Construction of Leased Premises. a. Promptly following the Effective Date, Landlord, on a turnkey basis, shall construct the Tenant Improvements (defined below) in accordance with the Floor Plan (Exhibit A), and the “Tenant Space Finish Work” as set forth in Exhibit B (Exhibits A and B shall be referred to collectively as the “Tenant Improvements” or “Final Plans”). Xxxxxxxx and Xxxxxx agree to work together reasonably and in good faith to agree upon the full scope of the Tenant Improvements, which will be reflected in detailed construction plans. Landlord shall pay for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). Tenant shall be solely responsible for the amount by which the Costs exceed the Allowance (“Excess Allowance”), however to extent Landlord agrees such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result of Tenant’s deviation from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be the sole responsibility of Tenant. Except with respect to delays caused by Xxxxxx’s neglect, wrongful actions, or wrongful omissions, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items in the Tenant Improvements. No later than thirty (30) days after the parties’ execution of said “punch list”, Landlord shall complete all items identified on said “punch list”. Landlord and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding the work to be performed in the Premises, but that certain additional work may need to be performed or adjustments may need to be made to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession of the Premises to Tenant on or before the Anticipated Occupancy Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss resulting therefrom, and the Lease expiration date of the Lease shall not be affected, but from and after the Lease Commencement Date, Tenant shall receive a credit of one (1) free day of rent for each day of delay after the Lease Commencement Date until the Occupancy Date. b. Notwithstanding anything herein to the contrary, if Xxxxxxxx’s failure to deliver the Premises to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result of Landlord’s neglect, negligence or willful misconduct, in addition to any rights or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equity.
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Samples: Lease Agreement (Zomedica Pharmaceuticals Corp.), Lease Agreement (Zomedica Pharmaceuticals Corp.)
Construction of Leased Premises. a. Promptly following (a) The Landlord will complete the Effective Datework designated as "Landlord's Work" in Schedule "C" attached to this Lease no later than January 1, Landlord, on a turnkey basis, shall construct the Tenant Improvements (defined below) in accordance with the Floor Plan (Exhibit A), and the “Tenant Space Finish Work” as set forth in Exhibit B (Exhibits A and B shall be referred to collectively as the “Tenant Improvements” or “Final Plans”)2000. Xxxxxxxx and Xxxxxx agree to work together reasonably and in good faith to agree upon the full scope of the Tenant Improvements, which will be reflected in detailed construction plans. Landlord shall pay for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). The Tenant shall be solely responsible granted joint access to the Leased Premises together with the Landlord's contractors prior to the Commencement Date beginning October 1, 1999 for the amount by which purpose of constructing the Costs exceed Tenant's Leasehold Improvements in conjunction with the Allowance (“Excess Allowance”)Landlord's Work being performed, however to extent Landlord agrees such Excess Allowance may be amortized into as defined herein and preparing the Base Annual Rent. Any additional costs incurred or time delays as a result of Tenant’s deviation Leased Premises for its intended use, and without material interruption from the plans Landlord or its contractor, free from Basic and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be Additional Rent until the sole responsibility of Tenant. Except with respect to delays caused by Xxxxxx’s neglect, wrongful actions, or wrongful omissions, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items in the Tenant Improvements. No later than thirty (30) days after the parties’ execution of said “punch list”, Landlord shall complete all items identified on said “punch list”. Landlord and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding the work to be performed in the Premises, but that certain additional work may need to be performed or adjustments may need to be made to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant ImprovementsCommencement Date. Notwithstanding the foregoing, if Landlord, the Tenant shall be responsible for all parking and utility charges during this Fixturing Period.
(b) The Tenant will examine the Leased Premises before taking possession and unless the Tenant furnishes the Landlord with written notice specifying any reason whatsoever other than Tenant caused delays, cannot deliver deficiencies or defects within ten (10) days after taking possession and ten (10) days after completion of the Landlord's Work, the Tenant will be deemed to have examined the Leased Premises and to Tenant on have agreed that they are in good order. There is no promise, representation or before undertaking by or binding upon the Anticipated Occupancy DateLandlord with respect to any alteration, remodelling or redecorating of, or installation of equipment or fixtures in, the Leased Premises, unless expressly set forth in this Lease shall Lease.
(c) If there is a delay which results in the Building or the Landlord's Work not being completed by January 1, 2000, the Commencement Date will be void or voidable, nor shall Landlord be liable to Tenant for any loss resulting therefrom, and postponed by the Lease expiration date number of days of the Lease shall not delay and this postponement will be affected, but from the Tenant's sole remedy and after further the Lease Commencement Date, Tenant shall receive and does hereby release the Landlord from all costs, expenses, claims, losses or damages suffered or incurred as a credit result of one (1) free day of rent for each day of such delay after the Lease Commencement Date until the Occupancy Date.
b. Notwithstanding anything herein whether or not caused, or to the contraryextent contributed to, if Xxxxxxxx’s failure to deliver by the Premises to Tenant on acts, omissions or negligence of the Lease Commencement Date with the Tenant Improvements substantially completed Landlord or those for whom it is substantially the result of Landlord’s neglect, negligence or willful misconduct, in addition to any rights or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equityresponsible.
Appears in 1 contract
Samples: Lease Agreement (Tucows Inc /Pa/)
Construction of Leased Premises. a. Promptly following It is hereby acknowledged by Landlord-TDYT and Tenant-Turbo that the Effective DateLeased Premises shall be delivered in its "As Is" condition without any representations or warranties by Landlord-TDYT. Tenant-Turbo may not, without the prior written consent of Landlord-TDYT and, on a turnkey basisif required under the Lease, (which consent by Landlord-TDYT shall construct not be unreasonably withheld or delayed) make any change, alteration, addition or improvement to the Tenant Improvements (defined below) in accordance with Leased Premises. In making any addition, repairs, replacements, alterations or improvements, which are permitted by the Floor Plan (Exhibit A)written consent of Landlord-TDYT, and the “Tenant Space Finish Work” as set forth in Exhibit B (Exhibits A all of which Tenant-Turbo shall do at its sole cost and B shall be referred to collectively as the “Tenant Improvements” or “Final Plans”). Xxxxxxxx expense, any and Xxxxxx agree to work together reasonably and in good faith to agree upon the full scope of the Tenant Improvements, which will be reflected in detailed all such construction plans. Landlord shall pay for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). Tenant shall be solely responsible for the amount by which the Costs exceed the Allowance (“Excess Allowance”), however to extent Landlord agrees such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result of Tenant’s deviation from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be performed in a good and first-class workmanlike manner and, furthermore, Tenant-Turbo shall not damage the sole responsibility Leased Premises or materially decrease the value of Tenantthe Leased Premises. Except with respect to delays caused by Xxxxxx’s neglectUnless otherwise agreed, wrongful actions, any construction or wrongful omissions, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements improvement shall be completed deemed to be a part of the Leased Premises and shall be deemed to be the property of Landlord-TDYT. Tenant-Turbo shall be responsible for obtaining all permits and approvals necessary to complete any improvements and to occupy the Leased Premises. Unless otherwise agreed to in writing at the time of approval of the improvements, at the expiration of this Lease, improvements made by Tenant-Turbo to the Leased Premises (other than Tenant-Turbo's personal property, trade fixtures and equipment) shall become property of the Landlord-TDYT, unless notified in writing by the Landlord-TDYT on or prior to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items in the Tenant Improvements. No later than before thirty (30) days after the parties’ execution of said “punch list”, Landlord shall complete all items identified on said “punch list”. Landlord and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding the work to be performed in the Premises, but that certain additional work may need to be performed or adjustments may need to be made prior to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession expiration of the Premises to Tenant on or before the Anticipated Occupancy Date, this Lease requiring Tenant-Turbo to remove and dispose of any such improvements, fixture or the like located thereon. All of Tenant-Turbo's personal property and equipment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss resulting therefrom, and removed at the Lease expiration date of the Lease shall not be affected, but from and after the Lease Commencement Date, Tenant shall receive a credit of one (1) free day of rent for each day of delay after the Lease Commencement Date until the Occupancy Datethis Lease.
b. Notwithstanding anything herein to the contrary, if Xxxxxxxx’s failure to deliver the Premises to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result of Landlord’s neglect, negligence or willful misconduct, in addition to any rights or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equity.
