Common use of Condition of the Premises Clause in Contracts

Condition of the Premises. Notwithstanding anything in the Lease to the contrary, Tenant is currently in possession of the Current Premises and Tenant hereby accepts the Current Premises throughout the Term of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, and subject to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Condition, Tenant hereby accepts the Suite 100 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 100 Expansion Premises throughout the Fourth Extension Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot for 13,152 rsf) (the “Suite 100 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 100 Expansion Improvements (as said term is defined on Exhibit “B-1” attached hereto) in accordance with and subject to the terms of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlord, then commencing on and as of the Suite 110 Expansion Date, and subject to Landlord’s delivery of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery Condition, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance equal to the product of (i) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost of Tenant’s performance of previously completed tenant improvements to the Fourth Amendment Expansion Premises (as defined in the Fourth Amendment). Tenant acknowledges and agrees that any obligations of Landlord originally existing in the Lease to complete leasehold improvements and/or furnish allowance(s) with respect to the Current Premises have been completed and/or satisfied in their entirety, and any provisions in the Lease providing for such obligations are hereby null and void and of no further force or effect.

Appears in 1 contract

Samples: Lease (Alder Biopharmaceuticals Inc)

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Condition of the Premises. Notwithstanding anything in the Lease to the contrary, Tenant is currently in possession of the Current Premises and Tenant hereby accepts agrees to accept the Current Premises throughout the Term of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, and subject to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Condition, Tenant hereby accepts the Suite 100 Expansion Premises in its their existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 100 Expansion Premises throughout the Fourth Extension Termat any time; provided, however, Landlord agrees to provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars (but not to exceed) $328,800.00) 713,500 (which is equal to $25.00 5.00 per rentable square foot for 13,152 rsfof rentable area) (the “Suite 100 Expansion Allowance”) which Allowance may be used as a reimbursement of Tenant’s expenses paid by Tenant to be applied third-parties in connection with the installation of Alterations (as defined in Section 8.1 of the Original Lease) to the cost of Tenant performing Premises performed after the Suite 100 Expansion Improvements (as said term is defined on Exhibit “B-1” attached hereto) Effective Date. Any such Alterations shall be constructed in accordance with and subject to the terms and conditions of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlord, then commencing on and as Article 8 of the Suite 110 Expansion Date, Original Lease and shall be subject to Landlord’s delivery review and approval of plans and specifications as more particularly described in the Lease. In the event Tenant desires any such reimbursement of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery ConditionAllowance, Tenant hereby accepts shall notify Landlord of the Suite 110 Expansion Premises in its existing “AS-IS”amounts that Tenant wants reimbursed (and, “WHERE-IS” and “WITH ALL FAULTS” conditionif reimbursed, and Landlord Tenant shall include actual copies of paid invoices reflecting amounts Tenant desires to have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance equal to the product of reimbursed) within eighteen (i18) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after following the Effective Date, and, notwithstanding anything herein to the contrary, if Tenant fails to so notify Landlord in writing of such amounts Tenant desires to have reimbursed within said eighteen (18) month period, Tenant shall not be entitled to any such reimbursement and all such Allowance shall belong to Landlord and Tenant shall have no rights thereto. Landlord’s payment of the Allowance, or such portion thereof as Tenant may be entitled to, shall be made within thirty (30) days after each and all of the following conditions shall have been satisfied: (a) the Alterations shall have been completed in accordance with the sum plans submitted to and approved by Landlord in accordance with the Lease; (b) Tenant shall have delivered to Landlord satisfactory evidence that all mechanics’ lien rights of Three Hundred Seventy-Seven Thousand Eight Hundred all contractors, suppliers, subcontractors, or materialmen furnishing labor, supplies or materials in the construction or installation of the Alterations have been unconditionally waived, released, or extinguished; (c) Tenant shall have delivered to Landlord paid receipts or other written evidence satisfactorily substantiating the actual amount of the construction costs of the Alterations; and Eighty (d) Tenant shall not then be in default of any of the provisions of the Lease beyond applicable notice and No/100 Dollars ($377,880.00)cure periods. If, payable at any time, the amount remaining in one lump sum as reimbursement the Allowance is insufficient to pay for any requested reimbursements or expenses, then Tenant shall bear the cost of any excess and shall promptly pay the estimated cost of such excess to the applicable payee. If Tenant’s performance of previously completed tenant improvements to reimbursements are less than the Fourth Amendment Expansion Premises (Allowance, Tenant shall not receive any credit whatsoever for the difference. Except as defined otherwise expressly set forth in the Fourth Amendment). this paragraph, Tenant acknowledges and agrees that any obligations of and all improvements or allowances required to be performed or provided by Landlord originally existing in the Lease to complete leasehold improvements and/or furnish allowance(s) with respect to the Current Premises Lease, if any, have been completed and/or satisfied in their entirety, and any provisions in the Lease providing for such obligations are hereby null and void and of no further force performed or effectsatisfied.

