Common use of Completion/Punch-List Clause in Contracts

Completion/Punch-List. When the Landlord is of the opinion that the Landlord's Work is complete, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord a written statement that the Landlord's Work have been completed and are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List"). The Tenant agrees that at the request of the Landlord from time to time thereafter, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Landlord shall promptly complete all such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by reference.

Completion/Punch-List. When the Landlord is of the opinion that the Landlord's Work is complete, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord a written statement that the Landlord's Work have has been completed and are is complete as required by the provisions of this EXHIBIT 4 B, this Amendment and the Lease with the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List"). The Tenant agrees that at the request of the Landlord from time to time thereafter, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Landlord shall promptly complete all such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by reference.the

Completion/Punch-List. When the Subject to extensions resulting from Tenant Delays and/or Force Majeure Events, Landlord is of the opinion that the Landlord's Work is complete, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notification, will use its commercially reasonable efforts to cause the Tenant promptly Improvement Work to be substantially completed on or before the date that is one hundred twenty (and not later than two (2120) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord a written statement that the Landlord's Work have been completed and are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items Plan Approval Date (hereinafter referred to as the "Punch List“Scheduled Completion Date"). The Tenant agrees that at the request of the Landlord from time to time thereafter, the Tenant Improvement Work will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Landlord shall promptly complete all such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete completed and the Date “Completion Date” will occur at such time as: (y) Landlord notifies Tenant that the Tenant Improvement Work has been substantially completed in accordance with the Final Tenant Improvement Plans, subject only to the Punch List Items (as defined below), which will not materially impair Tenant’s intended use of Substantial the Premises; and (z) the City of Scottsdale has issued a temporary Certificate of Occupancy, Certificate of Completion or the reasonable equivalent, which will enable Tenant to occupy and conduct its intended use in the Premises. If Landlord obtains a temporary Certificate of Occupancy as provided in the clause (z), above, Landlord shall nonetheless diligently pursue to completion obtaining a permanent Certificate of Occupancy. Landlord shall give Tenant at least fifteen (15) days prior written notice of the anticipated Scheduled Completion Date. Landlord and Tenant will schedule and conduct an inspection of the Tenant Improvement Work no less than five (5) Business Days prior to Landlord’s substantial completion. After the inspection, Tenant and Landlord shall mutually agree upon the items that Landlord is required to correct to Tenant’s reasonable satisfaction (“Punch List Items”). The inspection shall be scheduled for a Business Day at a time mutually acceptable to Tenant and Landlord. Landlord shall complete the Punch List Items within thirty (30) days following the inspection. If the Tenant Improvement Work is not deemed to be substantially completed on or before the Scheduled Completion Date, Landlord agrees to use commercially reasonable efforts to complete all remaining Tenant Improvement Work within 60 days and, during this 60-day grace period (“Grace Period”), the Lease will remain in full force and effect, Landlord will not be deemed to have occurred upon the issuance of a certificate of occupancy be in breach or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date default of the Lease, so that said date is certain and such instrumentLandlord will have no liability to Tenant as a result of any delay except that, when executedsubject to Tenant Delays and Force Majeure Events, is hereby made part Tenant shall receive an abatement of this Lease and incorporated herein by referenceMonthly Base Rent in an amount equal to one (1) day of Monthly Base Rent for each one (1) day delay for completion beyond the Grace Period.

Completion/Punch-List. When Landlord’s architect considers the Work to be substantially complete or about to be substantially completed, Landlord is shall notify Tenant as to the date or anticipated date of substantial completion and of a time and date for inspection of the opinion Work. If such time and date are not acceptable to Tenant, Landlord and Tenant shall mutually agree upon another time and date, provided that the Landlord's Work is complete, then the Tenant shall not unreasonably delay such inspection. Landlord shall so notify the Tenant. The and Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will agree to inspect the Premises at such time and furnish on such date and to execute at the time of such inspection Landlord’s form of inspection report which shall be prepared by Landlord’s architect and shall list items designated by said architect as not yet completed and any additional items which Landlord and Tenant acting reasonably and in good faith agree upon during such inspection are not yet completed, none of which shall materially interfere with Tenant’s ability to use and occupy the Premises for their intended purpose (said list is hereafter referred to as a “Punch List”). If the Work is substantially completed in accordance with the Plans, subject only to the Landlord completion of the Punch List, Tenant agrees to also execute at the time of such inspection a written statement that the Landlord's Work Premises have been substantially completed in accordance with this Agreement subject only to the items listed on the Punch List. If items remaining to be completed which would materially interfere with Tenant’s use and occupancy of the Premises for their intended use, Tenant, acting in a commercially reasonable manner, shall not execute the inspection report until the items which would materially interfere with Tenant’s use and occupancy of the Premises for their intended use have been completed and are complete as required by at which time Tenant will execute a written statement that the provisions of Premises have been substantially completed in accordance with this EXHIBIT 4 and Agreement subject only to the Lease with items listed on the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List")list. The Tenant agrees that that, at the request of the Landlord from time to time thereafterafter the initial inspection, Tenant shall initial such Punch List or execute revised Punch Lists to reflect partial completion of prior Punch List items, to the Tenant will indicate in writing to Landlord whether any prior extent such Punch List items have been completedcompleted to Tenant’s reasonable satisfaction. If Tenant’s acknowledgment in writing that the Premises are substantially complete and acceptance of possession of the Premises shall not relieve Landlord of its obligations to promptly complete all Punch List items. Landlord shall utilize its good faith efforts to complete all Punch List items within thirty (30) days of the Completion Date or such longer period of time as is reasonably required due to the nature of the Punch List consists only items. Landlord shall also promptly obtain a certificate of items which would not materially impair occupancy. To the Tenant's use or occupancy extent that Landlord tenders possession of portions of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Premises to Tenant shall be deemed as contemplated by Section 2.1(B) prior to have accepted possession of the Premises, provided, Landlord shall promptly complete all such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred Section 4 shall apply with respect to as any portion of the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work Premises so tendered to Tenant and a Punch List shall be deemed prepared with respect to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date that portion of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by referencePremises.

