Common use of DELAY IN POSSESSION Clause in Contracts

DELAY IN POSSESSION. If for any reason Landlord cannot deliver possession of the Premises to Tenant by the Commencement Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 days after the Commencement Date and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel this Lease shall terminate.

Appears in 4 contracts

Samples: Suntek Corp, Lease Agreement (Champion Industries Inc), Second Lease Extension and Modification Agreement (Headhunter Net Inc)

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DELAY IN POSSESSION. If Notwithstanding said Lease Commencement Date, if for any reason Landlord cannot deliver possession of the Premises to Tenant by the Commencement Dateon said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease Agreement or the obligations of Tenant hereunder. In hereunder or extend the term hereof, but in such case, Tenant shall not, except as otherwise provided herein, not be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease rent until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 days after the Commencement Date and such delay is not due tendered to Tenant's acts; provided further, failure to act or omissions however, that if Landlord shall not have delivered possession of the Premises within sixty (60) days from said Lease Commencement Date, Tenant may may, at Tenant’s option, by notice in writing to Landlord within 10 ten (10) days after the end of said 60 day period thereafter, cancel this Lease and Agreement, in which event the parties shall be discharged from all obligations hereunder. If hereunder and Landlord shall immediately repay to Tenant all amounts previously paid to Landlord by Tenant; provided, however, that if such written notice of Tenant is not received by Landlord within said 10 ten (10) day period, Tenant's ’s right to cancel this Lease Agreement hereunder shall terminateterminate and be of no further force or effect.

Appears in 3 contracts

Samples: 953 Sublease Agreement (Eidos Therapeutics, Inc.), Sublease Agreement, 953 Sublease Agreement (Eidos Therapeutics, Inc.)

DELAY IN POSSESSION. If for any reason Landlord cannot deliver possession of any part of the Premises demised premises to Tenant by the Commencement DateDate (as set forth in Paragraph 1.2 of this lease), Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises demised premises to Tenant. If possession of all of the Premises demised premises is not delivered to Tenant within 60 days after the Commencement Date (as set forth in Paragraph 1.2 of this lease) and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 day period cancel this Lease lease and the parties Parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, TenantXxxxxx's right to cancel this Lease lease shall terminate.

Appears in 3 contracts

Samples: Warehouse Lease, Warehouse Lease, Warehouse Lease

DELAY IN POSSESSION. If for any reason Landlord cannot deliver possession of any part of the Premises demised premises to Tenant by the Commencement DateDate (as set forth in Paragraph 1.2 of this lease), Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises demised premises to Tenant. If possession of all of the Premises demised premises is not delivered to Tenant within 60 days after the Commencement Date (as set forth in Paragraph 1.2 of this lease) and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 day period cancel this Lease lease and the parties Parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel this Lease lease shall terminate.

Appears in 3 contracts

Samples: Warehouse Lease, Warehouse Lease, Warehouse Lease

DELAY IN POSSESSION. If for any reason Landlord cannot agrees to use its best commercially reasonable efforts to deliver possession of the Premises to Tenant by the Commencement Date. If, despite said efforts, Landlord is unable to deliver possession as agreed, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunderLease. In such case, Tenant shall not, except as otherwise provided hereinhowever, be obligated to pay Rent or perform any its other obligation of Tenant under the terms of this Lease obligations until Landlord delivers it receives possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to TenantPremises. If possession of the Premises is not delivered to Tenant within 60 days after the Commencement Date and such delay is not due to Tenant's actsDate, failure to act or omissions Tenant may may, at its option, by notice in writing to Landlord within 10 days after the end of said such 60 day period period, cancel this Lease and Lease, in which event the parties Parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel shall terminate. Except as otherwise provided, if possession is not tendered to Tenant by the Start Date and Tenant does not terminate this Lease, as aforesaid, any period of rent abatement that Tenant would otherwise have enjoyed shall run from the date of delivery of possession and continue for a period equal to what Tenant would otherwise have enjoyed under the terms hereof, but minus any days of delay caused by the acts or omissions of Tenant. If possession of the Premises is not delivered within 4 months after the Commencement Date, this Lease shall terminateterminate unless other agreements are reached between Landlord and Tenant, in writing.

Appears in 2 contracts

Samples: Fortunet, Inc., Fortunet, Inc.

DELAY IN POSSESSION. If for any reason Landlord cannot deliver possession of the Premises to Tenant by the Commencement Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 COMMENCE 30 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 120 days after the Commencement Date and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 120 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel this Lease shall terminate.

Appears in 2 contracts

Samples: Lease (Harmonic Inc), Harmonic Inc

DELAY IN POSSESSION. If for any reason Landlord cannot deliver ------------------- possession of the Premises to Tenant by the Commencement Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 days after the Commencement Date and such delay is not due to Tenant's acts, failure to act or omissions omissions, Tenant may by notice in writing to Landlord within 10 business days after the end of said 60 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 business day period, Tenant's right to cancel this Lease shall terminate, provided that Landlord shall return any amounts paid to Landlord by Tenant.