Appears in 1 contract

Samples: Office Lease (Netgear, Inc)

Condition of the Premises. Notwithstanding anything As of the Effective Date, Landlord is causing construction of the core and shell of the Building and Garage. Attached hereto as Exhibit G and incorporated herein by reference is a list of the drawings and specifications for the design and construction of the Building (collectively the "Development Specifications"). The Development Specifications have previously been made available to Tenant for its review. Landlord, at its sole cost and expense, shall complete construction of the Building: (a) in substantial accordance with the Lease Development Specifications; and (b) in a good workmanlike manner, to a general standard of construction equal to or greater than that of other Comparable Buildings. At the contrary, Tenant is currently in time of Landlord's tender of possession of the Current Premises, those portions of the Base Building Work, as more particularly described on Exhibit H, which are necessary to be completed for the orderly and effective construction of the Initial Installations shall be Substantially Complete. Subject to the foregoing, Tenant shall: (a) accept possession of the Premises in its then "As-Is" condition, and (b) except for Landlord's Contribution, Landlord has no obligation to perform any work, supply any materials, incur any expense or make any alterations or improvements to prepare the Premises for Tenant's occupancy. Tenant's occupancy of any part of the Premises shall be conclusive evidence, as against Tenant, that Landlord has Substantially Completed the Base Building Work, Tenant has accepted possession of the Premises in its then current condition and at the time such possession was taken, the Premises and the Building were in a good and satisfactory condition as required by this Lease except for latent defects in the Base Building Work not visually discoverable by Tenant hereby accepts the Current Premises throughout the Term of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, upon a reasonably diligent inspection and subject to Landlord’s delivery the completion by Landlord of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Conditionany "punch list" items or similar corrective work; provided, Tenant hereby accepts the Suite 100 Expansion Premises in its existing “AS-IS”however, “WHERE-IS” and “WITH ALL FAULTS” condition, and that Landlord shall have no obligation whatsoever to refurbish correct latent defects not reported to Landlord in writing within 12 months of the acceptance of the Premises by Tenant. Landlord, at Landlord's sole cost and expense and not as a deduction or otherwise improve offset from the Suite 100 Expansion Premises throughout amount of Landlord's Contribution or as part of Operating Expenses, shall be responsible for ensuring that, as of the Fourth Extension Term; providedCommencement Date, howeverthe Base Building Work (including the roof and all Building Systems) is in good working condition and repair, free from any known code violations and in compliance with all Requirements. In addition, in accordance with the terms and provisions of Section 6.1 below, Landlord shall be responsible for the correction of any latent or patent defects in the Landlord Repair Areas (as hereinafter defined) at any time during this Term of the Lease or any extension thereof. Landlord agrees to provide Tenant with an improvement allowance of up exercise commercially reasonable efforts to Three Hundred Twenty-Eight Thousand Eight Hundred enforce any and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot for 13,152 rsf) (the “Suite 100 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 100 Expansion Improvements (as said term is defined on Exhibit “B-1” attached hereto) in accordance with all construction, design and subject to the terms of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlord, then commencing on and as of the Suite 110 Expansion Date, and subject to Landlord’s delivery of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery Condition, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and materials warranties obtained by Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance equal to the product of (i) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost of Tenant’s performance of previously completed tenant improvements to the Fourth Amendment Expansion Premises (as defined in the Fourth Amendment). Tenant acknowledges and agrees that any obligations of Landlord originally existing in the Lease to complete leasehold improvements and/or furnish allowance(s) with respect to the Current Premises have been completed and/or satisfied in their entirety, and any provisions in the Lease providing for such Base Building Work ("Construction Warranties"). No provision of this Article 4 shall diminish Landlord's obligations are hereby null and void and of no further force or effectunder Section 6.1 below.

Appears in 1 contract

Samples: Lease (PMC Sierra Inc)

