CONSTRUCTION AND ACCEPTANCE OF PREMISES. 2.1 Landlord agrees that it will promptly commence and diligently pursue the construction of those building and improvements shown on Exhibit “A” which will contain the Premises as designated on Exhibit “B” and with respect to the Premises will complete Landlord’s Work as defined in Exhibit “C” on or before the Scheduled Completion Date, with such minor variations as Landlord may deem reasonably necessary due to unavailability of materials. Tenant shall have no right to enter or occupy the Premises until the Premises are Ready for Occupancy, except for purposes of installing vaults which of its nature requires installation prior to opening for business with prior written approval and consent from Landlord and provided such work must accommodate Landlord’s construction schedule and process. Notwithstanding anything to the contrary contained in this Lease, in the event that Landlord does not deliver the Premises to the Tenant in the condition required under this within ninety (90) days following the Scheduled Completion Date, Tenant may, in its sole discretion, elect to terminate this Lease upon five (5) days written notice to Landlord provided such notice is given within thirty (30) days following such period.
2.2 Tenant agrees to submit to Landlord plans and specifications for any and all improvements which are Landlord’s responsibility, within sixty (60) days after the date of this lease, in such detail as Landlord may reasonably request covering Tenant’s Work as specified in Exhibit “C”, and any other work which Tenant proposes to do in the Premises. Such plans and specifications shall substantially comply with all requirements set forth in Exhibit “C”. Tenant shall not commence any work in the Premises until Landlord has approved such plans and specifications, in writing, which approval shall not be unreasonably withheld, conditioned or delayed. Landlord shall approve or disapprove (with reasonable specificity) Tenant’s plans and specifications in writing within thirty (30) days after Landlord has received the same from Tenant. In the event that Landlord fails to timely approve or disapprove Tenant’s plans and specification as required herein, then Landlord shall be deemed to have granted its approval.
2.3 Upon written notification from Landlord that the Premises are Ready for Occupancy, Tenant agrees to take possession and proceed with commercially reasonable due diligence to perform the work described in such plans and specifications which have been a...
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CONSTRUCTION AND ACCEPTANCE OF PREMISES. [INTENTIONALLY OMITTED]
(a) Tenant shall pay unto Landlord the Annual Rent of Three Hundred Sixty Thousand Dollars ($360,000.00). Tenant shall pay the Annual Rent in equal monthly installments of Thirty Thousand Dollars ($30,000.00). The Monthly Installments of Annual Rent shall be paid by the 1st day of each and every month for the Term of this Lease, without deduction, set-off, recoupment, counterclaim, or demand, at Landlord's Address or at such other place as shall be designated in writing by Landlord. If the Term shall commence or end on a day other than the first day of a month, the Monthly Installment of Rent for any such partial month of the Term shall be prorated on a per diem basis. The Monthly installments of Annual Rent shall be fully applied towards (i) paying down the principal and interest expense of the Bonds in substantially the allocation set forth on Schedule 1, attached hereto, (ii) the payment of the principal and interest related to that certain mixer equipment note between Clear Lake Specialty Products, Inc. and M&T Bank and (iii) any fees related to the operation of the Premises. This Lease shall be deemed and construed to be a "net lease" and accordingly, anything in this Lease to the contrary notwithstanding, Landlord shall receive any payments required to be made by Tenant free from any charges, assessments, impositions, expenses, set offs, recoupments or deductions of any and every kind or nature whatsoever. Tenant's obligation to pay Rent under this Lease shall not be affected by reason of any prohibition, limitation or prevention of Tenant's use, occupancy or enjoyment of the Property other than the Landlord's breach of the covenant contained in Section 18.
(b) In addition to the Annual Rent Tenant shall pay unto Landlord as Additional Rent such costs that Landlord shall incur in connection with the ownership or operation of the Premises. Such costs shall include but be limited to any Taxes, as set forth in Section 10 of this Lease. Tenant agrees to pay Insurance Expense related to the Premises.
(c) In the event that Tenant shall fail to exercise its Option to purchase the Premises as identified in paragraph 8 of the Lease, Tenant shall beginning on August 12, 2012 pay as Additional Rent Percentage Rent. The Percentage Rent due shall be equal to Ten Percent (10%) of the Net Profits generated by Tenant from the operation of the Premises in the immediately proceeding month. Tenant shall deliver to Landlord at the end of each mon...
