Common use of Possession and Lease Commencement Clause in Contracts

Possession and Lease Commencement. Landlord and Tenant acknowledge that Landlord has not yet completed the improvements constituting the Building and the Premises. The term commencement date ("Term Commencement Date") shall be the earlier of the date on which: (1) Tenant takes possession of some or all of the Premises and opens for business therein; or (2) the improvements to be constructed in the Premises by Landlord shall have been substantially completed in accordance with the plans and specifications described on Exhibit C, whether or not substantial completion of the Building shall have occurred. If for any reason Landlord cannot deliver possession of the Premises to Tenant on the scheduled Term Commencement Date, Landlord shall not be subject to any liability therefor, nor shall Landlord be in default hereunder nor shall such failure affect the validity of this Lease, and Tenant agrees to accept possession of the Premises at such time as such improvements have been substantially completed, which date shall then be deemed the Term Commencement Date. Tenant shall not be liable for any Rent for any period prior to the Term Commencement Date (but without affecting any obligations of Tenant under any work letter appended to this Lease). In the event of any dispute as to substantial completion of work performed or required to be performed by Landlord, the certificate of Landlord's architect or general contractor shall be conclusive. Substantial completion shall have occurred notwithstanding Tenant's submission of a punchlist to Landlord, which Tenant shall submit, if at all, within fifteen (15) days after the Term Commencement Date. Upon Landlord's request, Tenant shall promptly execute and return to Landlord a Start-Up Letter in which Tenant shall confirm, among other things, the acceptance of the Premises and the determination of the Term Commencement Date, in accordance with the terms of this Lease.

Possession and Lease Commencement. Landlord and Tenant acknowledge that Landlord has not yet completed the improvements constituting the Building and the Premises. The scheduled term commencement date ("Term Commencement Date") shall be of this Lease is April 1, 1988 and the earlier of the scheduled termination date on which: (1) Tenant takes possession of some or all of the Premises and opens for business therein; or (2) the improvements to be constructed in the Premises by Landlord shall have been substantially completed in accordance with the plans and specifications described on Exhibit Cis March 31, whether or not substantial completion of the Building shall have occurred1993. If Notwithstanding said commencement date, if for any reason Landlord cannot deliver possession of the Premises to Tenant on the scheduled Term Commencement Datesaid date, Landlord shall not be subject to any liability therefortherefore, nor shall Landlord be in default hereunder nor shall such failure affect the validity of this LeaseLease or the obligations of Tenant hereunder, and but in such case Tenant agrees shall not be obligated to accept pay rent until possession of the Premises is tendered to Tenant; provided, however, that if Landlord shall not have delivered possession of the Premises within one hundred twenty (120) days from the said scheduled term commencement date, Tenant may, at Tenant's option, by notice in writing to Landlord within thirty (30) days thereafter, cancel this Lease, in which event the parties shall be discharged from all obligations hereunder and neither party shall have any further obligations to each other under this Lease Agreement. If Tenant occupies the Premises prior to said scheduled term commencement date, said occupancy shall be subject to all provisions hereof, such time occupancy shall not advance the scheduled term termination date, and Tenant shall pay rent for such period at the initial monthly rates set forth under the Basic Lease Information. Possession of the Premises shall take place upon the day immediately following the vacation of the Premises by Sysorex, Inc. The Premises shall be delivered to Tenant in "as-is" physical condition. Tenant further acknowledges that no representations as such improvements to the condition or repair of the Premises nor promises to alter, remodel or improve the Premises have been substantially completed, which date shall then be deemed the Term Commencement Date. Tenant shall not be liable for any Rent for any period prior to the Term Commencement Date (but without affecting any obligations of Tenant under any work letter appended to this Lease). In the event of any dispute as to substantial completion of work performed or required to be performed made by Landlord, the certificate of Landlord's architect or general contractor shall be conclusiveunless such are expressly set forth in this Lease. Substantial completion shall have occurred notwithstanding Tenant's submission of a punchlist to LandlordTenant shall, which Tenant shall submitupon demand, if at all, within fifteen (15) days after the Term Commencement Date. Upon Landlord's request, Tenant shall promptly execute and return deliver to Landlord a Start-Up Letter in which Tenant shall confirm, among other things, the letter of acceptance of the Premises and the determination delivery of the Term Commencement Date, in accordance with the terms of this LeasePremises.

Possession and Lease Commencement. Landlord and Tenant acknowledge that Landlord has not yet completed the improvements constituting the Building and the Premises. The term commencement date ("“Term Commencement Date"”) shall be the earlier of the date on which: (1) Tenant takes possession of some or all of the Premises and opens for business therein; or (2) the improvements to be constructed in the Premises by Landlord shall have been substantially completed in accordance with the plans and specifications described on Exhibit C, whether or not substantial completion of the Building shall have occurred. If for any reason Landlord cannot deliver possession of the Premises to Tenant on the scheduled Term Commencement Date, Landlord shall not be subject to any liability therefor, nor shall Landlord be in default hereunder nor shall such failure affect the validity of this Lease, and Tenant agrees to accept possession of the Premises at such time as such improvements have been substantially completed, which date shall then be deemed the Term Commencement Date. Tenant shall not be liable for any Rent for any period prior to the Term Commencement Date (but without affecting any obligations of Tenant under any work letter appended to this Lease). In the event of any dispute as to substantial completion of work performed or required to be performed by Landlord, the certificate of Landlord's ’s architect or general contractor shall be conclusive. Substantial completion shall have occurred notwithstanding Tenant's ’s submission of a punchlist to Landlord, which Tenant shall submit, if at all, within fifteen (15) days after the Term Commencement Date. Upon Landlord's ’s request, Tenant shall promptly execute and return to Landlord a Start-Up Letter in which Tenant shall confirm, among other things, the acceptance of the Premises and the determination of the Term Commencement Date, in accordance with the terms of this Lease.

Possession and Lease Commencement. Landlord and Tenant acknowledge that Landlord has not yet completed In the event this Lease pertains to a Premises in which the interior improvements constituting have already been constructed (existing improvements), the Building provisions of this Paragraph 2.A shall apply and the Premises. The term commencement date ("Term Commencement Date") Date shall be the earlier of the date on which: which (1) Tenant takes possession of some or all of the Premises and opens for business therein; Premises, or (2) the improvements to be constructed in Landlord delivers the Premises by Landlord shall have been substantially completed in accordance with the plans and specifications described on Exhibit C, whether or not substantial completion of the Building shall have occurredto Tenant. If for any reason Landlord cannot deliver possession of the Premises to Tenant on the scheduled Scheduled Term Commencement Date, Landlord shall not be subject to any liability therefor, nor shall Landlord be in default hereunder nor shall such failure affect the validity of this Leasehereunder, and Tenant Xxxxxx agrees to accept possession of the Premises at such time as such improvements have been substantially completedLandlord is able to deliver the same, which date shall then be deemed the Term Commencement Date. Tenant shall not be liable for any Rent for any period prior to delivery of the Premises. Tenant acknowledges that it has inspected and accepts the Premises in their present condition as suitable for the purpose for which the Premises are leased. Xxxxxx agrees that said Xxxxxxxx and other improvements are in good and satisfactory condition as of when possession was taken. Tenant further acknowledges that no representations as to the condition or repair of the Premises, nor promises to alter, remodel, or improve the Premises have been made by Landlord, unless such are expressly set forth in this Lease. In the event this Lease pertains to a Building to be constructed or improvements to be constructed within a Building, the provisions of this Paragraph 2.B shall apply in lieu of the provisions of Paragraph 2.A above and the Term Commencement Date shall be the earlier of the date on which (1) Tenant takes possession of some or all of the Premises (subject to Section 42) or (2) Landlord delivers possession of the Premises to Tenant Substantially Complete (as defined in the Tenant Improvement Work Letter attached hereto as Exhibit F and incorporated herein) in accordance with the plans and specifications described on Exhibit B attached hereto and incorporated herein by reference (the "Plans"). Tenant shall, upon demand on or after the Term Commencement Date, execute and deliver