BUILDING TO BE CONSTRUCTED OR SHELL SPACE Clause Samples

BUILDING TO BE CONSTRUCTED OR SHELL SPACE. If the Premises or a major portion thereof is to be constructed, the commencement date shall be deemed to be the date upon which the Premises and other improvements to be erected in accordance with the plans and/or specifications described in Paragraph 26C and on Exhibit "B" attached hereto and incorporated herein by reference (the "Plans") have been substantially completed. As used herein, the term "substantially completed" shall mean, that in the reasonable opinion of Lessor, such improvements have been completed in accordance with the Plans and, the Premises are in good and satisfactory condition, subject only to completion of minor punch list items. As soon as such improvements have been substantially completed, Lessor shall notify Lessee in writing that the commencement date has occurred. Within twenty (20) days thereafter, Lessee shall submit to Lessor in writing a punch list of items needing completion or correction. Lessor shall use reasonable efforts to complete such items within thirty (30) days after the receipt of such notice. In the event Lessee, its employees, agents or contractors cause construction of such improvements to be delayed, the commencement date shall be deemed to be the date that, in the opinion of the architect or space planner that prepared the Plans, substantial completion would have occurred if such delays had not taken place. The taking of possession by Lessee shall be deemed to conclusively establish that the buildings and other improvements had been completed in accordance with tile Plans, that the Premises are n good and satisfactory condition as of when possession was taken, and that Lessee has accepted such buildings and other improvements "AS IS," "WHERE IS," and "WITH ALL FAULTS" (except any latent defects) without representation or warranty from Lessor. Upon Lessor's request, Lessee shall execute and deliver to Lessor a Letter of Acceptance of delivery of the Premises. Notwithstanding anything in the Lease to the contrary, if the Plans are not attached to this Lease as Exhibit "B", Lessor will deliver the Plans to Lessee which in Lessor's opinion are reasonably necessary for the construction and space planning of the buildings or improvements contemplated to be constructed on the Premises.