Condition of the Premises. Notwithstanding anything in the Lease Tenant acknowledges that it has been and continues to the contrary, Tenant is currently be in possession of the Current Original Premises, is familiar with the condition of the Original Premises and Tenant hereby accepts the Current Premises throughout the Term of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, and subject to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Condition, Tenant hereby accepts the Suite 100 Expansion Original Premises in its existing presently existing, AS-ISas is” condition, with all faults and without representation, warranty or improvements by Landlord of any kind whatsoever. Tenant hereby agrees that the Additional Premises shall be taken “as is”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 100 Expansion Premises throughout the Fourth Extension Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot for 13,152 rsf) (the “Suite 100 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 100 Expansion Improvements (as said term is defined on Exhibit “B-1” attached hereto) in accordance with and subject to the terms of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlord, then commencing on and as of the Suite 110 Expansion Date, and subject to Landlord’s delivery of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery Condition, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-ISall faults”, “WHERE-ISwithout any representations or warranties,except as expressly provided in this Section. Tenant hereby acknowledges that it has had an opportunity to investigate and “WITH ALL FAULTS” conditioninspect the condition of the Additional Premises and the suitability of same for Tenant’s purposes, and Landlord shall have no obligation whatsoever to refurbish Txxxxx does hereby waive and disclaim any objection to, cause of action based upon, or otherwise improve claim that its obligations hereunder should be reduced or limited because of the Suite 110 Expansion Premises throughout condition of the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance equal to the product of (i) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Additional Premises, multiplied by (iii) a fraction, the numerator Building or the Project or the suitability of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the same for Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost of Tenant’s performance of previously completed tenant improvements to the Fourth Amendment Expansion Premises (as defined in the Fourth Amendment)purposes. Tenant acknowledges and agrees that neither Landlord nor any obligations agent nor any employee of Landlord originally existing in the Lease to complete leasehold improvements and/or furnish allowance(s) has made any representations or warranty with respect to the Current Additional Premises, the Building or the Project or with respect to the suitability of the Additional Premises, the Building or the Project for the conduct of Txxxxx’s business and Tenant expressly warrants and represents that Tenant has relied solely on its own investigation and inspection of the Additional Premises have been completed and/or satisfied and the Building in their entiretyits decision to enter into this First Amendment and let the Additional Premises in an “as is” condition. Notwithstanding the foregoing, at Landlord’s sole cost and expense using Landlord’s standard industrial materials, Landlord shall perform the following work in the Additional Premises (collectively, the “Landlord Work”): (i) install LED lighting in the Additional Premises; (ii) recarpet all carpeted floors in the office portion, and any provisions install new floors in the Lease providing restroom portion, of the Additional Premises; (iii) install illuminated Exit signs near exist doors of the Additional Premises; (iv) patch all holes in drywall in the Additional Premises; and (v) paint demising wall. Within five (5) days of Tenant’s receipt of Building standard samples for the carpet and flooring, Tenant shall make a selection in writing 4867-8975-9850, v. 1 DocuSign Envelope ID: D0DC7079-A251-4FFF-9D21-A4082DCEC9D0 to Landlord. If Tenant fails to timely select such obligations are hereby null carpet and void and of flooring, Tenant shall have no further force or effect.right to make such selection and Landlord may choose the carpet and flooring in its sole and absolute 4867-8975-9850, v. 1 DocuSign Envelope ID: D0DC7079-A251-4FFF-9D21-A4082DCEC9D0

Appears in 1 contract

Samples: Thorne Healthtech, Inc.

Condition of the Premises. Notwithstanding anything in the Lease to the contraryExcept as expressly set forth herein, Tenant is currently in possession of shall accept the Current Premises and Tenant hereby accepts on the Current Premises throughout the Term of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, and subject to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Condition, Tenant hereby accepts the Suite 100 Expansion Premises Substantial Completion Date in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, subject to all applicable laws, ordinances, regulations, covenants and restrictions, and Landlord shall have no obligation whatsoever to refurbish perform or otherwise improve the Suite 100 Expansion Premises throughout the Fourth Extension Term; provided, however, pay for any repair or other work therein. Landlord agrees to provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot for 13,152 rsf) (the “Suite 100 Expansion Allowance”) to be applied has made no representation or warranty as to the cost of Tenant performing the Suite 100 Expansion Improvements (as said term is defined on Exhibit “B-1” attached hereto) in accordance with and subject to the terms of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlord, then commencing on and as suitability of the Suite 110 Expansion Date, and subject to Landlord’s delivery of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery Condition, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance equal to the product of (i) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost conduct of Tenant’s performance of previously completed tenant improvements to business, and Tenant waives any implied warranty that the Fourth Amendment Expansion Premises are suitable for Tenant’s intended purposes. TENANT ACKNOWLEDGES THAT (1) IT HAS INSPECTED AND ACCEPTS THE PREMISES IN AN “AS IS, WHERE IS” CONDITION, (2) THE BUILDING AND IMPROVEMENTS COMPRISING THE SAME ARE SUITABLE FOR THE PURPOSE FOR WHICH THE PREMISES ARE LEASED AND LANDLORD HAS MADE NO WARRANTY, REPRESENTATION, COVENANT, OR AGREEMENT WITH RESPECT TO THE MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF THE PREMISES, (3) THE PREMISES ARE IN GOOD AND SATISFACTORY CONDITION, (4) NO REPRESENTATIONS AS TO THE REPAIR OF THE PREMISES, NOR PROMISES TO ALTER, REMODEL OR IMPROVE THE PREMISES HAVE BEEN MADE BY LANDLORD AND (5) THERE ARE NO REPRESENTATIONS OR WARRANTIES, EXPRESSED, IMPLIED OR STATUTORY, THAT EXTEND BEYOND THE DESCRIPTION OF THE PREMISES. Except as defined otherwise may expressly be provided herein, in no event shall Landlord have any obligation for any defects in the Fourth Amendment)Premises or any limitation on its use. The taking of possession of the Premises shall be conclusive evidence that Tenant acknowledges accepts the Premises and agrees that any obligations of Landlord originally existing the Premises were in good condition at the Lease to complete leasehold improvements and/or furnish allowance(s) with respect to the Current Premises have been completed and/or satisfied in their entirety, and any provisions in the Lease providing for such obligations are hereby null and void and of no further force or effecttime possession was taken.

