way, if any, that the forgoing representation and warranty was untrue on the Expansion Premises Commencement Date (an "Untrue Warranty"). The Warranty Notice shall state the specific way in which one or more Building System was not in good working order on the Expansion Premises Commencement Date. Landlord shall have no responsibility to repair any Building System unless Tenant notifies Landlord on or before the Notice Date in a Warranty Notice of the Untrue Warranty, and if Tenant notifies Landlord that a Building System was not in good working order on the Expansion Premises Commencement Date after the Notice Date, Landlord shall have no obligation pursuant to this section to repair the Building System that is not in good working order. Notwithstanding the forgoing, Landlord shall have no obligation pursuant to this section to repair a Building System if the repair is necessitated by the negligence or misuse of Tenant or by Alterations or other modifications made to the Expansion Premises by Tenant.

Expansion Premises. Landlord hereby agrees to conditionally waive the Base Rent and the Operating Expenses attributable to the Expansion Premises for ​ after the Expansion Premises Commencement Date (the “Expansion Premises Abatement Period”). Tenant shall be obligated to pay all Base Rent and Operating Expenses attributable to the Original Premises during the Expansion Premises Abatement Period. Except as provided herein and in # above, no amounts due to Landlord under the Lease other than the Base Rent and Operating Expenses referred to above shall be conditionally waived. In the event Tenant commits a material default as defined in the Lease and such default continues beyond any notice and cure period, Base Rent and Operating Expenses coming due thereafter shall not be waived, and all Base Rent and Operating Expenses that Landlord conditionally waived under this provision shall be immediately due and payable by Tenant to Landlord without notice or demand from Landlord. If the Lease expires in accordance with its terms, and does not terminate as a result of a default by Tenant, Landlord agrees to permanently waive the Base Rent and Operating Expenses it has conditionally waived.

Expansion Premises. Effective, April 1, 2021 (“Expansion Commencement Date”), the Existing Premises shall be expanded by approximately 57,760 rentable square feet as depicted on [Exhibit A] attached hereto (the “Expansion Premises”). Accordingly, as of the Expansion Commencement Date, all references in the Lease to the term “Premises” shall hereinafter mean and include the Existing Premises and Expansion Premises (i.e., the entire Building) which will then consist of approximately 64,643 rentable square feet. Landlord and Tenant each acknowledge and agree that the aforesaid description of the size and square footage of the Premises and the Building are an approximation, which the parties agree is reasonable and payments made thereupon are not subject to dispute..

Condition of Expansion Premises. Tenant acknowledges and agrees that Tenant is leasing the Expansion Premises in its “AS IS,” “WHERE IScondition and with all faults on the Expansion Premises Term Commencement Date, without representations or warranties, express or implied, in fact or by law, of any kind, and without recourse to Landlord, except that Landlord shall perform the Expansion Premises Work in accordance with the provisions of this Section 27 and Exhibit 5.

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