Common use of Completion/Punch-List Clause in Contracts

Completion/Punch-List. When the Landlord is of the opinion that the Landlord's Work is complete, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord a written statement that the Landlord's Work have been completed and are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List"). The Tenant agrees that at the request of the Landlord from time to time thereafter, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Landlord shall promptly complete all such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by reference.

Completion/Punch-List. When the Subject to extensions resulting from Tenant Delays and/or Force Majeure Events, Landlord is of the opinion that the Landlord's Work is complete, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notification, will use its commercially reasonable efforts to cause the Tenant promptly Improvement Work to be substantially completed on or before the date that is one hundred twenty (and not later than two (2120) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord a written statement that the Landlord's Work have been completed and are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items Plan Approval Date (hereinafter referred to as the "Punch List“Scheduled Completion Date"). The Tenant agrees that at the request of the Landlord from time to time thereafter, the Tenant Improvement Work will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Landlord shall promptly complete all such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete completed and the Date “Completion Date” will occur at such time as: (y) Landlord notifies Tenant that the Tenant Improvement Work has been substantially completed in accordance with the Final Tenant Improvement Plans, subject only to the Punch List Items (as defined below), which will not materially impair Tenant’s intended use of Substantial the Premises; and (z) the City of Scottsdale has issued a temporary Certificate of Occupancy, Certificate of Completion or the reasonable equivalent, which will enable Tenant to occupy and conduct its intended use in the Premises. If Landlord obtains a temporary Certificate of Occupancy as provided in the clause (z), above, Landlord shall nonetheless diligently pursue to completion obtaining a permanent Certificate of Occupancy. Landlord shall give Tenant at least fifteen (15) days prior written notice of the anticipated Scheduled Completion Date. Landlord and Tenant will schedule and conduct an inspection of the Tenant Improvement Work no less than five (5) Business Days prior to Landlord’s substantial completion. After the inspection, Tenant and Landlord shall mutually agree upon the items that Landlord is required to correct to Tenant’s reasonable satisfaction (“Punch List Items”). The inspection shall be scheduled for a Business Day at a time mutually acceptable to Tenant and Landlord. Landlord shall complete the Punch List Items within thirty (30) days following the inspection. If the Tenant Improvement Work is not deemed to be substantially completed on or before the Scheduled Completion Date, Landlord agrees to use commercially reasonable efforts to complete all remaining Tenant Improvement Work within 60 days and, during this 60-day grace period (“Grace Period”), the Lease will remain in full force and effect, Landlord will not be deemed to have occurred upon the issuance of a certificate of occupancy be in breach or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date default of the Lease, so that said date is certain and such instrumentLandlord will have no liability to Tenant as a result of any delay except that, when executedsubject to Tenant Delays and Force Majeure Events, is hereby made part Tenant shall receive an abatement of this Lease and incorporated herein by referenceMonthly Base Rent in an amount equal to one (1) day of Monthly Base Rent for each one (1) day delay for completion beyond the Grace Period.

Completion/Punch-List. When the Landlord is of the opinion that the Landlord's Work is complete, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord a written statement that the Landlord's Work have has been completed and are is complete as required by the provisions of this EXHIBIT 4 B, this Amendment and the Lease with the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List"). The Tenant agrees that at the request of the Landlord from time to time thereafter, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Landlord shall promptly complete all such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by reference.the

Completion/Punch-List. When The Premises shall not be considered substantially complete until the Landlord is Tenant Improvements have been completed in accordance with the Tenant Improvement Plans subject only to the completion of minor punch-list items that will not, in any material way, interfere with Tenant’s use and occupancy of the opinion that Premises for Tenant’s permitted use under the Landlord's Work is completeLease. Upon substantial completion of the Tenant Improvements, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notificationin writing and, the Tenant promptly within ten (and not later than two (210) business days after the date of Landlord's said Tenant’s receipt of such notice) will inspect , Landlord and Tenant shall conduct a “walk through” inspection of the Premises and furnish prepare a punch-list of known or apparent deficiencies or incomplete work required to be corrected or completed by Landlord pursuant to the Tenant Improvement Plans. Landlord a shall cause all punch-list items to be repaired or completed at no cost to Tenant, as soon as possible, but in no event later than thirty (30) days following the walk through inspection. If Landlord fails to complete any of the punch-list items within such 30-day period, then Tenant, after giving ten (10) business days written statement that notice to Landlord, shall have the Landlord's Work have been right, but not the obligation, to cause such unfinished punch-list items to be completed and are complete as required by the provisions of this EXHIBIT 4 and the Lease Landlord shall reimburse Tenant’s reasonable costs associated with the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List")such items. The Tenant agrees that at the request of the Landlord from time to time thereafter, Latent or hidden defects in the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work Improvements shall be deemed complete brought to Landlord’s attention promptly upon Tenant’s becoming aware of such defects. Landlord, at Landlord’s sole cost and expense, shall promptly cause such defects to be repaired following receipt of notice thereof, to the extent the same are covered by construction warranty, and Tenant shall be deemed to have accepted possession of the Premises, provided, Landlord shall promptly complete same rights with respect thereto as set forth herein for all such Punch List other punch-list items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by reference.

