Common use of Substantial Completion and Punch List Clause in Contracts

Substantial Completion and Punch List. The terms “Substantial Completion” and “Substantially Complete” as applicable, shall mean when Tenant’s Improvements are sufficiently completed in accordance with the Construction Plans so that Tenant can reasonably use the Expansion Space for the Permitted Use. When Landlord considers Tenant’s Improvements to be Substantially Complete, Landlord will notify Tenant and within two (2) business days thereafter, Landlord’s representative and Tenant’s representative shall conduct a walk-through of the Expansion Space and identify any necessary touch-up work repairs and minor completion items as are necessary for final [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. completion of Tenant’s Improvements. Neither Landlord’s representative nor Tenant’s representative shall unreasonably withhold his agreement on the Punch List Items. Landlord will use reasonable efforts to cause the contractor to complete all Punch List Items within thirty (30) days after Landlord’s and Tenant’s agreement thereon.

Substantial Completion and Punch List. The terms “Substantial Completion” and “Substantially Complete,” as applicable, shall mean when Tenant’s Improvements are sufficiently completed in accordance with the Construction Plans so that Landlord can obtain a temporary or permanent certificate of occupancy for the Third Expansion Space and Tenant can reasonably use the Third Expansion Space for the Permitted UseUse (as described in Item 10 of the Basic Lease Provisions). When Landlord reasonably considers Tenant’s Improvements to be Substantially Complete, Landlord will notify Tenant and within two five (25) business days thereafter, Landlord’s representative and Tenant’s representative shall conduct a walk-through of the Third Expansion Space and identify any necessary touch-up work work, repairs and minor completion items as are necessary for final [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. completion of Tenant’s Improvements. Neither Landlord’s representative nor Tenant’s representative shall unreasonably withhold his agreement on the Punch List Itemspunch list items. Landlord will use reasonable efforts to cause the contractor to complete all Punch List Items punch list items within thirty (30) days after Landlord’s and Tenant’s agreement thereon.

Substantial Completion and Punch List. The terms “Substantial Completion” and “Substantially Complete,” as applicable, shall mean when Tenant’s Improvements are sufficiently completed in accordance with the Construction Plans so that Landlord can obtain a temporary or permanent certificate of occupancy for the 260 Expansion Space and Tenant can reasonably use the 260 Expansion Space for the Permitted UseUse (as described in Item 10 of the Basic Lease Provisions). When Landlord reasonably considers Tenant’s Improvements to be Substantially Complete, Landlord will notify Tenant and within two five (25) business days thereafter, Landlord’s representative and Tenant’s representative shall conduct a walk-through of the 260 Expansion Space and identify any necessary touch-up work work, repairs and minor completion items as are necessary for final [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. completion of Tenant’s Improvements. Neither Landlord’s representative nor Tenant’s representative shall unreasonably withhold his agreement on the Punch List Itemspunch list items. Landlord will use reasonable efforts to cause the contractor to complete all Punch List Items punch list items within thirty (30) days after Landlord’s and Tenant’s agreement thereon.

Substantial Completion and Punch List. The terms “Substantial Completion” and “Substantially Complete,” as applicable, shall mean when Tenant’s that the Initial Improvements are sufficiently completed complete in accordance with the Construction Plans so that Tenant 1001 3rd Avenue South - Select Comfort Corporation - NNN (2016 v1.1) can reasonably use the Expansion Space Premises for the Permitted Use. When Landlord considers Tenant’s Improvements acceptance of the Premises does not relieve Landlord of Landlord’s responsibility to correct defective work, nor does Tenant’s acceptance of the Premises change Landlord’s obligation to correct such defective work under warranty. Landlord’s Work must include, but not be Substantially Completelimited to, the following: (i) completion of all the requirements of Exhibit E entitled “Landlord’s Work Letter”, (ii) permanent utilities must be installed and operational at the Premises (including HVAC, gas, water and electricity, as well as a fully operational electrical panel), and (iii) issuance of a final Certificate of Occupancy; however, if the final Certificate of Occupancy cannot be issued until Tenant has finished Tenant’s build out, then a temporary Certificate of Occupancy can be issued with the understanding that Landlord is responsible for obtaining the Final Certificate of Occupancy. Fifteen (15) days prior to substantial completion of Landlord’s Work, Landlord will notify Tenant’s project manager of the scheduled completion of Landlord’s Work. Tenant and within two (2) business days thereafterwill schedule a walk through to complete Tenant’s punch list, with Landlord’s representative and Tenant’s representative shall conduct a walk-through of the Expansion Space and identify any necessary touch-up work repairs and minor completion items as are necessary for final [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. completion of Tenant’s Improvements. Neither to confirm Landlord’s representative nor Tenant’s representative shall unreasonably withhold his agreement on substantial completion and accept the Punch List Itemspremises and confirm the Delivery Date. Landlord will use reasonable efforts to cause the contractor to complete all Punch List Items All open punch list items must be completed within thirty (30) days after of submission of Tenant’s completed punch list to Landlord’s and Tenant’s agreement thereonrepresentative.