Appears in 1 contract
Construction of Leased Premises. a. Promptly following the Effective Date, Landlord, on a turnkey basis, Landlord shall construct the Tenant Improvements (defined below) leased premises substantially in accordance with the Floor Plan (work described as "Landlord's Work" in Exhibit A)"C" attached hereto and made a part hereof. It is expressly agreed that Landlord's Work shall be limited to the scope of construction delineated as Landlord's Work in said Exhibit "C" and shall in no event include the performance, procurement and/or installation of those items of work, fixtures and equipment which are to be performed, procured and/or installed by Tenant, at Tenant's expense, and the “Tenant Space Finish Work” which are hereinafter described as set forth Tenant's Work in Exhibit B "C" attached hereto and made a part hereof. If (Exhibits A and B i) Landlord shall be referred to collectively as the “Tenant Improvements” or “Final Plans”). Xxxxxxxx and Xxxxxx agree to work together reasonably and in good faith to agree upon the full scope have not commenced construction of the Tenant Improvements, which will be reflected in detailed construction plans. Landlord shall pay for Shopping Center and/or the cost building of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). Tenant shall be solely responsible for the amount by which the Costs exceed the Allowance leased premises forms a part within two (“Excess Allowance”), however to extent Landlord agrees such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result of Tenant’s deviation 2) years from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be the sole responsibility date of Tenant. Except with respect to delays caused by Xxxxxx’s neglect, wrongful actionsthis Lease, or wrongful omissions(ii) the leased premises are not delivered to Tenant within three (3) years from the date of this Lease, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5) business days following substantial completion then for a period of the Tenant Improvements, Landlord and Tenant shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items in the Tenant Improvements. No later than thirty (30) days after following the parties’ execution expiration of said “punch list”the period described in (i) and (ii) above Tenant shall have the option, and for forty-five (45) days following such period Landlord shall complete all items identified on said “punch list”. Landlord have the option, to cancel and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding the work to be performed in the Premises, but that certain additional work may need to be performed or adjustments may need to be made terminate this Lease upon at least thirty (30) days prior written notice to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together other party and, in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession of the Premises to Tenant on or before the Anticipated Occupancy Datesuch event, this Lease shall thereafter be null and void and of no further force or effect, and any money or security deposited hereunder shall be returned to Tenant and thereafter neither party shall have any further liability to the other, either for damages or otherwise, by reason of such cancellation as though this Least had not been executed in the first instance. Under no circumstances, except as provided in the immediately preceding sentence, shall Tenant be void permitted to rescind or voidableterminate this Lease, nor and under no circumstances shall Landlord be liable to Tenant in damages for any loss resulting therefromdelay in commencing or completing the leased premises, and the Lease expiration date of the Lease shall not be affected, but from and after the Lease Commencement Date, Tenant shall receive or for a credit of one (1) free day of rent total failure to complete same or for each day of delay after the Lease Commencement Date until the Occupancy Date.
b. Notwithstanding anything herein to the contrary, if Xxxxxxxx’s a failure to deliver same in the Premises to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result of Landlord’s neglect, negligence or willful misconduct, condition provided for in addition to any rights or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equitythis Lease.
Appears in 1 contract
Samples: Lease Agreement (Cinema Ride Inc)
Construction of Leased Premises. a. Promptly following the Effective Date, Landlord, on a turnkey basis, shall Landlord will construct the Tenant Improvements (defined below) ------------------------------------ improvements in the Leased Premises in accordance with the Floor Plan Final Plans (Exhibit A)the "Landlord Work") at Landlord's sole cost and expense, excepting only change orders requested by Tenant in writing and agreed to in writing by Landlord which shall, in the “Tenant Space Finish Work” as set forth in Exhibit B (Exhibits A and B shall be referred to collectively as the “Tenant Improvements” or “Final Plans”). Xxxxxxxx and Xxxxxx agree to work together reasonably and in good faith to agree upon the full scope of the Tenant Improvementsaggregate, which will be reflected in detailed construction plans. Landlord shall pay for increase the cost of Landlord's Work over the Suite 190 Construction Allowance as described below. In the event that Tenant Improvements requires written change orders ("Change Orders") to the Final Plans which, in the aggregate, increase the cost of Landlord's Work to an amount exceeding the Construction Allowance, Tenant shall pay directly and/or reimburse Landlord for (i) such excess cost over the Construction Allowance arising from the Change Orders and (ii) Landlord's overhead in an amount equal to five percent (5%) of any excess costs over the Construction Allowance. Notwithstanding the foregoing, such excess costs and any such overhead charges shall, if Tenant so elects, be paid for by Landlord and amortized over the Lease Term as Additional Rent at an interest rate equal to twelve percent (12%) per annum. In addition to the foregoing, Tenant shall have the right to require Landlord to pay for Tenant improvements over and above the Construction Allowance in an amount not to exceed $25.00/rsf 5.00 per square foot and, in such event, Tenant shall amortize such additional expenditures at an interest rate equal to twelve percent ($197,200.0012%) (per annum. All construction work required or permitted by this Lease, whether by Landlord or Tenant, shall be done in a good and workmanlike manner and in compliance with all applicable laws, ordinances, regulations and orders of governmental authorities and with all applicable codes of all insurers of the “Allowance”)Building. Each party may inspect the work of the other at reasonable times and shall promptly give notice of observed defects. Each party hereby agrees to be bound by and authorizes the other to rely upon, in connection with design and construction, approval and other actions by the Construction Representative named in Section I or any person hereafter designated as Construction Representative by an amendment to Section 1. With the prior written consent of Landlord, which may be granted or withheld in Landlord's sole discretion Tenant may prior to the Commencement Date enter upon or have its contractors and agents enter upon the Leased Premises to install data and telecommunications equipment. All such work shall be accomplished with minimal interference to the Landlord's contractors at the site. Tenant shall be solely responsible for indemnify, defend and hold Landlord harmless from all loss cost, damage or expense relating to the amount by which entry of Tenant or Tenant's contractor's, agents or employees onto the Costs exceed the Allowance (“Excess Allowance”), however to extent Landlord agrees such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result of Tenant’s deviation from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”)Leased Premises, and shall be provide Landlord with evidence of insurance satisfactory to Landlord prior to entering the sole responsibility of Leased Premises. In the event that any conflict arises between Landlord's contractors and Tenant or Tenant. Except with respect to delays caused by Xxxxxx’s neglect's contractors, wrongful actionsagents or employees, or wrongful omissionsLandlord otherwise determines that Tenant's activities are interfering with the progress of the work, Landlord may (i) remove Tenant and Tenant's contractors, agents or Tenant Change Orders employees from the Leased Premises and (ii) treat the interference as a tenant delay as provided in the third (3rd) paragraph of Section 7 hereof. Landlord shall use commercially reasonable efforts to cause its general contractor to adopt and implement policies designed to avoid work stoppages, slowdowns, disputes or other Tenant caused delays, the Tenant Improvements strikes and shall be completed on or prior to January 1, 2017at all times maintain labor harmony. Within five (5) business days following substantial completion after written notice from Landlord to Tenant of the Tenant Improvementsdate on which Landlord reasonably expects that the construction of the Leased Premises will be Substantially Completed or, Landlord and Tenant shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items in the Tenant Improvements. No later than absence of such notice, within thirty (30) days after Tenant commences occupancy of the parties’ execution Leased Premises, or any part thereof, Landlord's and Tenant's Construction Representatives shall make such inspection of said “the Leased Premises as Tenant deems appropriate, and, except as otherwise notified by Tenant in writing to Landlord within such period, Tenant shall be deemed to have accepted the Leased Premises in their then condition and as being in the condition in which Landlord is obligated to deliver the Leased Premises hereunder; provided, however that Landlord shall repair or cause to be repaired latent defects in construction that are discovered and reported by Tenant during the effective period of any applicable guaranty or warranty. If as a result of such inspection Tenant discovers deviations or variations from the Final Plans and Change Orders of a nature commonly found on a "punch list”" (as that term is used in the construction industry), Tenant shall promptly notify Landlord of such deviations. The existence of such punch list items shall not postpone the Commencement Date of this Lease nor the obligations of Tenant to pay rent. Landlord shall complete cause all punch list items identified on said “punch list”. Landlord and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding the work to be performed in completed within thirty (30) days following the Premises, but that certain additional work may need to be performed or adjustments may need to be made to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession of the Premises to Tenant on or before the Anticipated Occupancy Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss resulting therefrom, and the Lease expiration date of the Lease shall not be affected, but from and after the Lease Commencement Date, subject only to force majeure. After the Commencement Date, Landlord, its agents and/or contractors may enter the Leased Premises from time to time to complete unfinished details and adjustments with reasonable dispatch, and such entry shall not constitute an eviction, in whole or in part, entitle Tenant shall receive a credit to any abatement or diminution of one (1) free day rent, relieve Tenant of rent for each day any of delay after the Lease Commencement Date until the Occupancy Date.
