Final Occupancy definition

Final Occupancy means when all outstanding items on a partial Occupancy including grading have been completed;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Final Occupancy means when the City or County, as applicable, has issued a certificate of occupancy, or for projects in which no certificate of occupancy will be issued, final inspection has been conducted and approved.

Final Occupancy. Shall be defined as the substantial completion of all works and finishes of the interior part of the industrial area and office area, as well as all the exterior parts and infrastructure of the LESSOR Improvements, in order to allow the LESSEE to make use of the Leased Property to commence normal unfolding of its operations unhindered, excluding non functional aesthetical issues or the punch list, without exceeding the amount of $66,000.00 Dollars, legal currency of the United States of America, regarding the construction costs of the LESSOR Improvements, in compliance with what is stated in Attachment "B" herein. In the event the cost for the construction of what is stated in the punch list exceeds the amount of $66,000.00 Dollars, legal currency of the United States of America, the date of the Final Occupancy shall be deferred in accordance with what is stated in Clause 2.

Examples of Final Occupancy in a sentence

• The Purchaser hereby waives the obligation of the Vendor to provide Thirty (30) days’ advance notice of the Confirmed Final Occupancy Date, and the Purchaser agrees that closing shall otherwise occur in accordance with the Purchase Contract on the Confirmed Final Occupancy Date as stated above.

• Subject to the terms of the Section 14(k) of this Agreement, possession of the Unit shall be given at noon on the Confirmed Final Occupancy Date and the Purchaser shall be required to take possession of the Unit on the Confirmed Final Occupancy date, subject to the terms hereof being complied with.

• The parties acknowledge pursuant to Paragraph 1 above that until full occupancy of Final Occupancy Premises is delivered, Catalytica shall only pay Base Rent on those portions of the Final Occupancy Premises delivered by CESI for occupancy by Catalytica.

• For purposes hereof, Beneficial and Final Occupancy shall be defined as follows: Beneficial Occupancy.- Shall be defined as the delivery to LESSEE of the industrial portion of the Improvements including walls, roof, floor slab, docks, in order that LESSEE may move in its equipment into the LEASED PREMISES, and that such equipment and any tenant Improvements that may be installed, be secured and not be damaged by weather or the process of construction.

• The Town and Developer agree that Final Occupancy of the proposed building(s), as required in the Building By-law, shall not occur until all conditions above have been met to the satisfaction of the Development Officer and an Occupancy Permit has been issued.

• Vacant possession of the Unit shall be given at noon on the Confirmed Final Occupancy Date and the Purchaser shall be required to take possession of the Unit on the Confirmed Final Occupancy date, subject to the terms hereof being complied with.

• Subject to the terms and conditions set forth ------------------ herein, Catalytica agrees to occupy the Final Occupancy Premises consisting of 10,910 square feet of laboratory space ("Lab Space") and 10,310 square feet of office space ("Office Space") shown on Exhibit B.

• Notwithstanding, Final Occupancy shall exclude minor cosmetic items, or a punch list of items not to exceed a total construction cost of US $100,000 Dollars of the Lessor's Construction Obligations.

• Catalytica shall advise CESI of any Hazardous Materials used or proposed for use in, on, under or about the Final Occupancy Premises.

• All monies other than Base Rent required to be --------------- paid by Catalytica under this Agreement with respect to the Final Occupancy Premises shall be deemed additional rent ("Additional Rent").