4.5 SR 05-16-2022 - Laserfiche WebLink

Home Browse Search

COVID-19 Provision. In the event of generally applicable governmental rules, laws, regulations, or executive orders enacted for the purpose of reducing the spread of COVID-19 temporarily prohibit the operation of a business for the Permitted Use at the Premises during the Initial Term (the "Temporary Prohibition Period"), and provided Tenant is not then in default under this Sub -Lease, then the Base Rent accruing during such Temporary Prohibition Period shall be deferred (with Base Rent during any partial calendar months during such period to be appropriately prorated) until the earlier to occur of (i) six (6) months after the end of the said Temporary Prohibition Period and (ii) the end of the Term. Tenant shall use commercially reasonable efforts to promptly apply for any and all governmental assistance, whether in the form of grants, loans, forgiveness, waivers, deferrals, or other economic stimulus benefits, that both would reasonably be expected to benefit Tenant and may now or hereafter be available to Tenant on account of or relating to the COVID-19 pandemic (collectively, "Stimulus Funds"), with Tenant's failure to do so constituting a material default under the Sub -Lease. If Tenant receives any Stimulus Funds or the economic benefits thereof, Tenant shall promptly, and in any event within 30 days, first apply the same (or the economic benefit thereof) toward the payment of the Base Rent deferred under this Section 58 to the extent permitted under applicable law, and upon payment of such amount to Landlord, the amount of Base Rent deferred under this Section 58 shall be reduced by the amount of the Stimulus Funds so paid to Landlord. Notwithstanding anything to the contrary in this Section 58, if any Event of Default occurs prior to the repayment of all Base Rent deferred under this Section 58, then Tenant shall not be entitled to any further Base Rent deferral hereunder and all Base Rent that has been deferred will become immediately due and payable to Landlord. In consideration for the Base Rent deferral provided herein, Tenant hereby waives any and all claims and defenses asserting: (i) Tenant has the right to otherwise or further offset, defer, or abate any Rent due under this Sub -Lease as a result of the COVID-19 pandemic or any related prior, existing, or future Federal, State, County, City or other local rules, regulations, Executive Orders or other regulations or edicts; or (ii) that the COVID-19 pandemic or any related prior, existing, or future Federal, State, County, City or other local rules, regulations, Executive Orders or other regulations or edicts constitute or result in a frustration of purpose of the Sub -Lease or otherwise entitle Tenant to terminate this Sub -Lease. Tenant acknowledges and agrees that as of the Effective Date there are no generally applicable governmental rules, laws, regulations, or executive orders that have been enacted for the purpose of reducing the spread of COVID-19 that would temporarily prohibit the operation of a business for the Permitted Use at the Premises. Counter warts. This Sub -Lease may be executed in several counterparts, each of which will be deemed an original, and all of which together will constitute one and the same instrument. Effective Date. The Effective Date of this Sub -Lease will be the date set forth on the signature page of this Sub -Lease. REMAINDER OF PAGE LEFT INTENTIONALLY BLANK ** Signature Page of Sub -Lease to Follow ** -14-