Failure to Achieve Substantial Completion Clause Samples
The 'Failure to Achieve Substantial Completion' clause defines the consequences and procedures that apply when a contractor does not finish a project or a specified portion of work by the agreed-upon substantial completion date. Typically, this clause outlines the steps the owner may take, such as assessing liquidated damages, withholding payments, or arranging for the remaining work to be completed by others at the contractor’s expense. Its core function is to incentivize timely project completion and provide a clear framework for addressing delays, thereby protecting the owner from extended project timelines and associated costs.
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Failure to Achieve Substantial Completion. If Substantial Completion of the Shell Improvements does not occur by August 1, 2009 for any reason other than a delay caused by Tenant (a “Tenant Delay”) or Force Majeure, Tenant shall be entitled to a rent abatement equal to two (2) days of base rent plus additional rent applicable to the Premises for each day after September 1, 2009 that the Substantial Completion of the Shell Improvements does not occur. If the Substantial Completion of the Shell Improvements does not occur by September 1, 2009 for any reason (including Force Majeure) other than a Tenant Delay, Tenant shall be entitled to elect by written notice delivered to Landlord at any time prior to the Substantial Completion of the Shell Improvements to cause the Substantial Completion of the Shell Improvements to occur, at Landlord’s sole cost and expense, in which event (i) Tenant shall cause the portion of the Shell Improvements constructed by Tenant to be constructed in a good and workmanlike manner, in compliance with all applicable laws and in substantial accordance with Exhibit B-1, using only new quality materials, and (ii) Tenant shall have the right to offset all costs incurred by Tenant in so achieving Substantial Completion of the Shell Improvements against any and all amounts of the base rent and additional rent payable by Tenant under the Lease for the entire Premises until Tenant is reimbursed in full.
Failure to Achieve Substantial Completion. If Landlord has not achieved Substantial Completion (as further defined and described in Exhibit D) of the Base Building Work, pursuant to Section 2.7 of Exhibit D, by March 1, 2019 (the “Outside Completion Date”), as such date is extended due to Landlord’s Unavoidable Delay (as defined in Exhibit D) and Landlord’s failure causes a delay in Tenant’s completion of Tenant’s Improvement Work (approved by Landlord as set forth in Exhibit D) resulting in delay in Tenant’s occupancy of the Premises past September 4, 2019, (a) the validity of this Lease and the obligations of Tenant under this Lease shall not be affected by any such delay, (b) Tenant shall have no claim against Landlord arising out of Landlord’s failure to achieve Substantial Completion, and (c) Tenant’s sole remedy shall be Tenant’s receipt of a credit of one (1) additional day free Base Rent for every day from the Outside Completion Date to the date Landlord achieves Substantial Completion of the Base Building Work. By way of example, if Landlord achieves Substantial Completion twenty-five (25) days after the Outside Completion Date, then the Rental Abatement Period, as defined in Section 6.2 below, shall increase by twenty-five (25) days.
Failure to Achieve Substantial Completion. If Landlord has not achieved Substantial Completion of all Base Building Work by July 1, 2018 (the “Outside Completion Date”), as such date is extended due to Landlord’s Unavoidable Delay (as defined in Exhibit D), Tenant, as its sole remedy, shall have the right to terminate this Lease by delivering to Landlord a termination notice within ten (10) days after the Outside Completion Date, which shall be effective thirty (30) days after receipt by Landlord; provided, however, that this Lease shall not terminate if within such 30-day period the Base Building Work is Substantially Completed.
Failure to Achieve Substantial Completion. If Substantial Completion is not achieved by December 31, 2024; or
Failure to Achieve Substantial Completion. Except to the extent excused due to the occurrence of Uncontrollable Circumstances, the failure of the Design-Builder to achieve Substantial Completion prior to the end of the Extension Period;
Failure to Achieve Substantial Completion. In the event Lessor fails to achieve Substantial Completion of the Base Improvements and/or the Tenant Improvements by the Substantial Completion Deadline (including any authorized extensions of time pursuant to this Work Letter), Lessee may exercise any or all of the following remedies, in addition to any other remedies provided at law or in equity.