Tenant’s Initial Construction Obligations Sample Clauses

Tenant’s Initial Construction Obligations. Subject to the other terms and conditions of this Lease, Tenant shall, as expeditiously as possible consistent with sound construction practices, complete, at its expense, the construction of the Club, the Deck and all required initial tenant improvements to the Office Space; it being agreed, however, that in any and all events, Tenant shall have completed the construction of the Deck and all required initial tenant improvements to the Office Space on or before the date occurring 12 months after the Effective Date. If Tenant shall fail to complete any of such work of construction by such date, then Landlord may elect, in its sole discretion and from time to time, but shall not be obligated, to complete any or all of such work of construction, at Tenant's cost and expense. Any such sums so expended by Landlord shall constitute rent and be due Landlord by Tenant within five (5) business days of Landlord's presenting to Tenant reasonably satisfactory evidence that such sums either are due or have been paid. If Landlord shall elect, in its sole discretion, to complete any of such work, then Landlord may, at any time or from time to time thereafter, also elect, in its sole discretion, to cease any or all of such work of construction before its completion and with no liability whatsoever to Tenant as a result thereof. Tenant shall indemnify, defend and hold Landlord harmless from and against any and all claims, costs, damages, liabilities and losses of any kind or nature arising out of or in connection with any such election by Landlord, from time to time, either to complete or to cease all or any portion of such work of construction.