Common use of Completion and Occupancy Clause in Contracts

Completion and Occupancy. The Tenant has examined and shall accept the premises in their existing condition and state of repair and understands that no work is to be performed by the Landlord in connection therewith except such work, if any, as the Landlord may be required to do by the terms hereof in the layout or finish of the premises. If the Landlord shall be required by the terms hereof to do any work in the layout or finish of the premises, the Landlord, either through its own employees or through a contractor or contractors to be engaged by it for such purpose, will proceed with due dispatch, subject to delay by causes beyond its reasonable control and to the vacating and surrendering of the premises by any present occupant thereof, to do all of such work during regular working hours and will exercise all reasonable efforts to complete all of such work not later than the specific date hereinabove designated for the commencement of the term hereof. If the Landlord is required by the terms hereof to do any such work without expense to the Tenant and the cost of such work is increased due to any delay resulting from any act or omission of the Tenant, its agents or employees, the Tenant shall pay to the Landlord an amount equal to such increase in cost. Unless otherwise specifically provided herein, if the premises shall not be available for occupancy by the Tenant on the specific date hereinabove designated for the commencement of the term hereof for any reason, including noncompletion by the Landlord of such work as it shall be required by the terms hereof to do in connection with the layout or finish of the premises, then this Lease shall not be affected thereby but, in such case, said specific date shall be deemed to be postponed until the date when the premises shall be available for occupancy by the Tenant, provided, however, that there shall be no such postponement of said specific date for any period of delay in the availability of the premises for occupancy by the Tenant which shall be due to (a) any act or omission of the Tenant, its agents or employees, including, without limitation, delays due to changes in or additions to any work to be done by the Landlord as aforesaid or delays in submission of information, approving working drawings or estimates or giving authorizations or approvals, (b) any additional time for completion of such work which may be required because of the inclusion in such work of any work which may hereinafter be defined as "Special Work", or (c) the noncompletion by the Landlord of any work, whether in connection with the layout or finish of the premises or otherwise, which the Landlord is not required to do by the terms hereof until after the term commencement date, it being understood that the Tenant shall have no claim against the Landlord, and the Landlord shall have no liability to the Tenant, by reason of any such postponement of said specific date. No part of the premises shall be deemed unavailable for occupancy by the Tenant, nor shall any work which the Landlord is obligated to perform in such part of the premises be deemed incomplete for the purpose of any adjustment of fixed rent payable hereunder, solely due to the noncompletion of details of construction, decoration or mechanical adjustments which are minor in character and the noncompletion of which does not materially interfere with the Tenant's use of such part of the premises. Pursuant to Section 223-a of the Real Property Law of the State of New York and notwithstanding any other law of like import now or hereafter in force, the parties hereto expressly provide that, if the premises are not available for occupancy by the Tenant on the term commencement date due to any cause of the nature referred to in the preceding clause (a), (b) or (c) of this paragraph, the Tenant, except with the consent of the Landlord, shall not be entitled to possession of the premises until the same are available for occupancy by the Tenant and there shall be no abatement of fixed rent by reason thereof and the Tenant shall not have any claim against the Landlord nor any right to rescind this Lease, and the Landlord shall have no liability to the Tenant, by reason thereof. The Tenant by entering into occupancy of any part of the premises shall be conclusively deemed to have agreed that the Landlord, up to the time of such occupancy, had performed all of its obligations hereunder with respect to such part and that such part, except for latent defects and except for minor details of construction, decoration and mechanical adjustment referred to above, was in satisfactory condition as of the date of such occupancy, unless within 10 days after such date the Tenant shall give notice to the Landlord specifying the respects in which the same was not in such condition.

