Common use of Date of Delivery of Possession Clause in Contracts

Date of Delivery of Possession. Landlord shall use reasonable efforts to deliver the Premises to Tenant in the condition required by the succeeding sentence on or before the date that is 120 days after Landlord’s receives all building permits necessary to complete the Work (defined below) (the “Target Commencement Date”). The “Date of Delivery of Possession” shall be the day that Landlord delivers possession of the Premises to Tenant free and clear of all other tenants and occupants and with the Work substantially completed. The Work shall be deemed to be substantially complete on the date (the “Substantial Completion Date”) when (i) the Work has been completed in accordance with the Approved Specifications (as defined in Section 5.1) to the extent reasonably necessary to enable Tenant to fully conduct its business in the Premises and subject to completion of any punch list items as described in Section 5.2, and (ii) Landlord shall have obtained and delivered to Tenant a temporary or permanent certificate of occupancy for the Premises (in the case of a temporary certificate of occupancy, subject only to the punch list items described in Section 5.2). In no event shall Landlord be liable for any delay or failure to deliver the Premises, except that Tenant shall be entitled to one (1) day of free Fixed Rent for each day after the Target Commencement Date that Landlord fails to deliver the Premises to Tenant (other than as a result of force majeure or a Tenant Delay (as hereinafter defined)). In the event of any such delay, the “Commencement Date” shall be the date that Tenant is required to commence paying Fixed Rent hereunder, and the term of this Lease shall be extended accordingly. Notwithstanding the foregoing, if the Date of Delivery of Possession is actually delayed as a result of a Tenant Delay, then the Commencement Date shall be deemed to have occurred on the date it would have occurred but for such Tenant Delay. “Tenant Delay” shall mean any delay in the completion of the Work attributable to Tenant, including, without limitation (i) Tenant’s failure to meet any time deadlines specified herein, (ii) change orders requested by Tenant, (iii) the performance of any other work in the Premises by any person, firm or corporation employed by or on behalf of Tenant, or any failure to complete or delay in completion of such work, and/or (iv) any other act or omission of Tenant.