Common use of Delay in Delivery of Premises Clause in Contracts

Delay in Delivery of Premises. If Sublessor, for any reason whatsoever, cannot deliver possession of the Premises to Sublessee on or before the Commencement Date, this Sublease shall not be void or voidable nor shall Sublessor be liable to Sublessee for any resulting loss or damage. However, Sublessee shall not be liable for any Rent and the Commencement Date shall not occur until the Premises are Substantially Complete (as defined in the Work Letter), except that if Sublessor's failure to Substantially Complete the Premises by the Commencement Date is attributable to any action or inaction by Sublessee (including without limitation any Sublessee Delay described in the Work Letter attached this Sublease), then the Commencement Date shall not be advanced to the date on which possession of the Premises is tendered to Sublessee, and Sublessor shall be entitled to full performance by Sublessee (including the payment of Rent) from the date the Premises would have been Substantially Complete but for such Sublessee Delays. Notwithstanding the foregoing, in the event that (a) Sublessee is not then in default under the terms of this Sublease beyond any applicable cure period, (b) the Premises are not Substantially Complete on or before January 31, 1997, as such date may be extended for events of "Sublessee Delay" (as defined in the Work Letter) (the "Drop Dead Date"), then Sublessee, as its sole and exclusive remedy (except as provided for below), shall be entitled to terminate this Sublease by providing Sublessor with written notice thereof no later than February 15, 1997; provided that such written notice shall be null and void, and this Sublease shall continue to be in full force and effect, if Sublessor Substantially Completes the Premises within ten (10) business days of the date Sublessor receives such written notice from Sublessee. If Sublessee shall terminate this Sublease pursuant to this Section 1.2 then Sublessor shall return the Security Deposit, any prepaid Rent and any other sums previously paid by Sublessee to Sublessor in connection with this Sublease, to Sublessee within twenty (20) days thereof and any and all

Appears in 1 contract

Samples: Sub Sublease (Zoran Corp \De\)

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Delay in Delivery of Premises. If Sublessor, for any reason whatsoever, cannot deliver possession of Landlord will use reasonable efforts to substantially complete the Premises to Sublessee Landlord's Work on or before September 1, 1997. If Landlord's Work has not been substantially completed prior to December 31, 1997 (the Commencement Date"Deadline"), this Sublease as the Deadline may be extended by (i) extension occasioned by changes to the Final Plans and Specifications as provided in Section 4.1.5, (ii) delay caused by Tenant's failure to provide Final Plans and Specifications within the time provided in Section 4.1.2, or (iii) action or inaction of governmental agencies or other conditions constituting force majeure, then Landlord shall not be void or voidable nor shall Sublessor be liable to Sublessee promptly pay Tenant, upon demand, all costs and expenses incurred by Tenant for basic rent for any resulting loss premises then occupied by Tenant in Xxxx Valley, Maryland, and in which Tenant is compelled to hold over by reason of the incompletion of the Premises, for each day completion is delayed beyond the Deadline as extended by items (i) through (iii) above. If the Leasehold Improvements have not been substantially completed by May 1, 1998, as extended by items (i) through (iii) above, then Tenant may at any time thereafter give Landlord notice of its intention to terminate this Lease. If Landlord has not substantially completed the Leasehold Improvements within 30 days after Tenant's notice, then this Lease will terminate and will be of no further force or damageeffect, in which case Landlord shall refund or redeliver the Deposit to Tenant. HoweverBut if the Lease is not terminated, Sublessee then Landlord shall not be liable continue to pay Tenant, upon demand, all costs and expenses incurred by Tenant for basic rent for any Rent premises then occupied by Tenant in Xxxx Valley, Maryland, and in which Tenant is compelled to hold over by reason of the incompletion of the Premises, for each day completion is delayed beyond the Deadline as extended by items (i) through (iii) above. If the Commencement Date shall not occur until have occurred within twenty-four (24) months following the Premises are Substantially Complete (as defined in the Work Letter), except that if Sublessor's failure to Substantially Complete the Premises by the Commencement Date is attributable to any action or inaction by Sublessee (including without limitation any Sublessee Delay described in the Work Letter attached date of this Sublease)Lease, then this Lease shall terminate, Landlord shall return any Deposit previously delivered by Tenant, and all rights and obligations of the Commencement Date parties shall terminate, and Landlord shall not be advanced subject to the date on which possession of the Premises is any liability therefor. Termination under this Section shall be Tenant's sole remedy and Tenant shall have no other rights or claims hereunder at law or in equity except that Landlord shall return to Tenant promptly after any termination any Deposit previously tendered to Sublessee, and Sublessor shall be entitled to full performance by Sublessee (including the payment of Rent) from the date the Premises would have been Substantially Complete but for such Sublessee Delays. Notwithstanding the foregoing, in the event that (a) Sublessee is not then in default under the terms of this Sublease beyond any applicable cure period, (b) the Premises are not Substantially Complete on or before January 31, 1997, as such date may be extended for events of "Sublessee Delay" (as defined in the Work Letter) (the "Drop Dead Date"), then Sublessee, as its sole and exclusive remedy (except as provided for below), shall be entitled to terminate this Sublease by providing Sublessor with written notice thereof no later than February 15, 1997; provided that such written notice shall be null and void, and this Sublease shall continue to be in full force and effect, if Sublessor Substantially Completes the Premises within ten (10) business days of the date Sublessor receives such written notice from Sublessee. If Sublessee shall terminate this Sublease pursuant to this Section 1.2 then Sublessor shall return the Security Deposit, any prepaid Rent and any other sums previously paid by Sublessee to Sublessor in connection with this Sublease, to Sublessee within twenty (20) days thereof and any and allLandlord.

