Agmt04 cinema - closing docs - Laserfiche WebLink

Browse Search

, Premises for business to the public. Tenant shall not be deemed to have initially opened the Premises for business to the public during any period in which Tenant opens for business with a , special preview on an invitation only basis or with other special activities which do not provide revenues to Tenant. The Term shall expire on the twentieth (20th) Anniversary of the Commencement Date unless the Initial Term is extended pursuant to Section 3.3, in which case, the Term shall expire on the last day of the Extension Term (subject, if applicable, to further extension pursuant to Section 3.3). Within ten (10) days after the Commencement Date, Tenant and Landlord shall execute a mutually-approved letter agreement, in customary form, setting forth the Commencement Date and the scheduled termination date of the Initial Term (each party agreeing to be reasonable in the approval of such letter agreement). For purposes of determining the satisfaction of the Commencement Date Conditions, a given item will be deemed to be substantially completed only if the non-completion thereof and "{ the performance of any work required to fully complete such item does not, in Tenant's reasonable judgment, materially interfere with the access to the Premises and/or the conduct of Tenant's business therein and/or the access or use of the Common Areas as contemplated hereunder. If and to the extent that the satisfaction of any of the foregoing Commencement Date Conditions or the conditions to the commencement of the Tenant's Work Period is prevented or delayed as a result of Ten ant's failure to timely perform its obligations under this Lease, then, for purposes of determining the Commencement Date of this Lease, the applicable condition shall be deemed to be satisfied on the date it would have been satisfied without such prevention or delay. If and to the extent that any of the Commencement Date Conditions is not (in fact) satisfied by the Commencement Date (i.e., Tenant elects to open for business in the Premises prior to the satisfaction of the Commencement Date Conditions), then (i) Landlord shall use its commercially reasonable efforts to satisfy the applicable Commencement Date Conditions as soon as practicable after the Commencement Date, provided that Landlord shall not unreasonably interfere with the use of or access to the Premises or the Parking Facility in so doing, and (ii) from the date Tenant opens for business in the Premises until the date that the Commencement Date Conditions are satisfied (including, without limitation, the completion and opening of the Parking Facility containing not less than the Minimum Parking Spaces and the operation thereof for at least thirty (30) days), all Base Rent, Percentage Rent and Additional Rent otherwise due hereunder shall be abated and in lieu thereof Tenant shall pay Alternate Rent pursuant to Section 4.7. (b) Tenant's Termination Right. If the Tenant's Work Commencement Conditions are not satisfied within twenty-four (24) months after the Effective Date of this Lease or if the Commencement Date Conditions are not satisfied within sixty (60) days after the expiration of Tenant's Work Period, then Tenant may elect to terminate this Lease by sending written notice to Landlord at any time thereafter but prior to the commencement of Tenant's Work Period or prior to the date Landlord satisfies the Commencement Date Conditions, as the case may be; provided, however, that Tenant's right to terminate shall not apply if the applicable conditions remain " 18 CHG02:3091375.v8 . _.. "....