b. Notwithstanding anything herein to the contraryits obligations under this Lease, if Xxxxxxxx’s failure to deliver the Premises or impose any liability on Landlord to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result or its agents or contractors by reason thereof, provided Landlord shall use commercially reasonable efforts to minimize disruption of Landlord’s neglect, negligence or willful misconduct, in addition to any rights or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equityTenant's business operations during such entries.
Appears in 1 contract
Construction of Leased Premises. a. Promptly following the Effective Date, Landlord, on a turnkey basis, Landlord shall construct the Tenant Improvements (defined below) in accordance for Suite 180W only, as set forth on the attached Contractor Agreement, delivered to Landlord by Tenant. Tenant selected Contractor and is responsible for all costs associated with the Floor Plan (Exhibit A), “Contractor Agreement” and completion of the “Tenant Space Finish Work” Improvements as set forth in Exhibit B (Exhibits A and B shall be referred to collectively as the “Tenant Improvements” or “Final Plans”)) at Tenant’s sole cost and expense. Xxxxxxxx and Xxxxxx agree Tenant has made a construction deposit to work together reasonably and in good faith to agree upon the full scope Landlord of the Tenant Improvements, which will be reflected in detailed construction plans. Landlord shall pay for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) 600,000.00 (the “AllowanceTI Deposit”). At job completion satisfactory to both Landlord and Tenant, with all outstanding building permits opened by Contractor finalized with the City of Xxx Arbor, a final accounting shall be completed. To the extent the total job cost is less than the TI Deposit, Landlord shall refund any overage to Tenant. To the extent the total job cost is greater than the TI Deposit, Tenant shall be solely responsible for remit payment to Landlord in the amount by which the Costs exceed the Allowance (“Excess Allowance”), however to extent Landlord agrees such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result of Tenant’s deviation from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be the sole responsibility of Tenant. Except with respect to delays caused by Xxxxxx’s neglect, wrongful actions, or wrongful omissions, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements shall be completed on or prior to January 1, 2017any overage. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items in the Tenant Improvements. No later than thirty (30) days after the parties’ execution of said “punch list”, Landlord Tenant shall have Contractor complete all items identified on said “punch list”. Landlord and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding the work to be performed in the Premises, but that certain additional work may need to be performed or adjustments may need to be made to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession of the Premises to Tenant on or before the Anticipated Occupancy Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss resulting therefrom, and the Lease expiration date of the Lease shall not be affected, but from and after the Lease Commencement Date, Tenant shall receive a credit of one (1) free day of rent for each day of delay after the Lease Commencement Date until the Occupancy Date.
b. Notwithstanding anything herein to the contrary, if Xxxxxxxx’s failure to deliver the Premises to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result of Landlord’s neglect, negligence or willful misconduct, in addition to any rights or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equity.
Appears in 1 contract
Construction of Leased Premises. a. Promptly following the Effective Date, Landlord, on a turnkey basis, (a) The leased premises shall construct the Tenant Improvements (defined below) in accordance with the Floor Plan (Exhibit A), and the “Tenant Space Finish Work” be constructed substantially as set forth in Exhibit B, which is attached hereto and made a part hereof. Each of the parties hereto does hereby agree to perform the obligations imposed upon such party in said Exhibit B (Exhibits A at the times and in the manner therein provided. All references in the text of the Lease to Exhibit B shall include Exhibit B-1. Minor changes from any plans or specifications covering Landlord's Work which may be, or which may have been, necessary or appropriate during construction of the Shopping Center or leased premises shall not affect or change this Lease or invalidate same. If this Lease is executed after the opening of the regional retail development or if the leased premises are in an expansion wing of the regional retail development which opened prior to the date of this Lease, the parties hereto acknowledge that the work to be referred performed by Landlord pursuant to collectively Exhibit B has been fully performed, except to the extent specifically otherwise set forth in Exhibit B).
Section 5.01 (a): Prior to Tenant's commencement of construction in the ---------------- area of the leased premises to be located outside of the existing building, Landlord agrees to remove the trees which are currently located in such area, which removal is identified in Exhibit F (subject to approval of governmental authorities and the Department Store operators.)
(b) Tenant agrees, prior to the commencement of the term of this Lease, at Tenant's sole cost and expense, to provide all work of whatsoever nature in accordance with its obligations set forth in Exhibit B as "Tenant's Work." Tenant agrees to furnish to Landlord the “Working Drawings and Specifications (and Demolition Drawings, as applicable) with respect to the leased premises prepared in the manner and within the time periods required in Exhibit B provided Tenant's Landlord-approved plans shall control in the event of an express conflict with the requirements of Exhibit B. If such Working Drawings and Specifications (and Demolition Drawings, as applicable) are not furnished by Tenant Improvements” to Landlord within the required time periods in form to permit approval by Landlord, then Landlord may at its option at any time while Tenant is in default of this provision, following twenty (20) days' notice and an opportunity to resubmit drawings during such twenty (20) day period in addition to any and all other remedies provided in this Lease, by notice to Tenant, following twenty (20) days' notice and an opportunity to resubmit drawings during such twenty (20) day period declare this Lease null and void and of no further force or “Final Plans”). Xxxxxxxx and Xxxxxx agree to work together reasonably and effect, in good faith which event this Lease shall terminate, but Tenant shall remain liable for all obligations arising during the original stated term as provided in this Lease, provided that Tenant shall not remain liable for the obligations arising during the initial term of this Lease if this Lease is terminated during the first five (5) months following the date hereof solely as a result of the inability to agree upon Store Design Drawings or Store Working Drawings and Specifications and not as a result of Tenant's failure to submit such Store Design Drawings and Working Drawings and Specifications within the full scope required time periods. In addition, if Landlord determines that Landlord and Tenant are unable to agree upon Working Drawings and Specifications (and Demolition Drawings, as applicable), Landlord shall have the option, upon twenty (20) days notice to Tenant an opportunity for Tenant to cure during such twenty (20) day period, to declare this Lease null and void and of no further force or effect, in which event this Lease shall terminate on the date specified in such notice, in the same manner as provided in the preceding sentence. No deviation from the final set of plans and specifications, once approved by the Landlord, shall be made by Tenant without Landlord's prior written consent, which shall not, as to Tenant's original design, be arbitrarily withheld solely as to provided Tenant may make immaterial variances from the approved plans which do not change the overall appearance of the leased premises as approved by Landlord and which are consistent with the provisions of this Lease. In no event, however, shall Tenant Improvements, which will be reflected in detailed construction planspermitted to deviate from the sign or storefront design or any components of the leased premises visible from the exterior of the leased premises approved by Landlord without first obtaining Landlord's written approval. Approval of the plans and specifications by Landlord shall pay not constitute the assumption of any responsibility by Landlord or Landlord's architect for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). their accuracy, efficacy or sufficiency, and Tenant shall be solely responsible for such items. Unless Landlord otherwise directs in writing, Tenant shall not open the amount leased premises for business until all construction has been completed pursuant to the provisions of Exhibit B. Until such time as Tenant's final Working Drawings and Specifications (and Demolition Drawings, as applicable) have been approved in writing by which Landlord, the Costs exceed right of Tenant to enter upon the Allowance (“Excess Allowance”)leased premises shall be solely for the purpose of inspection, however measurement and obtaining information necessary to extent prepare architectural drawings and construct its premises. Tenant shall not be deemed to have taken possession of the leased premises until, and Landlord