Possession and Commencement Date Clause Samples
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Possession and Commencement Date. 4.1. Landlord shall use commercially reasonable efforts to tender possession of the Premises to Tenant on the Estimated Term Commencement Date, with the light laboratory base Building improvements described in Exhibit B-2 (the “Landlord’s Work”) Substantially Complete (as defined below). Tenant agrees that in the event such Landlord’s Work is not Substantially Complete on or before the Estimated Term Commencement Date for any reason, then (a) this Lease shall not be void or voidable, (b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and (c) the Rent Commencement Date shall be extended accordingly. The term “Substantially Complete” or “Substantial Completion” in relation to Landlord’s Work means that the Landlord’s Work is substantially complete, as reasonably determined by Landlord’s architect, except for minor punch list items, as applicable. Notwithstanding anything in this Lease (including the Work Letter attached hereto as Exhibit B (the “Work Letter”)) to the contrary, (y) Landlord’s obligation to timely achieve Substantial Completion shall be subject to extension on a day-for-day basis as a result of Force Majeure (as defined below) or a Tenant Delay (as defined below) and (z) if there has been no Force Majeure or Tenant Delay and Landlord fails to deliver the Premises to Tenant with Landlord’s Work Substantially Complete (i) on or before the date that is forty-five (45) days after the Estimated Term Commencement Date, Base Rent shall be abated one (1) day for each day after the Estimated Term Commencement Date and before the Abatement Increase Deadline (as defined below) that Landlord fails to deliver the Premises to Tenant with Landlord’s Work Substantially Complete and (ii) on or before the date that is ninety (90) days after the Estimated Commencement Date (the “Abatement Increase Deadline”), Base Rent shall be abated two (2) days for each day after the Abatement Increase Deadline that Landlord fails to deliver the Premises with Landlord’s Work Substantially Complete.
Possession and Commencement Date. 4.1. Landlord shall use commercially reasonable efforts to tender possession of the Premises to Tenant on the Estimated Term Commencement Date, with the work (the ‘‘Tenant Improvements”) required of Landlord described in the Work Letter attached hereto as Exhibit B (the “Work Letter’’) Substantially Complete (as defined below). Tenant agrees that in the event such work is not Substantially Complete on or before the Estimated Term Commencement Date for any reason, then (a) this Lease shall not be void or voidable, (b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, (c) the Term Commencement Date and Term Expiration Date shall be extended accordingly and (d) Tenant shall not be responsible for the payment of any Base Rent or Tenant’s Share of Operating Expenses (as defined below) until the actual Term Commencement Date as described in Section 4.2 occurs. The term “Substantially Complete” or “Substantial Completion” means that (y) the Tenant Improvements are substantially complete in accordance with the Approved Plans (as defined in the Work Letter), except for minor punch list items that will not materially adversely affect Tenant’s normal operations in the Premises, and (z) a certificate of occupancy or temporary certificate of occupancy has been issued by the applicable governmental agencies to occupy the Premises or the applicable governmental agencies have otherwise signed off permitting the Premises to be occupied. Notwithstanding anything in this Lease (including the Work Letter) to the contrary, Landlord’s obligation to timely achieve Substantial Completion shall be subject to extension on a day-for-day basis as a result of Force Majeure (as defined below).
Possession and Commencement Date. 4.1. Landlord shall provide access to the Premises to Tenant on the Execution Date, provided that Tenant acknowledges that the work required of Landlord to complete the core and shell of the Building in accordance with the plans and specifications (the “Base Building Plans”) for the base building listed in Exhibit B-1 attached hereto (the “Landlord’s Work”) shall not be completed as of the Execution Date or the Actual Access Date (defined below). As of the Execution Date, Landlord has Substantially Completed (defined below) the portion of Landlord’s Work described in Section 1 of Exhibit B-4, and Landlord shall use commercially reasonable efforts to cause the portion of Landlord’s Work described in Section 2 of Exhibit B-4 (the “Interim Work”) to be Substantially Complete by May 1, 2014. Landlord’s Work is more particularly described in Exhibit B-6, provided that in the event of a conflict between Exhibit B-6 and the Base Building Plans, the Base Building Plans shall govern and control. The date on which Landlord Substantially Completes the Interim Work is the “Actual Access Date.” In the event that the Actual Access Date has not occurred by May 1, 2014, then (a) this Lease shall not be void or voidable and (b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, except that the Rent Commencement Date shall be delayed by one (1) day for each day after the Estimated Term Commencement Date that Tenant is unable to commence operating its business in the Premises solely as a result of Landlord’s failure to Substantially Complete the Interim Work on or before May 1, 2014 (provided that such day-for-day abatement of the Rent Commencement Date shall not exceed the number of days between May 1, 2014 and the Actual Access Date). Landlord may make revisions to the Base Building Plans from time to time, and any change to the Approved Plans required as a result of the revisions to the Base Building Plans shall constitute a Change (as defined in Exhibit B-2 hereto (the “Work Letter”)).
Possession and Commencement Date. 4.1. Landlord shall tender possession of the Premises within one (1) business day after the Effective Date. Landlord agrees to use commercially reasonable efforts to complete Landlord’s Work (as defined below) within one hundred twenty (120) days after building permits are obtained for the improvements to be made to the Premises in accordance with this Lease. Tenant agrees that in the event Landlord’s Work is not Substantially Complete (as defined below) within such one hundred twenty (120) day period after the Effective Date, then this Lease shall not be void or voidable and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom. If Landlord fails to timely achieve Substantial Completion of Landlord’s Work for any reason whatsoever, then Landlord shall have no liability to Tenant for such failure,
Possession and Commencement Date. 4.1 Landlord shall tender possession of the Premises to Tenant on the Term Commencement Date.
