Construction of Additional Improvements Clause Samples
The 'Construction of Additional Improvements' clause defines the terms and conditions under which new structures or enhancements may be built on a property after the initial development. Typically, this clause outlines the approval process required from relevant parties, such as landlords or local authorities, and may specify standards or restrictions regarding the type, size, and location of any new improvements. Its core practical function is to ensure that any additional construction aligns with the interests of all stakeholders and complies with existing agreements, thereby preventing unauthorized or undesirable modifications to the property.
Construction of Additional Improvements. (i) Subject to delays resulting from Force Majeure Matters and/or Tenant Delays, Landlord shall Substantially Complete the following additional improvements within the Park by the applicable completion dates set forth herein: (i) the refurbishment of the two buildings located immediately adjacent to the Building (the “Grid Buildings”), as identified on Exhibit D attached hereto, and construction of the Café (as defined in Section 16.23) in the location shown on Exhibit D attached hereto (collectively, the “Phase II Improvements”) not later than April 30, 2021 (the “Phase II Completion Date”), (ii) the construction of the Fitness Center (as defined in Section 16.23) in the location identified on Exhibit D attached hereto and generally consistent with the depictions of same on Exhibit J attached hereto not later than June 30, 2021 (the “Fitness Center Completion Date”), and (iii) the refurbishment of the two buildings located next to the Grid Buildings (the “Edge Buildings”), as identified on Exhibit D attached hereto (the “Phase III Improvements”) not later than September 1, 2021 (the “Phase III Completion Date”). If Landlord for any reason other than Force Majeure Matters and/or Tenant Delays is unable to Substantially Complete any of the aforementioned additional improvements (each, an “Additional Improvement”) by the applicable completion date (each, a “Completion Date”), this Lease shall not be void or voidable nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom; but in that event, Landlord shall act diligently and in good faith to complete the work that is necessary for Landlord to Substantially Complete such improvements. In such event, the following terms shall apply:
(1) In the event Substantial Completion of an Additional Improvement does not occur by the date that is sixty (60) days following the applicable Completion Date for such Additional Improvement, Tenant shall receive a credit against the Monthly Rental Installments due hereunder equal to one (1) day of Minimum Annual Rent and Additional Rent with respect to the Leased Premises for every three (3) days that elapse between the end of such sixty (60) day period until Substantial Completion of the applicable Additional Improvement occurs (each, an “Additional Improvement Credit”), which credit(s) shall be applied to the Monthly Rental Installment(s) first becoming payable hereunder.
(2) In the event Substantial Completion of an Additional Improvement does not occ...
Construction of Additional Improvements. (a) Tenant shall be responsible for constructing certain additional interior improvements within the Demised Premises (the "Additional Improvements"). Within thirty (30) days after the date hereof, Tenant shall, at its sole cost and expense, prepare and submit to Landlord for Landlord's written approval of disapproval (which approval will not be unreasonably withheld or conditioned) a complete set of plans and specifications and construction drawings (collectively, the "Plans and Specifications") covering all work to be performed by Tenant in constructing the Additional Improvements. The Plans and Specifications shall be in such detail as Landlord may reasonably require and shall be in compliance with all applicable statutes, ordinances and regulations. Landlord shall review the Plans and Specifications and indicate requested changes, if any, by written notice to Tenant, within ten (10) days after receipt of the Plans and Specifications by Landlord. If Landlord fails to indicate such requested changes to the Plans and Specifications by such date, the Plans and Specifications shall be deemed approved. Thereafter, any changes to the Plans and Specifications shall be subject to Landlord's written approval.
(b) Tenant or its contractor shall construct the Additional Improvements in a good, first-class and workmanlike manner and in accordance with the Plans and Specifications. Tenant shall carry, or cause its contractor to carry, insurance reasonably satisfactory to Landlord throughout the construction of the Additional Improvements.
(c) Upon substantial completion of the Additional Improvements, a representative of Landlord and a representative of Tenant together shall inspect the Demised Premises and generate a punchlist of defective or uncompleted items relating to the completion of construction of the Additional Improvements. Tenant shall, within a reasonable time after such punchlist is prepared and agreed upon by Landlord and Tenant, complete such incomplete work and remedy such defective work as are set forth on the punchlist.
