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Net Lease
Net Lease contract clause examples

New Lease; Lease Amendment. If Tenant leases the Station 5 Premises pursuant to this Paragraph 42, Landlord shall prepare, and Landlord and Tenant shall execute within thirty (30) days after Tenant’s delivery of the Expansion Exercise Notice, # a new lease demising the Station 5 Premises on the same terms and conditions of this Lease as modified pursuant to Paragraph 42.3 (for purposes of this Paragraph 42, the “Station 5 Lease”).

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 Landlord’s 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 Tenant’s 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 Tenant’s 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.

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