Completion/Punch-List. When The Leased Premises shall not be considered substantially complete until the Landlord is Tenant Improvements have been completed in accordance with the Tenant Improvement Plans subject only to the completion of minor punch-list items that will not interfere with Tenant's use and occupancy of the opinion that Premises for the Landlordnormal conduct of Tenant's Work is completebusiness. Upon substantial completion of the Tenant Improvements, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notificationin writing and, the Tenant promptly within ten (and not later than two (210) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord a written statement that the Landlord's Work have been completed and are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List"). The Tenant agrees that at the request of the Landlord from time to time thereafter, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy receipt of the Premisessuch notice, then, in such event, the Landlord's Work shall be deemed complete Landlord and Tenant shall be deemed to have accepted possession conduct a "walk through" inspection of the PremisesLeased Premises and prepare a punch-list of known or apparent deficiencies or incomplete work required to be corrected or completed by Landlord pursuant to the Tenant Improvement Plans. Landlord, providedat Landlord's sole cost and expense, shall cause all punch-list items to be repaired or completed as soon as possible, but in no event later than thirty (30) days following the walk through inspection, unless and to the extent delays are unavoidable due to materials ordering periods. Latent or hidden defects in the Tenant Improvements shall be brought to Landlord's attention promptly upon Tenant's becoming aware of such defects. Landlord, at Landlord's sole cost and expense, shall promptly cause such defects to be repaired following receipt of notice thereof and Tenant shall have the same rights with respect thereto as set forth herein for all other punch-list items. Immediately prior to the delivery of the Leased Premises to Tenant, Landlord shall promptly complete remove all such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on rubbish and debris therefrom and thoroughly clean the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion DateLeased Premises." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by reference.

Completion/Punch-List. When Landlord’s architect considers the Work to be substantially complete or about to be substantially completed, Landlord is shall notify Tenant as to the date or anticipated date of substantial completion and of a time and date for inspection of the opinion Work. If such time and date are not acceptable to Tenant, Landlord and Tenant shall mutually agree upon another time and date, provided that Tenant shall not unreasonably delay such inspection. Landlord and Tenant agree to inspect the Expansion Premises at such time and on such date and to execute at the time of such inspection Landlord's ’s form of inspection report which shall be prepared by Landlord’s architect and shall list items designated by said architect as not yet completed and any additional items which Landlord and Tenant acting reasonably and in good faith agree upon during such inspection are not yet completed, none of which shall materially interfere with Tenant’s ability to use and occupy the Expansion Premises for their intended purpose (said list is hereafter referred to as a “Punch List”). If the Work is completesubstantially completed in accordance with the Plans, then subject only to the Landlord shall so notify completion of the Tenant. The Punch List, Tenant agrees that upon to also execute at the time of such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord inspection a written statement that the Landlord's Work Expansion Premises have been substantially completed in accordance with this Agreement subject only to the items listed on the Punch List. If items remaining to be completed which would materially interfere with Tenant’s use and occupancy of the Expansion Premises for their intended use, Tenant, acting in a commercially reasonable manner, shall not execute the inspection report until the items which would materially interfere with Tenant’s use and occupancy of the Expansion Premises for their intended use have been completed and are complete as required by at which time Tenant will execute a written statement that the provisions of Premises have been substantially completed in accordance with this EXHIBIT 4 and Agreement subject only to the Lease with items listed on the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List"). The Tenant agrees that that, at the request of the Landlord from time to time thereafterafter the initial inspection, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Landlord shall promptly complete all initial such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by reference.Punch

