Condition of the Additional Space Clause Samples

The "Condition of the Additional Space" clause defines the state in which any extra or newly leased space must be delivered to the tenant. Typically, this clause outlines whether the additional space will be provided in its current, "as-is" condition or if the landlord is responsible for making certain repairs, improvements, or modifications before the tenant takes possession. For example, it may specify that the landlord must ensure the space is clean, free of hazards, and compliant with building codes, or it may state that the tenant accepts the space without any warranties regarding its condition. The core function of this clause is to set clear expectations and responsibilities regarding the physical state of the additional space, thereby preventing disputes over repairs or improvements at the time of occupancy.
Condition of the Additional Space a. Tenant acknowledges and agrees that Tenant has inspected the Additional Space, is fully familiar with the physical condition thereof and agrees to accept possession of the Additional Space in its then “as-is” condition as of the Additional Space Commencement Date, subject to Landlord’s performance and substantial completion, at Landlord’s expense, and in a building standard manner using building standard materials in all instances unless expressly specified otherwise, of the work set forth on the schedule annexed hereto and made a part hereof as Exhibit C (“Landlord’s Work”). Tenant acknowledges and agrees that Landlord shall have no obligation to do any work in or to the Additional Space in order to make it suitable and ready for occupancy and use by Tenant, other than Landlord’s Work and Tenant’s Improvements (as defined in ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇). The performance by Landlord of Landlord’s Work is expressly conditioned upon compliance by Tenant with all the terms and conditions of this Agreement and the Lease. b. Any changes in or additions to Landlord’s Work which shall be consented to by Landlord as provided in the Lease, and further changes in or additions to the Additional Space after Landlord’s Work has been completed, if consented to and performed by Landlord or its agents at Tenant’s request, shall be paid for by Tenant promptly when billed at cost plus 1 1/4% for insurance, 10% for overhead and 10% for general conditions, and in the event of the failure of Tenant so to pay for said changes or additions then Landlord, at its option, may consider the cost thereof, plus the above percentages, as Additional Rent payable by Tenant and collectible as such hereunder. c. If Landlord’s Work is not substantially completed and is delayed by acts, omissions or changes made or requested by Tenant, its agents, designers, architects or any other party acting or apparently acting on Tenant’s behalf, then Tenant shall pay as hereinbefore provided Fixed Annual Rent and Additional Rent on a per diem basis for each day of delay of Landlord’s substantial completion caused by Tenant or any of the aforementioned parties. d. Landlord’s Work shall be deemed to be “Substantially Completed” at such time as Landlord’s Work has been completed and the Additional Space may be lawfully occupied by Tenant for the permitted use under the Lease notwithstanding that minor or non-material details of construction, mechanical adjustment or decoration remain to be performed, provided, ...
View SourceView Similar (4)
Condition of the Additional Space. Tenant acknowledges that the Additional Space is currently leased, to Sage, whose lease is being terminated as of May 31, 2007, which is the day prior to the Additional Space Commencement Date. Tenant accepts the Additional Space in its “AS IS” condition as of the date of Sage’s surrender of possession of the Additional Space to Tenant, and the parties acknowledge and agree that Landlord is under no obligation to make any structural or other alterations, decorations, additions, improvements, renovations or other changes in or to the Additional Space. Without limitation of the generality of the foregoing, under no circumstances shall Landlord be responsible for any change of condition in the Additional Space, and the rent under the Lease shall in no event be withheld on account of any change in condition.
View SourceView Similar (2)
Condition of the Additional Space. Tenant has inspected, and agrees to accept possession of, the First Phase Additional Space and the Second Phase Additional Space in the condition existing on the date hereof "as-is", and further agrees that Landlord shall have no obligation to perform any work or make any installations in order to prepare the First Phase Additional Space or the Second Phase Additional Space for Tenant's occupancy. The taking of possession of each of the First Phase Additional Space and the Second Phase Additional Space by Tenant shall be conclusive evidence as against Tenant that at the time such possession was so taken, the First Phase Additional Space and the Second Phase Additional Space, respectively, were in good and satisfactory condition.
View Source

