Possession and Acceptance Clause Samples

Possession and Acceptance. (a) Promptly following the tendering of possession of premises to Lessee by Lessor following completion of the improvements reflected on Exhibit "B", Lessee agrees to proceed with all due diligence on the installation of its fixtures and equipment as soon thereafter as is reasonably possible. Anything to the contrary herein contained notwithstanding, Lessee's tenancy hereunder shall commence on the date of tendering of possession by lessor to Lessee after the improvements reflected on Exhibit "B" has been made. Upon completion of the Leased Premises and other improvements in accordance with the plans and specifications, Lessee agrees to accept delivery of the premises and to execute and deliver to Lessor a letter of acceptance accepting delivery of the Leased Premises. If Lessee shall not have commenced to occupy the Premises for the Permitted Uses immediately after they have been deemed ready for occupancy, a certificate of completion by a licensed architect shall be conclusive evidence that Lessor has performed all such obligationsu under this Agreement. (b) If Lessor, for any reason or cause beyond its reasonable control, cannot deliver possession of the Leased Premises to Lessee within thirty (30) days after September 1, 1994, the Lessor shall pay Lessee a penalty equal to one days rent for each day Lessee cannot take possession to a maximum or ninety (90) days. At the end of the ninety (90) day period Lessee may void this Lease. The term of this Lease shall be extended by such delay. Lessee and Lessor shall execute a Lease modification to alter the effective date of the Lease. Lessor will permit Lessee access for installing equipment and furnishings in the premises prior to the Term when it can be done without material interference with remaining work and provided Lessee cooperates with Lessor and its contractors. (c) By execution hereunder and occupancy, should the Leased Premises be already complete and improved, Lessor acknowledges that it has examined the Leased Premises and accepts them "as is" and as being in the condition and improved as called for by this Lease.
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Possession and Acceptance 
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Related to Possession and Acceptance

  • Inspection and Acceptance Where the Master Agreement, a Participating Addendum, or an Order does not otherwise specify a process for inspection and Acceptance, this section governs. This section is not intended to limit rights and remedies under the applicable commercial code. Contractor shall provide right of access to the Lead State, or to any other authorized agent or official of the Lead State or other Participating or Purchasing Entity, at reasonable times, in order to monitor and evaluate performance, compliance, and quality assurance requirements under this Master Agreement. Upon delivery, the Purchasing Entity shall have 30 days to inspect. Products that do not meet specifications may be rejected. Failure to reject upon receipt, however, does not relieve the contractor of liability for material (nonconformity that substantially impairs value) latent or hidden defects subsequently revealed when goods are put to use. Acceptance of such goods may be revoked in accordance with the provisions of the applicable commercial code, and the Contractor is liable for any resulting expense incurred by the Purchasing Entity related to the preparation and shipping of Product rejected and returned, or for which Acceptance is revoked. If any services do not conform to contract requirements, the Purchasing Entity may require the Contractor to perform the services again in conformity with contract requirements, at no increase in Order amount. When defects cannot be corrected by re-performance, the Purchasing Entity may require the Contractor to take necessary action to ensure that future performance conforms to contract requirements; and reduce the contract price to reflect the reduced value of services performed. The warranty period shall begin upon Acceptance. The Purchasing Entity will make every effort to notify the Contractor, within thirty (30) calendar days following delivery, of non-acceptance of a Product or completion of Service. In the event that the Contractor has not been notified within 30 calendar days from delivery of Product or completion of Service, the Product and Services will be deemed accepted on the 31st day after delivery of Product or completion of Services. This clause shall not be applicable, if acceptance testing and corresponding terms have been mutually agreed to by both parties in writing. Acceptance Testing may be explicitly set out in a Master Agreement to ensure conformance to an explicit standard of performance. Acceptance Testing means the process set forth in the Master Agreement for ascertaining that the Product meets the standard of performance prior to Acceptance by the Purchasing Entity. If Acceptance Testing is prescribed, this subsection applies to applicable Products purchased under this Master Agreement, including any additional, replacement, or substitute Product(s) and any Product(s) which are modified by or with the written approval of Contractor after Acceptance by the Purchasing Entity. The Acceptance Testing period shall be thirty (30) calendar days or other time period identified in this Master Agreement or the Participating Addendum, starting from the day after the Product is delivered or, if installed, the day after the Product is installed and Contractor certifies that the Product is ready for Acceptance Testing. If the Product does not meet the standard of performance during the initial period of Acceptance Testing, Purchasing Entity may, at its discretion, continue Acceptance Testing on a day-to-day basis until the standard of performance is met. Upon rejection, the Contractor will have fifteen (15) calendar days to cure the standard of performance issue(s). If after the cure period, the Product still has not met the standard of performance, the Purchasing Entity may, at its option: (a) declare Contractor to be in breach and terminate the Order; (b) demand replacement Product from Contractor at no additional cost to Purchasing Entity; or, (c) continue the cure period for an additional time period agreed upon by the Purchasing Entity and the Contractor. Contractor shall pay all costs related to the preparation and shipping of Product returned pursuant to the section. No Product shall be deemed Accepted and no charges shall be paid until the standard of performance is met. The warranty period shall begin upon Acceptance.

  • Appointment and Acceptance The Trust hereby appoints the Distributor as a distributor of shares of beneficial interest in the Trust (the “shares”) which may from time to time be registered under the 1933 Act and as servicing agent of shareholders and shareholder accounts of the Trust, and the Distributor hereby accepts such appointment in accordance with the terms and conditions set forth herein. As the Trust’s agent, the Distributor shall, except to the extent provided in Section 4 hereof, be the exclusive distributor for the unsold portion of the shares.

  • Assignment and Acceptance The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance, together with a processing and recordation fee of $3,500, and the assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

  • Inspection and Acceptance of Commodities The services provided by Contractor are not anticipated to include the provision of commodities. In the event commodities are offered under this contract, these provisions shall apply.

  • ACKNOWLEDGEMENT AND ACCEPTANCE I acknowledge receipt of this User Agreement. I understand and accept all terms and conditions of this User Agreement, and I will comply with the terms and conditions of this agreement and any additional VA warning banners, directives, handbooks, notices, or directions regarding access to or use of information systems or information. The terms and conditions of this document do not supersede the terms and conditions of the signatory’s employer and VA.