agrees shall be deemed to have delivered and Tenant shall be deemed to have taken such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result possession when, Tenant actually commences construction of its leasehold improvements following Landlord's approval of Tenant’s deviation 's final Working Drawings and Specifications (and Demolition Drawings, as applicable). Until Tenant is so deemed to have taken possession, in the event of a default by Tenant under this Article V, Landlord, upon twenty (20) days' notice to Tenant an opportunity for Tenant to cure during such twenty (20) day period shall have the right to declare this Lease null and void and of no further force or effect and thereafter may demise and lease the premises described in Section 1.01 free from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be the sole responsibility any rights of Tenant. Except Tenant shall not open its store for business until Tenant's storefront sign is installed, the store is fully fixtured, lighted, stocked with respect merchandise in place and staffed, and Tenant is prepared to delays caused by Xxxxxx’s neglect, wrongful actions, or wrongful omissions, engage in the sale of goods and/or services to the public pursuant to Article VII. Landlord shall remove the storefront barricade (or Tenant Change Orders or other shall remove the same if so directed in writing by Landlord) when Tenant caused delaysis so prepared to open for business, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate reimburse Landlord for all costs and expenses in connection with such removal (or Tenant shall pay for all such costs and expenses directly (including transportation of the barricade to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items storage in the regional retail development), if Tenant Improvementsshall be directed by Landlord to perform such removal). No later than thirty (30) days after If all or any part of the parties’ execution of said “punch list”leased premises shall have been previously occupied, Landlord shall complete all items identified on said “punch list”. Landlord and Tenant acknowledge acknowledges that the Tenant's Work described in Exhibit B has been initially performed by a tenant previously occupying the leased premises and that Tenant Improvement plans attached accepts the leased premises in an "as Exhibits A is" condition without representation by the Landlord or any person, firm or corporation on behalf of Landlord as to the condition thereof. Tenant shall submit Working Drawings and B reflect the parties’ substantial agreement regarding Specifications and Demolition Drawings showing the work to be performed in by Tenant to completely remodel and refurbish the Premisesleased premises and, but that certain additional subject to Landlord's approval, will cause such work may need to be performed or adjustments may need to be made prior to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession commencement of the Premises to Tenant term of this Lease. All such additional work and permitted alterations, repairs and improvements shall be in accordance with the provisions of Exhibit B. In the event of an express conflict between Tenant's Landlord-approved plans, on or before the Anticipated Occupancy Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss resulting therefromone hand, and the Lease expiration date terms of this Lease, its exhibits and the Standard Project Details and Construction Information, on the other hand, Tenant's Landlord-approved plans shall control. Provided Tenant is not in default hereunder, Landlord shall pay to Tenant a Tenant reimbursement (solely to reimburse Tenant for costs paid by Tenant in constructing Tenant's leasehold improvements and trade fixtures and equipment) in the sum of Five Hundred Thousand and 00/100ths Dollars ($500,000.00). Four Hundred Fifty Thousand and 00/100ths Dollars ($450,000.00) of such Tenant reimbursement shall be paid by Landlord to Tenant within fifteen (15) days following Tenant's (a) substantial completion of Tenant's Work in the leased premises (with punchlist items remaining) and Tenant's opening for business therein following issuance to Tenant of a Certificate of Occupancy, and (b) delivery to Landlord of (i) invoices marked paid by contractors, subcontractors and materialmen (provided materialmen shall be required to be listed only if the materialmen's contract exceeds Fifteen Thousand Dollars ($15,000.00) which performed work or provided materials for Tenant's Work, (ii) with contracts aggregating at least ninety (90%) of the Lease total cost of Tenant's Work, (ii) unconditional waivers of lien from contractors, subcontractors and materialmen with contracts aggregating at least ninety percent (90%) of the total cost of Tenant's), and (iii) a sworn statement from Tenant and Tenant's general contractor listing all contractors, subcontractors and materialmen which have performed work or supplied materials with respect to Tenant's Work and certifying the amounts they have been paid. After payment of Four Hundred Fifty Thousand Dollars ($450,000) of the Tenant reimbursement the remaining Fifty Thousand and 00/100ths Dollars ($50,000.00) shall not be affectedpaid within fifteen (15) days after Tenant's completion of punchlist items and submittal to Landlord of unconditional waivers of lien covering the remaining ten percent (10%) of the cost of Tenant's Work. Upon Landlord's payment of the Tenant reimbursement, but from title to Tenant's trade fixtures and after restaurant equipment originally installed in the Lease Commencement Dateleased premises as part of Tenant's Work (excluding replacements, and new equipment and trade fixtures installed later) shall vest in Landlord (provided Tenant shall be obligated to repair and maintain same during the lease term). For purposes of tax and accounting treatment only, Tenant shall receive a credit be deemed to own those leasehold improvements paid for by Tenant without use of one (1) free day of rent for each day of delay after the Lease Commencement Date until Tenant reimbursement payment. Upon written direction from Tenant, Landlord agrees to forward the Occupancy Date.
b. Notwithstanding anything herein Tenant reimbursement payments directly to Tenant's General Contractor, rather than to Tenant. In the event Tenant shall have satisfied all conditions to the contrary, if Xxxxxxxx’s failure to deliver the Premises to Tenant on the Lease Commencement Date with payment of the Tenant Improvements substantially completed Inducement and Landlord shall have failed to pay all or any portion of the same, then Tenant shall have the right to offset against rent and charges due hereunder the amount actually owed by Landlord to Tenant, provided that any wrongful offsetting against rent and charges due hereunder shall constitute a default for which Tenant is substantially the result of Landlord’s neglect, negligence or willful misconduct, in addition not entitled to any rights notice or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equitycure rights.
Appears in 1 contract
Construction of Leased Premises. a. Promptly following A. Lessor’s Work. Lessor agrees that it will supply, at its own expense, the Effective Date, Landlord, on a turnkey basis, shall construct the Tenant Improvements (defined below) in accordance with the Floor Plan (Exhibit A), work described and the “Tenant Space Finish Work” as set forth in Exhibit B on Addendum B, annexed hereto and made a part hereof (Exhibits A and B shall be referred to collectively as the “Tenant Improvements” or “Final PlansLessor’s Work”). Xxxxxxxx Lessor shall contribute not more than Five Hundred Forty Two Thousand Three Hundred Eighty Eight and Xxxxxx agree to work together reasonably and in good faith to agree upon the full scope of the Tenant Improvements, which will be reflected in detailed construction plans. Landlord shall pay for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf No Cents Dollars ($197,200.00542,388.00) (the “Allowance”)) towards all costs associated with Lessor’s Work which costs shall include, but not be limited to, architectural and engineering fees, labor, materials, and permits, and the Lessor’s construction management fee of five (5%) percent. Tenant shall be solely responsible for In the amount by which event the Costs exceed plans and construction requirements shown on the plan in Addendum B require materials and labor or other costs beyond the scope specified in Addendum B, or to the extent total costs of said work exceeds the Allowance (“Excess AllowanceCosts”), however these Excess Costs shall be payable to extent Landlord agrees the Lessor by the Lessee as follows: Fifty Percent (50%) of the estimated Excess Costs prior to commencement of Lessor’s Work and the balance of all Excess Costs upon the issuance of a Certificate of Occupancy for the Premises. Lessee may elect to amortize not more than Sixty Eight Thousand Eight Hundred Dollars ($68,000.00) of Excess Costs (“Amortized Excess Costs”) over the term of the Lease and pay such Amortized Excess Allowance may Costs in monthly installments of $20.28 per $1,000.00 amortized, together with Rent as Additional Rent for the entire term of the Lease. Under no circumstances shall Lessee occupy the Premises prior to making full payment to Lessor of all Excess Costs not amortized as noted above. Lessor’s Work will be amortized into performed by Lessor in compliance with the Base Annual Rentfollowing:
(i) The Lessor’s Work shall be diligently performed by Lessor and prosecuted to completion in a good and workmanlike manner, in compliance with all applicable laws, ordinances, codes, regulations and covenants.
