Common use of Delivery of Premises Clause in Contracts

Delivery of Premises. Upon Substantial Completion of the Tenant -------------------- Improvements, Landlord shall deliver possession of the Premises to Tenant. If Landlord has not Substantially Completed the Tenant Improvements and tendered possession of the Premises to Tenant on or before the Scheduled Commencement Date specified in Section 2 - Term; Possession of the Lease, or if Landlord is unable for any other reason to deliver possession of the Premises to Tenant on or before such date, neither Landlord nor its representatives shall be liable to Tenant for any damage resulting from the delay in completing such construction obligations and/or delivering possession to Tenant and the Lease shall remain in full force and effect unless and until it is terminated under the express provisions of this Section. If any delays in Substantially Completing the Tenant Improvements are attributable to Tenant Delays, then the Premises shall be deemed to have been Substantially Completed and delivered to Tenant on the date on which Landlord could have Substantially Completed the Premises and tendered the Premises to Tenant but for such Tenant Delays.

Delivery of Premises. Upon Substantial Completion 4.1 As-Is. Landlord shall deliver the Premises to Tenant in its current "as-is" condition with all faults promptly following execution of this Lease and receipt of the Prepaid Rent and Letter of Credit required under Section 6 below. Landlord shall not be required to [*CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AS TO CERTAIN PORTIONS OF THIS DOCUMENT. EACH SUCH PORTION, WHICH HAS BEEN OMITTED HEREIN AND REPLACED WITH A SERIES OF THREE ASTERISKS IN BRACKETS [***], HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.] make any alterations or improvements to the Premises but shall pay the Allowance pursuant to Exhibit B attached hereto. Tenant -------------------- shall be responsible for all construction or alterations of the Premises necessary to ready the Premises for Tenant's use and occupancy (the "Tenant Improvements, "). All Tenant Improvements shall be installed by Tenant in accordance with Exhibit B and Tenant shall not begin construction until the terms and conditions of Exhibit B have been satisfied. Tenant acknowledges that a portion of the Premises containing approximately 1,000 square feet has been leased to Acucela on a month to month basis. Landlord shall terminate the Acucela lease promptly after the Effective Date and shall deliver possession of the Premises to Tenant. If Landlord has not Substantially Completed the Tenant Improvements and tendered possession that portion of the Premises to Tenant on or before the Scheduled Commencement Date specified in Section 2 - Term; Possession of the Lease, or if Landlord is unable for any other reason immediately upon surrender thereof by Acucela. Tenant shall not be required to deliver possession of the Premises to Tenant on or before such date, neither Landlord nor its representatives shall be liable to Tenant for any damage resulting from the delay in completing such construction obligations and/or delivering possession to Tenant and the Lease shall remain in full force and effect unless and until it is terminated under the express provisions of this Section. If any delays in Substantially Completing the Tenant Improvements are attributable to Tenant Delays, then the Premises shall be deemed to have been Substantially Completed and delivered to Tenant pay rent on the date on which Acucela space until Landlord could have Substantially Completed the Premises and tendered the Premises has delivered possession thereof to Tenant but for such Tenant DelaysTenant.

Delivery of Premises. Upon Substantial Completion of the Tenant -------------------- Landlord Improvements, Landlord shall deliver possession of the Premises to Tenant. If Landlord has not Substantially Completed the Tenant Landlord Improvements and tendered possession of the Premises to Tenant on or before the Scheduled Commencement Date specified in Section 2 - Term; Possession of the Lease, or if Landlord is unable for any other reason to deliver possession of the Premises to Tenant on or before such date, neither Landlord nor its representatives shall be liable to Tenant for any damage resulting from the delay in completing such construction obligations and/or delivering possession to Tenant and the Lease shall remain in full force and effect unless and until it is terminated under the express provisions of this Sectioneffect. If any delays in Substantially Completing the Tenant Improvements are attributable to Tenant Delays, then the Premises shall be deemed to have been Substantially Completed and delivered to Tenant on the date on which Landlord could have Substantially Completed the Premises and tendered the Premises to Tenant but for such Tenant Delays. If Tenant fails to perform any of Tenant’s obligations under this Construction Rider within the time periods specified herein, Landlord may treat such failure of performance as an Event of Default under the Lease.