Completion/Punch-List. (a) When Landlord's construction manager considers the Work to be substantially complete or about to be substantially completed, Landlord is shall notify Tenant as to the date or anticipated date of substantial completion and of a reasonable time and date for inspection of the opinion Work. If such time and date for inspection are not reasonably acceptable to Tenant, Landlord and Tenant shall mutually agree upon another time and date, provided that the Landlord's Work is complete, then the Landlord Tenant shall so notify the Tenantnot unreasonably delay such inspection. The Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will to inspect the Premises at such time and furnish on such date and to execute at the Landlord a written statement that the time of such inspection Landlord's Work have been form of inspection report which shall be prepared by Landlord's architect and shall list items designated by said architect as not yet completed and any additional items which Landlord and Tenant, in good faith, agree are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items not yet completed (said list is hereinafter referred to as the a "Punch List"). The If Tenant agrees that at does not appear for inspection on the request of the Landlord from time to time thereafterdate designated or agreed upon, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Premises as substantially completed and Landlord shall promptly complete all or its representative may execute such Punch List on behalf of both Landlord and Tenant. In the event of any dispute as to whether or not Landlord has substantially completed the Work, the decision of Landlord's architect shall be final and binding on the parties. Tenant agrees that, at the request of Landlord from time to time after the initial inspection, Tenant shall initial such Punch List or execute revised Punch Lists to reflect completion or partial completion of prior Punch List items. (b) At any time after substantial completion of the Work, Landlord may enter the Premises to complete Punch List items, and such entry by Landlord or its agents, employees or contractors for such purpose shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement or diminution of rent, or relieve Tenant from any of its obligations under the Lease, or impose any other liability upon Landlord or its agents, employees or contractors. (c) Notwithstanding any provisions to the contrary contained in this Workletter, if the Premises or any part thereof are used or occupied for construction, installation of equipment or personal property or for any other purpose by the Tenant or Tenant's agents, contractors or employees prior to substantial completion, it is agreed that the Work affecting said Premises shall then be deemed accepted by Tenant "as is" and Landlord shall have no obligation to complete any incomplete items; provided, however, that in at the request of either party hereunder, Landlord and Tenant, acting reasonably, shall prepare a Punch List prior to such occupancy showing incomplete items to be completed by Landlord. Notwithstanding the foregoing, no event such use or occupancy prior to substantial completion shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the permitted without Landlord's Work is completeconsent, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The in Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by referencesole discretion.

Completion/Punch-List. (a) When Landlord's architect considers the Work to be substantially complete or about to be substantially completed, Landlord is shall notify Tenant as to the date or anticipated date of substantial completion and of a reasonable time and date for inspection of the opinion Work. If such time and date for inspection are not reasonably acceptable to Tenant, Landlord and Tenant shall mutually agree upon another time and date, provided that the Landlord's Work is complete, then the Landlord Tenant shall so notify the Tenantnot unreasonably delay such inspection. The Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will to inspect the Premises at such time and furnish on such date and to execute at the Landlord a written statement that the time of such inspection Landlord's Work have been form of inspection report which shall be prepared by Landlord's architect and shall list items designated by said architect as not yet completed and any additional items which Landlord and Tenant, in good faith, agree are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items not yet completed (said list is hereinafter referred to as the a "Punch List"). The If Tenant agrees that at does not appear for inspection on the request of the Landlord from time to time thereafterdate designated or agreed upon, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Premises as substantially completed and Landlord shall promptly complete all or its representative may execute such Punch List on behalf of both Landlord and Tenant. In the event of any dispute as to whether or not Landlord has substantially completed the Work, the decision of Landlord's architect shall be final and binding on the parties. Tenant agrees that, at the request of Landlord from time to time after the initial inspection, Tenant shall initial such Punch List or execute revised Punch Lists to reflect completion or partial completion of prior Punch List items. (b) At any time after substantial completion of the Work, Landlord may enter the Premises to complete Punch List items, and such entry by Landlord or its agents, employees or contractors for such purpose shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement or diminution of rent, or relieve Tenant from any of its obligations under the Lease, or impose any other liability upon Landlord or its agents, employees or contractors. (c) Notwithstanding any provisions to the contrary contained in this Workletter, if the Premises or any part thereof are used or occupied for construction, installation of equipment or personal property or for any other purpose by the Tenant or Tenant's agents, contractors or employees prior to substantial completion, it is agreed that the Work affecting said Premises shall then be deemed accepted by Tenant "as is" and Landlord shall have no obligation to complete any incomplete items; provided, however, that at the request of either party hereunder, Landlord and Tenant, acting reasonably, shall prepare a Punch List prior to such occupancy showing incomplete items to be completed by Landlord. Notwithstanding the foregoing, no such use or occupancy prior to substantial completion shall be permitted without Landlord's consent, in no event Landlord's sole discretion. (d) The phrases “substantial completion” or “substantially complete” shall Landlord be obligated to repair latent defects, mean that the Work has been completed (except for such incomplete items as would not originally listed on materially interfere with the Punch List, beyond a period use of six (6the Premises for its intended uses as described in the Lease) months after and final inspection approvals have been granted by the Completion Datelocal governing authority. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and on the Date of Substantial Completion will date on which the Work would have been substantially complete but for Tenant Delay or Force Majeure Delay or on such earlier date as the Work shall be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by referencebe substantially complete pursuant to Paragraph 5(c) above.

