Common use of Completion and Delivery Clause in Contracts

Completion and Delivery. (a) If, in accordance with Section 2.1, no Tenant Improvements are required for the Premises, the Premises shall be deemed delivered and ready for Tenant’s occupancy (“Ready for Occupancy”) on the Term Commencement Date defined in the Basic Lease Information. (b) If Tenant Improvements are required for the Premises, the Premises shall be deemed Ready for Occupancy when the Tenant Improvements have been Substantially Completed (as hereafter defined). The term “Substantially Completed” when used in this Lease shall mean the earlier of (i) the date of issuance of a certificate of occupancy (temporary or permanent) for the Premises by the municipality in which the Premises are located, (ii) or if no certificate of occupancy is required, the date when Landlord’s architect or general contractor certifies that the Tenant Improvements are Substantially Completed, which certification shall be conclusive and binding upon Landlord and Tenant, or (iii) the date on which Tenant takes possession of the Premises. The Tenant Improvements shall be deemed Substantially Completed notwithstanding the fact that minor details of construction, mechanical adjustments or decorations (items normally referred to as “punch list” items) which do not materially interfere with Tenant’s use of the Premises (as determined by Landlord in the exercise of its reasonable judgment) remain to be performed in accordance with the Work Agreement. Landlord shall give Tenant reasonable advance notice of the date on which Landlord expects the Tenant Improvements to be Substantially Completed and the Premises to be Ready for Occupancy.

Completion and Delivery. (a) If, in accordance with Section 2.1, no Tenant Improvements are required for the Premises, the Premises shall be deemed delivered and ready for Tenant’s occupancy (“Ready for Occupancy”) on the Term Commencement Date defined in the Basic Lease Information. (b) If Tenant Improvements are required for the Premises, the Premises shall be deemed Ready for Occupancy when the Tenant Improvements have been Substantially Completed (as hereafter defined). The term “Substantially Completed” when used in this Lease shall mean the earlier of (i) the date of issuance of a certificate of occupancy (temporary or permanent) for the Premises by the municipality in which the Premises are located, (ii) or if no certificate of occupancy is required, the date when Landlord’s architect or general contractor certifies that the Tenant Improvements are Substantially Completed, which certification shall be conclusive and binding upon Landlord and Tenant, or (iii) the date on which Tenant Xxxxxx takes possession of the Premises. The Tenant Improvements shall be deemed Substantially Completed notwithstanding the fact that minor details of construction, mechanical adjustments or decorations (items normally referred to as “punch list” items) which do not materially interfere with Tenant’s use of the Premises (as determined by Landlord in the exercise of its reasonable judgment) remain to be performed in accordance with the Work Agreement. Landlord shall give Tenant reasonable advance notice of the date on which Landlord expects the Tenant Improvements to be Substantially Completed and the Premises to be Ready for Occupancy.

Completion and Delivery. The Improvements shall be deemed completed when: (a) If, All work of construction has been substantially completed in accordance with Section 2.1the Approved Plans and Specifications, no Tenant Improvements are required for subject to normal minor so-called "Punch-list Items" (defined below) agreed to after an inspection by Lessor and Lessee, with a maximum aggregate value of $25,000.00, exclusive of landscaping, which may be completed after the Premises, the Premises shall be deemed delivered and ready for Tenant’s occupancy (“Ready for Occupancy”) on the Term Commencement Date defined in the Basic Lease InformationDate. (b) If Tenant The architect or engineer in charge of construction of the Improvements are required for has prepared, certified by his signature and delivered to Lessor and Lessee a written statement certifying that the Premises, the Premises shall be deemed Ready for Occupancy when the Tenant Improvements have been Substantially Completed (as hereafter defined). The term “Substantially Completed” when used completed in this Lease shall mean accordance with the earlier of (i) Approved Plans and Specifications, the working drawings and any properly authorized construction changes, and certifying the date of such completion: and (c) A temporary or permanent certificate of occupancy for the Building has been delivered to Lessee. Notwithstanding the foregoing, if issuance of a certificate of occupancy is delayed by reason of Lessee's work, the Term of this Lease shall commence upon substantial completion of Lessor's work, as provided in subparagraphs (temporary or permanenta) for and (b) above, and the Premises by the municipality certificate of occupancy shall be obtained thereafter upon completion of Lessee's work. Lessor shall diligently complete any Punch-List Items as soon as reasonably possible. "Punch-List Items," as used herein, shall refer to minor, non-structural repairs and/or minor, non-structural replacement of work not installed (i) in which the Premises are located, a workmanlike manner and/or (ii) or if no certificate of occupancy is required, the date when Landlord’s architect or general contractor certifies that the Tenant Improvements are Substantially Completed, which certification shall be conclusive and binding upon Landlord and Tenant, or (iii) the date on which Tenant takes possession of the Premises. The Tenant Improvements shall be deemed Substantially Completed notwithstanding the fact that minor details of construction, mechanical adjustments or decorations (items normally referred to as “punch list” items) which do not materially interfere with Tenant’s use of the Premises (as determined by Landlord in the exercise of its reasonable judgment) remain to be performed in accordance with the Work AgreementApproved Plans and Specifications. Landlord shall give Tenant reasonable advance notice "Minor, non-structural repairs and replacements" mean repairs and replacements that do not interfere with the occupancy of the Building and Premises or use of the Building and Premises for their intended purposes. If Lessor's work shall not be completed within thirty (30) days after the scheduled completion date on which Landlord expects of December 1, 1995, as such date may change pursuant to Paragraph 51, 53, 54 or otherwise herein, Lessor shall be subject to a penalty of $2,000.00 per day for each day of delay. Failure to complete the Tenant Improvements to be Substantially Completed and work as aforesaid shall not affect the Premises to be Ready for Occupancyvalidity of this Lease nor Lessee's obligations hereunder, but the Term of this Lease shall not commence until Lessor has completed such work except as provided in 3.3 above.