(ii) Lessor shall solicit at least three (3) bids from general contractors selected by Lessor and approved by Lessee, approval shall not be unreasonably withheld, and Lessor and Lessee shall jointly select the winning bid or bids. Any additional costs incurred or All contractors from whom bids are solicited must be properly licensed, experienced and insured. Lessor shall then engage the contractors so selected pursuant to industry-standard contracts.
(iii) Lessor shall be responsible for filing the plans for Lessor’s Work with, and obtaining any permits and inspections as needed from time delays as a result of Tenant’s deviation to time, from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx appropriate governmental authorities.
(“Tenant Change Orders”), and shall be the sole responsibility of Tenant. Except with respect to delays caused by Xxxxxx’s neglect, wrongful actions, or wrongful omissions, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5iv) business days following Upon substantial completion of the Tenant ImprovementsLessor’s Work, Landlord Lessee and Tenant Lessor shall cooperate to execute inspect the Premises and generate a mutually agreeable list of “punch punch-list” identifying items, if any, which punch list items Lessor agrees to complete within a reasonable time thereafter.
(v) During the performance of the Lessor’s Work and thereafter, Lessor shall enforce all available warranties and shall permit Lessee to enforce any incomplete and unacceptable items in such warranties directly at Lessee’s option.
(vi) After the Tenant Improvements. No later than thirty (30) days after the parties’ execution date of said “punch list”this Lease, Landlord shall complete all items identified on said “punch list”. Landlord and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding the work to be performed in the Premises, but that certain additional work may need to be performed any changes or adjustments may need to be made upgrades to the proposed Tenant Improvements. Xxxxxxxx approved plans shall be mutually agreed upon in writing by both Lessor and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession of the Premises to Tenant on or before the Anticipated Occupancy Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss resulting therefrom, and the Lease expiration date of the Lease shall not be affected, but from and after the Lease Commencement Date, Tenant shall receive a credit of one (1) free day of rent for each day of delay after the Lease Commencement Date until the Occupancy DateLessee.
b. Notwithstanding anything herein to the contrary, if Xxxxxxxx’s failure to deliver the Premises to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result of Landlord’s neglect, negligence or willful misconduct, in addition to any rights or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equity.
Appears in 1 contract
Samples: Lease Agreement (Ameripath Inc)
Construction of Leased Premises. a. Promptly following the Effective Date, Landlord, on a turnkey basis, (a) The leased premises shall construct the Tenant Improvements (defined below) in accordance with the Floor Plan (Exhibit A), and the “Tenant Space Finish Work” be constructed substantially as set forth in Exhibit B, which is attached hereto and made a part hereof. Each of the parties hereto does hereby agree to perform the obligations imposed upon such party in said Exhibit B (Exhibits A at the times and in the manner therein provided. All references in the text of the Lease to Exhibit B shall include Exhibit B-1, if any. Minor changes from any plans or specifications covering Landlord's Work which may be, or which may have been, necessary or appropriate during construction of the Development or leased premises shall not affect or change this Lease or invalidate same. If this Lease is executed after the opening of the entertainment and retail center or if the leased premises are in an expansion wing of the entertainment and retail center which opened prior to the date of this Lease, the parties hereto acknowledge that the work to be referred performed by Landlord pursuant to collectively as Exhibit B has been fully performed (except to the “Tenant Improvements” or “Final Plans”extent specifically otherwise set forth in Exhibit B). Xxxxxxxx SEE ATTACHED RIDERS FOR INSERTS Tenant agrees, prior to the commencement of the term of this Lease, at Tenant's sole cost and Xxxxxx agree expense, to provide all work together reasonably of whatsoever nature in accordance with its obligations set forth in Exhibit B as "Tenant's Work." Tenant agrees to furnish to Landlord the Preliminary Plans and Final Plans (and Demolition Drawings, as applicable) with respect to the leased premises prepared in good faith the manner and within the time periods required in Exhibit B. If such Preliminary Plans and Final Plans (and Demolition Drawings, as applicable) are not furnished by Tenant to Landlord within the required time periods in form to permit approval by Landlord, then Landlord may at its option at any time while Tenant is in default of this provision, in addition to any and all other remedies provided in this Lease, by notice to Tenant declare this Lease null and void and of no further force or effect, in which event this Lease shall terminate, but Tenant shall remain liable for all obligations arising during the original stated term as provided in this Lease. In addition, if Landlord determines that Landlord and Tenant are unable to agree upon either Preliminary Plans or Final Plans (and Demolition Drawings, as applicable), Landlord shall have the full scope option, upon notice to Tenant, to declare this Lease null and void and of no further force or effect, in which event this Lease shall terminate on the date specified in such notice, in the same manner as provided in the preceding sentence. No deviation from the final set of plans and specifications, once approved by the Landlord, shall be made by Tenant without Landlord's prior written consent. Approval of the Tenant Improvements, which will be reflected in detailed construction plans. plans and specifications by Landlord shall pay not constitute the assumption of any responsibility by Landlord or Landlord's architect for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). their accuracy, efficacy or sufficiency, and Tenant shall be solely responsible for such items. Unless Landlord otherwise directs in writing, Tenant shall not open the amount leased premises for business until all construction has been completed pursuant to the provisions of Exhibit B. Until such time as Tenant's Final Plans (and Demolition Drawings, as applicable) have been approved in writing by which Landlord, the Costs exceed right of Tenant to enter upon the Allowance (“Excess Allowance”)leased premises shall be solely for the purpose of inspection, however measurement and obtaining information necessary to extent prepare architectural drawings and construct its premises. Tenant shall not be deemed to have taken possession of the leased premises until, and Landlord agrees shall be deemed to have delivered and Tenant shall be deemed to have taken such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result possession when, Tenant actually commences construction of its leasehold improvements following Landlord's approval of Tenant’s deviation 's Final Plans (and Demolition Drawings, as applicable). Until Tenant is so deemed to have taken possession, in the event of a default by Tenant under this Article V, Landlord, upon notice to Tenant, shall have the right to declare this Lease null and void and of no further force or effect and thereafter may demise and lease the premises described in Section 1.1 free from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be the sole responsibility any rights of Tenant. Except Tenant shall not open its store for business until Tenant's storefront sign is installed, the store is fully fixtured, lighted, stocked with respect merchandise in place and staffed, and Tenant is prepared to delays caused by Xxxxxx’s neglectengage in the sale of goods and/or services to the public pursuant to Article VII. Under no circumstances shall Tenant remove the storefront barricade, wrongful actions, or wrongful omissions, unless Landlord shall specifically otherwise direct in writing. Landlord shall remove the storefront barricade (or Tenant Change Orders or other shall remove the same if so directed in writing by Landlord) when Tenant caused delaysis so prepared to open for business as determined by Landlord, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate reimburse Landlord for all costs and expenses in connection with such removal (or Tenant shall pay for all such costs and expenses directly (including transportation of the barricade to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items storage in the entertainment and retail center), if Tenant Improvementsshall be directed by Landlord to perform such removal). No later than thirty (30) days after If all or any part of the parties’ execution of said “punch list”leased premises shall have been previously occupied, Landlord shall complete all items identified on said “punch list”. Landlord and Tenant acknowledge acknowledges that the Tenant's Work described in Exhibit B has been initially performed by a tenant previously occupying the leased premises and that Tenant Improvement plans attached accepts the leased premises in an "as Exhibits A is" condition without representation by the Landlord or any person, firm or corporation on behalf of Landlord as to the condition thereof. Tenant shall submit Preliminary Plans and B reflect the parties’ substantial agreement regarding Final Plans and Demolition Drawings showing the work to be performed in by Tenant to completely remodel and refurbish the Premisesleased premises and, but that certain additional subject to Landlord's approval, will cause such work may need to be performed or adjustments may need to be made prior to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession commencement of the Premises to Tenant on or before the Anticipated Occupancy Dateterm of this Lease. All such additional work and permitted alterations, this Lease repairs and improvements shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss resulting therefrom, and the Lease expiration date of the Lease shall not be affected, but from and after the Lease Commencement Date, Tenant shall receive a credit of one (1) free day of rent for each day of delay after the Lease Commencement Date until the Occupancy Date.
