Common use of Shell Improvements Clause in Contracts

Shell Improvements. Landlord (a) shall construct the “Shell Improvements” described on Exhibit E and (b) shall complete construction of the parking areas, sidewalks, drive aisles, landscaping and other common area improvements (collectively, the “Site Improvements”). Shell Improvements and Site Improvements are collectively referred to herein as the “Landlord’s Work.” Landlord shall commence and diligently prosecute to completion the Landlord’s Work such that the below Milestones are timely achieved. Except as specifically set forth in Section 2.4 below, Landlord shall not be liable for a failure to deliver possession of the Premises by the applicable Milestone Dates set forth below and (a) the validity of this Lease shall not be affected or impaired thereby, (b) Landlord shall not be in default hereunder or be liable for damages therefor, and (c) Tenant shall accept possession of the Premises when Landlord tenders possession thereof to Tenant. Landlord shall provide Tenant with regular updates as to the progress of completion of the Landlord’s Work and the below Milestones, as well as reasonably satisfactory evidence of completion of each Milestone (as set forth below). As long as Tenant leases the entire Premises, Landlord shall not construct any other improvements on the Land other than the Landlord’s Work, without the prior written consent of Tenant, such consent not to be unreasonably withheld, conditioned or delayed.

Appears in 2 contracts

Sources: Office Lease (YETI Holdings, Inc.), Office Lease (YETI Holdings, Inc.)