Appears in 2 contracts

Samples: Lease (Kyphon Inc), Lease (Kyphon Inc)

DELAY IN POSSESSION. If for any reason Landlord cannot deliver ------------------- possession of the Premises to Tenant by the Commencement Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 days after the Commencement Date and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel this Lease shall terminate. The parties recognize that the Tenant currently leases the Premises.

Appears in 1 contract

Samples: Lease (Adaptive Broadband Corp)

DELAY IN POSSESSION. If for any reason Landlord cannot deliver ------------------- possession of the Premises to Tenant by the Commencement Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant for the conduct of business or (ii) 10 days one (1) day following notice to Tenant that Landlord is prepared to tender possession of has substantially completed (as defined in the Premises to TenantFirst Addendum) the Tenant Improvements. If possession of the Premises is not delivered to Tenant within 60 days after the Commencement Date and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel this Lease shall terminate.

Appears in 1 contract

Samples: Sonicwall Inc

DELAY IN POSSESSION. If for any reason Landlord cannot deliver possession of the Premises to Tenant by the Commencement Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 30 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 120 days after the Commencement Date and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 120 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel this Lease shall terminate.

Appears in 1 contract

Samples: Lease (Harmonic Inc)

DELAY IN POSSESSION. If for any reason Landlord cannot deliver ------------------- possession of the Premises to Tenant by the Commencement Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 days after the Commencement Date and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel this Lease shall terminate.

Appears in 1 contract

Samples: Lease Agreement (Asd Systems Inc)

DELAY IN POSSESSION. If for any reason Landlord cannot deliver possession of the Premises to Tenant by on/or before the Commencement DateDate due to events or factors beyond Landlord's reasonable control, Landlord this Lease shall not be subject to any liability therefor, void or voidable nor shall such failure affect the validity of this Lease Landlord be liable to Tenant for any resulting loss or the obligations of Tenant hereunderdamage. In such caseHowever, Tenant shall not, except as otherwise provided herein, not be obligated to pay Rent or perform liable for any other obligation of Tenant under rent and the terms of this Lease Commencement Date shall not occur until Landlord delivers possession of the Premises and the Premises are in fact ready for occupancy in accordance with Section 3.1; except that if Landlord's failure to Tenant. The term of the Lease shall commence so deliver possession on the earlier of Commencement Date is attributable to: (i) Tenant's delays in the date reasonable approval or preparation of plans and specifications for improvements, (ii) unreasonable delays caused by the Tenant's contractors or agents in performing services for which Tenant takes is responsible, or (iii) Tenant's negligence or willful misconduct, then Landlord shall be entitled to full performance by Tenant (including the payment of rent) from the Commencement Date. If Landlord does not deliver possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered Property to Tenant within 60 sixty (60) days after the Commencement Date and such delay is not due to Tenant's actsDate, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right elect to cancel this Lease by giving written notice to Landlord within ten (10) days after the sixty (60) day period ends. If Tenant gives such notice, the Lease shall terminatebe canceled and neither Landlord nor Tenant shall have any further obligations to the other.

Appears in 1 contract

Samples: Lease Agreement (Acres Gaming Inc)

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DELAY IN POSSESSION. If for any reason Landlord cannot fails to deliver possession of the Premises to Tenant by the Commencement Datetarget Early Possession Date specified in Paragraph 1.4, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease Lease, or the obligations of Tenant hereunder. In , or extend the term hereof, but in such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 one hundred and twenty (120) days after the Commencement target Early Possession Date and such delay is not due to Tenant's actsspecified in Paragraph 1.4, failure to act or omissions Tenant may may, at its option, by notice in writing to Landlord within 10 days after the end of said 60 day period Landlord, cancel this Lease and Lease, in which event the parties shall be discharged from all obligations hereunder. If hereunder and the Security Deposit and any Base Rent paid by Tenant shall be returned to Tenant by Landlord not later than ten (10) days after receipt of Tenant's notice of cancellation.; provided further, however, that if such written notice of Tenant is not received by Landlord within said 10 day periodprior to the Early Possession Date, Tenant's right to cancel this Lease hereunder shall terminateterminate and be of no further force or effect.

Appears in 1 contract

Samples: Wavesplitter Technologies Inc

DELAY IN POSSESSION. If for any reason Landlord cannot deliver ------------------- possession of the Premises to Tenant by the Commencement Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 90 days after the Commencement Date and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 90 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel this Lease shall terminate.