Appears in 1 contract

Samples: Sublease Agreement (Energy Focus, Inc/De)

Condition of the Premises. Notwithstanding anything in the Lease to the contrary, Tenant is currently in possession of the Current Premises and Tenant hereby accepts the Current Premises throughout the Term of the Lease, Except as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, and subject expressly set forth above with respect to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery ConditionWork, Tenant hereby accepts has accepted the Suite 100 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, subject to all applicable Legal Requirements, and Landlord shall have no obligation whatsoever to refurbish perform or otherwise improve the Suite 100 Expansion Premises throughout the Fourth Extension Term; provided, however, Landlord agrees to provide Tenant pay for any repair or other work therein. Except as expressly set forth above with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot for 13,152 rsf) (the “Suite 100 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 100 Expansion Improvements (as said term is defined on Exhibit “B-1” attached hereto) in accordance with and subject to the terms of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlord, then commencing on and as of the Suite 110 Expansion Date, and subject respect to Landlord’s delivery Work, Landlord has made no representation or warranty as to the suitability of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery Condition, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance equal to the product of (i) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost conduct of Tenant’s performance of previously completed tenant improvements to business, and Tenant waives any implied warranty that the Fourth Amendment Expansion Premises are suitable for Tenant’s intended purposes. TENANT ACKNOWLEDGES THAT, EXCEPT WITH RESPECT TO LANDLORD’S WORK AND UNLESS OTHERWISE EXPRESSLY SET FORTH HEREIN (1) IT HAS INSPECTED AND ACCEPTS THE PREMISES IN AN “AS IS, WHERE IS” CONDITION, (2) THE BUILDING AND IMPROVEMENTS COMPRISING THE SAME ARE SUITABLE FOR THE PURPOSE FOR WHICH THE PREMISES ARE LEASED AND LANDLORD HAS MADE NO WARRANTY, REPRESENTATION, COVENANT, OR AGREEMENT WITH RESPECT TO THE MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF THE PREMISES, (3) NO REPRESENTATIONS AS TO THE REPAIR OF THE PREMISES, NOR PROMISES TO ALTER, REMODEL OR IMPROVE THE PREMISES HAVE BEEN MADE BY LANDLORD AND (4) THERE ARE NO REPRESENTATIONS OR WARRANTIES, EXPRESSED, IMPLIED OR STATUTORY, THAT EXTEND BEYOND THE DESCRIPTION OF THE PREMISES. Except as defined otherwise may expressly be provided in this Lease, in no event shall Landlord have any obligation for any defects in the Fourth Amendment)Premises or any limitation on its use. The taking of possession of the Premises shall be conclusive evidence that Tenant acknowledges accepts the Premises and agrees that any obligations of Landlord originally existing the Premises were in good condition at the Lease to complete leasehold improvements and/or furnish allowance(s) with respect to time possession was taken except for Landlord’s Work and Latent Defects discovered before the Current Premises have been completed and/or satisfied in their entiretyLatent Defect Deadline, items that are Landlord’s responsibility hereunder and any provisions Punch List items agreed to in the Lease providing for such obligations are hereby null writing by Landlord and void and of no further force or effect.Tenant. 17.4

Appears in 1 contract

Samples: Lease Agreement (Energy Focus, Inc/De)

