Structure and equipment Sample Clauses

Structure and equipment. 5.1.1 The Premises will be adapted to the Lessee’s needs by the JIZMD and/or parties on its behalf (hereinafter: “the Contractor”) according to plans and specifications that have been prepared by the JIZMD and approved by the Lessee, and which are attached hereto as Appendix “B” (Adaptation Works Appendix). The Contractor will use its best ability to complete the Adaptation Works by the date of the commencement of the lease but no delay in the delivery of the Premises by reason of the continuation of the Adaptation Works will confer upon the Lessee any right against the University or the JIZMD or the Contractor, but in such event, the date of the commencement of the lease will be deferred until the date of the conclusion of the Adaptation works. 5.1.2 Any further change that will be requested by the Lessee beyond that contained in Appendix “B”, will be made at the Lessee’s expense, by the Contractor or in accordance with its approval (subject and provided in clause 6.1 hereof) only. It is hereby expressly clarified that the JIZMD and/or the Contractor will finance the renovation works up to a cost cap of NIS 200,000 (exclusive of VAT). The Lessee will pay the full costs of the renovation in excess of the sum of NIS 200,000. The Lessee will, at the time of the signature of this Agreement, deliver a check to the order of the JIZMD in a sum of NIS 100,000 as an advance on account of its share of the cost of the renovation. 5.1.3 The taking of possession of the Premises by the Lessee and its signature on a delivery memorandum, will constitute approval on the part of the Lessee to the effect that it has examined the Premises and found the same to have been adapted in accordance with the provisions of this Agreement, and that it neither has nor will have any claims in relation to the performance of the works other than those that are contained in the memorandum. 5.1.4 To the extent the Lessee will wish, during the currency of the Lease Term, to effect renovation works at the Premises, it will be required to submit detailed work plans to the JIZMD and to the University, in writing, in advance. The Lessee will furnish to the JIZMD, prior to the commencement of the performance of the renovation works, with confirmation of the existence of insurances of the performing contractors of the renovation, in the form attached hereto as Appendix “D”, the same being signed by an insurance company. 5.1.5 On the conclusion of the performance of the renovation, all the improvem...