Completion of the Work & Delay. Lessor shall use its best efforts to cause the Commencement Date of the initial term to occur not later than February 1, 2001. If the Commencement Date has not occurred by February 28, 2001, Lessee shall receive one day of base rent abatement for each day after February 28, 2001 until the Commencement Date. If Lessee is entitled to base rent abatement as provided in the preceding sentence, such abatement shall begin on the Commencement Date. Lessor and Lessee agree that having a Commencement Date after February 28, 2001 will cause Lessee and Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Accordingly, the parties hereby agree that Lessee's right to the abatement of base rent specified herein represents a fair and reasonable settlement for both parties and neither party shall have further liability to the other for any damages. If the Commencement Date has not occurred by Xxxxx 00, 0000, Xxxxxx may at its sole option, by written notice to Lessor, have the right to terminate this Lease at any time after March 31, 2001 until the Commencement Date. Notwithstanding anything to the contrary herein (but subject to the last sentence of this section), all dates stated herein shall be extended for the number of days Lessor is unable to Substantially Complete the Premises as a result of delays: (i) due to governmental actions (other than governmental action of refusing to approve work which fails to comply with the law or the building permit) which occurs after receipt of normal building permits, (ii) due to acts of God, (iii) due to circumstances beyond Lessor's control, (iv) resulting from the City of San Xxxx failing to issue a building permit within thirty (30) days after submittal of plans by Lessor, and (v) due to Lessee Delays. "Lessee Delays" means a delay in Substantial Completion resulting from (a) Lessee's failure to meet Lessee's deadlines for approval as shown on Exhibit F, (b) delays due to change orders, (c) delays due to Lessee's failure to meet the deadlines for approving any plans or change orders, and (d) delays because of the inability to obtain any product, materials, design, color, fitting, or finish pursuant to this Section 2.1.6. Notwithstanding the above, Lessor shall not be entitled to a delay exceeding 180 days as a result of (ii), (iii) or (iv) above.
Appears in 1 contract
Samples: Oni Systems Corp
Completion of the Work & Delay. Lessor shall use its best efforts to cause Substantially Complete the Commencement Date of Building Shell and the initial term to occur not later than February 1Lessee Interior Improvements (collectively the “Improvements”) on or before August 30, 2001. If 2000 (the Commencement Date has not occurred by February 28, 2001, Lessee shall receive one day of base rent abatement for each day after February 28, 2001 until the Commencement “Scheduled Completion Date. If Lessee is entitled to base rent abatement as provided in the preceding sentence, such abatement shall begin on the Commencement Date”). Lessor and Lessee agree that having a Commencement Substantial Completion of the Lessee Interior Improvements for Phase I after the Scheduled Completion Date after February 28, 2001 will cause Lessee and Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Accordingly, if the Lessee Interior Improvements for Phase I are not Substantially Completed on or before September 15, 2000, then Lessor agrees to reduce the base monthly rental first payable by Lessee under this Lease by an amount equal to one day of base rental for each day of delay. The parties hereby agree that Lessee's right to the abatement of base monthly rent specified herein represents a fair and reasonable settlement for both parties and neither party parry shall have further liability to the other for any damages. damages associated with delay in Substantial Completion of the Lessee Interior Improvements for Phase I. If the Commencement Date has Lessee Interior Improvements for Phase I are not occurred by Xxxxx 00Substantially Completed on or before September 30, 00002000, Xxxxxx the (“Required Completion Date”), Lessee may at as its sole optionremedy, by delivery of written notice to Lessor, have the right to terminate this Lease Lessor at any time after March 31the Required Completion Date, 2001 until the Commencement DateSubstantial Completion of the Lessee Interior Improvements for Phase I, terminate this Lease or continue to accept the abatement of monthly rent as stated above. Notwithstanding anything to the contrary herein (but subject to foregoing, the last sentence of this section), all dates stated herein Scheduled Completion Date and the Required Completion Date shall be extended one date for each day Lessor’s Substantial Completion of the number of days Lessor Improvements is unable actually delayed due to Substantially Complete the Premises as a result of delays: (i) due to governmental actions action after receipt of the building permits for the Lessee Interior Improvements for Phase I (other than governmental action of refusing refusal to approve work which fails to comply with the law applicable Law or the building permit) which occurs after receipt of normal building permits), (ii) due to acts of God, (iii) due to circumstances beyond Lessor's control, ’s control and (iv) resulting from the City of San Xxxx failing to issue a building permit within thirty (30) days after submittal of plans by Lessor, and (v) due to “Lessee Delays. "Lessee Delays" Delay” means a an actual delay in Substantial Completion of the Lessee Interior Improvements for Phase I resulting from (ai) the Lessee's ’s failure (through no fault of Lessor) to meet Lessee's ’s deadlines for approval of the plans for the Lessee Interior Improvements for Phase I as shown set forth on Exhibit F, (bii) delays due any change in the work requested by Lessee (up to the maximum delay specified in the change orders, (c) delays due to Lessee's failure to meet the deadlines for approving any plans or change ordersorder), and (diii) delays any delay Lessee agrees in writing to bear because of the inability to obtain any product, materials, design, color, fitting, finish or finish material pursuant to this Section 2.1.6Subsection 2.1,6. Notwithstanding the above, Lessor shall not be entitled to a delay exceeding 180 days as a result of (ii), (iii) or (iv) above.