Appears in 1 contract

Samples: Lease Agreement (Metris Companies Inc)

Delay in Delivery of Premises. If Sublessor, for any reason whatsoever, cannot Landlord is unable to deliver possession of the Premises to Sublessee Tenant on or before the Lease Commencement DateDate for any reason (including, this Sublease without limitation, the existing tenant’s failure to vacate and deliver exclusive possession of the Premises to Landlord), Landlord shall not be void subject to any liability for its failure to do so. This failure shall not affect the validity of this Lease or voidable nor the obligations of Tenant under it, but the Lease Term shall Sublessor be liable not commence (and the Lease Commencement Date shall not occur) until the date on which Landlord delivers possession of the Premises to Sublessee for any resulting loss or damage. HoweverTenant, Sublessee and Tenant shall not be liable for any Rent and the Commencement Date shall not occur (as such term is defined in Section 4.1 below) due hereunder until the Premises are Substantially Complete (as defined in the Work Letter), except that if Sublessor's failure to Substantially Complete the Premises by the Lease Commencement Date is attributable to any action or inaction by Sublessee (including without limitation any Sublessee Delay described in the Work Letter attached this Sublease), then the Commencement Date shall not be advanced Date. Notwithstanding anything to the date on which contrary contained in this Lease, if Landlord is unable to tender possession of the Premises is tendered to Sublessee, and Sublessor shall be entitled to full performance by Sublessee (including the payment of Rent) from the date the Premises would have been Substantially Complete but for such Sublessee Delays. Notwithstanding the foregoing, in the event that (a) Sublessee is not then in default under the terms of this Sublease beyond any applicable cure period, (b) the Premises are not Substantially Complete Tenant on or before January 31December 15, 19972013 (the “Delivery Termination Date”), as such date shall be extended day for day for each day Landlord is delayed in causing the Premises possession of the Premises to be delivered to Tenant as a result of any Force Majeure delays and/or the acts and/or omissions of Tenant and Tenant’s agents, employees and contractors, Tenant may terminate this Lease by delivering to Landlord written termination notice on or prior to the date which is the earlier of (A) the date which is ten (10) days following the Delivery Termination Date (as may be extended for events so extended) or (B) the date upon which Landlord tenders possession of "Sublessee Delay" (as defined in the Work Letter) (the "Drop Dead Date"), then Sublessee, as its Premises to Tenant. The termination right afforded to Tenant under this Section 2.2 shall be Tenant’s sole and exclusive remedy (except for Landlord’s failure to tender possession of the Premises to Tenant on or before the Delivery Termination Date, as it may be extended as provided hereinabove. Time is of the essence for below)the delivery of Tenant’s termination notice under this Section 2.2; accordingly, shall be entitled if Tenant fails to timely deliver such notice, Tenant’s right to terminate this Sublease by providing Sublessor with written notice thereof Lease shall expire and be of no later than February 15, 1997; provided that such written notice shall be null and void, and this Sublease shall continue to be in full further force and effect, if Sublessor Substantially Completes the Premises within ten (10) business days or effect as of the date Sublessor receives Tenant fails to timely deliver such written notice from Sublesseetermination notice. If Sublessee shall terminate Tenant properly and timely terminates this Sublease Lease pursuant to this Section 1.2 2.2, then Sublessor Landlord shall return the Security Deposit, promptly refund to Tenant any prepaid Rent and any other sums Security Deposit previously paid to Landlord by Sublessee to Sublessor in connection with Tenant under this Sublease, to Sublessee within twenty (20) days thereof and any and allLease.

Appears in 1 contract

Samples: Office Lease (Life360, Inc.)