Completion/Punch-List. (a) When Landlord's construction manager, in its reasonable discretion, considers the Work to be substantially complete or about to be substantially completed and has obtained a certificate of occupancy, Landlord is shall notify Tenant as to the date or anticipated date of substantial completion and its receipt of a certificate of occupancy and of a reasonable time and date for inspection of the opinion Work. If such time and date for inspection are not reasonably acceptable to Tenant, Landlord and Tenant shall mutually agree upon another time and date, provided that the Landlord's Work is complete, then the Tenant and Landlord shall so notify the Tenantnot unreasonably delay such inspection. The Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will to inspect the Premises at such time and furnish on such date and to execute at the Landlord a written statement that the time of such inspection Landlord's Work have been form of inspection report which shall be prepared by Landlord's construction manager and shall list items designated by said construction manager as not yet completed and any additional items which Landlord and Tenant, in good faith, agree are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items not yet completed (said list is hereinafter referred to as the a "Punch List"). The If Tenant agrees that at does not appear for inspection on the request of the Landlord from time to time thereafterdate designated or agreed upon, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession the Premises as substantially completed and Landlord or its representative may execute such Punch List on behalf of both Landlord and Tenant. Tenant agrees that, at the Premisesrequest of Landlord from time to time after the initial inspection, provided, Tenant shall initial such Punch List or execute revised Punch Lists to reflect completion or partial completion of prior Punch List items. Landlord shall promptly agrees to complete all such Punch List items; provideditems as soon as practicable, howeversubject to Force Majeure, that but in no event shall Landlord be obligated to repair latent defects, not originally listed on later than sixty (60) days from creation of the Punch List. (b) At any time after substantial completion of the Work and receipt of a certificate of occupancy, beyond a period Landlord may, upon notice to Tenant, enter the Premises to complete Punch List items, and such entry by Landlord or its agents, employees or contractors for such purpose shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement or diminution of six rent, or relieve Tenant from any of its obligations under the Lease, or impose any other liability upon Landlord or its agents, employees or contractors provided Landlord shall attempt to minimize any interruption to Tenant’s business, if applicable. (6c) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the phrases "Date of Substantial Completionsubstantial completion" or "Substantial Completion Date.substantially complete" shall mean that the Work has been completed except for such incomplete items as would not materially interfere with the use of the Premises for its intended uses, as described in the Lease (but excluding items not included in the Work which are required for use of the Premises for such purposes). The Landlord's Work shall be deemed to be substantially complete and on the Date of Substantial Completion will be deemed to date on which the Work would have occurred upon the issuance of been substantially complete but for Tenant Delay, provided a certificate of occupancy or other similar license, permit, or authorization. Promptly after has been issued for the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by referencePremises.