Completion and Occupancy. The 2.3.1 Subject to the performance of Landlord’s Work (as hereinafter defined) and as otherwise set forth herein, Tenant has examined acknowledges that it is leasing the Premises on an “as-is” basis and that all tenant improvement costs requested or desired shall accept be made by Tenant at its sole cost. Landlord hereby grants Tenant the premises in their right to demolish the existing condition and state of repair and understands that no work is to be performed by the Landlord in connection therewith except such work, if any, as the Landlord may be required to do by the terms hereof improvements in the layout or finish Premises, including but not limited to the dismantling and removal of the premisesdemountable wall systems. Landlord shall deliver the 30 ton Trane rooftop unit (the “Supplemental Unit”) to Tenant in good operating order and condition; it being understood that Tenant shall have no right to utilize the other existing rooftop HVAC equipment. Tenant shall endeavor to complete the Tenant’s Work set forth in Article III hereof and to have the Premises ready for occupancy on or before the specific date hereinbefore designated for the Rent Commencement Date. If the Landlord shall be required by Premises are not ready for the terms hereof to do any work in the layout or finish of the premisesTenant’s occupancy on said specific date, the Landlord, either through its own employees or through a contractor or contractors to be engaged by it for such purpose, will proceed with other than due dispatch, subject to delay by causes beyond its reasonable control and to the vacating and surrendering failure of the premises by any present occupant thereof, Landlord to do all of such work during regular working hours and will exercise all reasonable efforts to timely complete all of such work not later than the specific date hereinabove designated for the commencement of the term hereof. If the Landlord is required by the terms hereof to do any such work without expense to the Tenant and the cost of such work is increased due to any delay resulting from any act or omission of the Tenant, its agents or employees, the Tenant shall pay to the Landlord an amount equal to such increase in cost. Unless otherwise specifically provided herein, if the premises shall not be available for occupancy by the Tenant on the specific date hereinabove designated for the commencement of the term hereof for any reason, including noncompletion by the Landlord of such work as it shall be required by the terms hereof to do in connection with the layout or finish of the premisesLandlord’s Work, then this Lease shall not be affected thereby but, in such case, said specific date and Tenant shall be deemed to be postponed until the date when the premises not have any claim against Landlord or any claim that Fixed Minimum Rent shall be available for occupancy by the Tenant, provided, however, that there shall be no such postponement of said specific date for any period of delay in the availability of the premises for occupancy by the Tenant which shall not be due to (a) any act or omission of on the Tenant, its agents or employees, including, without limitation, delays due to changes in or additions to any work to be done by the Landlord as aforesaid or delays in submission of information, approving working drawings or estimates or giving authorizations or approvals, (b) any additional time for completion of such work which may be required because of the inclusion in such work of any work which may hereinafter be defined as "Special Work", or (c) the noncompletion by the Landlord of any work, whether in connection with the layout or finish of the premises or otherwise, which the Landlord is not required to do by the terms hereof until after the term commencement date, it being understood that the Tenant shall have no claim against the LandlordRent Commencement Date, and the Landlord shall have no liability to the Tenant, by reason of any such postponement of said such specific date. No part Landlord shall be responsible for (i) removing from the Premises all kitchen equipment and loose furniture and equipment located in the Premises (including but not limited to all free standing chairs, file cabinets, desks, credenzas and book cases) and (ii) in the Training Room located in the Premises, for dismantling and removing all fixtures, built-in and free standing desks, and the podium (collectively, the “Initial Work”). Landlord shall complete the Initial Work within thirty (30) days of the premises execution of this Lease. In addition to the Initial Work, Landlord shall be responsible to remove the vault from the Premises (the “Vault Removal”). Landlord shall use its best efforts to complete the Vault Removal within thirty (30) days of the execution of this Lease. The Building currently includes an internal stairwell between the second and third floors of the Building. In addition to the Initial Work and the Vault Removal, Landlord shall be responsible to (i) close off the internal stairwell so that the Premises shall be secure from the other floors of offices in the Building and (ii) ensure HVAC capacity in order to comply with the performance specifications set forth in Exhibit “D” attached hereto (collectively, the “Supplemental Work”). (The Initial Work, the Vault Removal and the Supplemental Work are hereinafter collectively referred to as the “Landlord’s Work.”) Within thirty (30) days of the execution of this Lease, Landlord shall provide Tenant with copies of all plans and drawings for the Supplemental Work for Tenant’s review and approval, which approval shall not be unreasonably withheld. Tenant shall complete its review and approval of said plans and drawings within seven (7) business days after receipt. In performing the Supplemental Work, Landlord shall comply with all applicable fire safety regulations related to the stairwell. Landlord shall complete the Supplemental Work no later than May 31, 2002. Landlord shall notify Tenant when the Initial Work, the Vault Removal and the Supplemental Work, respectively, is completed. Following each such notice of completion, Tenant shall have the right to inspect the work and notify Landlord of any objection or inadequacy of the work within fifteen (15) days after Landlord’s notice to Tenant of its completion. Following receipt of such notice, Landlord shall have a right to correct any objection contained in such notice from Tenant or other deficiency raised by Tenant as to the adequacy of such work. In the event Tenant fails to so notify Landlord within said fifteen (15) day period, Tenant shall be deemed unavailable to have accepted such work as complete. Following completion of the Initial Work, Tenant shall have access to the Premises for occupancy by commencement of the Tenant, nor shall any work which ’s Work and installation of Tenant’s