Common use of Time not of the essence Clause in Contracts

Time not of the essence. If Landlord is unable to give possession of the Premises on the Commencement Date, for any reason whatsoever, Landlord shall not be subject to any liability for said failure and the validity of this Lease shall not be impaired under such circumstances, nor shall the same be construed in any way to extend the term of this Lease. If the Premises are delivered after the Commencement Date, the Base Rent and Additional Rent payable hereunder shall be abated (provided Tenant is not responsible for the inability to obtain possession) until Landlord has given a second notice to Tenant that the Premises are ready for Tenant's occupancy. If Landlord shall give Tenant permission to enter into the possession of the Premises prior to the Commencement Date, such possession or occupancy shall be deemed to be upon all the terms, covenants, conditions, and provisions of this Lease including the execution of an estoppel certificate.

Appears in 2 contracts

Sources: Lease Agreement (Registry Magic Inc), Lease Agreement (Registry Magic Inc)