Common use of Target Commencement Date Clause in Contracts

Target Commencement Date. Landlord shall not have any obligation to make any repairs, to construct any improvements or to perform any other work to the Premises other than Landlord’s Work. Landlord shall use commercially reasonable efforts to complete Landlord’s Work and deliver possession of the Premises to Tenant on or before January 15, 2018 (the “Target Commencement Date”). In order to complete Landlord’s Work by such date, Tenant agrees to make all tenant finish selections within five (5) business days following execution of this Lease. If Landlord’s Work is not completed by such date, then the Commencement Date and the Rent Commencement Date (and Tenant’s corresponding obligation to begin paying rent hereunder) shall be delayed on a per day basis for each day until such work is so completed. Such postponement of Term commencement shall be Tenant’s sole and exclusive remedy for Landlord’s failure substantially to complete Landlord’s Work by such date. Tenant may not terminate this Lease on account thereof, nor shall Landlord have any liability to Tenant therefor. If the Commencement Date is so postponed, then the Expiration Date shall be correspondingly extended so that the length of the Term shall remain the number of years indicated in Section 2.1, notwithstanding such delay.