Example ContractsClausesRedevelopment of Project
Redevelopment of Project
Redevelopment of Project contract clause examples

Redevelopment of Project. Tenant acknowledges that Landlord intends # to undertake significant renovations and/or construction at the Project (other than the Premises), including for lab, office and retail uses and including, without limitation, the creation of one or more Amenities or Amenity buildings or centers (provided Landlord does not currently intend to, but may, undertake the same with respect to the Building) and # to construct a glass connector in the central courtyard of the Building (the “Glass Connector”), which Glass Connector (if constructed) shall be approximately as shown on Exhibit J. Landlord expressly reserves the right, in its sole discretion, from time to time to expand, develop, renovate, redevelop, alter, improve, maintain, construct, demolish, relocate and/or reconfigure the Project (or portions thereof) and buildings (other than the Premises), Common Areas (including parking and site drives and Common Areas located within the basement of the Building or the central plant of the Building) and other improvements therein, as the same may exist from time to time and, in connection therewith or in addition thereto, as the case may be, from time to time without limitation: # change the shape, size, location, number and/or extent or existence of any improvements, buildings, structures, lobbies, hallways, entrances, exits, and (subject to Section 10) parking and/or parking areas (and in any event other than the Premises); # modify, eliminate and/or add any buildings, improvements, and parking structure(s) either above or below grade, from or to the Project, the Amenities or other Common Areas and/or any other portion of the Project and/or make any other changes thereto (other than the Premises); # amend any existing land use and zoning approvals for the Project (including, without limitation, any special permit applicable to the Project) and seek additional approvals, relief or zoning amendments in connection with any future expansion, development, renovation, redevelopment, alteration, demolition, relocation, improvement, operation, maintenance or repair of the Project (including, without limitation, the Common Areas); and # make any other changes, additions and/or deletions in any way affecting the Project and/or any portion thereof as Landlord may elect from time to time, including without limitation, creation and/or elimination of, and/or additions to and/or deletions from, the land comprising the Project, the Amenities or other Common Areas and/or any other portion of the Project (other than the Premises); provided that, in all events, Landlord uses reasonable efforts not to unreasonably interfere with Tenant’s use of the Premises, Tenant’s express rights under the Lease, and access to the Premises under the Lease in undertaking such activities, and the result of such changes, additions and/or deletions shall not unreasonably interfere with Tenant’s access to the Premises, use of the Premises in accordance with the Lease, and Tenant’s express rights under the Lease. Landlord shall have the right, in connection with such contemplated activities, to subject the Project and its appurtenant rights to easements for the construction, reconstruction, alteration, demolition, relocation, improvement, operation, repair or maintenance of elements thereof, for access and egress, for parking, for the installation, maintenance, repair, replacement or relocation of utilities serving the Project, and to subject the Project to such other rights, easements, agreements, and covenants for such purposes as Landlord may determine; provided that such easements, rights, agreements, and covenants do not unreasonably interfere with Tenant’s access to the Premises and do not change Tenant’s Permitted Use of the Premises or materially adversely affect Tenant’s express rights under the Lease or materially increase Tenant’s obligations. This Lease shall be subject and subordinate to all such easements, rights, agreements, and covenants to the extent in compliance with this Section 45(o). Landlord will provide Tenant a copy of any such instrument evidencing such matters. For the avoidance of doubt, however, Landlord shall have no obligation to undertake any action described in this Section 45(o), and Tenant is not entering into this Lease in reliance of Landlord making any alteration to the Project or any other action described in this Section 45(o) other than as set forth in the Work Letter.

Project. The site plan depicting the contemplated configuration of the Project is attached hereto as Exhibit A‑1. Notwithstanding the foregoing or anything contained in this Lease to the contrary, Landlord has no obligation to expand or otherwise make any improvements within the Project (other than Landlord's obligation to perform all work necessary for the Final Condition (as described in Section 1.3 of the Work Letter) and the obligation to construct Buildings 1 and 2 within Phase 1 so that Tenant's Right of First Offer described in Section 1.3, below shall be exercisable).

