GMCR » Topics » Landlords Covenants

This excerpt taken from the GMCR 10-K filed Dec 13, 2007.

Landlord’s Covenants

 

5.1 Affirmative Covenants. Landlord covenants with Tenant:

 

  5.1.1 Heat and Air-Conditioning. To furnish to the Premises heat and air-conditioning (reserving the right, at any time, to change energy or heat sources) sufficient to maintain the Premises at comfortable temperatures (subject to all federal, state, and local regulations relating to the provision of heat), during such hours of the day and days of the year that the Building is normally open (the “Normal Business hours”), which are 8:00 a.m.—6:00 p.m. on Mondays—Fridays, and 8:00 a.m.—12:00 p.m. on Saturdays, except for the following national holidays on which the Building is closed: New Year’s Day, Presidents’ Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day. If Tenant shall require air-conditioning outside Normal Business Hours, Landlord shall, upon request of Tenant received at least 24 hours prior to the time such additional air conditioning is required, furnish such service or cause such service to be furnished and Tenant shall pay, as Additional Rent, such charges as may from time to time be established by Landlord and be in effect to cover Landlord’s costs of providing such service (Landlord hereby representing that currently such charge is $50.00/hour).

 

  5.1.1.1 Roof Top Chillers. In addition to the base building heat and air-conditioning being supplied by Landlord pursuant to Section 5.1.1, Tenant shall have the right, upon written request to Landlord, and subject to availability, to have non-exclusive use of the two approximately 100 ton roof top chillers located on the roof of the Building (the “Roof Top Chillers”). In the event that Tenant elects to use the same, Tenant shall, subject to the terms of Section 6.1.3 hereof, maintain and repair the Roof Top Chillers at Tenant’s sole cost and expense. To the extent that Tenant uses the Roof Top Chillers, Tenant shall pay to Landlord, as Additional Rent, its proportionate share, based upon Tenant’s usage of the Roof Top Chiller, of all costs incurred by Landlord in association with the use and operation of the Roof Top Chillers.

 

  5.1.2 Electricity. To furnish to the Premises, separately metered by check meter and at the direct expense of Tenant as hereinabove provided, reasonable electricity for Tenant’s Permitted Uses. If Tenant shall require electricity in excess of reasonable quantities for Tenant’s Permitted Uses and if (i) in Landlord’s reasonable judgment, Landlord’s facilities are inadequate for such excess requirements, or (ii) such excess use shall result in an additional burden on the Building utilities systems and additional cost to Landlord on account thereof, as the case may be, (a) Tenant shall, upon demand, reimburse Landlord for such additional cost, as aforesaid, or (b) Landlord, upon written request, and at the sole cost and expense of Tenant, will furnish and install such additional wire, conduits, feeders, switchboards and appurtenances as reasonably may be required to supply such additional requirements of Tenant (if electricity therefor is then available to Landlord), provided that the same shall be permitted by applicable laws and insurance regulations and shall not cause permanent damage or injury to the Building or cause or create a dangerous or hazardous condition or entail excessive or unreasonable alterations or repairs.

 

  5.1.3

Cleaning; Water. To provide cleaning to the Premises in accordance with cleaning and janitorial standards generally prevailing throughout the term hereof in comparable office buildings within the municipality in which the Building is

 

8


 

located; and to furnish water for ordinary cleaning, lavatory and toilet facilities. If Tenant shall require water in excess of reasonable quantities, and provided that the same shall be permitted by applicable laws and insurance regulations and shall not cause permanent damage or injury to the Building or cause or create a dangerous or hazardous condition or entail excessive or unreasonable alterations or repairs, Landlord may, at Tenant’s sole expense, install such additional plumbing and appurtenances as reasonably may be required to supply such excess water, and, irrespective of whether any such alterations have been made, may either (i) assess a reasonable charge for the additional water so used, or (ii) at Landlord’s election and at the sole cost and expense of Tenant, install a water meter to measure Tenant’s usage, in which event Tenant shall pay for such usage as is shown on such meter.

 

  5.1.4 Elevator; Fire Alarm. To furnish elevator service (if any) from the lobby to the Premises; and to maintain fire alarm systems within the Building. Subject to the terms of this Lease, including but not limited to Section 6.2.5 hereof, Tenant shall have the right, during such time as Tenant leases the entirety of the leasable area on the second (2nd) floor of the Building, to modify the elevator system so as to restrict elevator access to the second floor of the Building to Tenant ,Tenant-related guests and Landlord. Landlord shall in no way be liable for any security system so installed by Tenant, and Tenant shall indemnify, defend and hold harmless Landlord from and against any and all claims, costs, expenses, fees or suits arising out of accidents, damage, injury or loss to any and all persons and property, arising from such work.