Completion and Delivery. (a) If, The Tenant Improvements shall be deemed completed when: 1. All work of construction on the Tenant Improvements has been substantially completed in accordance with Section 2.1the Approved Plans and Specifications, no Tenant Improvements are required for the Premises, the Premises shall be deemed delivered and ready for Tenant’s occupancy subject to normal minor so-called “Punch List Items” (“Ready for Occupancy”defined below) on the Term Commencement Date defined not exceeding in the Basic Lease Information.aggregate $25,000 in value agreed to after an inspection by Landlord and Tenant; (b) If Tenant Improvements are required for the Premises, the Premises shall be deemed Ready for Occupancy when 2. The architect or engineer in charge of construction of the Tenant Improvements has prepared and certified by his signature the American Institute of Architects form of Substantial Completion and delivered to Landlord and Tenant a written statement certifying that the Improvements have been Substantially Completed (as hereafter defined). The term “Substantially Completed” when used substantially completed in this Lease shall mean accordance with the earlier of (i) Approved Plans and Specifications, and any properly authorized construction changes, and certifying the date of such substantial completion; and 3. A temporary or permanent certificate of occupancy for the Building has been delivered to Tenant. Notwithstanding the foregoing, if issuance of a certificate of occupancy is delayed by reason of Tenant’s acts or omissions (temporary including any Tenant work or permanentchange order provided by Paragraphs E and F of this Rider), the Term of this Lease shall commence upon substantial completion of Landlord’s work, as provided in subparagraphs 1 and 2 above, and the certificate of occupancy shall be obtained thereafter upon completion of Tenant’s work at Tenant’s cost. Landlord shall diligently complete any Punch List Items as soon as reasonably possibly and in no event will more than thirty (30) for the Premises by the municipality days be required. “Punch List Items,” as used herein, shall refer to minor, nonstructural repairs and/or minor, non-structural replacement of work not installed (i) in which the Premises are located, a workmanlike manner and/or (ii) or if no certificate of occupancy is requiredin accordance with the Approved Plans and Specifications. “Minor, the date when Landlord’s architect or general contractor certifies non-structural repairs and replacements” shall mean repairs and replacements that the Tenant Improvements are Substantially Completed, which certification shall be conclusive and binding upon Landlord and Tenant, or (iii) the date on which Tenant takes possession of the Premises. The Tenant Improvements shall be deemed Substantially Completed notwithstanding the fact that minor details of construction, mechanical adjustments or decorations (items normally referred to as “punch list” items) which do not materially interfere with Tenant’s the occupancy of the Building and Premises or use of the Building and Premises (for their intended purposes. Failure to complete the work as determined by Landlord in aforesaid shall not affect the exercise validity of its reasonable judgment) remain to be performed in accordance with the Work Agreement. Landlord shall give Tenant reasonable advance notice of the date on which Landlord expects the Tenant Improvements to be Substantially Completed and the Premises to be Ready for Occupancythis Lease nor Tenant’s obligations hereunder.

Completion and Delivery. (a) If, in accordance with Section 2.1, no Tenant Improvements are required for the Premises, the Premises shall be deemed delivered and ready for Tenant’s occupancy (“Ready for Occupancy”) on the Term Commencement Date defined in the Basic Lease Information. (b) If Tenant Improvements are required for the Premises, the The Premises shall be deemed Ready for Occupancy when the Tenant Improvements have been Substantially Completed (as hereafter defined). The term “"Substantially Completed” " when used in this Lease shall mean the earlier of (i) the date of issuance of a certificate of occupancy (temporary or permanent) for the Premises by the municipality in which the Premises are located, (ii) or if no certificate of occupancy is required, the date when Landlord’s 's architect or general contractor certifies that the Tenant Improvements are Substantially Completed, which certification shall be conclusive and binding upon Landlord and Tenant, or (iii) the date on which Tenant takes possession of the Premises. The Tenant Improvements shall be deemed Substantially Completed notwithstanding the fact that minor details of construction, mechanical adjustments or decorations (items normally referred to as “"punch list” " items) which do not materially interfere with Tenant’s 's use of the Premises (as determined by Landlord in the exercise of its reasonable judgment) remain to be performed in accordance with the Work Agreement. Landlord shall give Tenant reasonable advance notice of the date on which Landlord expects the Tenant Improvements to be Substantially Completed and the Premises to be Ready for Occupancy.