Completion/Punch-List. When Landlord’s architect considers the Work to be substantially complete or about to be substantially completed, Landlord is shall notify Tenant as to the date or anticipated date of substantial completion and of a time and date for inspection of the opinion Work. If such time and date are not acceptable to Tenant, Landlord and Tenant shall mutually agree upon another time and date, provided that the Landlord's Work is complete, then the Tenant shall not unreasonably delay such inspection. Landlord shall so notify the Tenant. The and Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will agree to inspect the Premises at such time and furnish on such date and to execute at the time of such inspection Landlord’s form of inspection report which shall be prepared by Landlord’s architect and shall list items designated by said architect as not yet completed and any additional items which Landlord and Tenant acting reasonably and in good faith agree upon during such inspection are not yet completed, none of which shall materially interfere with Tenant’s ability to use and occupy the Premises for their intended purpose (said list is hereafter referred to as a “Punch List”). If the Work is substantially completed in accordance with the Plans, subject only to the Landlord completion of the Punch List, Tenant agrees to also execute at the time of such inspection a written statement that the Landlord's Work Premises have been substantially completed in accordance with this Agreement subject only to the items listed on the Punch List. If items remaining to be completed which would materially interfere with Tenant’s use and occupancy of the Premises for their intended use, Tenant, acting in a commercially reasonable manner, shall not execute the inspection report until the items which would materially interfere with Tenant’s use and occupancy of the Premises for their intended use have been completed and are complete as required by at which time Tenant will execute a written statement that the provisions of Premises have been substantially completed in accordance with this EXHIBIT 4 and Agreement subject only to the Lease with items listed on the exception of certain specified and enumerated items (hereinafter referred to as the "Punch List")list. The Tenant agrees that that, at the request of the Landlord from time to time thereafterafter the initial inspection, Tenant shall initial such Punch List or execute revised Punch Lists to reflect partial completion of prior Punch List items, to the Tenant will indicate in writing to Landlord whether any prior extent such Punch List items have been completedcompleted to Tenant’s reasonable satisfaction. If Tenant’s acknowledgment in writing that the Premises are substantially complete and acceptance of possession of the Premises shall not relieve Landlord of its obligations to promptly complete all Punch List items. Landlord shall utilize its good faith efforts to complete all Punch List items within thirty (30) days of the Completion Date or such longer period of time as is reasonably required due to the nature of the Punch List consists only items. Landlord shall also promptly obtain a certificate of items which would not materially impair occupancy. To the Tenant's use or occupancy extent that Landlord tenders possession of portions of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Premises to Tenant shall be deemed as contemplated by Section 2.1(B) prior to have accepted possession of the Premises, provided, Landlord shall promptly complete all such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred Section 4 shall apply with respect to as any portion of the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work Premises so tendered to Tenant and a Punch List shall be deemed prepared with respect to be substantially complete and the Date of Substantial Completion will be deemed to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date that portion of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by referencePremises.

Completion/Punch-List. (a) When the Landlord is of the opinion or its architect considers that the Landlord's Work is complete, then the Landlord shall so notify the Tenant. The Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will inspect the Premises and furnish to the Landlord a written statement that the Landlord's Work Improvements have been completed and Substantially Completed or are complete as required by about to be Substantially Completed in accordance with the provisions of this EXHIBIT 4 subparagraph (d) below, Landlord shall notify Tenant as to the date or anticipated date of Substantial Completion and of a reasonable time and date for inspection of the Lease with Tenant Improvements. If such time and date for inspection are not reasonably acceptable to Tenant, Landlord and Tenant shall mutually agree upon another time and date, provided that Tenant shall not unreasonably delay such inspection. Tenant agrees to inspect the exception Demised Premises at such time and on such date and to execute at the time of certain specified such inspection Landlord's form of inspection report which shall be prepared by Landlord's architect and enumerated shall list items designated by said architect as not yet completed and any additional items which Landlord and Tenant, in good faith, agree are not yet completed (said list is hereinafter referred to as the a "Punch List"). The If Tenant agrees that at does not appear for inspection on the request of the Landlord from time to time thereafterdate designated or agreed upon, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Demised Premises as Substantially Completed and Landlord shall promptly complete all or its representative may execute such Punch List on behalf of both Landlord and Tenant. In the event of any dispute as to whether or not Landlord has Substantially Completed the Tenant Improvements, the decision of Landlord's architect, made in accordance with the provisions of subparagraph (d) below, shall be final and binding on the parties. Tenant agrees that, at the request of Landlord from time to time after the initial inspection, Tenant shall initial such Punch List or execute revised Punch Lists to reflect completion or partial completion of prior Punch List items. (b) At any time after Substantial Completion of the Tenant Improvements, Landlord may enter the Demised Premises to complete Punch List items, and such entry by Landlord or its agents, employees or contractors for such purpose shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement or diminution of rent, or relieve Tenant from any of its obligations under the Lease, or impose any other liability upon Landlord or its agents, employees or contractors. (c) Except as may be otherwise expressly provided in this Lease (including, without limitation, this Workletter), if the Demised Premises or any part thereof are used or occupied by the Tenant or Tenant's agents, contractors or employees to conduct its business therein prior to Substantial Completion, it is agreed that the Tenant Improvements affecting said Demised Premises shall then be deemed accepted by Tenant "as is" and Landlord shall have no obligation to complete any incomplete items; provided, however, that at the request of either party hereunder, Landlord and Tenant, acting reasonably, shall prepare a Punch List prior to such occupancy showing incomplete items to be completed by Landlord. Notwithstanding the foregoing, no such use or occupancy prior to Substantial Completion shall be permitted without Landlord's consent, in no Landlord's sole discretion, except as may be otherwise expressly provided in Section 6 hereof. (d) The phrases "Substantial Completion", "Substantially Completed" or "Substantially Complete", as used in the Lease and/or this Exhibit (whether such terms, as used herein, are initially capitalized or not), shall mean that the Tenant Improvements have been completed (except for such incomplete items as would not materially interfere with the use of any portion of the Demised Premises for its intended uses as described in the Lease) and final inspection approvals have been granted by the local governing authority. Landlord shall use commercially reasonable efforts to obtain a temporary or final certificate of occupancy (or its reasonable equivalent) for the Demised Premises within sixty (60) days after the Commencement Date, but if Landlord fails to so obtain same within such period it further covenants in any event to obtain same as soon as is reasonably practicable under the circumstances. The Tenant Improvements shall Landlord be obligated deemed to repair latent defects, not originally listed be Substantially Complete on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to Tenant Improvements would have been Substantially Complete but for Tenant Delay or Force Majeure Delay or on such earlier date as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed Substantially Complete pursuant to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by referenceParagraph 5(c) above.