Appears in 1 contract
Completion of the Work & Delay. Lessor shall use its best efforts to cause the Commencement Date of the initial term to occur not later than February 1, 2001. If the Commencement Date has not occurred by February 28, 2001, Lessee shall receive one day of base rent abatement for each day after February 28, 2001 until the Commencement Date. If Lessee is entitled to base rent abatement as provided in the preceding sentence, such abatement shall begin on the Commencement Date. Lessor and Lessee agree that having a Commencement Date after February 28, 2001 will cause Lessee and Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Accordingly, the parties hereby agree that Lessee's right to the abatement of base rent specified herein represents a fair and reasonable settlement for both parties and neither party shall have further liability to the other for any damages. If the Commencement Date has not occurred by Xxxxx 00, 0000, Xxxxxx may at its sole option, by written notice to Lessor, have the right to terminate this Lease at any time after March 31, 2001 until the Commencement Date. Notwithstanding anything to the contrary herein (but subject to the last sentence of this section), all dates stated herein shall be extended for the number of days Lessor is unable to Substantially Complete the Premises as a result of delays: (i) due to governmental actions (other than governmental action of refusing to approve work which fails to comply with the law or the building permit) which occurs after receipt of normal building permits, (ii) due to acts of God, (iii) due to circumstances beyond Lessor's control, (iv) resulting from the City of San Xxxx failing to issue a building permit within thirty (30) days after submittal of plans by Lessor, and (v) due to Lessee Delays. "Lessee Delays" means a delay in Substantial Completion resulting from (a) Lessee's failure to meet Lessee's deadlines for approval as shown on Exhibit F, (b) delays due to change orders, (c) delays due to Lessee's failure to meet the deadlines for approving any plans or change orders, and (d) delays because of the inability to obtain any product, materials, design, color, fitting, or finish pursuant to this Section 2.1.6. Notwithstanding the above, Lessor shall not be entitled to a delay exceeding 180 days as a result of (ii), ) or (iii) or (iv) above.
Appears in 1 contract
Samples: Oni Systems Corp
Completion of the Work & Delay. Lessor shall use its best efforts to cause Substantially Complete the Commencement Date of Building Shell and the initial term to occur not later than February 1, 2001. If Lessee Interior Improvements (collectively the Commencement Date has not occurred by February 28, 2001, Lessee shall receive one day of base rent abatement for each day after February 28“Improvements”) on or before August 30, 2001 until (the Commencement “Scheduled Completion Date. If Lessee is entitled to base rent abatement as provided in the preceding sentence, such abatement shall begin on the Commencement Date”). Lessor and Lessee agree that having a Commencement Substantial Completion of the Lessee Interior Improvements for Phase II after the Scheduled Completion Date after February 28, 2001 will cause Lessee and Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Accordingly, if the Lessee Interior Improvements for Phase II are not Substantially Completed on or before September 15, 2001, then Lessor agrees lo reduce the base monthly rental first payable by Lessee under this Lease by an amount equal to one day of base rental for each day of delay. The parties hereby agree that Lessee's right to the abatement of base monthly rent specified herein represents a fair and reasonable settlement for both parties and neither party shall have further liability to the other for any damagesdamages associated with delay in Substantial Completion of the Lessee Interior Improvements for Phase II. If the Commencement Date has Lessee Interior Improvements for Phase II are not occurred by Xxxxx 00Substantially Completed on or before September 30, 00002001, Xxxxxx the (“Required Completion Date”), Lessee may at as its sole optionremedy, by delivery of written notice to Lessor, have the right to terminate this Lease Lessor at any time after March 31the Required Completion Date, 2001 until the Commencement DateSubstantial Completion of the Lessee Interior Improvements for Phase II, terminate this Lease or continue to accept the abatement of monthly rent as stated above as it applies to Phase II. Notwithstanding anything to the contrary herein (but subject to foregoing, the last sentence of this section), all dates stated herein Scheduled Completion Date and the Required Completion Date shall be extended one date for each day Lessor’s Substantial Completion of the number of days Lessor Improvements is unable actually delayed due to Substantially Complete the Premises as a result of delays: (i) due to governmental actions action after receipt of the building permits for the Lessee Interior Improvements for Phase II (other than governmental action of refusing refusal to approve work which fails to comply with the law applicable Law or the building permit) which occurs after receipt of normal building permits), (ii) due to acts of GodCod, (iii) due to circumstances beyond Lessor's control, ’s control and (iv) resulting from the City of San Xxxx failing to issue a building permit within thirty (30) days after submittal of plans by Lessor, and (v) due to “Lessee Delays. "Lessee Delays" Delay” means a an actual delay in Substantial Completion of the Lessee Interior Improvements for Phase II resulting from (ai) the Lessee's ’s failure (through no fault of Lessor) to meet Lessee's ’s deadlines for approval of the plans for the Lessee Interior Improvements for Phase II as shown set forth on Exhibit F, (bii) delays due any change in the work requested by Lessee (up to the maximum delay specified in the change orders, (c) delays due to Lessee's failure to meet the deadlines for approving any plans or change ordersorder), and (diii) delays any delay Lessee agrees in writing to bear because of the inability to obtain any product, materials, design, color, fitting, finish or finish material pursuant to this Section 2.1.6. Notwithstanding the aboveSubsection 2.2.6, Lessor shall not be entitled to a delay exceeding 180 days as a result of (ii), (iii) or (iv) above.
Appears in 1 contract
