Document ID: 14048

Text:
As of the Commencement Date Tenant intends to utilize Premises B for storage, only, and the rental rates and other provisions relating to Premises B set forth in the Lease reflect such use. However, from and after the date that Tenant commences the conduct of business from any portion of Premises B (the Conversion Date), Tenant shall be deemed to have exercised its Conversion Option, whether or not Tenant provides Landlord written notice of such exercise. On the Conversion Date the Base Rent rate per rentable square foot of Premises B shall increase so that it is the same Base Rent rate per rentable square foot of Premises A on such date, and the Base Rent rate for Premises B shall increase at such times and in such amount as Base Rent for Premises A increases so that the Base Rent rate per rentable square foot for Premises B shall always be the same as the Base Rent rate per rentable square foot of Premises A. So long as Tenant provides Landlord with at least 6 months prior written notice of its exercise of the Conversion Option, Tenant shall be entitled to receive an improvement allowance (the Premises B Allowance) per rentable square foot of Premises B in an amount determined by multiplying $0.463 by the number of full calendar months remaining in the Term on the Conversion Date, to be applied to the cost of performing initial improvements in Premises B made by Tenant pursuant to the Alterations provisions of the Lease (the Premises B Work). For example, if there are 40 full calendar months remaining in the Term on the Conversion Date, Tenant shall be entitled to receive a Work Allowance of $17.48 per rentable square foot of Premises B ($0.463 x 40 = $18.52). All Premises B Work shall be performed in accordance with the Alterations provisions of the Lease, and the Premises B Allowance shall be shall be disbursed as follows: Upon completion of the Premises B Work, and prior to disbursement of the Work Allowance, Tenant shall furnish Landlord with: (i) general contractor and architectural completion affidavits, (ii) full and final waivers of lien, (iii) receipted bills covering all labor and materials expended and used, (d) as-built plans of the Premises B Work and (e) the certification of Tenant and its architect that the Premises B Work has been installed in a good and workmanlike manner in accordance with the approved plans, and in accordance with applicable codes and ordinances. Notwithstanding anything herein to the contrary, Landlord shall not be obligated to disburse any portion of the Premises B Allowance during the continuance of an uncured default under the Lease, and Landlords obligation to disburse shall only resume when and if such default is cured. The Premises B Allowance may only be used for the cost of labor, material and contractors fees for the Premises B Work and the cost of preparing plans and drawings in connection therewith. In no event shall the Premises B Allowance be used for the purchase of equipment, furniture and other items of personal property of Tenant.

Named Entities:
227
230
Rent
284
287
Ratio
307
310
Rent
326
329
Rent

Tokenized Text:
As
of
the
Commencement
Date
Tenant
intends
to
utilize
Premises
B
for
storage
,
only
,
and
the
rental
rates
and
other
provisions
relating
to
Premises
B
set
forth
in
the
Lease
reflect
such
use
.
However
,
from
and
after
the
date
that
Tenant
commences
the
conduct
of
business
from
any
portion
of
Premises
B
(
the
Conversion
Date
)
,
Tenant
shall
be
deemed
to
have
exercised
its
Conversion
Option
,
whether
or
not
Tenant
provides
Landlord
written
notice
of
such
exercise
.
On
the
Conversion
Date
the
Base
Rent
rate
per
rentable
square
foot
of
Premises
B
shall
increase
so
that
it
is
the
same
Base
Rent
rate
per
rentable
square
foot
of
Premises
A
on
such
date
,
and
the
Base
Rent
rate
for
Premises
B
shall
increase
at
such
times
and
in
such
amount
as
Base
Rent
for
Premises
A
increases
so
that
the
Base
Rent
rate
per
rentable
square
foot
for
Premises
B
shall
always
be
the
same
as
the
Base
Rent
rate
per
rentable
square
foot
of
Premises
A
.
So
long
as
Tenant
provides
Landlord
with
at
least
6
months
prior
written
notice
of
its
exercise
of
the
Conversion
Option
,
Tenant
shall
be
entitled
to
receive
an
improvement
allowance
(
the
Premises
B
Allowance
)
per
rentable
square
foot
of
Premises
B
in
an
amount
determined
by
multiplying
$
0
.
463
by
the
number
of
full
calendar
months
remaining
in
the
Term
on
the
Conversion
Date
,
to
be
applied
to
the
cost
of
performing
initial
improvements
in
Premises
B
made
by
Tenant
pursuant
to
the
Alterations
provisions
of
the
Lease
(
the
Premises
B
Work
)
.
For
example
,
if
there
are
40
full
calendar
months
remaining
in
the
Term
on
the
Conversion
Date
,
Tenant
shall
be
entitled
to
receive
a
Work
Allowance
of
$
17
.
48
per
rentable
square
foot
of
Premises
B
(
$
0
.
463
x
40
=
$
18
.
52
)
.
All
Premises
B
Work
shall
be
performed
in
accordance
with
the
Alterations
provisions
of
the
Lease
,
and
the
Premises
B
Allowance
shall
be
shall
be
disbursed
as
follows
:
Upon
completion
of
the
Premises
B
Work
,
and
prior
to
disbursement
of
the
Work
Allowance
,
Tenant
shall
furnish
Landlord
with
:
(
i
)
general
contractor
and
architectural
completion
affidavits
,
(
ii
)
full
and
final
waivers
of
lien
,
(
iii
)
receipted
bills
covering
all
labor
and
materials
expended
and
used
,
(
d
)
as-built
plans
of
the
Premises
B
Work
and
(
e
)
the
certification
of
Tenant
and
its
architect
that
the
Premises
B
Work
has
been
installed
in
a
good
and
workmanlike
manner
in
accordance
with
the
approved
plans
,
and
in
accordance
with
applicable
codes
and
ordinances
.
Notwithstanding
anything
herein
to
the
contrary
,
Landlord
shall
not
be
obligated
to
disburse
any
portion
of
the
Premises
B
Allowance
during
the
continuance
of
an
uncured
default
under
the
Lease
,
and
Landlords
obligation
to
disburse
shall
only
resume
when
and
if
such
default
is
cured
.
The
Premises
B
Allowance
may
only
be
used
for
the
cost
of
labor
,
material
and
contractors
fees
for
the
Premises
B
Work
and
the
cost
of
preparing
plans
and
drawings
in
connection
therewith
.
In
no
event
shall
the
Premises
B
Allowance
be
used
for
the
purchase
of
equipment
,
furniture
and
other
items
of
personal
property
of
Tenant
.