Initial Tenant Finish definition

Initial Tenant Finish means the Premises in its as-is condition as modified by all work, if any, performed by Landlord at its expense prior to the Commencement Date in accordance with the Work Letter. Except as provided in the Work Letter, Landlord has no obligation for the completion or remodeling of the Premises, and Tenant accepts the Premises in its "as is" condition upon delivery by Landlord in accordance with the Work Letter (subject to punchlist items and latent defects, such items and defects to be resolved pursuant to the Work Letter). If Landlord is delayed in delivering Phase I of the Premises to Tenant in accordance with the Work Letter, then the Commencement Date will be postponed to the date Landlord delivers Phase I to Tenant. If delivery is on other than the first day of the month, then the Commencement Date (for purposes of triggering the running of the Initial Term of 10 years and 4 months) will be the first day of the month following the delivery date for Phase I but all provisions hereof, including Tenant's obligation to pay Rent (prorated for a partial month), will be in effect as of the delivery date. The postponement of Tenant's obligation to pay Rent is in full settlement of all claims which Tenant may otherwise have by reason of such delay. If the Phase II Completion Date is delayed beyond January 1, 2001, the Expiration Date shall be extended so that the Initial Term expires at the end of the month 10 years following the Phase II Completion Date. As soon as the Phase II Completion Date occurs, Landlord and Tenant agree to execute a commencement agreement in the form attached as Exhibit D setting forth the exact Commencement Date and Expiration Date. Notwithstanding the foregoing or the Work Letter, if the Commencement Date has not occurred by March 15, 2001 (the "Outside Date"), as such date shall be extended on a day-for-day basis due to "Tenant Delay" as defined in the Work Letter, or causes beyond Landlord's reasonable control (up to a maximum of 30 days), Tenant, at its sole option, may terminate this Lease upon notice to Landlord given no later than 10 days after the Outside Date. If Tenant exercises its right to terminate hereunder, effective on the day such notice is received by Landlord, this Lease will be null and void and of no further force and effect. If Tenant fails to timely exercise its right to terminate, this Lease will continue in full force and effect and the Commencement Date will be established in accordance with the Work Letter.

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Initial Tenant Finish means the Premises in its as-is condition as modified by all work, if any, performed by Landlord at its expense prior to the respective Delivery Dates in accordance with the Work Letter. Except as provided in and subject to the Work Letter, Landlord has no obligation for the completion or remodeling of the Premises. Tenant will accept the Premises in its "as is" condition on the Delivery Date.

Examples of Initial Tenant Finish in a sentence

All such work relating to Alterations shall be performed in a good and workmanlike manner, using new materials and equipment at least equal in quality to the Initial Tenant Finish.
Tenant shall pay for all work done on the Premises by Tenant or at its request (other than the Initial Tenant Finish) of a character which may result in liens on Landlord's or Tenant's interest and Tenant will keep the Premises free of all mechanics' liens, and other liens on account of such work.
Tenant shall pay for all work done on the Premises by Tenant or at its request (other than the Initial Tenant Finish) of a character which may result in liens on Landlord's or Tenant's interest and Tenant will keep the Premises free of all construction liens, and other liens on account of such work.
If the final cost for the Initial Tenant Finish exceeds the Landlord's Contribution Tenant shall reimburse such excess Initial Tenant Finish Costs, from time to time, as Initial Tenant Finish progresses, within ten (10) days after submission by Landlord to Tenant of an invoice for the amount as then due and payable.
If during the first year of the Initial Term, Tenant discovers a defect in the Initial Tenant Finish that (a) was not reasonably discoverable during the Inspection; and (b) was not caused by the actions of Tenant or anyone acting by, through or under Tenant (each a “Latent Defect”), provided that Landlord is notified by Tenant of the Latent Defect within, five (5) days of Tenant's discovery thereof, Landlord shall correct such Latent Defect to the Parties reasonable satisfaction.
Landlord shall construct the base-building core and shell, as generally described on attached Schedule 1, the sitework on the Real Property, and the surface parking areas on the Real Property (collectively, the "Base Building Work"), and the Initial Tenant Finish improvements in the Premises (the Base Building Work and the Initial Tenant Finish being collectively referred to herein as the "Landlord's Work").
All such work relating to Alterations shall be performed in a good and workmanlike manner, using materials and equipment at least equal in quality to the Initial Tenant Finish, and shall comply with the rules and regulations relating to construction activities in the Building promulgated from time to time by Landlord for the Building.
All such work relating to Alterations shall be performed in a good and workmanlike manner, using new materials and equipment at least, equal in quality to the Initial Tenant Finish.
Landlord shall notify Tenant of the pending substantial completion of the Initial Tenant Finish; whereupon the Parties shall schedule an inspection of the Premises to be conducted prior to the Commencement Date, at which Tenant and Landlord shall inspect only the components of the Initial Tenant Finish (the “Inspection”) and shall mutually agree upon items of work from the Initial Tenant Finish that are not satisfactorily completed (The “Punch List Items”).
Other than provided in the Work Letter, Tenant shall pay for all work done on the Premises by Tenant or at its request (other than the Initial Tenant Finish) of a character which may result in liens on Landlord's or Tenant's interest and Tenant will keep the Premises free of all construction liens, and other liens on account of such work.

More Definitions of Initial Tenant Finish

Initial Tenant Finish means the Premises in its as-is condition as modified by all work, if any, performed by Landlord at its expense prior to the Commencement Date in accordance with the Work Letter or paid for by Landlord from the Allowance in accordance with the Work Letter, as applicable. Except as provided in the Work Letter, Landlord has no obligation for the completion or remodeling of the Premises, and Tenant accepts the Premises in its "as is" condition on the Commencement Date, subject to the provisions of the Work Letter. If Landlord is delayed in delivering the Premises or a portion thereof to Tenant in accordance with the Work Letter, the provisions of the Work Letter shall control delivery of such space, the commencement of Rent and the determination of the Commencement Date. The postponement of Tenant's obligation to pay Rent is in full settlement of all claims which Tenant may otherwise have by reason of such delay. If the Commencement Date is delayed in accordance with the Work Letter, the Expiration Date shall be extended so that the Term will continue for the full period set forth in Section 1.3. As soon as the Term commences, Landlord and Tenant agree to execute a commencement agreement in the form attached as Exhibit D, setting forth the exact Commencement Date and Expiration Date.