Possession and Commencement Sample Clauses
The Possession and Commencement clause establishes when the tenant is entitled to take possession of the leased premises and when the lease term officially begins. Typically, this clause specifies a particular date or event that triggers the tenant’s right to occupy the property, such as completion of landlord’s works or receipt of necessary permits. By clearly defining these key dates, the clause ensures both parties understand their obligations and timelines, thereby preventing disputes over access and the start of rent payments.
Possession and Commencement. Landlord shall deliver the Premises to Tenant in its “as is” condition (except as otherwise provided in Sections 5.05E and 6.01 of this Lease and Section 2 of the Work Letter) on the later of (a) the date which is three (3) business days after the date Tenant provides Landlord with written notice of issuance of the building permit required for construction of Tenant’s Work (as defined in the Work Letter) or (b) June 1, 2004 (the “Possession Date”). Landlord shall use reasonable efforts to deliver the Premises as soon as possible after the current tenant vacates the Premises. If Landlord, for any reason, cannot deliver possession of the Premises to Tenant in the condition required hereunder within sixty (60) days after the anticipated Possession Date (a “Possession Delay”), Tenant shall have the right to terminate this Lease by delivering written notice to Landlord within three (3) business days after the end of such sixty (60) day period, unless Landlord delivers the Premises to Tenant within ten (10) days after such notice. Unless the Premises are delivered before the expiration of such ten (10) day period, Landlord shall be liable to Tenant for all actual, out-of-pocket losses and damages resulting therefrom. Tenant shall have no other remedies or resources for such failure by Landlord. If Tenant elects not to terminate this Lease, the Commencement Date, the Initial Term and the Options shall be extended by the length of the Possession Delay. In the event of a Possession Delay, Tenant shall have the right to postpone its election to terminate to a specified date, and may make such election on the later date specified in a written notice to Landlord delivered within ten (10) days after the anticipated Possession Date. If Tenant’s Work is not completed on the sixth (6th) month anniversary of the date the Premises is delivered to Tenant due to any Force Majeure Delay or Landlord Delay, the Commencement Date shall be delayed one (1) day for each day that completion of any Tenant Work is delayed due to such Force Majeure Delay or Landlord Delay. The term “Force Majeure Delay” shall mean any delay in completion of the Tenant Work which is attributable to Force Majeure (as defined below). The term “Landlord Delay” shall mean any delay in completion of the Tenant Work which is attributable to the act or omission of Landlord, its employees, agents or contractors. The period from the Possession Date until the Commencement Date shall be the “Build-Out Period” durin...
Possession and Commencement. (a) Tenant is in possession as of the Commencement Date.
(b) Tenant acknowledges and agrees that ▇▇▇▇▇▇ has been in possession of the Premises and that the Premises shall be leased by Landlord to Tenant in its present “AS IS” condition and that Landlord makes absolutely no representations or warranties whatsoever with respect to the Premises or the condition thereof. Tenant acknowledges that Landlord has not investigated and does not warrant or represent to Tenant that the Premises are fit for the purposes intended by Tenant or for any other purpose or purposes whatsoever. Tenant acknowledges that Tenant shall be solely responsible for any and all actions, repairs, permits, approvals and costs required for the rehabilitation, renovation, use, occupancy and operation of the Premises in accordance with applicable governmental requirements, including, without limitation, all governmental charges and fees, if any, which may be due or payable to applicable authorities. ▇▇▇▇▇▇ agrees that, by leasing the Premises, 9044.051 Five Oaks Office Lease to Credence Lot 2 v2 Tenant warrants and represents that Tenant has examined and approved all things concerning the Premises which Tenant deems material to Tenant’s leasing and use of the Premises. ▇▇▇▇▇▇ further acknowledges and agrees that (i) neither Landlord nor any agent of Landlord has made any representation or warranty, express or implied, concerning the Premises or which have induced Tenant to execute this Lease, and (ii) any other representations and warranties are expressly disclaimed by Landlord.
Possession and Commencement. Subject to the terms of this Section 3, this Lease is a binding lease from the date executed, even though the Commencement Date is to occur at a later date. Landlord agrees that it shall deliver the Premises to Tenant upon execution of this Lease. By occupying any portion of the Premises, Tenant shall be deemed to have accepted the Premises in its condition as of the date of such occupancy. Prior to or promptly after occupying any portion of the Premises, Tenant and Landlord shall execute and deliver to Landlord a letter substantially in the form attached to Exhibit E hereto confirming (i) that Tenant has accepted the Premises, (ii) that Landlord has performed all of its obligations with respect to delivery of the Premises, and (iii) confirming the Commencement Date. Tenant hereby acknowledges that Landlord will construct a multi-tenant corridor on the 5th floor of Building III and that such construction may continue after the execution date of this Lease. Tenant and Landlord agree to, and to cause any contractors employed by each of them to, use reasonable efforts to coordinate construction and build-out work in order to minimize interference with the construction or build-out work of the other party.
Possession and Commencement. 3 5. RENT................................................................... 3 6.
Possession and Commencement. Commencement of the Sub-Lease shall be March 1, 1999. Sub-Lessor shall deliver possession to Sub-Lessee on or before February 15, 1999. Sub-Lessee may occupy the premises during this period without the payment of rent, but subject to the other provisions of the Sub-Lease and Master Lease.
Possession and Commencement. 2 5. MONTHLY. . . . . . . . . . . . . . . . . . . . . . . . 2 6.
Possession and Commencement. Commencement of the Lease shall be September 26, 2000. Lessee will have been in possession of the Premises from March 1, 1999 under a Sub-Lease agreement dated January 15, 1999, and shall continue occupancy upon the expiration of the Sub-Lease agreement.
Possession and Commencement