Delivery of Premises. Upon Substantial Completion of the Tenant -------------------- Improvements, Landlord shall deliver possession of the The Premises will be delivered to Tenant. If Landlord has not Substantially Completed , Ready for Occupancy, subject to Tenant Delays, on the Commencement Date in its "As Is" condition with the Tenant Improvements and tendered possession of the Premises to Tenant on or before the Scheduled completed by Landlord as described in Exhibit "C" attached hereto. Notwithstanding said Commencement Date specified in Section 2 - Term; Possession of the LeaseDate, or if Landlord is unable for any other reason to Landlord cannot deliver possession of the Premises to Tenant on or before such said date, neither Landlord shall not be subject to any liability therefore, nor its representatives shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof, but in such case Tenant shall not be obligated to pay rent until possession of the Premises is tendered to Tenant in a "Ready for Occupancy" condition; CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be liable subject to all provisions hereof, such occupancy shall not advance the termination date and Tenant for any damage resulting from the delay in completing such construction obligations and/or delivering possession to Tenant and the Lease shall remain in full force and effect unless and until it is terminated under the express provisions of this Section. If any delays in Substantially Completing the Tenant Improvements are attributable to Tenant Delays, then the Premises shall be deemed to have been Substantially Completed and delivered to Tenant on the date on which Landlord could have Substantially Completed the Premises and tendered the Premises to Tenant but pay rent for such period at the monthly rates set forth below; provided, however, that the entry of Tenant, its agents, representatives or contractors for the purposes of completing Tenant DelaysInstalled Improvements (as defined in Section C of Exhibit "C") shall not constitute occupancy of the Premises.

Delivery of Premises. Upon Substantial Completion It is acknowledged that the Target Commencement Date listed in the Basic Lease Information represents an estimate of the Tenant -------------------- Improvements, Landlord shall deliver possession actual commencement date of the Premises Lease Term. The Lease Term shall not be deemed to Tenanthave commenced and Tenant shall not be obligated to pay any Basic Rent or Additional Rent (collectively, along with all other sums payable by Tenant to Landlord hereunder, “Rent”) until the actual Commencement Date. If Landlord has for any reason cannot Substantially Completed the Tenant Improvements and tendered deliver early possession of the Premises to Tenant on the Target Commencement Date, then 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; however, either party, at its option, may terminate this Lease by giving written notice of its election to the other party if the Commencement Date has not occurred on or before thirty (30) days after the Scheduled Target Commencement Date specified in Section 2 - Term; Possession through no fault of the Leaseterminating party. Such termination right shall be exercised within ten (10) days after the expiration of said 30-day period, provided that the Commencement Date has not then occurred. Upon the termination of this Lease pursuant to this Subparagraph (2), the parties shall have no further rights or liabilities towards each other except for those provisions of this Lease which expressly survive the termination of this Lease and Landlord shall return any advance rent or security deposits previously paid by Tenant. Notwithstanding the foregoing sentence, if Landlord is unable for any other reason to deliver possession of the Premises to Tenant on within the 30-day period due to delays caused by Tenant or before such dateforce majeure, neither Landlord nor its representatives the 30-day period shall be liable to extended by the number of days of Tenant for any damage resulting from the delay in completing such construction obligations and/or delivering possession to Tenant and the Lease shall remain in full delays or force and effect unless and until it is terminated under the express provisions of this Section. If any delays in Substantially Completing the Tenant Improvements are attributable to Tenant Delays, then the Premises shall be deemed to have been Substantially Completed and delivered to Tenant on the date on which Landlord could have Substantially Completed the Premises and tendered the Premises to Tenant but for such Tenant Delaysmajeure.