4.2 Failure by Tenant to obtain validation by any medical review board or validation of the Premises for Tenant’s intended use by State or Federal FDA shall not serve to extend the Term Commencement Date.
4.3 [Intentionally omitted].
4.4 Possession of areas of the Premises necessary for utilities, services, safety and operation of the Building is reserved to Landlord.
Possession and Commencement Date. 4.1. Landlord shall tender possession of the Demised Premises to Tenant on the Effective Date.
4.2. The "Term Commencement Date" shall be the Effective Date.
4.3. [Intentionally omitted.]
4.4. Access to and non-exclusive possession of areas necessary for utilities, services, safety and operation of the Building and the Project is reserved to Landlord.
Possession and Commencement Date. The “Term Commencement Date” shall be the later of (a) December 17, 2019, and (b) the date upon which the Sublessor (as defined in Section 3.3) vacates and abandons all rights to the Premises and the Sublessor’s lease is of no force or effect. Upon request by Landlord and delivery to Tenant of an unexecuted, but completed, copy of the form attached hereto as Exhibit C, Tenant shall execute and deliver to Landlord written acknowledgment of the actual Term Commencement Date, the Rent Commencement Date and the Term Expiration Date within ten (10) days of such request. Failure to execute and deliver such acknowledgment, however, shall not affect the Term Commencement Date, the Rent Commencement Date, the Term Expiration Date or Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain validation by the Food and Drug Administration, any medical review board, health department, liquor control board or other similar governmental licensing of the Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date.
Possession and Commencement Date. If at the Commencement Date of this Concession Lease Concessionaire ▇▇▇▇▇▇’s Premises hereunder are not ready to be occupied, then the Rent provisions of Section 4 of this Concession Lease and other performance obligations hereunder shall not take effect until City can give possession of the Premises to Concessionaire Tenant. City and Concessionaire Tenant may enter a Letter Agreement signed by both parties describing additional terms that may apply during the Transition Period. Concessionaire Tenant will promptly take possession of the Premises upon receiving City’s notice instructing Concessionaire Tenant to relocate, and by doing so, Concessionaire Tenant relinquishes any and all rights in any City property previously used by Concessionaire Tenant that is not a part of the Premises under this Concession Lease.
Possession and Commencement Date. 4.1 Landlord shall tender possession of the Premises in a vacant and clean condition, with the Building systems in good working order and in compliance with the Americans with Disabilities Act, 42 U.S.C. § 12101, et seq. (together with regulations promulgated pursuant thereto, the “ADA”), as of the Term Commencement Date; provided, however, that Landlord shall provide a Phase 1 environmental analysis of the Premises to Tenant, no later August 15, 2006, and Tenant shall have the right to access the Premises beginning August 1, 2006, solely for the purposes of (a) monitoring construction of the Tenant Improvements (as defined below) and (b) installing furniture, computer and fiber networks, telecommunications equipment and other personal property permitted by this Lease.
4.2 [Intentionally omitted]
4.3 Prior to entering upon the Premises, Tenant shall furnish to Landlord evidence satisfactory to Landlord that insurance coverages required of Tenant under the provisions of Section 21 are in effect, and such entry shall be subject to all the terms and conditions of this Lease other than the payment of Basic Annual Rent or Additional Rent (as defined below).
4.4 Possession of areas of the Premises necessary for utilities, services, safety and operation of the Building is reserved to Landlord.
4.5 Tenant shall cause to be constructed the tenant improvements in the Premises (the “Tenant Improvements”) pursuant to the Work Letter at a cost to Landlord (the “Tenant Improvement Allowance”) not to exceed Fifty Thousand Seven Hundred Sixty and 00/100 Dollars ($50,760.00) (based upon Seven and 50/100 Dollars ($7.50) per usable square foot), which amount shall include the costs of (a) construction, (b) project management by Landlord (which fee shall not exceed four percent (4%) of the Tenant Improvement Allowance and Additional TI Allowance (as defined below)), (c) space planning, architect, engineering and other related services and (d) building permits and other planning and inspection fees. If the total cost of the Tenant Improvements exceeds the sum of the Tenant Improvement Allowance, then Landlord shall make available the Additional TI Allowance in accordance with this Lease, and Tenant shall pay any amount in excess of the Tenant Improvement Allowance and Additional TI Allowance when due. Tenant shall have until March 31, 2007, to expend the unused portion of the Tenant Improvement Allowance and Additional TI Allowance, after which date Landlord’s obligation to fu...
Possession and Commencement Date. Sections 4.1 and 4.3 of the Lease are hereby deleted, each in its entirety, and replaced with the following:
4.1 Landlord has delivered to Tenant, broom clean and free of occupants, and Tenant has accepted possession of, the Premises as of the date hereof. Landlord represents and warrants to Tenant that, as of the date hereof, the heating, ventilation and air-conditioning (“HVAC”), electrical, life safety and plumbing systems of the Building are in good working condition and, to the best of Landlord’s knowledge, not in violation of Applicable Laws applicable to office and laboratory use, generally. Tenant shall undertake its Tenant Improvements and occupy the Premises for the conduct of its business in two (2) phases (with the second phase being subdivided into two (2) additional phases). The “Phase 1