b. Notwithstanding anything herein to the contrary, if Xxxxxxxx’s failure to deliver the Premises to Tenant on the Lease Commencement Date in accordance with the Tenant Improvements substantially completed is substantially the result provisions of Landlord’s neglect, negligence or willful misconduct, in addition to any rights or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equity.Exhibit B. SEE ATTACHED RIDERS FOR INSERTS
Appears in 1 contract
Samples: Lease (Hart Industries Inc)
Construction of Leased Premises. a. Promptly following the Effective Date, Landlord, on a turnkey basis, shall construct the Tenant Improvements (defined below) in accordance with the Floor Plan (Exhibit A), and the “Tenant Space Finish Work” as set forth in Exhibit B (Exhibits A and B shall be referred to collectively as the “Tenant Improvements” or “Final Plans”). Xxxxxxxx and Xxxxxx agree to work together reasonably and in good faith to agree upon the full scope of the Tenant Improvements, which will be reflected in detailed construction plans. Landlord shall pay for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). Tenant shall be solely responsible for the amount by which the Costs exceed the Allowance (“Excess Allowance”), however to extent Landlord agrees such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result of Tenant’s deviation from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be the sole responsibility of Tenant. Except with respect to delays caused by Xxxxxx’s neglect, wrongful actions, or wrongful omissions, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items in the Tenant Improvements. No later than within thirty (30) days of the execution of this Lease, shall file all necessary documentation and drawings with the Town of Amherst in order to commence the Town of Amherst approval process required for the construction of the Leased Premises. Landlord, within one hundred twenty (120) days after the parties’ execution receipt of said “punch list”all necessary Town of Amherst approvals, shall cause the Leased Premises to be built and completed pursuant to Schedule "B" attached hereto and made a part hereof. The Leased Premises shall be constructed in a good and workmanlike manner. Landlord warrants that the improvements to the Leased Premises will be constructed with new materials of good quality and in accordance with all the currently existing laws, ordinances and statutes of the municipal or State governments. FIFTH: DELAYS IN CONSTRUCTION. In the event that all Schedule "B" improvements have not been completed within one hundred twenty (120) days after the receipt by Landlord of all necessary Town of Amherst approvals Tenant shall have the right but not the obligation to enter into possession of such portions as may be ready for occupancy and Landlord shall complete diligently proceed so as to place the Leased Premises in conformance with Schedule "B" within one hundred eighty (180) days after the receipt by Landlord of all items identified on said “punch list”necessary Town of Amherst approvals. Landlord During such period of partial occupancy, the rent to be paid hereunder shall be apportioned as to include only that floor space actually occupied by Tenant. For the purposes of apportionment of rent under this Paragraph and Tenant acknowledge Paragraph "SEVENTH" only, it is agreed that the space shall be annually let for TEN and 06/100 ($10.06) DOLLARS per square foot. No entering into possession by Tenant Improvement plans attached of any portion of the Leased Premises under the provisions of this paragraph shall constitute waiver of Landlord's obligation to complete unfinished items of construction or to correct defective work so as Exhibits A and B reflect to bring the parties’ substantial agreement regarding the work improvements in accordance with Schedule "B". If Landlord is unable to be performed in the Premises, but that certain additional work may need to be performed or adjustments may need to be made to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession of total Leased Premises within two hundred forty (240) days after the Premises to Tenant on or before the Anticipated Occupancy Datereceipt by Landlord of all necessary Town of Amherst approvals, either party may terminate this Lease without any claim for damages and all advanced rents and security deposits shall not be void or voidable, nor shall refunded by Landlord be liable to Tenant for any loss resulting therefrom, and the Lease expiration date of the Lease shall not be affected, but from and after the Lease Commencement Date, Tenant shall receive a credit of one (1) free day of rent for each day of delay after the Lease Commencement Date until the Occupancy DateTenant.
b. Notwithstanding anything herein to the contrary, if Xxxxxxxx’s failure to deliver the Premises to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result of Landlord’s neglect, negligence or willful misconduct, in addition to any rights or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equity.
Appears in 1 contract
Samples: Lease Agreement (Nco Group Inc)
Construction of Leased Premises. a. Promptly following the Effective Date, Landlord, on a turnkey basis, (a) The Leased Premises shall construct the Tenant Improvements (defined below) in accordance with the Floor Plan (Exhibit A), and the “Tenant Space Finish Work” be constructed substantially as set forth in Exhibit B, which is attached hereto and made a part hereof. Each of the parties hereto does hereby agree to perform the obligations imposed upon such party in said Exhibit B (Exhibits A at the times and in the manner therein provided. All references in the text of the Lease to Exhibit B shall include Exhibit B-1. Minor changes from any plans or specifications covering Landlord’s Work which may be, or which may have been, necessary or appropriate during construction of the Shopping Center or Leased Premises shall not affect or change this Lease or invalidate same. If this Lease is executed after the opening of the regional retail development or if the Leased Premises are in an expansion wing of the regional retail development which opened prior to the date of this Lease, the parties hereto acknowledge that the work to be referred performed by Landlord pursuant to collectively as Exhibit B has been fully performed (except to the “Tenant Improvements” or “Final Plans”extent specifically otherwise set forth in Exhibit B). Xxxxxxxx S6 Impossible Kicks/Dolphin Mall/03/21/23 COMMON AREA CHARGE
(b) Tenant agrees, prior to the commencement of the term of this Lease, at Tenant’s sole cost and expense, to provide all work of whatsoever nature in accordance with its obligations set forth in Exhibit B as “Tenant’s Work.” Xxxxxx agree agrees to work together reasonably furnish to Landlord the Working Drawings and Specifications (and Demolition Drawings, as applicable) with respect to the Leased Premises prepared in good faith the manner and within the time periods required in Exhibit B. If such Working Drawings and Specifications (and Demolition Drawings, as applicable) are not furnished by Tenant to Landlord within the required time periods in form to permit approval by Landlord, then Landlord may at its option at any time while Tenant is in default of this provision, in addition to any and all other remedies provided in this Lease, by notice to Tenant, declare this Lease null and void and of no further force or effect, in which event this Lease shall terminate, but Tenant shall remain liable for all obligations arising during the original stated term as provided in this Lease. In addition, if Landlord determines that Landlord and Tenant are unable to agree upon Working Drawings and Specifications (and Demolition Drawings, as applicable), Landlord shall have the full scope option, upon notice to Tenant, to declare this Lease null and void and of no further force or effect, in which event this Lease shall terminate on the date specified in such notice, in the same manner as provided in the preceding sentence. No deviation from the final set of plans and specifications, once approved by Landlord, shall be made by Tenant without Xxxxxxxx’s prior written consent. Approval of the Tenant Improvements, which will be reflected in detailed construction plans. plans and specifications by Landlord shall pay not constitute the assumption of any responsibility by Landlord or Landlord’s architect for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). their accuracy, efficacy or sufficiency, and Tenant shall be solely responsible for such items. Unless Landlord otherwise directs in writing, Tenant shall not open the amount Leased Premises for business until all construction has been completed pursuant to the provisions of Exhibit B. Until such time as Tenant’s final Working Drawings and Specifications (and Demolition Drawings, as applicable) have been approved in writing by which Landlord, the Costs exceed right of Tenant to enter upon the Allowance (“Excess Allowance”)Leased Premises shall be solely for the purpose of inspection, however measurement and obtaining information