Delivery of Premises. Upon Substantial Completion of the Tenant -------------------- Improvements, Landlord shall deliver the Premises, and Tenant shall accept same in its as-is condition (except as set forth on Exhibit "B"), on the Commencement Date described in Section 1.22, or so soon thereafter as Landlord is able to deliver same. The equipment specified in Exhibit "E" shall be in the Premises on the Commencement Date. If Landlord does not deliver possession of the Premises to Tenant. If by the Commencement Date, or any other date scheduled or targeted as the Commencement Date, Landlord has shall not Substantially Completed the Tenant Improvements and tendered possession of the Premises have any liability whatsoever to Tenant on or before the Scheduled Commencement Date specified in Section 2 - Term; Possession account of the Lease, or if Landlord is unable for any other reason such failure to deliver possession of the Premises to Tenant on and this Lease shall not be rendered void or before voidable as a result of such datedelay. However, neither Landlord nor its representatives under such circumstances, unless such delay is caused by Tenant or Tenant's contractors, the Commencement Date shall be liable to Tenant for any damage resulting from the delay in completing such construction obligations and/or delivering postponed until possession to Tenant and the Lease shall remain in full force and effect unless and until it is terminated under the express provisions of this Section. If any delays in Substantially Completing the Tenant Improvements are attributable to Tenant Delays, then the Premises shall be deemed to have been Substantially Completed and is delivered to Tenant on the date on which Landlord could have Substantially Completed or the Premises and tendered are available for occupancy by Tenant. Tenant acknowledges that Landlord's ability to deliver the Premises is subject to: (i) the current tenant, Paratek Microwave, Inc., vacating the Premises pursuant to Tenant the terms of its agreement with Landlord; and (ii) Landlord obtaining permits for the construction of the Improvements. Notwithstanding the foregoing, if the Commencement Date has not occurred within nine (9) months after the targeted Commencement Date either party shall have the right, as its sole remedy, to terminate this Lease on thirty (30) days notice given prior to the Commencement Date, but for if the Premises are delivered within such Tenant Delaysthirty (30)-day period the termination notice will be null and void.

Delivery of Premises. Upon Substantial Completion The parties anticipate that the Premises shall -------------------- be Ready for Occupancy within thirty (30) days of the Tenant -------------------- Improvementsscheduled term commencement date set forth in the Fundamental Lease Provisions. In the event that it becomes apparent to Landlord that the Premises shall not be Ready for occupancy within ten (10) days of the scheduled term commencement date, Landlord shall deliver possession use reasonable efforts to advise Tenant of the anticipated date that the Premises will be ready for occupancy at least ten (10) days prior to Tenantsuch date, but the failure to give such notice shall not constitute a default hereunder by Landlord. If Landlord has not Substantially Completed Tenant agrees that in the Tenant Improvements and tendered possession event of the Premises to Tenant on or before the Scheduled Commencement Date specified in Section 2 - Term; Possession inability of the Lease, or if Landlord is unable for any other reason to deliver possession of the Premises to Tenant on or before such by the scheduled term commencement date, neither this Lease shall not be void or voidable, nor shall Landlord nor its representatives shall be liable to Tenant for any loss or damage resulting from the delay therefrom, but in completing such construction obligations and/or delivering possession to event Tenant and the Lease shall remain in full force and effect unless and not be liable for any rent until it is terminated under the express provisions of this Section. If any delays in Substantially Completing the Tenant Improvements are attributable to Tenant Delays, then the Premises are ready for occupancy. Any failure to deliver possession at the scheduled term commencement date, shall be deemed not affect the obligations of Tenant hereunder, except that if Landlord has failed to have been Substantially Completed and delivered to Tenant on the date on which Landlord could have Substantially Completed the Premises and tendered deliver possession of the Premises to Tenant but for such within six (6) months after the scheduled term commencement date, Landlord or Tenant Delaysmay, at either option, by notice in writing to the other party within thirty (30) days thereafter, cancel this Lease, in which event the parties shall be discharged from all obligations hereunder.

Delivery of Premises. Upon Substantial Completion of the Tenant -------------------- Expansion Improvements, Landlord Lessor shall deliver possession of the Expansion Premises to TenantLessee. If Landlord Lessor has not Substantially Completed the Tenant Expansion Improvements and tendered possession of the Expansion Premises to Tenant Lessee on or before the Scheduled Expansion Commencement Date specified in Section 2 - Term; Possession 3 of the LeaseAmendment to which this Construction Rider is attached, or if Landlord Lessor is unable for any other reason to deliver possession of the Premises to Tenant Lessee on or before such date, then, except as provided in the Lease, neither Landlord Lessor nor its representatives shall be liable to Tenant Lessee for any damage resulting from the delay in completing such construction obligations and/or or delivering possession to Tenant Lessee and the Lease this Amendment shall remain in full force and effect unless and until it is terminated under the express provisions of this SectionSection 3 of the Amendment. If any delays in Substantially Completing the Tenant Expansion Improvements are attributable to Tenant Lessee Delays, then the Premises shall be deemed to have been Substantially Completed and delivered to Tenant Lessee on the date on which Landlord Lessor could have Substantially Completed the Premises and tendered the Premises to Tenant Lessee but for such Tenant Lessee Delays.