Redevelopment of Project. Tenant acknowledges that Landlord, in its sole discretion, may from time to time, subject to the third sentence of Section 1, expand, renovate and/or reconfigure the Project as the same may exist from time to time and, in connection therewith or in addition thereto, as the case may be, from time to time without limitation: # change the shape, size, location, number and/or extent of any improvements, buildings, structures, lobbies, hallways, entrances, exits, parking and/or parking areas relative to any portion of the Project; # modify, eliminate and/or add any buildings, improvements, and parking structure(s) either above or below grade, to the Project, the Common Areas and/or any other portion of the Project and/or make any other changes thereto affecting the same; and # make any other changes, additions

Project. The development depicted on Exhibit A-11] and known as America Center consisting of the real property and all improvements built thereon, including, without limitation, the Land, the Building, the Other Buildings, the Common Area, and Parking Facilities, containing approximately 427,600 Rentable Square Feet in the Phase I Buildings and 465,045 Rentable Square Feet in the Phase II Buildings. The “Phase I Buildings” means the buildings identified on Exhibit A-11] as Existing Building 1 located at 6001 America Center Drive, San Jose, California 95002 and as Existing Building 2 located at 6201 America Center Drive, San Jose, California 95002. The “Phase II Buildings” means the Building, the Amenity Building and the building identified on Exhibit A-11] as Phase II Building 3 located at 6280 America Center Drive, San Jose, California 95002 (“Building 3”). The “Other Buildings” means the Phase I Buildings, the Amenity Building, Building 3 and any other buildings located on the Land that Landlord may elect to include as part of the Project from time to time. Landlord reserves the right to adjust the Rentable Square Footage of the Project and the Other Buildings by delivering notice to Tenant that one or more Other Buildings have been sold, constructed, modified or removed from the Project or that the Common Areas have been modified.

Redevelopment of Project. Tenant acknowledges that Landlord, in its sole discretion, may from time to time, subject to the 4th sentence of Section 1 of this Lease, expand, renovate and/or reconfigure the Project as the same may exist from time to time and, in connection therewith or in addition thereto, as the case may be, from time to time without limitation: # change the shape, size, location, number and/or extent of any improvements, buildings, structures, lobbies, hallways, entrances, exits, parking and/or parking areas relative to any portion of the Project; # modify, eliminate and/or add any buildings, improvements, and parking structure(s) either above or below grade, to the Project, the Common Areas and/or any other portion of the Project and/or make any other changes thereto affecting the same; and # make any other changes, additions and/or deletions in any way affecting the Project and/or any portion thereof as Landlord may elect from time to time, including without limitation, additions to and/or deletions from the land comprising the Project, the Common Areas and/or any other portion of the Project. Tenant acknowledges and agrees that construction noise, vibrations and dust associated with normal construction activities in connection with any redevelopment of the Project are to be expected during the course of such construction. Notwithstanding anything to the contrary contained in this Lease, Tenant shall have no right to seek damages (including abatement of Rent) or to cancel or terminate this Lease because of any proposed changes, expansion, renovation or reconfiguration of the Project as provided in this section nor shall Tenant have the right to restrict, inhibit or prohibit any such changes, expansion, renovation or reconfiguration; provided, however, Landlord shall not change the size, dimensions, location, improvements or Tenant’s Permitted Use of the Premises or, other than on a temporary short-term basis, materially adversely affect Tenant’s parking rights under Section 10.

Las Vegas Project” means that certain proposed development project consisting of the redevelopment of the existing Hard Rock Hotel and Casino in Las Vegas, Nevada under the Virgin Hotels brand, pursuant to which MGNV entered into a casino lease agreement with JC Hospitality, LLC.