Condition of the Premises. Notwithstanding anything in Landlord and Tenant agree that the Lease construction of any “Tenant Work” with respect to the contrary, First Expansion Premises shall be performed by Tenant is currently in possession accordance with and as defined in Exhibit B-5. Subject to funding the Tenant Work Allowance (as defined in Exhibit B-5) for the construction of the Current Tenant Work, Landlord shall have no obligations whatsoever to construct any improvements to the Original Premises or the First Expansion Premises and Tenant hereby accepts the Current Premises throughout the Term of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, and subject to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Condition, Tenant hereby accepts the Suite 100 Expansion Premises in its existing HAS ACCEPTED THE ORIGINAL PREMISES AND THE FIRST EXPANSION PREMISES AS-AS IS”, “WHERE-WHERE IS” and “AND WITH ANY AND ALL FAULTS” condition. LANDLORD NEITHER MAKES NOR HAS MADE ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE QUALITY, SUITABILITY OR FITNESS THEREOF OF THE ORIGINAL PREMISES OR THE FIRST EXPANSION PREMISES, OR THE CONDITION OR REPAIR THEREOF. TENANT’S CONTINUED POSSESSION OF THE ORIGINAL PREMISES AND TAKING OF POSSESSION OF THE FIRST EXPANSION PREMISES IS CONCLUSIVE EVIDENCE FOR ALL PURPOSES OF TENANT’S ACCEPTANCE OF THE PREMISES IN GOOD ORDER AND SATISFACTORY CONDITION, AND IN A STATE AND CONDITION SATISFACTORY, ACCEPTABLE AND SUITABLE FOR THE TENANT’S USE PURSUANT TO THE LEASE. Notwithstanding the foregoing, Landlord shall deliver all structural elements and subsystems of the First Expansion Premises, including but not limited to the HVAC, mechanical, electrical, and plumbing systems serving the First Expansion Premises, in good working condition and repair as of the Effective Date and Landlord will be responsible, without cost to Tenant, to repair any latent structural or design defects (as opposed to normal repairs, maintenance and replacements) in the curtain wall, windows and window framing, interior structural framing, foundation, roof, HVAC systems, mechanical, electrical, and plumbing systems occurring or discovered prior to the later of the date that is 12 months after the Effective Date and the date of expiration of any applicable warranty therefor; provided that Tenant delivers notice to Landlord thereof prior to the later of the date that is 12 months after the Effective Date and date of expiration of any applicable warranty therefor and such repairs shall have no obligation whatsoever not include work required in connection with (a) any of Tenant’s Alterations, Tenant Work or other improvements to refurbish the First Expansion Premises, (b) Tenant’s particular use of the First Expansion Premises, including, without limitation, for meeting or otherwise improve assembly uses (as opposed to Tenant’s use of the Suite 100 First Expansion Premises throughout for the Fourth Extension Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot for 13,152 rsf) (the “Suite 100 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 100 Expansion Improvements (as said term is defined on Exhibit “B-1” attached hereto) Permitted Use in accordance with the Original Lease in a normal and subject to the terms of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice customary manner) or (defined belowc) to Landlord, then commencing on and as of the Suite 110 Expansion Date, and subject to Landlord’s delivery of the Suite 110 Expansion Premises to Tenant a change in the Suite 110 Delivery ConditionPermitted Use stated in Section 1.8, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and regardless of whether Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance equal to the product of (i) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost of Tenant’s performance of previously completed tenant improvements to the Fourth Amendment Expansion Premises (as defined in the Fourth Amendment). Tenant acknowledges and agrees that any obligations of Landlord originally existing in the Lease to complete leasehold improvements and/or furnish allowance(s) with respect to the Current Premises have been completed and/or satisfied in their entirety, and any provisions in the Lease providing for approves such obligations are hereby null and void and of no further force or effectchange.

Appears in 1 contract

Samples: Office Lease (Bill.com Holdings, Inc.)