Delivery of Premises. Upon Substantial Completion of the Tenant -------------------- Improvements, (a) Landlord shall not be liable for failure to deliver possession of the Premises on any specified date, and such failure shall not impair the validity of the Lease. Landlord shall provide Tenant with at least 10 Business Days' prior notice of the date Landlord reasonably anticipates will be the Construction Period Start Date. Landlord shall be deemed to Tenant. If Landlord has not Substantially Completed the Tenant Improvements and tendered have delivered possession of the Premises to Tenant on or before upon the Scheduled Commencement Date specified giving of notice by Landlord to Tenant stating that the Premises are vacant, in Section 2 - Term; Possession the condition required under this Lease, and available for Tenant's occupancy. There shall be no postponement of the Lease, Construction Period Start Date (or if Landlord is unable the Rent Commencement Date) for (i) any other reason to deliver delay in the delivery of possession of the Premises to Tenant on which results from any Tenant Delay or before (ii) any delay by Landlord in the performance of any Punch List Items relating to Landlord's Work. Landlord shall complete such datePunch List Items, neither of which Tenant notifies Landlord nor its representatives shall be liable within 10 days after Substantial Completion of the applicable work in connection therewith, and remedy any latent defects in Landlord's Work which Tenant could not with reasonable diligence have discovered when Landlord delivered the Premises to Tenant, of which Tenant for notifies Landlord within 12 months after Substantial Completion of the applicable work in connection therewith, within 60 days after Tenant gives Landlord any damage resulting from the delay in completing such construction obligations and/or delivering possession to Tenant and the Lease shall remain in full force and effect unless and until it is terminated under the express notice. The provisions of this Section. If Section 3.2 are intended to constitute "an express provision to the contrary" within the meaning of Section 223-a of the New York Real Property Law or any delays in Substantially Completing the Tenant Improvements are attributable to Tenant Delays, then the Premises shall be deemed to have been Substantially Completed and delivered to Tenant on the date on which Landlord could have Substantially Completed the Premises and tendered the Premises to Tenant but for such Tenant Delayssuccessor Requirement.

Delivery of Premises. Upon Substantial Completion of the Tenant -------------------- Improvements, Landlord shall deliver possession of the Premises to Tenant. If Landlord has not Substantially Completed the Tenant Improvements and tendered possession of the Premises to Tenant on or before the Scheduled Term Commencement Date specified in Section 2 - Term; Possession of the Lease, or if Landlord is unable for any other reason to deliver possession of the Premises to Tenant on or before such date, neither Landlord nor its representatives shall be liable to Tenant for any damage damages resulting from the delay in completing such construction obligations and/or delivering possession to Tenant and the Lease shall remain in full force and effect unless and until it is terminated under the express provisions of this Section. If any delays in Substantially Completing the Tenant Improvements are attributable to Tenant DelaysDelays (as defined in Section 5 of this Construction Rider), then the Premises shall be deemed to have been Substantially Completed and delivered to Tenant on the date on which Landlord could have Substantially Completed the Premises and tendered the Premises to Tenant but for such Tenant Delays. If Tenant fails to perform any of Tenant’s obligations under this Construction Rider within the time periods specified herein, Landlord may, in lieu of terminating the Lease under the foregoing provisions, treat such failure of performance as an Event of Default under the Lease.

Delivery of Premises. Upon Substantial Completion of the Tenant -------------------- Improvements, Landlord shall deliver possession of the Premises to Tenant. If Landlord has not Substantially Completed the Tenant Improvements and tendered possession of the Premises to Tenant on or before the Scheduled Commencement Date specified in Section 2 - Term; Possession of the Lease, or if Landlord is unable for any other reason to deliver possession of the Premises to Tenant on or before such date, neither Landlord nor its representatives shall be liable to Tenant for any damage resulting from the delay in completing such construction obligations and/or delivering possession to Tenant and the Lease shall remain in full force and effect unless and until it is terminated under the express provisions of this Sectioneffect. If any delays in Substantially Completing the Tenant Improvements are attributable to Tenant Delays, then the Premises shall be deemed to have been Substantially Completed and delivered to Tenant on the date on which Landlord could have Substantially Completed the Premises and tendered the Premises to Tenant but for such Tenant Delays. If Tenant fails to perform any of Tenant’s obligations under this Construction Rider within the time periods specified herein, Landlord may treat such failure of performance as an Event of Default under the Lease.