Approved Project Budget” means, in respect of any given Project, the budget for the acquisition or leasing of properties, in each case, for the purpose of the development or redevelopment and construction of such Project, as well as the operation, maintenance, repair and initial lease-up of the Project, as Approved by the Investors in accordance with the Framework Agreement, which budget shall set forth in detail the breakdown of the total estimated cost of such Project and revenues into appropriate categories, including, without limitation, the direct development or redevelopment and construction costs estimated to be incurred, the costs that have then been incurred, income forecasts, operating and maintenance costs and the amounts payable to the Development Managers pursuant to the Development and Construction Management Agreement or to the Operations Manager pursuant to the Operations Management Agreement, together with the estimated timing of all such expenditures and revenues on

Redevelopment of Project. Tenant acknowledges that Landlord, in its sole discretion, may from time to time, subject to the fourth sentence of the first paragraph of Section 1 of this Lease, expand, renovate and/or reconfigure the Project as the same may exist from time to time and, in connection therewith or in addition thereto, as the case may be, from time to time without limitation: # change the shape, size, location, number and/or extent of any improvements, buildings, structures, lobbies, hallways, entrances, exits, parking and/or parking areas relative to any portion of the Project; # modify, eliminate and/or add any buildings, improvements, and parking structure(s) either above or below grade, to the Project, the Common Areas and/or any other portion of the Project and/or make any other changes thereto affecting the same; and # make any other changes, additions and/or deletions in any way affecting the Project and/or any portion thereof as Landlord may elect from time to time, including without limitation, additions to and/or deletions from the land comprising the Project, the Common Areas and/or any other portion of the Project. Tenant acknowledges and agrees that construction noise, vibrations and dust associated with normal construction activities in connection with any redevelopment of the Project are to be expected during the course of such construction. Landlord shall endeavor to minimize interruption with Tenant’s business operations in the Premises in connection with any redevelopment undertaken pursuant to this [Section 41(o)]. Notwithstanding anything to the contrary contained in this Lease, Tenant shall have no right to seek damages (including abatement of Rent) or to cancel or terminate this Lease because of any proposed changes, expansion, renovation or reconfiguration of the Project nor shall Tenant have the right to restrict, inhibit or prohibit any such changes, expansion, renovation or reconfiguration; provided, however, Landlord shall not change the size, dimensions, location or Tenant’s Permitted Use of the Premises.

Project. The Building and Premises is set on approximately 87,120 square feet of land in the City of El Segundo (the “Project”). The term "Project" as used in this Lease, shall mean, collectively: # the Building; # all Common Areas (as defined below); # any additional improvements, facilities and common areas which Landlord may add thereto from time to time within or as part of the Project, including landscaping and hardscaping; and # the land upon which any of the foregoing are situated. Notwithstanding the foregoing or anything contained in this Lease to the contrary, # Landlord has no obligation to expand or otherwise make any improvements within the Project, and # Landlord shall have the right from time to time to include or exclude any improvements or facilities within the Project. Landlord reserves the right to close temporarily, make alterations or additions to, or change the location, dimensions, identities and types of any buildings, signs or other improvements that constitute the Project and the Common Areas.

Project. That certain office/research and development project commonly known as 1200 Concord Ave. and 1220 Concord Ave., [[Address A:Address]] as more fully described on Exhibit A attached hereto and incorporated herein (the “Real Property”). The Project consists of # two (2) office buildings with an aggregate rentable square footage (the “Rentable Area”) of approximately 362,130 square feet, # the Facilities (as such terms is hereinafter defined in Section 5(a)(ii), below) including, without limitation, a 4-level parking garage (the “Parking Garage”); and # the land on upon which such buildings, Facilities and other improvements are located, all as generally shown on the site plan attached as Exhibit B to this Lease (the “Site Plan”). The Rentable Area of the Project, the Building (as defined below), and the Premises (as defined below) was calculated in accordance with the Office Buildings: Standard Methods of Measurement ANSI/BOMA [[Unknown Identifier]] (Method B) (the “BOMA Standards”).

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