Common use of Delivery of Leased Premises Clause in Contracts

Delivery of Leased Premises. LESSOR shall deliver to LESSEE physical possession of the Leased Premises in “as is” condition fit for the use intended on or before the date specified in Annex “A”. Upon delivery of the Leased Premises, LESSEE may commence any and all works necessary to render the Leased Premises suitable for its use in accordance with plans and specifications approved by LESSOR. If LESSOR is unable to transfer physical possession of the Leased Premises to LESSEE on the date specified herein due to (i) the unjustifiable refusal of a prior lessee to vacate the Leased Premises notwithstanding the expiration or termination of the lease agreed upon between such prior lessee and LESSOR, or (ii) any other reason beyond the control of LESSOR, provided, no fault or omission is attributable to LESSOR and provided further that, LESSOR has exerted all efforts and observed due diligence in eliminating the cause of the delay, LESSOR shall not be subject to any liability for its failure to deliver the Leased Premises to LESSEE on the date specified. Neither shall such failure affect the validity of this lease; provided, that the commencement date for the lease, as well as for the rental payments and other payment of LESSEE hereunder, shall be deferred to a date corresponding to the period of delay in the delivery, unless the parties shall mutually agree in writing on another period. If the delay in delivering physical possession of the Leased Premises to LESSEE is attributable to the act or omission of LESSOR: (a) LESSOR shall reimburse LESSEE for any and all costs incurred by LESSEE for or arising from having to take and use another location/site or accommodation during the period of delay; and (b) LESSOR shall pay an interest at two percent (2%) per month on the costs incurred by LESSEE on its fit-out items and equipment. From the agreed hand-over date to the date LESSEE actually takes physical possession of the Leased Premises. The foregoing right of the LESSEE is without prejudice to any other remedy available under this Agreement. If the delay in the delivery exceeds sixty (60) days, LESSEE shall have the option to rescind this Contract without penalty on its part and without need of judicial action, without prejudice to its remedies under this Contract and under the law. LESSOR shall reimburse the costs of any equipment and fit-out items (including without limitation, any importation costs) specifically meant for the Building or for transferring all of LESSEE’s equipment and items to an alternative location, if this Contract is terminated due to act or omission not attributable to LESSEE.

Delivery of Leased Premises. LESSOR shall deliver to LESSEE physical possession of A. Tenant hereby leases the Leased Premises in “on an "as is” condition fit for the use intended on ," "where is" basis without representation or before the date specified warranty, express or implied. Landlord shall have no obligation to construct or install leasehold improvements in Annex “A”. Upon delivery of the Leased Premises, LESSEE may commence any . B. Tenant shall construct or have constructed in a first class and all works necessary workmanlike manner the tenant finish improvements (the "Tenant Finish Work") to render be constructed and installed in the Leased Premises suitable for its use Premises. The Tenant Finish Work shall be constructed in accordance with plans and specifications prepared or caused to be prepared by Tenant, at Tenant's sole cost and expense, and approved in advance, in writing, by LESSORLandlord, such approval not to be unreasonably withheld or delayed. If LESSOR is unable The Tenant Finish Work shall be constructed in accordance with all applicable building laws and ordinances and all covenants, conditions and restrictions affecting the Building. Tenant shall obtain Landlord's written approval of Tenant's bid package prior to transfer physical possession delivering the bid package to prospective contractors, such approval not to be unreasonably withheld or delayed. C. Tenant shall not commence the construction of any portion of the Leased Premises Tenant Finish Work until Landlord has approved, in writing, the contractors who shall perform the Tenant Finish Work, such approval not to LESSEE on be unreasonably withheld or delayed. D. The costs and expenses of installing and constructing the date specified herein due to (i) the unjustifiable refusal of a prior lessee to vacate the Leased Premises notwithstanding the expiration or termination of the lease agreed upon between such prior lessee and LESSOR, or (ii) any other reason beyond the control of LESSOR, provided, no fault or omission is attributable to LESSOR and provided further that, LESSOR has exerted all efforts and observed due diligence in eliminating the cause of the delay, LESSOR Tenant Finish Work shall not be subject to any liability for its failure to deliver the Leased Premises to LESSEE on the date specified. Neither shall such failure affect the validity of this leaseborne solely by Tenant; provided, however that Landlord shall provide to Tenant an allowance (the commencement date for the lease, as well as for the rental payments and other payment of LESSEE hereunder, shall be deferred to a date corresponding "Tenant Finish Allowance") with respect to the period of delay in the delivery, unless the parties shall mutually agree in writing on another period. If the delay in delivering physical possession construction of the Leased Premises to LESSEE is attributable Tenant Finish Work in an amount equal to the act or omission product of LESSOR: Three and No/100 Dollars (a$3.00) LESSOR shall reimburse LESSEE for any and all costs incurred multiplied by LESSEE for or arising from having to take and use another location/site or accommodation during the period number of delay; and (b) LESSOR shall pay an interest at two percent (2%) per month on the costs incurred by LESSEE on its fit-out items and equipment. From the agreed hand-over date to the date LESSEE actually takes physical possession rentable square feet of area located in the Leased Premises. The foregoing right Tenant Finish Allowance shall be disbursed to Tenant within thirty (30) days following (a) the completion of the LESSEE is without prejudice Tenant Finish Work, as reasonably determined by a representative of Landlord, and (b) Tenant's delivery to any other remedy available under this Agreement. If Landlord of the delay in the delivery exceeds sixty (60) days, LESSEE shall paid bills or invoices for such work and final unconditional releases or waivers of mechanic's and materialmen's liens from all parties who have the option to rescind this Contract without penalty on its part and without need of judicial action, without prejudice to its remedies under this Contract and under the law. LESSOR shall reimburse the costs furnished materials or services or performed labor of any equipment kind in connection with the Tenant Finish Work. A construction management fee equal to five percent (5%) of the cost of the Tenant Finish Work shall be deducted from the Tenant Finish Allowance and fit-out items (including without limitationpaid to Landlord's designated construction manager. Tenant shall be entitled only to that portion of the Tenant Finish Allowance which is evidenced by paid bills or invoices for Tenant Finish Work actually performed by third parties, and any importation costs) specifically meant for unused portion of the Building or for transferring all Tenant Finish Allowance as of LESSEE’s equipment the Commencement Date shall be the sole and items to an alternative location, if this Contract is terminated due to act or omission not attributable to LESSEEexclusive property of Landlord.