 

  5.1.5 Repairs. Except as otherwise expressly provided herein, to make such repairs and replacements to the roof, exterior walls, floor slabs and other structural components of the Building, and to the common areas, facilities and plumbing, elevators, electrical, heating, ventilating and air-conditioning systems of the Building as may be necessary to keep them in good repair and condition (exclusive of equipment installed by Tenant and except for those repairs required to be made by Tenant pursuant to Section 6.1.3 hereof and repairs or replacements occasioned by any act or negligence of Tenant, its servants, agents, customers, contractors, employees, invitees, or licensees).

 

  5.1.6 Landscaping, Snow Removal, Grounds Maintenance. To provide landscaping and grounds maintenance as necessary to keep the Premises in first-class condition consistent with other properties in the area; and to cause snow to be removed from the parking area serving the Building and the sidewalks, driveways and loading area on the Premises; and to repave and restripe the parking area and maintain and replace the outdoor lighting therein as and when reasonably necessary.

 

  5.1.7 Insurance. To take out and maintain throughout the term (i) all-risk casualty insurance in an amount equal to 100% of the replacement cost of the Building above foundation walls, and (ii) comprehensive general liability insurance with respect to the Property in commercially reasonable amounts.

 

  5.1.8 Access. Tenant shall have access to the Premises 24 hours a day, 7 days a week, 365 days a year.

 

  5.1.9 Compliance with Laws: Landlord shall comply with all applicable laws relating to the Building, provided that compliance with such applicable laws is not the responsibility of Tenant under this Lease or another tenant or occupant under its lease, and provided further that Landlord’s failure to comply therewith would prohibit Tenant from obtaining or maintaining a certificate of occupancy for the Premises, or would unreasonably and materially affect the safety of Tenant, its employees or visitors, or otherwise materially interfere with or materially affect Tenant’s Permitted Use of the Premises. Notwithstanding the foregoing, Landlord shall not be obligated to comply with any law to the extent it has a good faith objection to such compliance and is pursuing the same with applicable authorities. Landlord shall be permitted to include in Operating Costs any costs or expenses incurred by Landlord under this Subsection 5.1.9 to the extent consistent with, and subject to, the terms of Section 4.2.3 of this Lease.

 

5.2 Interruption. Landlord shall be under no responsibility or liability for failure or interruption of any of the above-described services, repairs or replacements caused by breakage, accident, strikes, repairs, inability to obtain supplies, labor or materials, or for any other causes beyond the control of the Landlord, and in no event for any indirect or consequential damages to Tenant; and failure or omission on the part of the Landlord to furnish any of same for any of the reasons set forth in this paragraph shall not be construed as an eviction of Tenant, actual or constructive, nor entitle Tenant to an abatement of rent, nor render the Landlord liable in damages, nor release Tenant from prompt fulfillment of any of its covenants under this Lease. Notwithstanding the foregoing, if Landlord fails to provide any service that it is required to provide above so that Tenant’s ability to conduct business at the Premises is materially adversely affected for a period of five (5) consecutive business days after written notice thereof from Tenant to Landlord, then, provided that such failure or Landlord’s inability to cure such condition is not (i) due to a cause beyond Landlord’s reasonable control and/or (ii) generally affecting other buildings in the vicinity of the Premises (such as a neighborhood power outage or a water main break) or a fire or other casualty or taking (which shall be governed by Article 7 below) or the fault or negligence of Tenant or any of its agents, employees or contractors, the Fixed Rent and Additional Rent shall be equitably abated based upon the impact thereof on Tenant’s ability to conduct business in the Premises until such service(s) is restored to their level prior to the interruption.

 

5.3 Outside Services. In the event Tenant wishes to provide outside services for the Premises over and above those services to be provided by Landlord as set forth herein, Tenant shall first obtain the prior written approval of Landlord (which approval shall not be unreasonably withheld, conditioned or delayed) for the installation and/or utilization of such services (“Outside services” shall include, but shall not be limited to, cleaning services, television, so-called “canned music” services, security services, catering services and the like.) In the event Landlord approves the installation and/or utilization of such services, such installation and utilization shall be at Tenant’s sole cost, risk and expense.
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki