Common use of Adjustments to Commencement Clause in Contracts

Adjustments to Commencement. It is acknowledged that the Commencement Date specified in Section 1 is an estimated date. This Lease shall commence on the Commencement Date specified in Section 1 if Landlord’s Work, if any, is “substantially completed” (as that term is used in the construction industry) and a Certificate of Occupancy has been issued for the Premises by such date but otherwise the Commencement Date shall be adjusted to be the first to occur of the following events: (i) the date Landlord provides Tenant notice that Landlord’s Work is substantially complete and that a Certificate of Occupancy has been issued for the Premises; (ii) the date on which Tenant commences beneficial occupancy of the Premises; or (iii) if substantial completion of Landlord’s Work is delayed due to Tenant’s Delay (defined in the attached Work Letter), then the date determined by Landlord as the date upon which Landlord’s Work would have been substantially completed, but for such Tenant’s Delay. In no event shall Landlord have any liability for loss or damage to Tenant resulting in any delay in the Commencement Date, and Tenant’s sole recourse shall be the postponement of Rent and other obligations until the Commencement Date is established as set forth above; provided, however, that such date shall be extended by a period equal to any delays caused by force majeure or by any delays in space planning or preparation and approval of working drawings (“Planning Delays”); provided, further, however, that the Commencement Date shall not be extended due to Planning Delays caused by the party seeking the extension of the Commencement Date. The term

Adjustments to Commencement. It is acknowledged that the Estimated Commencement Date specified in Section 1 is an estimated date. This Lease shall commence on the Commencement Date specified in Section 1 if Landlord’s Work, if any, is “substantially completed” (as that term is used in the construction industry) and a Certificate of Occupancy has been issued for the Premises by such date but otherwise the Commencement Date shall be adjusted to be the first earlier to occur of the following eventsof: (i) the date Landlord provides delivers possession of the Premises to Tenant notice that with all Landlord’s Work is “substantially complete and that a Certificate of Occupancy has been issued for the Premises; (iicompleted”;(ii) the date on which Tenant takes possession and commences beneficial occupancy of the Premises; or (iii) if substantial completion of Landlord’s Work is actually delayed in whole or in part due to Tenant’s Tenant Delay (as defined in the attached Work LetterExhibit C), then the date as reasonably determined by Landlord Landlord’s architect as the date upon which Landlord’s Work would have been substantially completed, but for such Tenant’s Delayacts or omissions (such date, the “Commencement Date”). In Provided that Tenant continues to enjoy the use and occupancy of the Temporary Space (as defined in Exhibit F) on and subject to the terms and conditions contained in Exhibit F until such time as the Commencement Date has occurred, then in no event shall Landlord have any liability for loss or damage to Tenant resulting in any delay in the Commencement Date, nor shall Tenant have any right to terminate this Lease, and Tenant’s sole recourse shall be the postponement of Rent and other obligations until the Commencement Date is established as set forth above; provided. Notwithstanding the foregoing, howeverif Landlord has not delivered possession of the Premises to Tenant with Landlord’s Work substantially completed by September 1, that such date shall be extended by a period equal 2018 (the “Outside Commencement Date”) (subject to any delays caused by Tenant Delays, events of force majeure or by any delays in space planning or preparation and approval other events outside of working drawings (“Planning Delays”); providedLandlord’s reasonable control, further, however, that all of which shall serve to postpone the Outside Commencement Date day-for-day), then Tenant shall not be extended due have the right to Planning Delays caused by terminate this Lease upon written notice to Landlord given at any time after the party seeking Outside Commencement Date but prior to the extension date that Landlord delivers possession of the Commencement Date. The termPremises to Tenant with the Landlord’s Work substantially completed.