RESPONSIBLE FOR PAYING FIFTY PERCENT (50%) OF SUCH
HOLDOVER PENALTY ACCRUING AFTER SEPTEMBER 1, 2005, PROVIDED THAT LANDLORD'S
CONTRIBUTION SHALL NOT EXCEED $1,000 PER DAY (LANDLORD'S COLLECTIVE CONTRIBUTION
SHALL BE REFERRED TO AS "LANDLORD'S HOLDOVER CONTRIBUTION").
THE FIRST OUTSIDE
DATE SHALL BE SUBJECT TO EXTENSION TO THE EXTENT OF ANY "TENANT DELAY" (AS
DEFINED IN SECTION 5.2 OF THE TENANT WORK LETTER) AND/OR ANY DELAY CAUSED BY
FORCE MAJEURE.
IN THE EVENT THAT LANDLORD HAS FAILED TO CAUSE THE LEASE
COMMENCEMENT DATE TO HAVE OCCURRED ON OR BEFORE JANUARY 1, 2006 (THE "SECOND
OUTSIDE DATE"), TENANT SHALL HAVE THE RIGHT, EXERCISABLE BY DELIVERY OF WRITTEN
NOTICE TO LANDLORD WITHIN TEN (10) DAYS AFTER THE SECOND OUTSIDE DATE, TO
TERMINATE THIS LEASE BY DELIVERING WRITTEN NOTICE TO LANDLORD OF SUCH
TERMINATION.
THE SECOND OUTSIDE DATE SHALL BE SUBJECT TO EXTENSION TO THE
EXTENT OF ANY TENANT DELAY AND/OR ANY DELAY CAUSED BY FORCE MAJEURE (NOT TO
EXCEED 3 MONTHS FOR FORCE MAJEURE).
IF TENANT ELECTS TO TERMINATE THIS LEASE
PURSUANT TO THE TERMS OF THIS SECTION 2.3, THEN TENANT SHALL REPAY TO LANDLORD
LANDLORD'S HOLDOVER CONTRIBUTION ON THE DATE THAT TENANT DELIVERS THE
TERMINATION NOTICE TO LANDLORD.
THE REMEDIES OF TENANT PROVIDED FOR IN THIS
SECTION 2.3 SHALL BE TENANT'S SOLE AND EXCLUSIVE REMEDIES FOR LANDLORD'S FAILURE
TO TIMELY CAUSE THE LEASE COMMENCEMENT DATE TO OCCUR AND TENANT HEREBY WAIVES
ANY AND ALL OTHER REMEDIES, RECOURSE, CLAIMS OR CAUSES OF ACTION, UNDER THIS
LEASE, AT LAW OR IN EQUITY, FOR SUCH FAILURE TO TIMELY PERFORM BY LANDLORD.
ARTICLE 3
BASE RENT
3.1
IN GENERAL.
TENANT SHALL PAY, WITHOUT PRIOR
NOTICE OR DEMAND, TO LANDLORD OR LANDLORD'S AGENT AT THE MANAGEMENT OFFICE OF
THE PROJECT, OR, AT LANDLORD'S OPTION, AT SUCH OTHER PLACE AS LANDLORD MAY FROM
TIME TO TIME DESIGNATE IN WRITING, BY A CHECK FOR CURRENCY WHICH, AT THE TIME OF
PAYMENT, IS LEGAL TENDER FOR PRIVATE OR PUBLIC DEBTS IN THE UNITED STATES OF
AMERICA, BASE RENT ("BASE RENT") AS SET FORTH IN SECTION 4 OF THE SUMMARY,
PAYABLE IN EQUAL MONTHLY INSTALLMENTS AS SET FORTH IN SECTION 4 OF THE SUMMARY
IN ADVANCE ON OR BEFORE THE FIRST DAY OF EACH AND EVERY CALENDAR MONTH DURING
THE LEASE TERM, WITHOUT ANY SETOFF OR DEDUCTION WHATSOEVER, EXCEPT AS SET FORTH
IN THIS LEASE.
THE BASE RENT FOR THE FIRST FULL MONTH OF THE LEASE TERM WHICH
OCCURS AFTER THE EXPIRATION OF ANY FREE RENT PERIOD SHALL BE PAID AT THE TIME OF
TENANT'S EXECUTION OF THIS LEASE.
IF ANY "RENT," AS THAT TERM IS DEFINED IN
SECTION 4.1, BELOW, PAYMENT DATE (INCLUDING THE LEASE COMMENCEMENT DATE) FALLS
ON A DAY OF THE MONTH OTHER THAN THE FIRST DAY OF SUCH MONTH OR IF ANY PAYMENT
OF RENT IS FOR A PERIOD WHICH IS SHORTER THAN ONE MONTH, THE RENT FOR ANY
FRACTIONAL MONTH SHALL ACCRUE ON A DAILY BASIS FOR THE PERIOD FROM THE DATE SUCH
PAYMENT IS DUE TO THE END OF SUCH CALENDAR MONTH OR TO THE