furniture and other improvements. If Landlord fails to complete the Landlord is obligated to perform in such part of the premises be deemed incomplete for the purpose of any adjustment of fixed rent payable hereunder, solely due to the noncompletion of details of construction, decoration or mechanical adjustments which are minor in character and the noncompletion of which does not materially interfere with the Tenant's use of such part of the premises. Pursuant to Section 223-a of the Real Property Law of the State of New York and notwithstanding any other law of like import now or hereafter in forceInitial Work, the parties hereto expressly provide thatVault Removal or the Supplemental Work, if respectively, within the premises are not available for occupancy by respective times set forth herein, Tenant shall have the Tenant on right to complete such work at the term commencement date due to any cause expense of the nature referred to in the preceding clause (a), (b) or (c) of this paragraph, the Tenant, except with the consent of the Landlord, shall not be entitled to possession of the premises until the same are available for occupancy by the Tenant and there shall be no abatement of fixed rent by reason thereof and the Tenant shall not have any claim against the Landlord nor any right to rescind this Lease, and the Landlord shall have no liability to the Tenant, by reason thereof. The reimburse Tenant by entering into occupancy of any part of the premises shall be conclusively deemed to have agreed that the Landlord, up to the time of such occupancy, had performed for all of its obligations hereunder with respect to such part and that such part, except for latent defects and except for minor details of construction, decoration and mechanical adjustment referred to above, was costs incurred in satisfactory condition as of the date of such occupancy, unless within 10 days after such date the Tenant shall give notice to the Landlord specifying the respects in which the same was not in such conditionconnection therewith promptly upon demand.

Completion and Occupancy. The Tenant has examined and shall accept the premises in their existing condition and state of repair and understands that no work is to be performed by the Landlord in connection therewith except such work, if any, as the Landlord may be required to do by the terms hereof in the layout or finish of the premises. If the Landlord shall be required by the terms hereof to do any work in the layout or finish of the premises, the Landlord, either through its own employees or through a contractor or contractors to be engaged by it for such purpose, will proceed with due dispatch, subject to delay by causes beyond its reasonable control and to the vacating and surrendering of the premises by any present occupant thereof, to do all of such work during regular working hours and will exercise all reasonable efforts to complete all of such work not later than the specific date hereinabove designated for the commencement of the term hereof. If the Landlord is required by the terms hereof to do any such work without expense to the Tenant and the cost of such work is increased due to any delay resulting from any act or omission of the Tenant, its agents or employees, the Tenant shall pay to the Landlord an amount equal to such increase in cost. Unless otherwise specifically provided herein, if the premises shall not be available for occupancy by the Tenant on the specific date hereinabove designated for the commencement of the term hereof for any reason, including noncompletion by the Landlord of such work as it shall be required by the terms hereof to do in connection with the layout or finish of the premises, then this Lease shall not be affected thereby but, in such such; case, said specific date shall be deemed to be postponed until the date when the premises shall be available for occupancy by the Tenant, provided, however, that there shall be no such postponement of said specific date for any period of delay in the availability of the premises for occupancy by the Tenant which shall be due to (a) any act or omission of the Tenant, its agents or employees, including, without limitation, delays due to changes in or additions to any work to be done by the Landlord as aforesaid or delays in submission of information, approving working drawings or estimates or giving authorizations or approvals, (b) any additional time for completion of such work which may be required because of the inclusion in such work of any work which may hereinafter be defined as "Special Work", or (c) the noncompletion by the Landlord of any work, whether in connection with the layout or finish of the premises or otherwise, which the Landlord is not required to do by the terms hereof until after the term commencement date, it being understood that the Tenant shall have no claim against the Landlord, and the Landlord shall have no liability to the Tenant, by reason of any such postponement of said specific date. No part of the premises shall be deemed unavailable for occupancy by the Tenant, nor shall any work which the Landlord is obligated to perform in such part of the premises be deemed incomplete for the purpose of any adjustment of fixed rent payable hereunder, solely due to the noncompletion of details of construction, decoration or mechanical adjustments which are minor in character and the noncompletion of which does not materially interfere with the Tenant's use of such part of the premises. Pursuant to Section 223-a of the Real Property Law of the State of New York and notwithstanding any other law of like import now or hereafter in force, the parties hereto expressly provide that, if the premises are not available for occupancy by the Tenant on the term commencement date due to any cause of the nature referred to in the preceding clause (a), (b) or (c) of this paragraph, the Tenant, except with the consent of the Landlord, shall not be entitled to possession of the premises until the same are available for occupancy by the Tenant and there shall be no abatement of fixed rent by reason thereof and the Tenant shall not have any claim against the Landlord nor any right to rescind this Lease, and the Landlord shall have no liability to the Tenant, by reason thereof. The Tenant by entering into occupancy of any part of the premises shall be conclusively deemed to have agreed that the Landlord, up to the time of such occupancy, had performed all of its obligations hereunder with respect to such part and that such part, except for latent defects and except for minor details of construction, decoration and mechanical adjustment referred to above, was in satisfactory condition as of the date of such occupancy, unless within 10 days after such date the Tenant shall give notice to the Landlord specifying the respects in which the same was not in such condition.