Related to Condition of the Additional Space

  • Condition of the Leased Property Lessee acknowledges receipt and delivery of possession of the Leased Property. Lessee has examined and otherwise has knowledge of the condition of the Leased Property and has found the same to be satisfactory for its purposes hereunder. Lessee is leasing the Leased Property “as is” in its present condition. Lessee waives any claim or action against Lessor in respect of the condition of the Leased Property. LESSOR MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN RESPECT OF THE LEASED PROPERTY, OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY LESSEE. LESSEE ACKNOWLEDGES THAT THE LEASED PROPERTY HAS BEEN INSPECTED BY LESSEE AND IS SATISFACTORY TO IT. Provided, however, to the extent permitted by law, Lessor hereby assigns to Lessee all of Lessor’s rights to proceed against any predecessor in title (other than any Affiliate of Lessee, which conveyed the Property to Lessor) for breaches of warranties or representations or for latent defects in the Leased Property. Lessor shall fully cooperate with Lessee in the prosecution of any such claim, in Lessor’s or Lessee’s name, all at Lessee’s sole cost and expense. Lessee hereby agrees to indemnify, defend and hold harmless Lessor from and against any claims, obligations and liabilities against or incurred by Lessor in connection with such cooperation.

  • Condition of the Premises Tenant has examined the Premises, including the appliances and fixtures (☐ and furnishings), and acknowledges that they are in good condition and repair, normal wear and tear excepted, and accepts them in its current condition, except for:

  • Condition of Premises Lessor makes no warranty or representation as to the Premises. Lessee acknowledges and agrees that it has occupied and familiarized itself with the Premises and has had adequate opportunity to investigate and inspect the condition of the Premises, and enters into this Lease upon the basis of its own review, and is leasing the Premises in their “AS IS, WHERE IS” CONDITION WITH ALL FAULTS, WHETHER PREVIOUSLY EXISTING OR ARISING FROM OR PERTAINING TO ANY CONSTRUCTION, RENOVATION, RELOCATION OR IMPROVEMENT OF ANY PORTION OF THE PREMISES PERFORMED BY LESSOR OR OTHERS, INCLUDING BUT NOT LIMITED TO BOTH LATENT AND PATENT DEFECTS. EXCEPT AS EXPRESSLY SET FORTH TO THE CONTRARY IN THIS LEASE, NO WARRANTIES, EXPRESS OR IMPLIED, ARE MADE BY LESSOR OR ANY OF ITS AFFILIATES CONCERNING SUCH ITEMS, INCLUDING BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. LESSEE HEREBY WAIVES AND DISCLAIMS ANY WARRANTIES THAT MAY ARISE BY OPERATION OF LAW. Lessee further acknowledges and agrees that it has had an opportunity to review and to discuss with various agents and/or representatives of Lessor the environmental condition of the Premises. Lessee has investigated and has knowledge of operative or proposed governmental laws and regulations including, without limitation, environmental laws and regulations to which the Premises are or may be subject and enters into this Lease upon the basis of its review and determination of the applicability and effect of such laws and regulations. Lessee acknowledges that Lessor expressly disclaims any representations or warranties of any kind or nature, express or implied, as to the condition (financial or otherwise), value or quality of the products, assets or properties of the Premises. Lessee hereby accepts the Premises in their condition existing as of the date hereof, subject to all applicable zoning, municipal, county and state laws, ordinances and regulations governing and regulating the use of the Premises, and accepts this Lease subject thereto and to all matters disclosed thereby and by any exhibits attached hereto. Lessee hereby agrees that all furniture, equipment, machinery and all other personal property, excepting any computers, that are located on or in the Premises as of the date hereof shall remain on the Premises as and when Lessee evacuates the Premises on the Termination Date or any extension thereof.