to Landlord a letter of acceptance of delivery of the Premises. If for any reason Landlord cannot deliver possession of the Premises to Tenant on the Scheduled Term Commencement Date, Landlord shall not be subject to any liability therefor, nor shall Landlord be in default hereunder, and Xxxxxx agrees to accept possession of the Premises at such time as Landlord is able to deliver the same, which date shall then be deemed the Term Commencement Date; provided, however, that if Landlord does not deliver possession of the Premises on or before the date that is one hundred twenty (120) days after the Scheduled Term Commencement Date (the "Outside Date"), Xxxxxx's sole remedy shall be the right to deliver a notice to Landlord (the "Outside Date Termination Notice") electing to terminate this Lease effective on Landlord's receipt of the Outside Date Termination Notice. The Outside Date Termination Notice must be delivered by Tenant to Landlord, if at all, no earlier than the Outside Date and no later than five (5) business days after the Outside Date. Within ten (10) days after Xxxxxxxx's request, Tenant shall execute a lease confirmation in the form attached hereto as Exhibit C and incorporated herein by reference. TERM The Term of this Lease shall commence on the Term Commencement Date and continue in full force and effect for the number of months specified as the Length and Term in the Basic Lease Information or until this Lease is terminated as otherwise provided herein. If the Term Commencement Date is a date other than the first day of the calendar month, the Term shall be the number of months of the Length of Term in addition to the remainder of the calendar month following the Term Commencement Date (but without affecting any obligations of Tenant under any work letter appended to this Lease). In the event of any dispute as to substantial completion of work performed or required to be performed by Landlorddate on which the Term ends, the certificate of Landlord's architect or general contractor shall be conclusive. Substantial completion shall have occurred notwithstanding Tenant's submission of a punchlist to Landlord, which Tenant shall submit, if at all, within fifteen (15) days after the Term Commencement "Expiration Date. Upon Landlord's request, Tenant shall promptly execute and return to Landlord a Start-Up Letter in which Tenant shall confirm, among other things, the acceptance of the Premises and the determination of the Term Commencement Date, in accordance with the terms of this Lease").

Possession and Lease Commencement. Landlord and Tenant acknowledge that Landlord has not yet completed the improvements constituting the Building and the Premises. The term scheduled commencement date for the payment of rent under the Lease is March 1, 2013, ("Term “Rent Commencement Date") ”). Landlord shall be use best efforts to provide access to Tenant to construct the earlier of the date on which: (1) Tenant takes possession of some or all of the Premises and opens for business therein; or (2) the tenant improvements to be constructed as set forth in the Premises by Landlord shall have been substantially completed in accordance with the plans and specifications described Leasehold Improvements Agreement attached as Exhibit B on Exhibit Cor before December 1, whether or not substantial completion of the Building shall have occurred2012. If However, if for any reason Landlord cannot deliver possession of the Premises to Tenant on the scheduled Term Commencement Datedates scheduled, Landlord shall not be subject to any liability therefortherefore, nor shall Landlord be in default hereunder nor shall such failure affect the validity of this Lease, and . Tenant agrees to accept possession of the Premises at such time as such improvements have been substantially completedthe Landlord tenders possession of the Premises to Tenant, which date shall then be deemed the Term “Commencement Date.” Tenant has inspected and accepts the Premises in its present condition, broom cleaned, and “as is”. Tenant represents that the Premises and improvements existing thereon are in good order, condition and repair as of the Commencement Date. Tenant shall not be liable for any Rent for any period prior further acknowledges that no representations as to the Term Commencement Date (but without affecting condition or repair of the Premises nor promises to alter, remodel or improve the Premises have been made by Landlord or any obligations agents of Tenant under any work letter appended to Landlord unless such are expressly set forth in this Lease). In the event Landlord shall be responsible, at Landlord’s sole cost and expense, for