Delay in Delivery of Premises. If Sublessor, for any reason whatsoever, cannot Lessor is unable to deliver possession of the Premises to Sublessee Lessee on or before the Commencement Date, this Sublease Lessor shall not be void or voidable nor shall Sublessor be liable subject to Sublessee any liability for any resulting loss or damageits failure to do so. However, Sublessee This failure shall not be liable for any Rent and affect the Commencement Date validity of this Lease or the obligations of Lessee under it, but the Lease Term shall not occur until the Premises are Substantially Complete (as defined in the Work Letter), except that if Sublessor's failure to Substantially Complete the Premises by the Commencement Date is attributable to any action or inaction by Sublessee (including without limitation any Sublessee Delay described in the Work Letter attached this Sublease), then the Commencement Date shall not be advanced to commence on the date on which Lessor delivers possession of the Premises is tendered to Sublessee, and Sublessor Lessee. The Lease Expiration Date shall be entitled extended for a like period plus any additional period required to full performance by Sublessee (including make the payment Lease Expiration Date the last day of Rent) from the date calendar month. Lessor shall use its commercially reasonable efforts to enforce its rights to possession of the Premises would have been Substantially Complete but for such Sublessee Delaysagainst any holdover tenant. Notwithstanding the foregoingforgoing, in if the event that (a) Sublessee is not then in default under the terms of this Sublease beyond any applicable cure period, (b) the Premises Tenant Improvements are not Substantially Complete on or before January 31the Commencement Date, 1997, as such Lessee shall be entitled to a rent abatement following the Commencement Date of $1,076.28 per day for every day beginning on the Commencement Date and ending on the date may the Tenant Improvements are Substantially Complete. Lessor and Lessee acknowledge and agree that: (i) the determination of Substantial Completion shall take into account the effect of Tenant Delays and the Commencement Date shall be extended for postponed by the number of days the Completion Date is delayed due to events of "Sublessee Delay" Force Majeure. If Lessor is unable to deliver possession of the Premises to Lessee by the sixtieth (as defined in 60th) day following the Work Letter) scheduled Commencement Date (the "Drop Dead Outside Date"), then Sublessee, as its sole and exclusive remedy (except as provided for below), either Party shall be entitled have the right to terminate this Sublease Lease by providing Sublessor the other Party with written notice thereof no later than February 15, 1997; provided that such written notice shall be null and void, and this Sublease shall continue to be in full force and effect, if Sublessor Substantially Completes the Premises within ten five (105) business days of the date Sublessor receives such written notice from Sublessee. If Sublessee shall terminate this Sublease pursuant to this Section 1.2 then Sublessor shall return the Security Deposit, any prepaid Rent and any other sums previously paid by Sublessee to Sublessor in connection with this Sublease, to Sublessee within twenty (20) days thereof and any and allfollowing said Outside Date.

Appears in 1 contract

Samples: Lease Agreement (A-Mark Precious Metals, Inc.)

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Delay in Delivery of Premises. If Sublessor, for any reason whatsoever, cannot deliver possession Section 4.3 of the General Terms and Conditions to Lease is deleted in its entirety and the following provision is substituted: If the Premises to Sublessee on or before are not ready for Tenant's occupancy within six (6) months following the Commencement Datedate of this Lease, this Sublease Lease shall terminate, Landlord shall return any Deposit previously delivered by Tenant, and all rights and obligations of the parties shall terminate, and Landlord shall not be void subject to any liability therefor except to the extent set forth herein. Termination under this Section shall be Tenant's sole remedy and Tenant shall have no other rights or voidable nor claims hereunder at law or in equity except that Landlord shall Sublessor be liable return to Sublessee Tenant promptly after any termination any Deposit previously tendered to Landlord. i) Tenant shall have fully signed and delivered this Lease to Landlord for acceptance and signature; (ii) Final Plans and Specifications shall have been prepared and approved (iii) any resulting loss or damageand all Proposed Adjustments to the cost of completion of Leasehold improvements shall have been agreed upon and (iv) all construction permits with respect to the Premises shall have been issued by applicable governmental authorities. However, Sublessee shall not be liable for any Rent and The nintieth day following the satisfaction of the last of such conditions is hereinafter referred to as the "Commencement Date Milestone". If the Commencement Date shall not occur until have been achieved within such ninety (90) day period then Tenant shall accept the Premises are Substantially Complete at the earliest practicable date thereafter on which Landlord is able to deliver the same, in which case, upon commencement of the Term and Tenant's Basic Rent obligation, Tenant shall receive a credit against Tenant's Basic Rent obligation in an amount equal to the per diem Basic Rent rate (as defined in i.e., $690.00) multiplied by the Work Letter), except that if Sublessor's failure to Substantially Complete the Premises by number of days which shall have elapsed accounting from the Commencement Date is attributable Milestone, as extended, until the actual Commencement Date. Such credit shall be applied to any action or inaction by Sublessee (including without limitation any Sublessee Delay described in the Work Letter attached this Sublease), then Tenant's monthly installment obligation for Basic Rent beginning as of the Commencement Date shall not be advanced to the date on which possession of the Premises is tendered to Sublessee, and Sublessor shall be entitled to full performance by Sublessee (including the payment of Rent) from the date the Premises would have been Substantially Complete but for such Sublessee Delays. Notwithstanding the foregoing, in the event that (a) Sublessee is not then in default under the terms of this Sublease beyond any applicable cure period, (b) the Premises are not Substantially Complete on or before January 31, 1997, as such date may be extended for events of "Sublessee Delay" (as defined in the Work Letter) (the "Drop Dead Date"), then Sublessee, as its sole and exclusive remedy (except as provided for below), shall be entitled to terminate this Sublease by providing Sublessor with written notice thereof no later than February 15, 1997; provided that such written notice shall be null and void, and this Sublease shall continue to be in full force and effect, if Sublessor Substantially Completes the Premises within ten (10) business days of the date Sublessor receives such written notice from Sublessee. If Sublessee shall terminate this Sublease pursuant to this Section 1.2 then Sublessor shall return the Security Deposit, any prepaid Rent and any other sums previously paid by Sublessee to Sublessor in connection with this Sublease, to Sublessee within twenty (20) days thereof and any and all.