Delivery of Leased Premises. LESSOR Subject to Unavoidable Delay (as hereinafter defined in Section 4.4 hereof) and any reasons attributable to the Tenant, including without limitation, any changes requested to the Landlord’s Work by the Tenant as contemplated in this Lease and any delay due to the installation of the generator or UPS unities referred to in Section 8.3A hereof, the Landlord shall deliver to LESSEE physical possession of the Leased Premises in “as is” condition fit for the use intended on or before the date specified in Annex “A”. Upon delivery of the Leased Premises, LESSEE may commence any and all works necessary to render the Leased Premises suitable for its use in accordance with plans and specifications approved by LESSOR. If LESSOR is unable to transfer physical possession of the Leased Premises to LESSEE the Tenant substantially completed with the Landlord’s Work as set forth in Schedules “Bl” (said Schedule “B-1” work shall be in accordance with applicable laws then in force at the time of the Delivery Date and will be carried out using new materials) and the Tenant’s Fit-Up as per the Tenant’s final plans and specifications (as approved by the Landlord), the whole as certified by the Landlord’s Architect, on or before the date specified herein due to (i) Delivery Date. For the unjustifiable refusal of a prior lessee to vacate purposes hereof, “substantial completion” shall mean that the Leased Premises notwithstanding are sufficiently completed to enable the expiration or termination Tenant to install its equipment and furniture for purposes of the lease agreed upon between such prior lessee and LESSOR, or (ii) any other reason beyond the control of LESSOR, provided, no fault or omission is attributable to LESSOR and provided further that, LESSOR has exerted all efforts and observed due diligence commencing its activities in eliminating the cause of the delay, LESSOR shall not be subject to any liability for its failure to deliver the Leased Premises to LESSEE on (without limiting the date specifiedgenerality of the foregoing, all mechanical and electrical systems will be completed and operational, all walls will be erected and painted). Neither shall such failure affect Upon the validity of this lease; provided, that the commencement date for the lease, as well as for the rental payments and other payment of LESSEE hereunder, shall be deferred to a date corresponding to the period of delay in the delivery, unless the parties shall mutually agree in writing on another period. If the delay in Landlord delivering physical possession of the Leased Premises to LESSEE the Tenant as set out in this Section 4.2, the Tenant shall have the right to verify that the Landlord’s Work and the Tenant’s Fit-Up are complete and the Tenant shall have thirty (30) days from the date possession is attributable given to it to inspect the Leased Premises and provide the Landlord with a list of deficiencies within thirty (30) days with respect to the act or omission of LESSOR: (a) LESSOR Landlord’s Work and the Tenant’s Fit-Up, failing which the Tenant shall reimburse LESSEE for any and all costs incurred by LESSEE for or arising from having be deemed to take and use another location/site or accommodation during the period of delay; and (b) LESSOR shall pay an interest at two percent (2%) per month on the costs incurred by LESSEE on its fit-out items and equipment. From the agreed hand-over date to the date LESSEE actually takes physical possession of have accepted the Leased Premises. The foregoing right If the Tenant delivers up a list of deficiencies as aforesaid and provided that the LESSEE Landlord, acting reasonably, is without prejudice to any other in agreement with such list, the Landlord shall remedy available under this Agreementsuch deficiencies within a reasonable time and in good and workmanlike manner. If the delay in Landlord fails to remedy such deficiencies within a reasonable time, the delivery exceeds sixty Tenant, after giving the Landlord a prior written notice of not less than thirty (6030) daysdays and provided that the Landlord fails within such thirty (30) day period to commence to remedy the same, LESSEE shall have may, acting reasonably, repair such deficiencies and the option to rescind this Contract without penalty on its part and without need of judicial action, without prejudice to its remedies under this Contract and under the law. LESSOR Landlord shall reimburse the costs of any equipment and fitTenant for all reasonable direct out-out items of-pocket expenses incurred to repair such deficiencies. Concerning the HVAC, the thirty (including without limitation, any importation costs30) specifically meant day delay for the Building Tenant to inspect said system will only commence when the system is started up as confirmed by the Landlord to the Tenant. The above provisions shall not diminish any guarantee from suppliers or for transferring all professionals who were retained by the Landlord and which guarantee was given to the Landlord in reference to the construction of LESSEEthe Landlord’s equipment and items to an alternative location, if this Contract is terminated due to act Work or omission not attributable to LESSEEthe Tenant’s Fit-Up.