Condition of the Premises. Notwithstanding anything in the Lease to the contrary, Tenant is currently in possession of the Current Premises and Tenant hereby accepts the Current Premises throughout the Term of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, and subject to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Condition, Tenant hereby accepts the Suite 100 Expansion Premises in its existing “AS-THE PREMISES ARE DELIVERED TO TENANT AND ARE BEING LEASED "AS IS”, “WHERE-IS” and “" AND "WITH ALL FAULTS” condition" AND TENANT ACKNOWLEDGES AND AGREES THAT IT HAS BEEN GIVEN FULL OPPORTUNITY TO INSPECT THE CONDITION OF THE PREMISES. TO THE MAXIMUM EXTENT PERMITTED BY LAW, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 100 Expansion Premises throughout the Fourth Extension Term; providedLANDLORD HEREBY DISCLAIMS, howeverAND TENANT WAIVES THE BENEFIT OF, Landlord agrees to provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot for 13,152 rsf) (the “Suite 100 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 100 Expansion Improvements (as said term is defined on Exhibit “B-1” attached hereto) in accordance with and subject to the terms of said Exhibit “B-1”ANY AND ALL IMPLIED WARRANTIES, INCLUDING IMPLIED WARRANTIES OF FITNESS OR SUITABILITY FOR PURPOSE, OR THAT THE PREMISES HAVE BEEN CONSTRUCTED OR MAINTAINED IN A GOOD AND WORKMANLIKE MANNER. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to LandlordBY OCCUPYING THE PREMISES AND TAKING POSSESSION THEREOF, then commencing on and as of the Suite 110 Expansion DateTENANT ACCEPTS THE PREMISES AS SUITABLE FOR THE PURPOSES FOR WHICH THEY ARE LEASED AND ACCEPTS THE PREMISES AND EACH AND EVERY APPURTENANCE THEREOF, and subject to Landlord’s delivery of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery ConditionAND WAIVES ANY AND ALL DEFECTS THEREIN. NOTWITHSTANDING THE ABOVE, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-IS”TENANT ACKNOWLEDGES AND AGREES THAT THE PORTION OF THE PREMISES CONSTITUTING THE NEW BUILDING IS STILL UNDER CONSTRUCTION AND TENANT WILL BE GIVEN THE OPPORTUNITY TO INSPECT AND ACCEPT THE NEW BUILDING, “WHERE-IS” and “BUT LANDLORD SHALL HAVE NO LIABILITY TO TENANT WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance equal to the product of (i) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost of Tenant’s performance of previously completed tenant improvements to the Fourth Amendment Expansion Premises (as defined in the Fourth Amendment). Tenant acknowledges and agrees that any obligations of Landlord originally existing in the Lease to complete leasehold improvements and/or furnish allowance(s) with respect to the Current Premises have been completed and/or satisfied in their entirety, and any provisions in the Lease providing for such obligations are hereby null and void and of no further force or effectRESPECT TO THE CONDITION OF THE NEW BUILDING OTHER THAN AND TO THE EXTENT OF ITEMS COVERED BY THE CONSTRUCTION CONTRACT AND ANY SUBCONTRACTS FOR THE CONSTRUCTION OF THE NEW BUILDING.

Appears in 1 contract

Samples: Master Commercial Lease Agreement (Input Output Inc)

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Condition of the Premises. Notwithstanding anything in (a) Tenant acknowledges that Landlord is delivering the Lease Premises to Tenant on the contrary, Tenant is currently in possession of the Current Premises and Tenant hereby accepts the Current Premises throughout the Term of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Delivery Date, and subject to Tenant is accepting the Premises on the Delivery Date, in “as-is” condition without representation or warranty by Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Condition, Tenant hereby accepts the Suite 100 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish perform any work or otherwise improve the Suite 100 Expansion Premises throughout the Fourth Extension Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot for 13,152 rsf) (the “Suite 100 Expansion Allowance”) to be applied construction to the cost Premises, other than Landlord’s obligation to deliver the Premises to Tenant on the Delivery Date (i) free of Tenant performing all tenants, occupants and personal property (including, without limitation, free of Kaspersky’s occupancy), (ii) with the Suite 100 Expansion Improvements Premises fully demised and in compliance with Applicable Laws, (iii) with all Building Systems (as said term is defined on Exhibit “B-1” attached hereto) in accordance with and subject to the terms of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlordserving the Premises in good working order, then commencing on condition and as repair (including, without limitation, the so-called “variable air volume” boxes that are part of the Suite 110 Expansion DateHVAC (as defined below) system serving the Premises), and (iv) subject to an SNDA (as defined in Section 17.1 below) which has been executed by Landlord and the current Holder (as defined in Section 17.1 below) of the Mortgage (as defined in Section 17.1 below) encumbering the Building and delivered to Tenant (the satisfaction of clauses (i) through (iv) hereinabove, the “Delivery Condition”). Tenant acknowledges that it has inspected the Premises and Common Facilities of the Building and has found the same satisfactory subject to Landlord’s delivery of obligation to satisfy the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery Condition. All terms and conditions of this Lease, Tenant hereby accepts other than the Suite 110 Expansion Premises in its existing “AS-IS”obligation to pay Rent (which shall commence on the Rent Commencement Date), “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance equal be applicable to the product of (i) Twenty-Five Premises from and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date. Notwithstanding the foregoing, with from and after the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00)Term Commencement Date, payable in one lump sum as reimbursement Tenant shall pay for the cost of Tenant’s performance of previously completed tenant improvements to the Fourth Amendment Expansion Premises (as defined in the Fourth Amendment). Tenant acknowledges and agrees that any obligations of Landlord originally existing in the Lease to complete leasehold improvements and/or furnish allowance(s) electricity with respect to the Current Premises have been completed as set forth in Section 10.2(b) hereof and other building services consumed and/or satisfied in their entiretyrequested by Tenant during any such period, and any provisions in including without limitation, HVAC services for the Lease providing for such obligations are hereby null and void and of no further force or effectPremises.