Completion/Punch-List. When The Leased Premises shall not be considered substantially complete until the Landlord is Tenant Improvements have been completed in accordance with the Tenant Improvement Plans subject only to the completion of minor punch-list items that will not interfere with Tenant's use and occupancy of the opinion that Premises for the Landlordnormal conduct of Tenant's Work is completebusiness. Upon substantial completion of the Tenant Improvements, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notificationin writing and, the Tenant promptly within ten (and not later than two (210) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord a written statement that the Landlord's Work have been completed and are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List"). The Tenant agrees that at the request of the Landlord from time to time thereafter, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy receipt of the Premisessuch notice, then, in such event, the Landlord's Work shall be deemed complete Landlord and Tenant shall be deemed to have accepted possession conduct a "walk through" inspection of the PremisesLeased Premises and prepare a punch-list of known or apparent deficiencies or incomplete work required to be corrected or completed by Landlord pursuant to the Tenant Improvement Plans. Landlord, providedat Landlord's sole cost and expense, shall cause all punch-list items to be repaired or completed as soon as possible, but in no event later than thirty (30) days following the walk through inspection, unless and to the extent delays are unavoidable due to materials ordering periods. Latent or hidden defects in the Tenant Improvements shall be brought to Landlord's attention promptly upon Tenant's becoming aware of such defects. Landlord, at Landlord's sole cost and expense, shall promptly cause such defects to be repaired following receipt of notice thereof and Tenant shall have the same rights with respect thereto as set forth herein for all other punch-list items. Immediately prior to the delivery of the Leased Premises to Tenant, Landlord shall promptly complete remove all such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on rubbish and debris therefrom and thoroughly clean the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion DateLeased Premises." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by reference.

Completion/Punch-List. When Landlord’s architect considers the Work to be substantially complete or about to be substantially completed, Landlord is shall notify Tenant as to the date or anticipated date of substantial completion and of a time and date for inspection of the opinion Work. If such time and date are not acceptable to Tenant, Landlord and Tenant shall mutually agree upon another time and date, provided that Tenant shall not unreasonably delay such inspection. Landlord and Tenant agree to inspect the Expansion Premises at such time and on such date and to execute at the time of such inspection Landlord's ’s form of inspection report which shall be prepared by Landlord’s architect and shall list items designated by said architect as not yet completed and any additional items which Landlord and Tenant acting reasonably and in good faith agree upon during such inspection are not yet completed, none of which shall materially interfere with Tenant’s ability to use and occupy the Expansion Premises for their intended purpose (said list is hereafter referred to as a “Punch List”). If the Work is completesubstantially completed in accordance with the Plans, then subject only to the Landlord shall so notify completion of the Tenant. The Punch List, Tenant agrees that upon to also execute at the time of such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord inspection a written statement that the Landlord's Work Expansion Premises have been substantially completed in accordance with this Agreement subject only to the items listed on the Punch List. If items remaining to be completed which would materially interfere with Tenant’s use and occupancy of the Expansion Premises for their intended use, Tenant, acting in a commercially reasonable manner, shall not execute the inspection report until the items which would materially interfere with Tenant’s use and occupancy of the Expansion Premises for their intended use have been completed and are complete as required by at which time Tenant will execute a written statement that the provisions of Premises have been substantially completed in accordance with this EXHIBIT 4 and Agreement subject only to the Lease with items listed on the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List"). The Tenant agrees that that, at the request of the Landlord from time to time thereafterafter the initial inspection, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Landlord shall promptly complete all initial such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by reference.Punch

Completion/Punch-List. When The Premises shall not be considered substantially complete until the Landlord is Tenant Improvements have been completed in accordance with the Tenant Improvement Plans subject only to the completion of minor punch-list items that will not, in any material way, interfere with Tenant’s use and occupancy of the opinion that Premises for Tenant’s permitted use under the Landlord's Work is completeLease. Upon substantial completion of the Tenant Improvements, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notificationin writing and, the Tenant promptly within ten (and not later than two (210) business days after the date of Landlord's said Tenant’s receipt of such notice) will inspect , Landlord and Tenant shall conduct a “walk through” inspection of the Premises and furnish prepare a punch-list of known or apparent deficiencies or incomplete work required to be corrected or completed by Landlord pursuant to the Tenant Improvement Plans. Landlord a shall cause all punch-list items to be repaired or completed at no cost to Tenant, as soon as possible, but in no event later than thirty (30) days following the walk through inspection. If Landlord fails to complete any of the punch-list items within such 30-day period, then Tenant, after giving ten (10) business days written statement that notice to Landlord, shall have the Landlord's Work have been right, but not the obligation, to cause such unfinished punch-list items to be completed and are complete as required by the provisions of this EXHIBIT 4 and the Lease Landlord shall reimburse Tenant’s reasonable costs associated with the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List")such items. The Tenant agrees that at the request of the Landlord from time to time thereafter, Latent or hidden defects in the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work Improvements shall be deemed complete brought to Landlord’s attention promptly upon Tenant’s becoming aware of such defects. Landlord, at Landlord’s sole cost and expense, shall promptly cause such defects to be repaired following receipt of notice thereof, to the extent the same are covered by construction warranty, and Tenant shall be deemed to have accepted possession of the Premises, provided, Landlord shall promptly complete same rights with respect thereto as set forth herein for all such Punch List other punch-list items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by reference.