Construction of Base Building Improvements. Landlord shall construct, at its sole cost and expense, in a good workmanlike manner and without deduction from the Tenant Improvement Allowance, the Base Building improvements (the "Base Building Improvements"), generally as depicted in Schedule 1-A, attached hereto (the "Base Building Plans"), including the items set forth in Schedule 1-B (the "Base Building Modifications"), subject to Landlord Minor Changes, as that term is defined herein below. In the event of a conflict between Schedule 1-A and Schedule 1-B, Schedule 1-A shall prevail. Landlord hereby reserves the right to modify the Base Building Plans, provided that such modifications (A) are required to comply with Applicable Laws or as a condition of any governmental or other third-party approvals or consents that are required to be obtained in connection with the Base Building Improvements, (B) will not (i) materially and adversely affect Tenant's Permitted Use of the Premises and the Project or materially increase the cost of the Tenant Improvements or decrease the functionality of the Tenant Improvements, or (ii) result in the use of materials, systems or components which are not of a materially equivalent or better quality than the materials, systems and components set forth in the Base Building Plans, or in the Lease, or (C) pertain to portions of the Project located outside of the Buildings (provided that Landlord may not reduce the number of parking spaces available for Tenant's use) (collectively, "Landlord Minor Changes"). The Base Building Improvements, as well as the Common Areas (including the so-called "path of travel") will be constructed in a good and workmanlike manner, and in compliance with Applicable Laws for unoccupied space as of the date of Substantial Completion of the Base Building Improvements to the extent required to allow Tenant, subject to the construction of the Tenant Improvements, to obtain a certificate of occupancy or its legal equivalent allowing the legal occupancy of the Premises for the Permitted Use. Within five (5) days after the Substantial Completion of the Base Building Improvements, Landlord and Tenant shall have a "walk-through" of the delivered Premises to jointly create a punch- list setting forth any deviations between the required Base Building Improvements and the actual condition of the Premises (the "Delivery Punch List"). Landlord shall repair or correct the items set forth on the Delivery Punch List within a commercially reasonable period after the date of such walk through. SECTION 2 TENANT IMPROVEMENTS 2.1
Appears in 1 contract
Construction of Base Building Improvements. Landlord shall construct, at its sole cost and expense, in a good workmanlike manner and without deduction from the Tenant Improvement Allowance, the Base Building improvements (the "“Base Building Improvements"”), generally as depicted in Schedule 1-A, attached hereto (the "“Base Building Plans"), including the items set forth in Schedule 1-B (the "Base Building Modifications"”), subject to Landlord Minor Changes, as that term is defined herein below. In the event of a conflict between Schedule 1-A and Schedule 1-B, Schedule 1-A shall prevail. Landlord hereby reserves the right to modify each Base Building Improvements and the Base Building Plans, provided that such modifications (A) are required to comply with Applicable Laws or as a condition of any governmental or other third-party approvals or consents that are required to be obtained in connection with the Base Building ImprovementsLaws, (B) will not (i) materially and adversely affect Tenant's ’s Permitted Use of the Premises and the Project or materially increase the cost of the Tenant Improvements or decrease the functionality of the Tenant Improvements, or (ii) result in the use of materials, systems or components which are not of a materially equivalent or better quality than the materials, systems and components set forth in the Base Building Plans, or in the Lease, or (iii) materially modify the layout, features, amenities, or square footage of the Premises, or (C) pertain to portions of the Project located outside of the Buildings (provided that Landlord may not reduce the number of parking spaces available for Tenant's use) (collectively, "“Landlord Minor Changes"”). All Base Building Improvements, Common Area improvements, and Landlord Minor Changes shall be at Landlord’s expense without reimbursement from Tenant and shall not be charged against the Tenant Improvement Allowance or included in Operating Expenses. The Base Building Improvements, as well as the Common Areas (including the so-called "“path of travel"”) will be constructed in a good and workmanlike manner, and in compliance with Applicable Laws for unoccupied space as of the date of Substantial Completion of the Base Building Improvements Improvements, including without limitation Title 24 and laws enacted under the Americans with Disabilities Act (the “ADA”), to the extent required to allow Tenant, subject to the construction of the Tenant ImprovementsImprovements in accordance with Applicable Laws, to obtain a certificate of occupancy or its legal equivalent allowing the legal occupancy of the Premises for the Permitted Use. Within five (5) days after The parties acknowledge that the Substantial Completion construction of the Base Building Improvements, Landlord and Tenant shall have a "walk-through" of the delivered Premises to jointly create a punch- list setting forth any deviations between the required Base Building Improvements and the actual condition Tenant Improvements will be happening concurrently in order to expedite completion of the Premises as required for Tenant’s occupancy. In the event any legal compliance obligation arises during such combined construction period (whether triggered by Landlord’s or Tenant’s work), for purposes of determining whether Landlord or Tenant is responsible for such legal compliance obligation, it will be assumed that the "Delivery Punch List"Base Building Improvements were completed prior to the Tenant Improvements and any legal compliance obligation that would have been required in connection with the completion of the Base Building Improvements will be Landlord’s responsibility. In the event the Base Building Improvements or Common Areas do not comply with Applicable Laws, and such failure (a) prevents Tenant from obtaining any “Permits,” as defined in Section 3.4, below, (b) prevents Tenant from obtaining a certificate of occupancy or its legal equivalent allowing the legal occupancy of the Premises for the Permitted Use, subject to the construction of the Tenant Improvements in accordance with Applicable Laws, (c) materially affects the safety of Landlord’s or Tenant’s employees or agents at the Project, or creates a material health hazard for Landlord’s or Tenant’s employees or agents at the Project, (d) materially and adversely affect Tenant’s ability to perform its obligations under this Lease, or (e) materially prevents Landlord from constructing the Tenant Improvements, Landlord shall cause the Base Building Improvements or Common Areas, as applicable, to comply with Applicable Laws, at Landlord’s sole cost (which cost will not be charged against the Tenant Improvement Allowance or included in Operating Expenses). Landlord shall repair or correct the items set forth on the Delivery Punch List within a commercially reasonable period after the date of such walk through-59- HCP, INC. SECTION 2 TENANT IMPROVEMENTS 2.1[4930 Director’s Place] [Sorrento Therapeutics, Inc.]
Appears in 1 contract
Sources: Lease (Sorrento Therapeutics, Inc.)