Appears in 1 contract

Samples: Lease (Replimune Group, Inc.)

Condition of the Premises. Notwithstanding anything Landlord warrants that the Building's basic plumbing, mechanical, heating, ventilating, air conditioning and electrical systems (collectively, the "Operating Systems") are in good working order commencing on the Lease to Commencement Date and continuing for ninety (90) days after the contrary, Tenant is currently in possession of Lease Commencement Date (the Current Premises and Tenant hereby accepts the Current Premises throughout the Term of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, and subject to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Condition, Tenant hereby accepts the Suite 100 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 100 Expansion Premises throughout the Fourth Extension Term"Warranty Period"); provided, however, Landlord agrees to provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot shall have no liability hereunder for 13,152 rsf) (repairs or replacements necessitated by the “Suite 100 Expansion Allowance”) to be applied to the cost acts or omissions of Tenant performing and/or of Tenant's representatives, agents, contractors and/or employees. As Landlord's sole obligation and as Tenant's sole remedy for Landlord's breach of this warranty, Tenant shall have the Suite 100 Expansion Improvements right to cause Landlord to repair the defective Operating Systems (as said term is defined on Exhibit “B-1” attached hereto) in accordance with and subject to the terms limitations set forth herein) at Landlord's sole cost and expense (without inclusion of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlord, then commencing on and as that cost or expense in Operating Expenses for purposes of the Suite 110 Expansion Date, and subject to Landlord’s delivery of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery Condition, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Termthis Lease); provided, however, Tenant shall have given Landlord agrees written notice setting forth with specificity the nature and extent of such malfunction within such Warranty Period. If Tenant does not give Landlord the required notice within said Warranty Period, correction of any such malfunction shall be the obligation of the party responsible to provide maintain such malfunction as provided in this Lease. Except as specifically set forth in this Lease and in the Tenant with an improvement allowance equal to Work Letter attached hereto as Exhibit B (the product "Tenant Work Letter"), Tenant shall accept the Premises and the Building, including the base, shell, and core of (i) Twenty-Five the Premises and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet the floor of the Building on which the Premises is located (being collectively, the total number "Base, Shell, and Core") in their "AS-IS" condition as of square feet the Lease Commencement Date and Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of space contained within the Suite 110 Expansion Premises. Tenant also acknowledges that Landlord has made no representation or warranty regarding the condition of the Premises, multiplied by (iii) a fraction, the numerator of which is Building or the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost of Tenant’s performance of previously completed tenant improvements to the Fourth Amendment Expansion Premises (as defined in the Fourth Amendment). Tenant acknowledges and agrees that any obligations of Landlord originally existing in the Lease to complete leasehold improvements and/or furnish allowance(s) Project or with respect to the Current Premises have been completed and/or satisfied suitability of any of the foregoing for the conduct of Tenant's business, except as specifically set forth in their entirety, this Lease and the Tenant Work Letter. Subject to the foregoing Warranty Period and any provisions punch list items as provided in the Lease providing for Work Letter, the taking of possession of the Premises by Tenant shall conclusively establish that the Premises and the Building were at such obligations are hereby null time in good and void sanitary order, condition and of no further force or effectrepair.

Appears in 1 contract

Samples: Office Lease (Allied Esports Entertainment, Inc.)

Condition of the Premises. Notwithstanding anything in Tenant shall continue to occupy the Lease to the contrary, Tenant is currently in possession of the Current Premises and Tenant hereby accepts the Current Premises throughout the Term of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, and subject to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Condition, Tenant hereby accepts the Suite 100 Expansion Premises in its then existing condition and state of repair, AS-AS IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 100 Expansion Premises throughout the Fourth Extension Term; provided, however, Landlord agrees not be obligated to provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot or pay for 13,152 rsf) (the “Suite 100 Expansion Allowance”) to be applied any improvement, remodeling or refurbishment work or services related to the cost improvement, remodeling or refurbishment of the Premises except as otherwise set forth in Exhibit B attached hereto. The Tenant performing the Suite 100 Expansion Improvements (as said term is defined on in Exhibit “B-1” attached heretoB) shall be installed in accordance with the terms, conditions, criteria and subject provisions set forth in Exhibit B attached hereto and not any other tenant work letter attached to the terms of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlord, then commencing on and as of the Suite 110 Expansion Date, and subject to Landlord’s delivery of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery Condition, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance equal to the product of (i) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost of Tenant’s performance of previously completed tenant improvements to the Fourth Amendment Expansion Premises (as defined in the Fourth Amendment)Lease. Tenant acknowledges and agrees that any obligations of the Tenant Improvements shall be described in an Exhibit B to be attached hereto and shall be installed and constructed by Landlord originally existing in the Lease Premises during the period of Tenant’s occupancy of the Premises; however the completion of such Tenant Improvements therein shall not affect Tenant’s obligation to complete leasehold improvements and/or furnish allowance(spay Rent and to perform all of Tenant’s covenants and obligations under the Lease. Tenant hereby expressly (i) agrees that Tenant shall have no right or claim to any abatement, offset or other deduction of the amount of Rent payable by Tenant for the Premises due to the installation and construction of any of the Tenant Improvements (provided, however, this provision shall not affect Tenant’s rent abatement right provided in Section 7 below), (ii) grants Landlord access to any and all of the Premises to perform the Tenant Improvements, (iii) waives any rights or claims Tenant may have at law or in equity with respect to any interference with Tenant’s conduct of its operations in and about the Current Premises have been completed and/or satisfied in their entiretyduring the pendency of the work associated with the Tenant Improvements, (iv) agrees to not interfere, and to not allow any provisions of Tenant’s agents, employees and representatives to interfere, with Landlord and its contractors, representatives and consultants in the Lease providing for such obligations are hereby null performance of the work associated with the completion of the Tenant Improvements, and void (v) agrees that Tenant’s employees, agents, contractors, consultants, workmen, mechanics, suppliers and invitees shall fully cooperate, work in harmony and not, in any manner, unreasonably interfere with Landlord or Landlord’s agents or representatives in performing any of no further force or effectthe aforementioned work and any additional work related thereto.