necessary to extent prepare architectural drawings and construct its premises. Tenant shall not be deemed to have taken possession of the Leased Premises until, and Landlord agrees shall be deemed to have delivered and Tenant shall be deemed to have taken such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result possession when, Tenant actually commences construction of its leasehold improvements following Landlord’s approval of Tenant’s deviation final Working Drawings and Specifications (and Demolition Drawings, as applicable). Until Tenant is so deemed to have taken possession, in the event of a default by Tenant under this Article V, Landlord, upon notice to Tenant, shall have the right to declare this Lease null and void and of no further force or effect and thereafter may demise and lease the Premises described in Section 1.01 free from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be the sole responsibility any rights of Tenant. Except Tenant shall not open its store for business until Tenant’s storefront sign is installed, the store is fully fixtured, lighted, stocked with respect merchandise in place and staffed, and Tenant is prepared to delays caused by Xxxxxx’s neglectengage in the sale of goods and/or services to the public pursuant to Article VII. Under no circumstances shall Tenant remove the storefront barricade, wrongful actions, or wrongful omissions, unless Landlord shall specifically otherwise direct in writing. Landlord shall remove the storefront barricade (or Tenant Change Orders or other shall remove the same if so directed in writing by Landlord) when Tenant caused delaysis so prepared to open for business as determined by Landlord, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate reimburse Landlord for all costs and expenses in connection with such removal (or Tenant shall pay for all such costs and expenses directly (including transportation of the barricade to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items storage in the regional retail development), if Tenant Improvementsshall be directed by Landlord to perform such removal). No later than thirty (30) days after If all or any part of the parties’ execution Leased Premises shall have been previously occupied, Tenant acknowledges that Xxxxxx’s Work described in Exhibit B has been initially performed by a tenant previously occupying the Leased Premises and that Tenant accepts the Leased Premises in an “as is” condition without representation by Landlord or any person, firm or corporation on behalf of said “punch list”, Landlord as to the condition thereof. Tenant shall complete all items identified on said “punch list”. Landlord submit Working Drawings and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A Specifications and B reflect the parties’ substantial agreement regarding Demolition Drawings showing the work to be performed in by Xxxxxx to completely remodel and refurbish the PremisesLeased Premises and, but that certain additional subject to Landlord’s approval, will cause such work may need to be performed or adjustments may need to be made prior to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession commencement of the Premises to Tenant on or before term of this Lease. All such additional work and permitted alterations, repairs and improvements shall be in accordance with the Anticipated Occupancy Date, provisions of Exhibit B.
(c) Upon execution of this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss resulting therefrom, and the Lease expiration date of the Lease shall not be affected, but from and after the Lease Commencement DateLease, Tenant shall receive pay to Landlord, as a credit reimbursement to Landlord for costs and expenses with respect to the Leased Premises, the sum set forth in the Data Sheet as “Tenant Reimbursement to Landlord.” The payment of one (1) free day such sum by Tenant shall not in any manner reduce or limit the obligation of rent Tenant for each day payment of delay after other charges under this Lease, including, without limitation, the Lease Commencement Date until charges set forth in the Occupancy Date.
b. Exhibits attached hereto. Notwithstanding anything herein to the contrary, if Xxxxxxxx’s failure to deliver the Premises to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result of Landlord’s neglect, negligence or willful misconductcontrary contained in this Lease, in addition the event that Landlord is subject to any rights or remedies specifically set forth hereinincurs impact fees from the local municipality, County or State government(s) due to Tenant’s particular manner of use of the Leased Premises, then Tenant shall retain all reimburse Landlord the actual amount of its rights and remedies at law and in equity.the impact fee(s) incurred within ten (10) days after said fees are due. S7 Impossible Kicks/Dolphin Mall/03/21/23 COMMON AREA CHARGE
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)
Construction of Leased Premises. a. Promptly following the Effective Date(a) Landlord agrees to obtain all necessary permits and approvals for construction, Landlord, on a turnkey basis, shall and to construct the Tenant Improvements (defined below) Leased Premises in accordance with the Floor Plan scope of work, and Tenant's Request For Proposals, General Specifications, Outline Specifications and Typical Drawings attached in Exhibit "B" (the "Scope of Work") and plans and construction contract approved by Tenant. Once approved by the parties, such plans shall be referred to herein as the "Approved Plans." The Approved Plans shall be attached or referenced in Exhibit A"B-2" attached hereto and incorporated herein. The work set forth on the Scope of Work and Approved Plans may sometimes be referred to herein as "Landlord's Work." Landlord shall deliver the Leased Premises to Tenant upon Substantial Completion of Landlord's Work. Landlord shall use its commercially reasonable efforts to deliver all areas of the warehouse other than the mezzanine and premises beneath the mezzanine by May, 7, 2010, the mezzanine area by June 8, 2010, the office and retail space by July 22, 2010 (each such date being herein referred to as an "Interim Construction Date"), and the “Tenant Space Finish Work” as set forth in Exhibit B (Exhibits A and B shall be referred to collectively as the “Tenant Improvements” or “Final Plans”). Xxxxxxxx and Xxxxxx agree to work together reasonably and in good faith to agree upon the full scope remainder of the Tenant Improvements, which will be reflected in detailed construction plans. Landlord shall pay for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). Tenant shall be solely responsible for the amount by which the Costs exceed the Allowance (“Excess Allowance”), however to extent Landlord agrees such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result of Tenant’s deviation from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be the sole responsibility of Tenant. Except with respect to delays caused by Xxxxxx’s neglect, wrongful actions, or wrongful omissions, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items in the Tenant Improvements. No later than thirty (30) days after the parties’ execution of said “punch list”, Landlord shall complete all items identified on said “punch list”. Landlord and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding the work to be performed in the Premises, but that certain additional work may need to be performed or adjustments may need to be made to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession of the Leased Premises to Tenant on or before August 1, 2010 (the Anticipated Occupancy final delivery of all of the Leased Premises being referred to as the "Delivery Date"). Subject to any delay caused by, through or under Tenant and any delays caused by or arising out of the matters or items described under Section 8.01 and 16.03 of this Lease (collectively, a "Delay"), and predicated on adherence by Tenant to the schedule set forth on Exhibit "H", attached hereto and by this reference incorporated herein, if Landlord does not deliver the portions of the Leased Premises described above by the applicable Interim Construction Date, and Landlord does not cure such failure within ten (10) days after the applicable Interim Construction Date specified for the portion of the Leased Premises set forth above, or if Landlord does not deliver possession of the Leased Premises to Tenant on or before August 1, 2010, Tenant shall receive (2) days of free Base Rent for each day after the applicable Interim Construction Date or Delivery Date (as any such date is extended by any days of Delay), until the applicable portion of the Leased Premises (or all of the Leased Premises, as applicable) are so delivered by Landlord. For example, if Landlord does not deliver the mezzanine area to Tenant until June 15, 2010, then there shall be no additional free Base Rent granted, but if Landlord does not deliver the mezzanine area to Tenant until June 20, 2010, then Tenant shall be entitled to an additional twenty-four (24) days of free Base Rent.