Completion/Punch-List. (a) When Landlord's architect considers the Work to be substantially complete or about to be substantially completed, Landlord is shall notify Tenant as to the date or anticipated date of substantial completion and of a reasonable time and date for inspection of the opinion Work. If such time and date for inspection are not reasonably acceptable to Tenant, Landlord and Tenant shall mutually agree upon another time and date, provided that the Landlord's Work is complete, then the Landlord Tenant shall so notify the Tenantnot unreasonably delay such inspection. The Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will to inspect the Premises at such time and furnish on such date and to execute at the Landlord a written statement that the time of such inspection Landlord's Work have been form of inspection report which shall be prepared by Landlord's architect and shall list items designated by said architect as not yet completed and any additional items which Landlord and Tenant, in good faith, agree are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items not yet completed (said list is hereinafter referred to as the a "Punch List"). The In the event of any dispute as to whether or not Landlord has substantially completed the Work, the decision of Landlord's architect shall be final and binding on the parties. Tenant agrees that that, at the request of the Landlord from time to time thereafterafter the initial inspection, the Tenant will indicate in writing shall initial such Punch List or execute revised Punch Lists to Landlord whether any reflect completion or partial completion of prior Punch List items have been completed. If items. (b) At any time upon notice to Tenant, after substantial completion of the Work, Landlord may enter the Premises to complete Punch List consists only of items. (c) The phrases "substantial completion" or "substantially complete" shall mean that the Work has been completed except for such incomplete items which as would not materially impair interfere with the Tenant's use or occupancy of the PremisesPremises for its intended uses, then, as described in such event, the Landlord's Lease (but excluding items not included in the Work shall be deemed complete and Tenant shall be deemed to have accepted possession which are required for use of the Premises, provided, Landlord shall promptly complete all Premises for such Punch List items; provided, however, that in no event shall Landlord be obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Completion Datepurposes). The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and on the Date of Substantial Completion will be deemed to date on which the Work would have occurred upon the issuance of a certificate of occupancy been substantially complete but for Tenant Delay or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by referenceForce Majeure Delay.

