Common use of Premises and Common Areas Leased Clause in Contracts

Premises and Common Areas Leased. By taking possession of the Premises for the purpose of conducting its business therein, Tenant accepts the Tenant Improvements as completed or as substantially completed, and in the latter case, Landlord's and Tenant's construction representatives shall compile a list of incomplete and/or corrective items, and Landlord shall complete and/or correct such items within thirty (30) days following completion of such list; provided, however, in the event that a longer period of time is reasonably required for the completion and correction of any such item, Landlord shall proceed with due diligence to complete and/or correct such item as soon as reasonably possible. Tenant acknowledges that the Site Plan is conceptual only with respect to those portions of the Development which have not yet been constructed, and that Landlord shall have no obligation to construct or complete any additional buildings or improvements to the Common Areas (as hereinafter defined) or in any way further develop or improve the Development.

Appears in 2 contracts

Sources: Sublease (Litronic Inc), Sublease (Litronic Inc)