  • Construction of the Improvements (a) Prior to ▇▇▇▇▇▇’s execution of the construction contract (the “Contract”) with a general contractor to be selected by ▇▇▇▇▇▇ and approved by Landlord (“Contractor”), Tenant shall submit the Contract to Landlord for its approval, which approval shall not be unreasonably withheld, conditioned or delayed. Landlord shall advise Tenant as soon as reasonably practical, and in all events, within ten (10) business days after ▇▇▇▇▇▇▇▇’s receipt of the Contract if the same is unsatisfactory or incomplete in any respect in ▇▇▇▇▇▇▇▇’s commercially reasonable discretion. If Tenant is so advised, Tenant shall promptly revise the Contract in accordance with such review and any such disapproval of Landlord in connection therewith. Prior to the commencement of the construction of the Improvements, and after Tenant has accepted all bids for the Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, of the final costs to be incurred or which have been incurred in connection with the design and construction of the Improvements to be performed by or at the direction of Contractor, Tenant or the Construction Manager, which costs form a basis for the amount of the Contract and any other architectural, engineering, design, construction or procurement contracts entered into by or on behalf of Tenant for the design, construction or fit-out of any portion of the Improvements (the “Final Costs”). Prior to the commencement of construction of the Improvements, Tenant shall supply Landlord with cash, an irrevocable letter of credit, or such other financial assurance that is satisfactory to the Landlord in an amount (the “Over- Allowance Amount”) equal to the difference between the amount of the Final Costs and the amount of the Tenant Improvement Allowance. The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any of the then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. In the event that, after the Final Costs have been delivered by Tenant to Landlord, the costs relating to the design and construction of the Improvements shall change, unless, even with such change, the Final Costs are less than the amount of the Tenant Improvement Allowance, any additional costs necessary to such design and construction in excess of the Final Costs, shall be paid by Tenant to Landlord immediately as an addition to the Over-Allowance Amount or at Landlord’s option, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in Section 3.3 below, for Landlord’s approval, prior to Tenant paying such costs. If the total actual costs relating to the design and construction of the Improvements shall be less than the sum of the Tenant Improvement Allowance and the Over-Allowance Amount, and if the Tenant delivered the Over-Allowance Amount in cash, then the Landlord shall reimburse the Tenant for the amount of such difference, but not more than the Over-Allowance Amount. Notwithstanding anything set forth in this Section 3 to the contrary, construction of the Improvements shall not commence until (a) Landlord has approved the Contract, (b) Tenant has procured and delivered to Landlord a copy of all Permits and Approvals, (c) Tenant has delivered to Landlord the Over-Allowance Amount, and (d) MLB PDL shall have provided written confirmation that the Improvements as shown on the Approved Working Drawings would cause the Ballpark to be in compliance with the PDL Facility Standards; provided that the Ballpark’s compliance with the PDL Facility Standards shall only be confirmed after an official audit has been completed of the Ballpark and the Improvements. (b) The parties agree that, for the purpose of achieving cost savings, except for structural alterations to the Ballpark, Tenant may seek bids for and procure the Improvements listed on Exhibit D directly rather than under the Contract through the Contractor and involving the Architect. (c) ▇▇▇▇▇▇’s Construction Manager, Contractor, and all subcontractors, laborers, materialmen, and suppliers used by Tenant (such subcontractors, laborers, materialmen, and suppliers, and the Contractor and Construction Manager to be known collectively as “Tenant’s Agents”) shall construct the Improvements in strict accordance with the Approved Working Drawings. Tenant shall exercise commercially reasonable efforts to cause the Improvements to be completed prior to the 2026 Baseball Season. The Improvements shall comply in all respects with the following: (i) all applicable building codes, and other state, federal, city or quasi-governmental laws, codes, ordinances and regulations, as each may apply according to the rulings of the controlling public official, agent or other person; (ii) applicable standards of the American Insurance Association (formerly, the National Board of Fire Underwriters) and the National Electrical Code; and

  • Use and Possession of Certain Premises Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall be entitled to occupy and use any premises owned or leased by the Grantors where any of the Collateral or any records relating to the Collateral are located until the Secured Obligations are paid or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay any Grantor for such use and occupancy.