Completion and Occupancy. The Tenant has examined and shall accept the premises in their existing condition and state of repair and understands that no work is to be performed by the Landlord in connection therewith except such work, if any, as the Landlord may be required to do by the terms hereof in the layout or finish of the premises. If the Landlord shall be required by the terms hereof to do any work in the layout or finish of the premises, the Landlord, either through its own employees or through a contractor or contractors to be engaged by it for such purpose, will proceed with due dispatch, subject to delay by causes beyond its reasonable control and to the vacating and surrendering of the premises by any present occupant thereof, to do all of such work during regular working hours and will exercise all reasonable efforts to complete all of such work not later than the specific date hereinabove designated for the commencement of the term hereof. If the Landlord is required by the terms hereof to do any such work without expense to the Tenant and the cost of such work is increased due to any delay resulting from any act or omission of the Tenant, its agents or employees, the Tenant shall pay to the Landlord an amount equal to such increase in cost. Unless otherwise specifically provided herein, if the premises shall not be available for occupancy by the Tenant on the specific date hereinabove designated for the commencement of the term hereof for any reason, including noncompletion by the Landlord of such work as it shall be required by the terms hereof to do in connection with the layout or finish of the premises, then this Lease shall not be affected thereby but, in such case, said specific date shall be deemed to be postponed until the date when the premises shall be available for occupancy by the Tenant, provided, however, that there shall be no such postponement of said specific date for any period of delay in the availability of the premises for occupancy by the Tenant which shall be due to (a) any act or omission of the Tenant, its agents or employees, including, without limitation, delays due to changes in or additions to any work to be done by the Landlord as aforesaid or delays in submission of information, approving working drawings or estimates or giving authorizations or approvals, (b) any additional time for completion of such work which may be required because of the inclusion in such work of any work work, which may hereinafter be defined as "“Special Work", ,” or (c) the noncompletion by the Landlord of any work, whether in connection with the layout or finish of the premises or otherwise, which the Landlord is not required to do by the terms hereof until after the term commencement date, it being understood that the Tenant shall have no claim against the Landlord, and the Landlord shall have no liability to the Tenant, by reason of any such postponement of said specific date. No part of the premises shall be deemed unavailable for occupancy by the Tenant, nor shall any work which the Landlord is obligated to perform in such part of the premises be deemed incomplete for the purpose of any adjustment of fixed rent payable hereunder, solely due to the noncompletion of details of construction, decoration or mechanical adjustments which are minor in character and the noncompletion of which does not materially interfere with the Tenant's ’s use of such part of the premises. Pursuant to Section 223-a of the Real Property Law of the State of New York and notwithstanding any other law of like import now or hereafter in force, the parties hereto expressly provide that, if the premises are not available for occupancy by the Tenant on the term commencement date due to any cause of the nature referred to in the preceding clause (a), (b) or (c) of this paragraph, the Tenant, except with the consent of the Landlord, shall not be entitled to possession of the premises until the same are available for occupancy by the Tenant and there shall be no abatement of fixed rent by reason thereof and the Tenant shall not have any claim against the Landlord nor any right to rescind this Lease, and the Landlord shall have no liability to the Tenant, by reason thereof. The Tenant by entering into occupancy of any part of the premises shall be conclusively deemed to have agreed that the Landlord, Landlord up to the time of such occupancy, occupancy had performed all of its obligations hereunder with respect to such part and that such part, except for latent defects and except for minor details of construction, decoration and mechanical adjustment referred to above, was in satisfactory condition as of the date of such occupancy, unless within 10 days after such date the Tenant shall give notice to the Landlord specifying the respects in which the same was not in such condition.