Common use of CONSTRUCTION OF THE PREMISES Clause in Contracts

CONSTRUCTION OF THE PREMISES. The Landlord and the Tenant agree that their respective rights and obligations in reference to the construction of the Premises shall be as provided herein. Floor 11 either is complete or will be subject to a minor amount of work. None of such work will have an impact on the Commencement Date for Floor 11, which shall be the date provided in Section 1.08. The Allowance, as defined below, shall be determined based on the square footage of both Floor 11 and Floor 12, though Landlord and Tenant acknowledge and agree that Tenant need not spend it equally on the cost of work on Floor 11 and Floor 12, but may spend proportionally more on Floor 12. In addition, the Landlord's Work will be completed in phases and Tenant shall be entitled to apply those portions of the Allowance not spent in early phases to the cost of the work in later phases.