Common use of Ready for Occupancy Clause in Contracts

Ready for Occupancy. The Premises shall be deemed “Ready for Occupancy” upon the Substantial Completion of the Tenant Improvements. For purposes of this Lease, “Substantial Completion” of the Tenant Improvements shall occur upon the completion of construction of the Tenant Improvements in the Premises in a good, workmanlike manner and in compliance with applicable laws, pursuant to the Approved Working Drawings (as reasonably determined by Landlord), with the exception of any punch list items and any tenant fixtures, work-stations (including any related fixture and/or equipment electrification), built-in furniture, or equipment (including security and other Tenant systems) to be installed by Tenant or under the supervision of the contractor who constructs the Tenant Improvements (the “Contractor”), and the receipt of a temporary certificate of occupancy, or it legal equivalent, for the Premises. “Punch list” items are limited to immaterial defects in the Tenant Improvements that do not prohibit Tenant’s occupancy or unreasonably interfere with Tenant’s use of the Premises for the Permitted Use. Landlord shall promptly correct any punch list items in a reasonable time period and shall use commercially reasonable efforts to minimize interference with Tenant’s use of the Premises in so correcting any punch list items.

Ready for Occupancy. The For purposes of Section 2.1 of the Lease, the Premises shall be deemed “Ready for Occupancy” upon the Substantial Completion date that (i) Landlord delivers possession of the Premises to Tenant Improvements. For purposes of this Lease, “Substantial Completion” of with the Tenant Improvements Improvement Work substantially complete; and (ii) Tenant is legally permitted to occupy the Premises (as evidenced by a temporary or final certificate of occupancy, or final inspection and sign-off on the job card for the Tenant Improvement Work, or reasonable equivalent). Subject to Section 4.2 below, the Tenant Improvement Work shall occur be deemed “substantially complete” upon the completion of construction of the Tenant Improvements in the Premises in a good, workmanlike manner and in compliance with applicable laws, Improvement Work pursuant to the Approved Working Construction Drawings (as reasonably determined by Landlord), with the exception of (a) any punch list items and details of construction, mechanical adjustment or any tenant fixtures, workother similar matter the non-stations (including any related fixture and/or equipment electrification), built-in furniture, or equipment (including security and other Tenant systems) to be installed by Tenant or under the supervision completion of the contractor who constructs the Tenant Improvements (the “Contractor”), and the receipt of a temporary certificate of occupancy, or it legal equivalent, for the Premises. “Punch list” items are limited to immaterial defects in the Tenant Improvements that do which does not prohibit Tenant’s occupancy or unreasonably materially interfere with Tenant’s use of the Premises (“Punch List Items”), and (b) trade fixtures, workstations, telecommunications or computer cabling or built-in furniture or equipment to be installed by Tenant. Notwithstanding the foregoing, if Tenant takes possession and commences business operations in the Premises prior to the date that the Tenant Improvement Work is substantially complete, then the Premises shall be deemed to be Ready for Occupancy on the Permitted Usedate Tenant commences business operations in the Premises. The parties shall, with the Contractor, jointly determine the Punch List Items. Landlord shall promptly correct any punch list items in a reasonable time period and shall use commercially reasonable efforts to minimize interference with Tenant’s use of cause the Premises in so correcting any punch list itemsPunch List Items to be completed by the Contractor as soon practicable following the Commencement Date.

Ready for Occupancy. The Premises shall be deemed “Ready for Occupancy” upon the Substantial Completion of the Tenant ImprovementsPremises. For purposes of this Lease, “Substantial Completion” of the Tenant Improvements Premises shall occur upon the completion of construction of the Tenant Improvements in the Premises in a good, workmanlike manner and in compliance with applicable lawsmanner, pursuant to the Approved Working Drawings (as reasonably determined by Landlord)and in compliance with applicable laws to the extent required to allow Tenant to obtain a certificate of occupancy or its legal equivalent allowing the legal occupancy of the Premises for the Permitted Use, with the exception of any punch list items and any tenant fixtures, work-stations (including any related fixture and/or equipment electrification)stations, built-in furniture, or equipment (including security and other Tenant systems) to be installed by Tenant or under the supervision of the contractor who constructs the Tenant Improvements (the “Contractor”), and the receipt of . Landlord shall thereafter obtain a temporary certificate of occupancy, or it its legal equivalent, for the PremisesPremises within the time required pursuant to applicable laws. “Punch list” items are limited to immaterial minor and insubstantial defects in the Tenant Improvements that do not prohibit Tenant’s EXHIBIT B SORRENTO HIGHLANDS occupancy or unreasonably interfere with Tenant’s use of the Premises for the Permitted Use. Landlord shall promptly correct any punch list items in a reasonable time period and shall use commercially reasonable efforts to minimize interference with Tenant’s use of the Premises in so correcting any punch list items.