ANY RIGHT IT MAY HAVE UNDER ANY APPLICABLE LAW TO
TERMINATE THIS LEASE AS A RESULT OF A TAKING, INCLUDING WITHOUT LIMITATION
SECTIONS 1265.120 AND 1265.130 OF THE CALIFORNIA CODE OF CIVIL PROCEDURE, OR ANY
SIMILAR LAW, STATUTE OR ORDINANCE NOW OR HEREAFTER IN EFFECT OTHER THAN AS
EXPRESSLY PROVIDED IN THIS LEASE.
21.
SURRENDER.
21.1
SURRENDER.
UPON THE TERMINATION DATE, TENANT SHALL SURRENDER THE
PREMISES TO LANDLORD IN GOOD ORDER AND REPAIR, REASONABLE WEAR AND TEAR AND
DAMAGE BY CASUALTY EXCEPTED, FREE AND CLEAR OF ALL LETTING AND OCCUPANCIES.
SUBJECT TO ARTICLE 10, UPON ANY TERMINATION OF THIS LEASE, ALL IMPROVEMENTS,
EXCEPT FOR TENANT'S PROPERTY, SHALL AUTOMATICALLY AND WITHOUT FURTHER ACT BY
LANDLORD OR TENANT, BECOME THE PROPERTY OF LANDLORD, FREE AND CLEAR OF ANY CLAIM
OR INTEREST THEREIN BY TENANT, AND WITHOUT PAYMENT THEREFOR BY LANDLORD.
21.2
HOLDING OVER.
ANY HOLDING OVER AFTER THE EXPIRATION OF THE TERM
WITH THE CONSENT OF LANDLORD SHALL BE CONSTRUED TO AUTOMATICALLY EXTEND THE TERM
ON A MONTH-TO-MONTH BASIS AT A BASE RENT EQUAL TO THE GREATER OF (A) TWO
(2) TIMES THE THEN-CURRENT BASE RENT, AND (B) ONE AND ONE-HALF (1-1/2) TIMES THE
PREVAILING RATE AT WHICH LANDLORD IS THEN OFFERING SPACE IN BUILDINGS REASONABLY
DETERMINED BY LANDLORD TO BE
55
COMPARABLE TO THE BUILDING, IN EITHER CASE TOGETHER WITH AN AMOUNT ESTIMATED BY
LANDLORD AS TENANT'S SHARE OF OPERATING EXPENSES PAYABLE UNDER THIS LEASE, AND
SHALL OTHERWISE BE ON THE TERMS AND CONDITIONS OF THIS LEASE TO THE EXTENT
APPLICABLE.
ANY HOLDING OVER WITHOUT LANDLORD'S CONSENT SHALL ENTITLE LANDLORD
TO EXERCISE ANY OR ALL OF ITS REMEDIES PROVIDED IN ARTICLE 16, NOTWITHSTANDING
THAT LANDLORD MAY ELECT TO ACCEPT ONE OR MORE PAYMENTS OF BASE RENT AND
OPERATING EXPENSES FROM TENANT.
21.3
QUITCLAIM.
AT THE EXPIRATION OR EARLIER TERMINATION OF THIS LEASE,
TENANT SHALL EXECUTE, ACKNOWLEDGE AND DELIVER TO LANDLORD, WITHIN TEN (10) DAYS
AFTER WRITTEN DEMAND FROM LANDLORD TO TENANT, ANY QUITCLAIM DEED OR OTHER
DOCUMENT REQUIRED BY ANY REPUTABLE TITLE COMPANY, LICENSED TO OPERATE IN THE
STATE OF CALIFORNIA, TO REMOVE THE CLOUD OR ENCUMBRANCE CREATED BY THIS LEASE
FROM THE PROPERTY.
22.
FINANCIAL STATEMENTS.
Tenant shall tender to Landlord within ten (10) business days after receipt of a
written request any information reasonably requested by Landlord regarding the
financial stability, credit worthiness or ability of Tenant to pay the Rent due
under this Lease. Notwithstanding the foregoing, if the Tenant is a Public
Company subject to the reporting requirements of the Securities Exchange Act of
1934 (the "Exchange Act"), Tenant shall, in lieu of the foregoing requirements,
promptly deliver to Landlord all filings made by or on behalf of Tenant with the
Securities Exchange Commission or with any securities exchange.
Landlord shall
be entitled to rely upon the information provided in determining whether or not
to enter into this Lease or for the purpose of any financing or other
transaction subsequently undertaken by Landlord.
Tenant hereby represents and
warrants to Landlord the following:
(a) that all documents