Common use of Punchlist Items Clause in Contracts

Punchlist Items. Within ten (10) days after the date of Substantial Completion, the Tenant’s Architect, in consultation with and at the direction of Landlord’s Representative, shall compile a written list (the “Punchlist”) of items of Leasehold Improvements that must be completed by Tenant to complete the Leasehold Improvements in accordance with the approved final Plans and Specifications (collectively, the “Punchlist Items”). Tenant shall cause the General Contractor to correct or complete all Punchlist Items as soon as reasonably possible, but, in any event, within thirty (30) days following delivery of the Punchlist to Tenant; provided, however, if any of the Punchlist Items are not reasonably susceptible of being corrected or completed within thirty (30) days, the thirty (30) day period shall be extended as reasonably necessary, to allow Tenant to complete such Punchlist Items, provided Tenant commences its efforts promptly and prosecutes the same with due diligence thereafter and any such Punchlist Items do not materially or unreasonably interfere with any other tenant’s or occupant’s use or enjoyment of the Project or violate any License. In all events, Tenant shall cause any and all emergency Punchlist Items (i.e., those involving any threat of imminent damage to persons or property) to be corrected immediately after their discovery. The compilation of, and agreement to, a Punchlist shall not constitute a waiver by Landlord of any of the Tenant’s agreements or other undertakings under the Lease.

Appears in 1 contract

Sources: Lease Agreement (Calamos Asset Management, Inc. /DE/)

Punchlist Items. Within ten Before Tenant takes occupancy of the Premises, but no later than fifteen (1015) days after the date of Substantial CompletionCompletion Date, the Landlord, Landlord’s architect, Tenant and at Tenant’s Architectelection, Tenant’s consulting architect or other construction consultants shall conduct an inspection of the Premises, and work in consultation with and at good faith to jointly prepare a punchlist for the direction of Tenant Improvements. Subject to Landlord’s Representativeobligations for latent defects under Section 8 of the Lease, any items not on such punchlist shall compile a written list (the “Punchlist”) of items of Leasehold Improvements that must be completed deemed accepted by Tenant to complete the Leasehold Improvements in accordance with the approved final Plans and Specifications (collectively, the “Punchlist Items”)Tenant. Tenant Landlord shall cause the General Contractor to correct or complete all Punchlist Items as soon as reasonably possible, but, in any event, punchlist items within thirty (30) days following delivery of after such punchlist items are finally determined, subject to extension due to any Tenant Delay or Force Majeure Delay (as hereinafter defined), it being expressly understood and agreed that to the Punchlist to Tenant; providedextent any punchlist items are not, howeverwith due diligence, if any of the Punchlist Items are not reasonably susceptible of being corrected or completed within said thirty (30) daysday period, then provided that Landlord has promptly commenced and thereafter prosecutes the completion of such punchlist with due diligence to the extent within its reasonable control, then such thirty (30) day period shall be extended as reasonably necessary, to allow Tenant to complete such Punchlist Items, provided Tenant commences its efforts promptly and prosecutes for any additional reasonable period following the same with due diligence thereafter and any such Punchlist Items do not materially or unreasonably interfere with any other tenant’s or occupant’s use or enjoyment removal of the Project or violate any License. In all events, Tenant shall cause any and all emergency Punchlist Items (i.e., those involving any threat of imminent damage to persons or property) to be corrected immediately after their discovery. The compilation ofcondition preventing Landlord from the completion thereof, and agreement to, a Punchlist Landlord shall not constitute a waiver by Landlord be deemed in default hereunder on account of any of the Tenant’s agreements or other undertakings under the Leasesuch delay.

Appears in 1 contract

Sources: Lease (Coleman Cable, Inc.)