COMPLETION AND RENTAL COMMENCEMENT DATE Clause Samples
The 'Completion and Rental Commencement Date' clause defines the specific point in time when a leased property is considered ready for occupancy and when the tenant's obligation to begin paying rent starts. Typically, this clause outlines the criteria for completion, such as obtaining necessary permits or certifications, and may specify procedures for confirming readiness, like inspections or written notices. Its core function is to provide clarity and certainty for both landlord and tenant regarding when the lease obligations, especially rent payments, officially begin, thereby preventing disputes over timing and responsibility.
COMPLETION AND RENTAL COMMENCEMENT DATE. The Term of the Lease applicable to the Additional Premises, and Tenant’s obligation for the payment of rent for the Additional Premises under the Amendment, shall commence on the “Additional Premises Commencement Date”, which shall be the earlier of: (i) the date on which the Tenant first conducts any business from all or part of the Additional Premises; or (ii) the date on which the Tenant Improvements have been substantially completed as determined by a certificate from Landlord’s architect (the earlier of which dates shall be deemed to be the date on which Landlord has tendered possession of the Additional Premises to Tenant under the Amendment); provided that, if there shall be a delay in substantial completion of the Tenant Improvements as a result of:
(a) Tenant’s failure to approve any item or perform any other obligation in accordance with and by the date specified in the Work Schedule;
(b) Tenant’s request for materials, finishes or installations other than those readily available, whether or not approved by Landlord or reflected in the Tenant Improvement Plans;
(c) Tenant’s changes in the Tenant Improvement Plans after Tenant approves the Tenant Improvement Plans;
(d) Tenant’s request to deviate from the Standards for the Building; or
(e) Tenant’s failure to timely make any payment due from Tenant under this Work Letter Agreement or the Lease; then, as provided for in the Lease, the commencement of the Term shall be accelerated by the number of days of such delay. The Tenant Improvements shall be deemed substantially complete notwithstanding the fact that minor items of the Tenant Improvements (such as construction, mechanical adjustments, or decorations) which do not materially interfere with Tenant’s use of the Additional Premises remain to be performed (items normally referred to as “punch list” items), which items Landlord shall promptly complete or correct. This FIRST AMENDMENT TO AMENDED AND RESTATED OFFICE LEASE (this “Amendment”), dated as of April 20, 2005, is by and between AC-CATALINA LANDING LLC, a Delaware limited liability company (“Landlord”), and OMP, INC., a Delaware corporation, as successor-in-interest to Obagi Medical Products, Inc. (“Tenant”).
COMPLETION AND RENTAL COMMENCEMENT DATE. The commencement of the term of this Lease and Tenant's obligation for the payment of rental under the Lease shall not commence until substantial completion of construction of the Tenant Improvements. However, if there shall be a delay in substantial completion of the Tenant Improvements as a result of:
(i) Tenant's failure to approve any item or perform any other obligation in accordance with and by the date specified in the Work Schedule;
(ii) Tenant's request for materials, finishes or installations other than those readily available; or
(iii) Tenant's changes in the Tenant Improvement Plans after their approval by Tenant; then commencement of the term of the Lease and the rental commencement date shall be accelerated by the number of days of such delay.
COMPLETION AND RENTAL COMMENCEMENT DATE. Tenant’s obligation for the payment of rent pursuant to the Lease will commence on the Commencement Date as set forth in the Lease; however, such payment of rent may be delayed in the event the substantial completion of the Tenant Improvements is delayed by Landlord’s actions. If, however, Tenant’s occupancy and use of the Premises are delayed as a result of (a “Tenant Delay”):
(a) Tenant’s failure to timely supply information necessary to complete the Tenant Working Drawings (or revisions to such drawings) or to approve the Tenant Space Plan by May 27, 2011, the Preliminary Tenant Improvement Cost Itemization by May 27, 2011, or the Final Tenant Working Drawings or Tenant Cost Proposal within the time frame established in Paragraph 8 above; or
(b) Tenant’s request for new work involving Above-Allowance Work; or
(c) Modifications, revisions and changes to the Tenant Space Plan or Tenant Working Drawings requested by or on behalf of Tenant; or
(d) Changes in the work requested by or on behalf of Tenant or orders to halt or delay the work given by or on behalf of Tenant; or
(e) Any other delay of any kind or nature caused by Tenant or its contractors, architects, space planners or other agents or employees, then the Commencement Date of the Lease and Tenant’s obligation for the payment of rent shall commence on the date set forth in the Lease regardless of any contrary provisions of the Lease.
COMPLETION AND RENTAL COMMENCEMENT DATE. When Landlord's Architect has furnished Landlord with a certificate that the work to be done by Landlord pursuant hereto has been substantially complete, Completion of the Premises shall be deemed to have occurred and possession thereof deemed delivered to Tenant for all purposes of the Lease including, without limitation, Paragraph 3 thereof. Landlord and Tenant understand that pursuant to Paragraph 3 of the Lease, Tenant's obligation to pay Rent thereunder shall not commence until Landlord's Architect has furnished such certificate; provided, however, that if Landlord shall be delayed in substantially completing said work as a result of:
COMPLETION AND RENTAL COMMENCEMENT DATE. (a) Lessor's Obligations. Upon obtaining all necessary governmental -------------------- approvals, Lessor shall commence construction of and diligently pursue the completion of the Tenant Improvements substantially in compliance with the Approved Plans and this Agreement, and in conformance with all conditions applicable to the Tenant Improvements which are necessary for lawful occupancy of the Premises.