Appears in 1 contract

Samples: Cost U Less Inc

DELAY IN POSSESSION. If for any reason Landlord cannot agrees to use commercially reasonable efforts to deliver possession of the Premises to Tenant by the Commencement Scheduled Delivery Date. If, despite said efforts, Landlord is unable to deliver possession of the Premises to Tenant by the Scheduled Delivery Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunderLease. In such case, Tenant shall not, except as otherwise provided hereinhowever, be obligated to pay Rent or perform any its other obligation of Tenant under the terms of this Lease obligations until Landlord delivers it receives possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to TenantPremises. If possession of the Premises is not delivered to Tenant within 60 days one (1) month after the Scheduled Commencement Date and such delay is not due to Tenant's actsDate, failure to act or omissions Tenant may may, at its option, by notice in writing to Landlord within 10 ten (10) business days after the end of said 60 day period such one-month period, cancel this Lease and Lease, in which event the parties Parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 ten (10) business day period, Tenant's right to cancel shall terminate. If possession is not delivered within three (3) months after the Scheduled Commencement Date, Tenant may, at its option, by notice in writing within ten (10) business days after the end of such three (3) month period, cancel this Lease Lease, in which event the Parties shall be discharged from all obligations hereunder. If such written notice is not received by Landlord within said ten (10) business day period, Tenant's right to cancel shall terminate.

Appears in 1 contract

Samples: Lease Agreement (Intuit Inc)

DELAY IN POSSESSION. If for any reason Landlord cannot deliver possession of the Premises to Tenant by the Commencement Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the the. validity of this Lease or the obligations of Tenant hereunder. , In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (ia) the date Tenant takes possession of the Premises to Tenant or (iib) 10 days following notice to Tenant that Landlord is prepared to tender totender possession of the Premises Premeises to Tenant. If possession of the Premises is not delivered to Tenant within 60 days after the Commencement Date and such delay is not due to Tenant's acts, failure to act act, or omissions omissions, Tenant may by notice in writing to Landlord within 10 20 days after the end of said 60 60-day period cancel this Lease and the parties shall be discharged dischared from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 20-day period, Tenant's right to cancel this Lease shall terminate.

Appears in 1 contract

Samples: Singing Machine Co Inc

DELAY IN POSSESSION. If Notwithstanding said Commencement Date, if for any reason Landlord Lessor cannot deliver possession of the Premises to Tenant by the Commencement Date, Landlord Lessee on said date. Lessor shall not be subject to any liability therefortherefore, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In Lessee hereunder or extend the team hereof, but in such case, Tenant provided that the delay is not attributed to the fault of the Lessee, Lessee shall not, except as otherwise provided herein, not be obligated to pay Rent or perform any other obligation rent (but this shall not affect the prepayment of Tenant under the terms first month's rent) until possession of this Lease until Landlord delivers the Demises is tendered to Lessee. The dare Lessee takes possession of the Premises even if before November 1. 2000, shall be referred to as the "Commencement Date". If Lessor shall not have delivered possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of Lessee within thirty (i30) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 days after the from said Commencement Date and such delay is for reasons not due attributed to Tenant's actsLessees fault, failure to act or omissions Tenant may Lessee may. at Lessees option, by notice in writing to Landlord Lessor within 10 ten (10) days after the end of said 60 day period thereafter, cancel this Lease and Lease, in which event the parties shall be discharged from all obligations hereunder. If , provided further, however, that if such written notice of Tenant Lessee is not received by Landlord Lessor within said 10 ten (10) day period, TenantLessee's right to cancel this Lease hereunder shall terminateterminate and be of no further force or effect and Lessee shall remain obligated under the Lease.

Appears in 1 contract

Samples: Warehouse Lease Agreement (Able Laboratories Inc)

DELAY IN POSSESSION. If for any reason Landlord cannot deliver possession of the Premises to Tenant by the Commencement Date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to Tenant. If possession of the Premises is not delivered to Tenant within 60 90 days after the Commencement Date and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 90 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel this Lease shall terminate.

Appears in 1 contract

Samples: Industrial Lease (Abgenix Inc)

DELAY IN POSSESSION. If for any reason Landlord cannot Substantially Complete (herein defined) the Landlord's Work (herein defined) and deliver possession of the Premises to Tenant by the Base Rent Commencement DateDate (as set forth in Section 1.10 of this Lease), Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder. In such case, Tenant shall not, except as otherwise provided herein, be obligated to pay Rent or perform any other obligation of Tenant under the terms of this Lease until Landlord delivers possession of the Premises to Tenant. The term Tenant following Substantial Completion of the Lease shall commence on the earlier of (i) the date Tenant takes possession of the Premises to Tenant or (ii) 10 days following notice to Tenant that Landlord is prepared to tender possession of the Premises to TenantLandlord's Work. If possession of the Premises is not delivered to Tenant following Substantial Completion of the Landlord's Work within 60 days after the Base Rent Commencement Date (as set forth in Section 1.10 of this Lease) and such delay is not due to Tenant's acts, failure to act or omissions Tenant may by notice in writing to Landlord within 10 days after the end of said 60 day period cancel this Lease Lease, whereupon Landlord shall promptly return to Tenant all monies theretofore paid by Tenant to Landlord on account of the Security Deposit or any advance payments of Base Rent, and thereupon the parties Parties shall be discharged from all obligations hereunder. If such written notice of Tenant is not received by Landlord within said 10 day period, Tenant's right to cancel this Lease shall terminate.

Appears in 1 contract

Samples: Lease Agreement (Carrollton Bancorp)

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