Appears in 1 contract

Samples: Second Amendment (Cafepress Inc.)

Condition of the Premises. Notwithstanding anything Tenant agrees that the demised premises are being leased in an “as is” condition and Landlord is not obligated to perform any work of any kind to prepare the premises for Tenant’s occupancy, except as otherwise expressly provided for by written amendment to this lease. Landlord agrees to allow Tenant to use the carpeting and window dressings, if any, in the Lease demised premises for the term of this lease. Tenant agrees to maintain and/or clean the contrarycarpeting and window dressings during the term of this lease and upon the expiration thereof, Tenant is currently in possession of return the Current Premises and Tenant hereby accepts the Current Premises throughout the Term of the Leasesame to Landlord, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Datereasonably clean, and subject to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Conditionsame condition as when received, Tenant hereby accepts the Suite 100 Expansion Premises in its existing “AS-IS”, “WHERE-IS” normal wear and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 100 Expansion Premises throughout the Fourth Extension Term; provided, however, tear excepted. Landlord agrees to provide normal vacuuming of the carpets only. The area of the leased premises is based upon the retable area, which includes Tenant’s proportionate share of the public elevator lobby, toilet rooms, corridors and other public areas on the floor on which the demised premises are located. Notwithstanding anything to the contrary contained herein, Landlord represents and warrants that it has undertaken an asbestos abetment program for the floor on which the demised premises exist and that all structural columns from slab to the slab above the existing acoustic tile have been completely enclosed and to the extent Tenant removes the existing acoustic tile on such floor, all exposed columns, beam, conduits and pipes above such apostle tile are completely enclosed with lath, plaster, and/or/or other protective coverings. Landlord shall provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square foot for 13,152 rsf) (the “Suite 100 Expansion Allowance”) 96,960.00 to be applied paid to Tenant upon the request of Tenant and to be used by Tenant in connection with Tenant’s remodeling and renovation work to the leased premises contemplated to be undertaken by Tenant as more specifically outlined in Exhibit B hereto. Tenant, at Landlord’s sole cost and expenses shall remodel and upgrade the public restrooms and common areas on the 11th floor to the Building standard and as required as a result of building and safety department, fire department, Americans with Disability Act or other regulatory requirements resulting from Tenant’s construction, use or occupancy of the demised premises. Tenant performing shall advance the Suite 100 Expansion Improvements costs of such common area improvements and Landlord shall reimburse Tenant for such costs within ten (as said term is defined on Exhibit “B-1” attached hereto10) business day of Tenant’s delivery to Landlord of the Invoices for such work. All work shall be performed in accordance with and subject to the terms of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlord, then commencing on and as Article 7 of the Suite 110 Expansion Date, and subject to Landlord’s delivery of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery Condition, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord agrees to provide Tenant Lease with an improvement allowance equal to the product of (i) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110 Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) such standard to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2” attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the approved by Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost of Tenant’s performance of previously completed tenant improvements to the Fourth Amendment Expansion Premises (as defined in the Fourth Amendment). Tenant acknowledges and agrees that any obligations of Landlord originally existing in the Lease to complete leasehold improvements and/or furnish allowance(s) with respect to the Current Premises have been completed and/or satisfied in their entirety, and any provisions in the Lease providing for such obligations are hereby null and void and of no further force or effect.

Appears in 1 contract

Samples: Office Building Lease (City National Corp)

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