(b) Subject to any Delay, and predicated on adherence by Tenant to the schedule set forth on Exhibit "H'', if Landlord does not deliver possession of the Leased Premises to Tenant Substantially Completed on or before September 1, 2010 (as such date is extended by any days of Delay), Tenant may elect to cancel and terminate this Lease by giving written notice to Landlord within ten (10) days thereafter, unless Landlord, within said ten (10) day period, so delivers such Leased Premises to Tenant. If Tenant gives such notice and Landlord does not deliver the Leased Premises within ten (10) days thereafter, this Lease shall be canceled and terminated, and neither Landlord nor Tenant shall have any further obligations to the other, excepting only those obligations which have accrued prior to or which expressly survive termination of this Lease. If Tenant does not timely give such notice, Tenant's right to cancel and terminate this Lease shall expire and the Lease Term shall commence upon the delivery of possession of the Leased Premises to Tenant. Landlord and Tenant agree, at the time the Leased Premises are delivered to Tenant, to execute the Commencement Date Certificate referenced in Section 2.01 above setting forth the date the Leased Premises are actually delivered to Tenant. In the event of any dispute concerning work performed or required to be void performed in the Premises by Landlord, the matter in dispute shall be submitted to Landlord's architect for determination and his certificate with respect thereto shall be conclusively binding on Landlord and Tenant.
(c) Landlord has determined that the construction of interior areas of the Building as set forth in the Scope of Work shown on Exhibit "B" and Approved Plans shall be $5,069,000.00 (the "Cost of Interior Construction"). The Cost of Interior Construction is to be utilized for the "hard" costs of construction, and shall not include the overhead or voidableany profit for Landlord, nor overtime costs and expenses of the contractor, site conditions, or the design costs and engineering fees and permit fees. If Tenant makes or requests: (i) changes in the Scope of the Work; (ii) consent to any Approved Plans which reflect differences from the Scope of the Work; or (iii) changes in the work being done under such Approved Plans after approval of the Approval Plans, any of which increase the Cost of Interior Construction or which would delay Substantial Completion, then any such requests or matters shall be subject to Landlord's prior consent, such consent of Landlord not to be liable unreasonably withheld, conditioned or delayed and, in any event, all increased Costs of interior Construction associated with such changes shall be paid for by Tenant, prior to such changes being incorporated or effectuated. The cost of certain of the work Landlord is performing, as shown on Exhibit "B-1", by this reference incorporated herein, is not being funded from the Cost of Interior Construction, and is being done at Landlord's cost and expense prior to the Commencement Date. If the foregoing is completed for a cost which is less than the Cost of Interior Construction, any remaining sums shall be applied to reduce the next-ensuing installments of Base Rent.
(d) Tenant shall have the right of early occupancy of warehouse, mezzanine, office and retail areas of the Leased Premises, subject to (a) full execution of this Lease, (b) Landlord's receipt of the initial monthly installment of Base Rent, (c) Landlord's and Tenant's receipt of any necessary governmental permits, approvals, or consents, and (d) all of the terms and conditions of this Lease, with the exception of the payment of Rent. Such early occupancy shall be for the sole purpose of preparing the Leased Premises for Tenant's use, including the installation of equipment and racking, and storage of Tenant's products. During such period, Tenant shall assume all risk of loss to Tenant's equipment, products, and other personal property. Tenant's occupancy during this period shall not interfere with construction of Landlord's Work by Landlord's contractor, and Tenant shall coordinate its preparation activities with Landlord's contractor to minimize any loss resulting therefromsuch interference.
(e) At the time Tenant takes possession of each of the areas of the Leased Premises for the operation of Tenant's business, the parties shall draw up a list of minor finishing operations which do not materially interfere with Tenant's operations ("Punch List Items"). All Punch List Items shall be completed within thirty (30) days of "Substantial Completion", or as soon thereafter as reasonably practical.
(f) For the purposes of this Lease, Substantial Completion shall mean the completion of all elements of the Leased Premises, in substantial compliance with the Scope of Work and Approved Plans, as evidenced by an architect's certificate of substantial completion, and the Lease expiration date issuance of a certificate of occupancy, temporary or otherwise, permitting the lawful entry into and occupancy of the Lease shall not be affected, but from and after the Lease Commencement Date, Tenant shall receive a credit of one (1) free day of rent for each day of delay after the Lease Commencement Date until the Occupancy DateLeased Premises.
b. Notwithstanding anything herein to the contrary, if Xxxxxxxx’s failure to deliver the Premises to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result of Landlord’s neglect, negligence or willful misconduct, in addition to any rights or remedies specifically set forth herein, Tenant shall retain all of its rights and remedies at law and in equity.
Appears in 1 contract
Construction of Leased Premises. a. Promptly following 3.1 At Landlord’s sole expense, and pursuant to all appropriate permits and licenses and in compliance with the Effective Datelocal building and zoning codes, Landlord, on a turnkey basis, shall Landlord agrees to construct the Tenant Improvements Leased Premises (defined below“Landlord’s Work”) in accordance with Exhibit “A” (Diagram of Leased Premises) and Exhibit “B” (Building Standards and Tenant Standards) attached hereto, each page having been initialed by the Floor Plan (Exhibit A), and the “Tenant Space Finish Work” as set forth in Exhibit B (Exhibits A and B shall be referred to collectively as the “Tenant Improvements” or “Final Plans”). Xxxxxxxx and Xxxxxx agree to work together reasonably and in good faith to agree upon the full scope of the Tenant Improvements, which will be reflected in detailed construction plans. Landlord shall pay for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). parties.
3.2 Tenant shall be solely responsible for have the amount by which the Costs exceed the Allowance (“Excess Allowance”), however right to extent Landlord agrees such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result of Tenant’s deviation from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by Xxxxxx (“Tenant Change Orders”), and shall be the sole responsibility of Tenant. Except with respect to delays caused by Xxxxxx’s neglect, wrongful actions, or wrongful omissions, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items changes in the Tenant Improvements. No later than thirty (30) days after the parties’ execution of said “punch list”, Landlord shall complete all items identified on said “punch list”. Landlord and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding Plans or in the work to be performed by Landlord, provided, however, that such changes do not cause delay in the Premises, but completion of construction and that certain additional either (i) such changes will not increase the cost of construction or (ii) Tenant shall have undertaken to reimburse Landlord for any increase in such cost resulting therefrom.
3.3 All work may need to be completed by Landlord is to be performed or adjustments may need to in a good and workmanlike manner and in accordance with industry standard.
3.4 Landlord shall notify Tenant when the Leased Premises have been Substantially Completed. It is the expectation of Landlord and Tenant that the Leased Premises will be made to the proposed Tenant Improvements. Xxxxxxxx and Xxxxxx agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession of the Premises to Tenant Substantially Completed on or before the Anticipated Occupancy Commencement Date. In the event the Leased Premises will not be Substantially Completed by that date, Landlord shall give Tenant prompt written notice of the expected completion date. If Landlord’s work is not Substantially Completed on or before the Commencement Date, Landlord shall have no liability to Tenant, and this Lease shall remain in full force and effect, except that rental payments shall not commence until Tenant is able to partially or beneficially occupy the Leased Premises. Rental payments shall be void calculated only on the space that Tenant partially or voidablebeneficially occupies.
3.5 Landlord’s Work shall be deemed to be “Substantially Completed” when all such work has been completed and Tenant can occupy without governmental intervention, nor shall Landlord except for punch list items which may be liable to Tenant for any loss resulting therefrom, and the Lease expiration date performed without material interference with Tenant’s occupancy of the Lease Leased Premises. Landlord shall not be affected, but from and after complete the Lease Commencement Date, Tenant shall receive a credit of one (1) free day of rent for each day of delay after the Lease Commencement Date until the Occupancy Datepunch list items with all reasonable dispatch.
b. 3.6 Notwithstanding anything contained herein to the contrary, if Xxxxxxxx’s failure to deliver during the Premises to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result progress of Landlord’s neglectWork and prior to Substantial Completion, negligence or willful misconductTenant, in addition to its employees, agents, contractors and representatives may enter the Leased Premises for inspections, measurements, installation of computer wiring and hardware and telephone wiring and equipment and any rights or remedies specifically set forth hereinother similar purposes, Tenant shall retain all of its rights and remedies at law and in equityso long as such entries do not interfere with Landlord’s Work.
Appears in 1 contract
Samples: Lease (Precision Therapeutics Inc)