Completion/Punch-List. (a) When Landlord’s architect considers the Work to be Substantially Complete or about to be Substantially Completed in accordance with the provisions of subparagraph (d) below, Landlord is shall notify Tenant as to the date or anticipated date of Substantial Completion and of a reasonable time and date for inspection of the opinion Work. If such time and date for inspection are not reasonably acceptable to Tenant, Landlord and Tenant shall mutually agree upon another time and date, provided that the Landlord's Work is complete, then the Landlord Tenant shall so notify the Tenantnot unreasonably delay such inspection. The Tenant agrees that upon such notification, the Tenant promptly (and not later than two (2) business days after the date of Landlord's said notice) will to inspect the Premises at such time and furnish on such date and to execute at the Landlord a written statement that the time of such inspection Landlord's Work have been ’s form of inspection report which shall be prepared by Landlord’s architect and shall list items designated by said architect as not yet completed and any additional items which Landlord and Tenant, in good faith, agree are complete as required by the provisions of this EXHIBIT 4 and the Lease with the exception of certain specified and enumerated items not yet completed (said list is hereinafter referred to as the "a “Punch List"”). The If Tenant agrees that at does not appear for inspection on the request of the Landlord from time to time thereafterdate designated or agreed upon, the Tenant will indicate in writing to Landlord whether any prior Punch List items have been completed. If the Punch List consists only of items which would not materially impair the Tenant's use or occupancy of the Premises, then, in such event, the Landlord's Work shall be deemed complete and Tenant shall be deemed to have accepted possession of the Premises, provided, Premises as Substantially Completed and Landlord shall promptly complete all or its representative may execute such Punch List on behalf of both Landlord and Tenant. In the event of any dispute as to whether or not Landlord has Substantially Completed the Work, the decision of Landlord’s architect, made in accordance with the provisions of subparagraph (d) below, shall be final and binding on the parties. Tenant agrees that, at the request of Landlord from time to time after the initial inspection, Tenant shall initial such Punch List or execute revised Punch Lists to reflect completion or partial completion of prior Punch List items. (b) At any time after Substantial Completion of the Work, Landlord may enter the Premises to complete Punch List items, and such entry by Landlord or its agents, employees or contractors for such purpose shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement or diminution of rent, or relieve Tenant from any of its obligations under the Lease, or impose any other liability upon Landlord or its agents, employees or contractors. (c) Notwithstanding any provisions to the contrary contained in this Workletter, if the Premises or any part thereof are used or occupied for construction, installation of equipment or personal property or for any other purpose by the Tenant or Tenant’s agents, contractors or employees prior to Substantial Completion, it is agreed that the Work affecting said Premises shall then be deemed accepted by Tenant “as is” and Landlord shall have no obligation to complete any incomplete items; provided, however, that at the request of either party hereunder, Landlord and Tenant, acting reasonably, shall prepare a Punch List prior to such occupancy showing incomplete items to be completed by Landlord. Notwithstanding the foregoing, no such use or occupancy prior to Substantial Completion shall be permitted without Landlord’s consent, in no event Landlord’s sole discretion. (d) The Leasehold Improvements shall be deemed “Substantially Completed” or “Substantially Complete” when Landlord's contractor or architect certifies to Landlord and Tenant in writing that: (a) the Leasehold Improvements have been completed in accordance with the Plans, subject only to normal punchlist items; and (b) Landlord, on behalf of Tenant, has obtained a temporary certificate of occupancy from Tredyffrin Township permitting the lawful use and occupancy of the Premises for the purposes specified in this Lease; provided, however, that if Landlord is unable to obtain such certificate of occupancy (or its reasonable equivalent) by virtue of the fact that Tenant has not yet completed the installation of its Tenant’s Systems (defined hereinafter), the Leasehold Improvements shall be obligated deemed Substantially Complete upon the certification of Landlord's architect or contractor as stated in subsection (a) above, notwithstanding anything to repair latent defects, not originally listed the contrary in the foregoing. The Leasehold Improvements shall be deemed to be Substantially Complete on the Punch List, beyond a period of six (6) months after the Completion Date. The date on which the Landlord's Work is complete, pursuant to the provisions of this subsection, is sometimes referred to would have been Substantially Complete but for Tenant Delay or Force Majeure Delay or on such earlier date as the "Date of Substantial Completion" or "Substantial Completion Date." The Landlord's Work shall be deemed to be substantially complete and the Date of Substantial Completion will be deemed Substantially Complete pursuant to have occurred upon the issuance of a certificate of occupancy or other similar license, permit, or authorization. Promptly after the Substantial Completion Date, upon Landlord's request, Tenant will execute an instrument in the form attached hereto as EXHIBIT 4.1, setting forth the Commencement Date of the Lease, so that said date is certain and such instrument, when executed, is hereby made part of this Lease and incorporated herein by referenceParagraph 4(c) above.