CONSTRUCTION AND ACCEPTANCE OF PREMISES. The Premises have been constructed by Landlord. Absent written notice from Tenant to Landlord within fifteen (15) days after occupancy execution of this Lease, there shall be a conclusive presumption that the Premises are in good and tenantable condition.**
CONSTRUCTION AND ACCEPTANCE OF PREMISES. Tenant hereby agrees that the Premises shall be taken “as is”, “with all faults”, “without any representations and warranties”, except as otherwise set forth in this Sublease, and Tenant hereby agrees and warrants that it has investigated and inspected the condition of the Premises and the suitability of same for Tenant’s purposes, and Tenant does hereby waive and disclaim any objection to, cause of action based upon, or claim that its obligations hereunder should be reduced or limited because of the suitability of same for Tenant’s purposes. Landlord hereby warrants and represents to Tenant that upon the Commencement Date, the Building and the Premises shall be (i) in good condition and repair, the roof and foundation will be water-tight and free of leaks, and all mechanical, electrical, plumbing, life-safety and other systems serving the Premises and Building shall be in good operating condition; (ii) in compliance with all applicable Legal Requirements; (iii) free of all Hazardous Material (as defined below) in violation of applicable Legal Requirements; provided, however, that if any of the foregoing is untrue, then as Tenant’s exclusive remedy therefor, Landlord shall promptly correct such deficiency at no cost to Tenant, and Landlord shall use commercially reasonable efforts to minimize interference with Tenant’s business as a result of such work.
CONSTRUCTION AND ACCEPTANCE OF PREMISES. (a) Landlord shall proceed to construct improvements upon the Premises, at its expense (subject, however, to the provisions of Paragraph 4(c), in compliance with the plans and specifications approved in writing by Tenant, with such minor variations as Landlord may deem advisable ("Landlord's Work"). Landlord shall tender the Premises to Tenant promptly as provided in Paragraph 4(b). Landlord's Work shall be constructed in a good and workmanlike manner, using new materials, in accordance with the plans and specifications approved by Tenant and all Applicable Laws. As used herein, "Applicable Laws" shall mean all laws, ordinances (including Fire and Building Codes), regulations, orders, interpretations and zoning requirements of any governmental authority, agency or other public or private regulatory authority (including insurance underwriters or rating bureaus) and including the requirements of the Americans With Disabilities Act, as amended (the "ADA"), which may be in effect from time to time and relating to the Premises or Tenant's business conducted therein.
CONSTRUCTION AND ACCEPTANCE OF PREMISES. Tenant accepts the Premises in their “as is” condition, except that Landlord, at its sole cost and expense, shall provide the tenant improvements outlined in Exhibit “C” attached to this Lease. Absent written notice from Tenant to Landlord within thirty (30) days after Tenant’s taking possession of the Premises, there shall be a conclusive presumption that the Premises and the Tenant Improvements are in good and tenantable condition. Notwithstanding the foregoing, Landlord shall have an affirmative obligation, at Landlord’s cost, to promptly correct any defects in the Tenant Improvements about which it receives written notice from Tenant within the thirty
CONSTRUCTION AND ACCEPTANCE OF PREMISES. Section 5 of the Lease shall not be applicable to this Sublease.
CONSTRUCTION AND ACCEPTANCE OF PREMISES. (a) The Premises shall be constructed by Landlord in accordance with Exhibits "A" and "B" and the Lease Addendum attached hereto. Upon default by Tenant in payment of any amount due from Tenant in connection with said construction, as provided in Exhibit "B", in addition to any other remedies available at law or in equity, Landlord shall be entitled to the same remedies against Tenant as in the case of a default in the payment of rent under this Lease. Absent written notice from Tenant to Landlord within THIRTY (30) days after Tenant's taking possession of the Premises, there shall be a conclusive presumption that the Premises are in good and tenantable condition, EXCEPT FOR LATENT DEFECTS.
CONSTRUCTION AND ACCEPTANCE OF PREMISES