COMPLETION AND RENTAL COMMENCEMENT DATE. Notwithstanding anything to the contrary contained in the Lease, ▇▇▇▇▇▇'s obligation for the payment of rental under the Lease shall not commence until Landlord has substantially completed the Tenant Improvements, subject only to the completion of punch list items. Substantial completion shall be as determined by issuance of a Temporary Certificate of Occupancy issued by the City of Alameda. If Landlord shall be delayed in substantially completing the Tenant Improvements as a result of:
a. Tenant's changes to plans and specifications after approval thereof pursuant to Paragraph 4(c) above;
b. Tenant's request for materials, finishes, or installations other than tenant standard improvements;
c. ▇▇▇▇▇▇'s request for changes in the Tenant Improvements after commencement of construction;
d. Hindrance or disruption of the work of ▇▇▇▇▇▇▇▇'s contractor resulting from Tenant Vendor's Work or any other reason under ▇▇▇▇▇▇'s control; or
e. Cessation or termination of work in the premises due to Tenant's failure to pay when due all amounts payable by Tenant pursuant to this Exhibit B; then the commencement date of Tenant's obligation for payment of rental shall be advanced by the number of days of such delay. All time periods referred to in this Exhibit B shall be computed on a calendar basis with no allowance for holidays or weekends.
COMPLETION AND RENTAL COMMENCEMENT DATE. The commencement of the Term of the Lease and Tenant's obligation for the payment of rent under the Lease shall commence as of the date referred to in Section 1g of the Lease provided, however, that if there shall be a delay in substantial completion of the Tenant Improvements as a result of:
(a) Tenant's failure to approve any items or perform any other obligation in accordance with and by the date specified in the Work Schedule;
(b) Tenant's request for materials, finishes or installations other than those readily available;
(c) Tenant's changes in the Tenant Improvement Plans after the previous approval of the Tenant Improvement Plans by Tenant; or
(d) Tenant's request to deviate from the Building Standards for the Tenant Improvements; then the commencement of the Term of the Lease and the rent commencement date shall be accelerated by the number of days of such delay. The Tenant Improvements shall be deemed substantially complete notwithstanding the fact that minor details of construction, mechanical adjustments or decorations which do not materially interfere with Tenant's use and enjoyment of the Premises remain to be performed (items normally referred to as "Punch List" items).
COMPLETION AND RENTAL COMMENCEMENT DATE. The Commencement of the term --------------------------------------- of the Lease shall not commence until the earlier of the following two dates: (i) the date upon which Tenant takes possession of the Premises; or (ii) the date upon which the Premises are ready for occupancy, i.e., the Tenant Improvements have been substantially completed as evidenced by the final inspection performed by the Building Department of the city and County of Denver, or as determined by Landlord's architect or representative; provided that if there shall be a delay in substantial completion of the Tenant Improvements as a result of:
(a) Tenant's failure to approve any item or perform any other obligation in accordance with and by the date specified in the Work Schedule;
(b) Tenant's request for materials, finishes or installations other than those readily available;
(c) Tenant's changes in the Tenant Improvement Plans after the approval by Tenant;
(d) Tenant's request to deviate from the Standards for Tenant Improvements; then the commencement of the term of the Lease and the rental commencement date shall be accelerated by the number of days of such delay. The Tenant Improvements shall be deemed substantially complete notwithstanding the fact that minor details of construction, mechanical adjustments or decorations which do not materially interfere with Tenant's use and enjoyment of the Premises remain to be performed (items normally referred to as "punch list" items).
COMPLETION AND RENTAL COMMENCEMENT DATE a. Notwithstanding the Target Commencement Date of the Lease, Lessee's obligation for the payment of rent under the Lease shall not commence until the Demised Premises are Ready for Occupancy; provided, if Lessor is delayed in substantially completing the Work as a result of delays caused by Lessee, then Lessee's obligation to pay rent under the Lease shall commence on the date the Tenant Improvements would have been Ready for Occupancy except for the delays caused by Lessee as reasonably determined by Lessor and the Contractor.
b. For purposes of this Workletter, the phrase "delays caused by Lessee" means any delay that Lessor may encounter in performance of the Work as a result of (i) delays resulting from changes in or additions to the approved Plans and Specifications or the Tenant Improvements which are requested by Lessee; (ii) delays by Lessee in the submission of information (including the Plans and Specifications) required of Lessee pursuant to this Workletter, or the giving of authorizations or approvals within any time limits set forth in this Workletter; (iii) delays due to the postponement of any of the Work at the request of Lessee; or (iv) delays otherwise attributable to the acts or omissions of Lessee or its employees, agents or contractors.
COMPLETION AND RENTAL COMMENCEMENT DATE. Tenant shall be solely responsible for directing its contractor to complete the Tenant Improvements in the applicable time frame to enable Tenant to occupy the Premises by the Commencement Date. In the event that Landlord reasonably believes that a delay caused by Tenant or Tenant’s contractor has occurred which will result in the Commencement Date occurring more than six (6) months after the Estimated Delivery Date, then Landlord shall have the right, in addition to any other remedy provided for in the Lease, to terminate this Lease upon written notice to Tenant and thereafter both parties shall be relieved of all obligations under the Lease thereafter accruing.