Common use of Date of Delivery and Legal Effect of the Agreement Clause in Contracts

Date of Delivery and Legal Effect of the Agreement. The Landlord will deliver a Substantially Completed (as defined in Clause 1.07 above) Cold Shell Building to Tenant no later than November 30th, 2015 provided the execution date of this Lease Agreement takes place before August 7th, 2015. If delivery of Cold Shell Building to Tenant by Landlord is delayed more than three months after the original delivery date, Tenant shall have the right to terminate the Lease Agreement. If parties agree to execute the CMA for Cold Shell Building improvements (within two weeks of Lease Agreement execution) then Date of Delivery shall be deemed as the date when Cold Shell Building and Improvements is delivered to Tenant. Such delivery shall occur as per the master schedule delivery date agreed on the Improvements CMA Agreement. Notwithstanding anything to the contrary in this Lease, Tenant's acceptance of the Premises shall not be deemed a waiver of Tenant's right to have defects in the Premises repaired at Landlord's sole expense. Tenant shall give notice to Landlord whenever any such defects become reasonably apparent, and Landlord will use its best efforts to repair such defects within twenty (20) days after receipt of written notice from Tenant; unless otherwise agreed among parties. The rights and obligations of Tenant to enter the Premises shall be effective upon the Xxxxxxx'x acceptance of the Delivery of the Premises. Legal effects regarding the use and enjoyment rights, as well as Tenant's rights and obligations as park tenants shall commence as of the execution of this Lease Agreement.

Date of Delivery and Legal Effect of the Agreement. The Landlord will shall deliver a Substantially Completed the Leased Real Estate on or before November 1st, 2009 (as defined in Clause 1.07 above) Cold Shell Building to Tenant no later than November 30th, 2015 provided the execution date "Date of Delivery"). For all purposes of this Lease Agreement takes place before August 7thAgreement, 2015. If delivery of Cold Shell Building to Tenant by Landlord is delayed more than three months after the original delivery date, Tenant shall have the right to terminate the Lease Agreement. If parties agree to execute the CMA for Cold Shell Building improvements (within two weeks of Lease Agreement execution) then Date of Delivery shall be deemed to have occurred five (5) business days following a written communication to Tenant, notifying the Substantial Completion of the Leased Real Estate. Substantial Completion shall be understood as having completed the date when Cold "Landlord's Shell Building Scope of Work" attached hereto as Exhibit One, in more than ninety-five (95%) percent, (the "Substantial Completion). Forty eight (48) hours following the reception of the report of inspections, Tenant shall present Landlord a written acceptance or opposition of the delivery of the Leased Real Estate. At the Date of Delivery primary sanitary, electrical, and Improvements is delivered to potable water accesses at connection points must have been completed and shall be in good order and operating condition. Landlord and Tenant shall agree in writing on or before the Date of Delivery, on a list of pending works (hereinafter the "Punch List"). The Punch List shall specify the civil, architectural, mechanical and electrical items that are incomplete which, in the aggregate, are minor in character and do not materially interfere with Tenant's future works in the Leased Real Estate, in accordance with the provisions of this Lease. Such delivery shall occur as per the master schedule delivery date agreed Punch List items works that have not been completed on the Improvements CMA AgreementDate of Delivery shall be completed by Landlord within thirty (30) calendar days following the Date of Delivery, unless otherwise stated. Notwithstanding anything to the contrary in this Lease, Tenant's acceptance of the Premises Leased Real Estate shall not be deemed a waiver of Tenant's right to have defects in the Premises Leased Real Estate repaired at Landlord's sole expense. Tenant shall give notice to Landlord whenever any such defects become reasonably apparent, and Landlord will use its best efforts to shall repair such defects as soon as practicable. In the event that there is a dispute on the Substantial Completion report triggering the Date of Delivery, both the Tenant and the Landlord agree to submit such dispute to an Engineers and Architects Board Arbitration process, in accordance with 'the procedural rules of such institution. The arbitration procedure shall not last more than thirty days and shall determine whether the Leased Real Estate complies with the plans and specifications detailed herein, and both parties will abide by this decision, however the arbitration process will not interfere with the Rent Commencement Date. If the Arbitration process determines that the works are not in compliance, the Lease Real Estate shall not be deemed as delivered, and the Landlord must initiate within twenty five (205) days after receipt any additional work required to complete the Leased Real Estate. In such case Landlord shall also return to the Tenant any Rent paid since the supposed Date of written notice from Delivery, however, if the Arbitration Process determines that the works are in compliance, Landlord shall keep all Rent previously paid by Tenant; unless otherwise agreed among parties. The fact that the Arbitration process has determined that the Leased Real Estate complies with the specifications does not preclude Tenant's right to present claims based on hidden defects in the Leased Real Estate. The rights and obligations of Landlord with regards to the construction of the Leased Real Estate, and the rights and obligations of Tenant to enter the Premises Leased Real Estate on the Date of Delivery, shall be effective upon the Xxxxxxx'x acceptance execution of the Delivery of the Premisesthis Agreement. Legal effects regarding the use and enjoyment rights, as well as Tenant's obligations to pay rent and any other rights and obligations as park tenants tenants, shall commence as of the execution Date of Delivery of the Leased Real Estate. Landlord shall notify Tenant in writing of any delays on the schedule caused by the Tenant or its contractors, in which case the agreed Date of Delivery shall be extended one day for every day of Tenant's delay. If due to changes in the scope of Exhibit One requested by Tenant, or for causes attributable to the Tenant there is a delay in the delivery of the Leased Real Estate (hereinafter a "Tenant Delay"), the Tenant shall begin to pay Rent (as defined in section 2.00 hereof), on the original projected Rent Commencement Date. Notwithstanding the foregoing, the payment of service fees agreed on clause 2.00 hereof, shall commence as of the Date of Delivery (as defined in this Lease Agreementsection 2.02). Parties hereby acknowledge that Landlord shall not be responsible for delays in obtaining permits or in beginning or completing any works, due to the lack of such permits, when it has diligently requested them according to local customary practice, and has not obtained them due to delays by the authority or entity in charge of such permits, in which case, the Date of Delivery shall be adjusted in the same term of the delay.