Appears in 1 contract

Samples: Industrial Gross Lease Agreement (Asset Acceptance Capital Corp)

Delay in Delivery of Premises. If Sublessor(a) It is presently anticipated that the Premises will be ready for occupancy by Tenant on or about the Lease Commencement Date; provided, for however, if Landlord is unable to deliver possession of the Premises by such date, Landlord shall not have any reason whatsoever, cannot liability whatsoever to Tenant on account of Landlord's inability to deliver possession of the Premises to Sublessee on or before the Commencement DateTenant, and this Sublease Lease shall not be rendered void or voidable nor shall Sublessor be liable to Sublessee for any resulting loss or damage. However, Sublessee shall not be liable for any Rent and the Commencement Date shall not occur until the Premises are Substantially Complete (as defined in the Work Letter), except that if Sublessor's failure to Substantially Complete the Premises by the Commencement Date is attributable to any action or inaction by Sublessee (including without limitation any Sublessee Delay described in the Work Letter attached this Sublease), then the Commencement Date shall not be advanced to the date on which possession a result of the Premises is tendered to Sublessee, and Sublessor shall be entitled to full performance by Sublessee (including the payment of Rent) from the date the Premises would have been Substantially Complete but for such Sublessee Delaysdelay. Notwithstanding the foregoing, in the event that (a) Sublessee is not then in default under the terms of this Sublease beyond if for any applicable cure period, (b) reason the Premises are not Substantially Complete delivered on the Lease Commencement Date, Tenant shall have no liability for rent under this Lease until the Premises are delivered to Tenant. Upon delivery of the Premises to Tenant, Landlord and Tenant will execute an amendment to this Lease to state the new Lease Commencement Date and conforming changes in this Lease to reflect such new date, including, without limitation, changes to Sections 3.1 and 3.2 hereof, to confirm that rent shall commence as of the new Lease Commencement Date. (b) It is presently anticipated that the Expansion Premises will be ready for occupancy by Tenant on or about August 1, 2001. If Tenant gives Landlord notice as provided above, the Expansion Premises will be available for occupancy by Tenant on August 1, 2000; or if Landlord obtains possession of the Expansion Space on or before January 31February 1, 19972001, the Expansion Premises will be available by February 1, 2001. Notwithstanding the foregoing, if Landlord is unable to deliver possession of the Expansion Premises by any of such dates as such date may be extended for events applicable, Landlord shall not have any liability whatsoever to Tenant on account of "Sublessee Delay" (as defined in Landlord's inability to deliver possession of the Work Letter) (the "Drop Dead Date"), then Sublessee, as its sole and exclusive remedy (except as provided for below), shall be entitled Expansion Premises to terminate this Sublease by providing Sublessor with written notice thereof no later than February 15, 1997; provided that such written notice shall be null and voidTenant, and this Sublease Lease shall continue to not be in full force rendered void or voidable as a result of such delay. Landlord and effect, if Sublessor Substantially Completes the Premises within ten (10) business days of the date Sublessor receives such written notice from Sublessee. If Sublessee shall terminate this Sublease pursuant Tenant will execute an amendment to this Section 1.2 then Sublessor shall return Lease to confirm the Security Deposit, any prepaid Rent and any other sums previously paid by Sublessee to Sublessor in connection with this Sublease, to Sublessee within twenty (20) days thereof and any and allExpansion Premises Commencement Date.

Appears in 1 contract

Samples: Office Lease (Yellow Brix Inc)

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