Beneficial Occupancy Clause Sample Clauses
A Beneficial Occupancy Clause defines the terms under which an owner or tenant may begin using or occupying a property before the completion of all construction or contractual obligations. Typically, this clause outlines the conditions that must be met for early occupancy, such as safety certifications or partial completion of certain areas, and may specify responsibilities for maintenance, insurance, or liability during this period. Its core practical function is to allow flexibility for the occupant to move in and use the premises as soon as it is reasonably safe and functional, while clearly allocating responsibilities and risks between the parties during the interim period before final completion.
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Beneficial Occupancy Clause. The policy shall specifically permit partial or beneficial occupancy at or before substantial completion or final acceptance of the entire work. The Contractor shall take reasonable steps to obtain any necessary consent of the insurance company or companies and agrees to take no action, other than upon mutual written consent, with respect to occupancy or use of the work that could lead to cancellation, lapse or reduction of insurance;
Beneficial Occupancy Clause. The policy shall specifically permit partial or beneficial occupancy at or before substantial completion or final acceptance of the entire work. No insurance shall be cancelled or allowed to lapse on account of partial or beneficial occupancy. The University of Colorado and Design/Build Entity shall take reasonable steps to obtain consent of the insurance company or companies and agree to take no action, other than upon mutual written consent, with respect to occupancy or use of the work that could lead to cancellation, lapse or reduction of insurance.