completion of any dispute as and all alterations and/or repairs to substantial completion of work performed or the Premises, the Building and/or the Project that are required to be performed by Landlordcomply with applicable laws including, without limitation, laws and regulations pertaining to (i) the certificate Americans with Disabilities Act of Landlord's architect or general contractor shall be conclusive. Substantial completion shall have occurred notwithstanding Tenant's submission 1990, 42 U.S.C. § 12101 et seq., as amended (“ADA”); (ii) Hazardous Materials, as defined in Paragraph 3 7 of a punchlist to Landlordthis Lease; and (iii) applicable building codes and regulations, which Tenant shall submit, if at all, within fifteen (15) days after in effect as of the Term Commencement Date. Upon Landlord's requestNotwithstanding the foregoing, Tenant shall promptly execute be responsible, at Tenant’s sole cost and return expense, for any and all alterations and/or repairs to Landlord a Start-Up Letter in which Tenant shall confirm, among other things, the acceptance of the Premises and the determination portions of the Term Building and Project exclusively occupied by Tenant that are required to comply with any Regulation (as defined in Paragraph 4.C. below) becoming effective following the Commencement Date, Date so long as Tenant’s actions or inaction caused said need for compliance. Compliance requirements triggered by Landlord or other Tenants in accordance with the terms of this LeaseBuilding shall be borne by Landlord at Landlord’s sole expense.

Possession and Lease Commencement. Landlord and Tenant acknowledge that Landlord has not yet completed EXISTING IMPROVEMENTS. If this Lease pertains to a Premises in which the interior improvements constituting have already been constructed ("EXISTING IMPROVEMENTS"), the Building provisions of this Paragraph 2. shall apply and the Premises. The term commencement date ("Term Commencement DateTERM COMMENCEMENT DATE") shall be the earlier of the date on which: (1) Tenant takes possession of some or all of the Premises and opens for business thereinPremises; or (2) the improvements to be constructed in the Premises by Landlord shall have been substantially completed in accordance with the plans and specifications described on Exhibit CDecember 1, whether or not substantial completion of the Building shall have occurred2000. If for any reason Landlord cannot deliver possession of the Premises to Tenant on the scheduled Term Commencement Date, Landlord shall not be subject to any liability therefortherefore, nor shall Landlord be in default hereunder nor shall such failure affect the validity of this Lease, and Tenant agrees to accept possession of the Premises at such time as such improvements have been substantially completedLandlord is able to deliver the same, which date shall then be deemed the Term Commencement Date. Tenant shall not be liable for any Rent (defined below) for any period prior to the Term Commencement Date Date. Tenant acknowledges that Tenant has inspected and accepts the Premises in their present condition, "as is" AND IN GOOD REPAIR, and as suitable for the Permitted Use (but without affecting as defined below), and for Tenant's intended operations in the Premises. Tenant agrees that the Premises and other improvements are in good and satisfactory condition as of when possession was taken. Tenant further acknowledges that no representations as to the condition or repair of the Premises nor promises to alter, remodel or improve the Premises have been made by Landlord or any obligations agents of Tenant under any work letter appended to Landlord unless such are expressly set forth in this Lease). In the event of any dispute as to substantial completion of work performed or required to be performed by Landlord, the certificate of Landlord's architect or general contractor shall be conclusive. Substantial completion shall have occurred notwithstanding Tenant's submission of a punchlist to Landlord, which Tenant shall submit, if at all, within fifteen (15) days after the Term Commencement Date. Upon Landlord's request, Tenant shall promptly execute and return to Landlord a "Start-Up Letter Letter" in which Tenant shall confirmagree, among other things, the to acceptance of the Premises and to the determination of the Term Commencement Date, in accordance with the terms of this Lease, but Tenant's failure or refusal to do so shall not negate Tenant's acceptance of the Premises or affect determination of the Term Commencement Date. To the best of Landlord's knowledge, all elevators, HVAC and other building systems are in good working order.