(d) Landlord shall reimburse Tenant for Tenant's costs (as defined in subsection (e) below) incurred in constructing the Additional Improvements, up to Sixty Thousand and No/100 Dollars ($60,000.00) (the "Tenant Allowance") as follows:
(1) Landlord shall pay fifty percent (50%) of the Tenant Allowance to Tenant at such time as:
(i) Tenant has delivered to Landlord copies of Tenant's building permit;
(ii) Tenant has received Landlor...
Construction of Additional Improvements. Borrower shall diligently and without delay pursue construction of the Additional Improvements in a workmanlike manner in accordance with any plans and specifications therefor, and in accordance with all Requirements of Law, building restrictions, recorded covenants and restrictions, and requirements of all Governmental Authorities having jurisdiction over the Property. Borrower shall, upon Administrative Agent’s request, execute and deliver to Administrative Agent a copy of any plans and specifications for any Additional Improvements and an assignment of Borrower’s rights under any Construction Agreement to Administrative Agent, for the benefit of Lenders as security for Borrower’s obligations under this Agreement and the other Loan Documents, and with respect to any Construction Agreement providing for payments in excess of $1,000,000 in the aggregate, shall cause the Contractor to consent to any such assignment. Borrower shall be solely responsible for all aspects of Borrower’s business and conduct in connection with the Property, including, without limitation, for the quality and suitability of any such plans and specifications and their compliance with all Requirements of Law, the supervision of the work of construction, the qualifications, financial condition and performance of all architects, engineers, contractors, material suppliers, consultants and property managers, and the accuracy of all applications for payment and the proper application of all disbursements. Neither Administrative Agent nor any Lender is obligated to supervise, inspect or inform Borrower or any third party of any aspect of the construction of the Additional Improvements or any other matter referred to above.
Construction of Additional Improvements. Except as expressly authorized herein, Tenant shall make no additions, alterations, changes, fixtures, or other improvements to the Premises (“Improvements”) without the express written consent of the Town. Tenant, at its own expense, shall keep and maintain the Premises and Improvements neat and orderly at all times and shall perform all repairs to the same to keep them in proper condition. All Improvements on the Premises shall be the property of Tenant during the full term of this Lease provided however that at the termination of this Lease, the Town shall have the right to determine if the improve- ments shall be removed by the Tenant or in the alternative that the Town shall become the owner of said improvements, without cost to the Town.
Construction of Additional Improvements. The YMCA may install upon th e Leased Property any additions, improvements, personal property, equipment or fixtures which in the YMCA’s judgment are necessary or desirable for the conduct of activi ties ▇▇▇▇ ied on by the YMCA at the Leased Property. Any such additions, improvements, personal property, equipment or fixtures which are installed with funds other than the proceeds of the Contr act and which do not con stitute a par t of the Leased Property under the terms of this Lease Agreement shall be and remain the property of the YMCA and may be removed by the YMCA at any time while an Event of Default does not exist hereunder; provided, that any damage to the Leased Property occasioned by such removal shall be repaired by the YMCA at its own expense. If any additions, improvements, personal property or fixtures described in this Section 4.5 are leased by the YMCA or the YMCA shall have granted a security interest in such property in connection with the acquisition thereof by the YMCA, then the lessor of such property or the party holding a security interest therein, as the case may be, may r emove such prop erty fr om the Leased Pr operty even t ▇▇▇▇▇ an Event of Default shall then exist or this Lease Agreement shall have been terminated following an Event of Default hereunder; provided, that the foregoing permission to remove such proper ty shall be subj ect to the agreement by such lessor or secured party to repair at its own expense any damage to the Leased Property occasioned by such removal.
Construction of Additional Improvements. The Developer agrees that any Additional Improvements constructed by Developer on the Development Property will be constructed on the Development Property in conformance with the Construction Plans submitted to, and approved by, the City. The Developer agrees that the scope and scale of the Additional Improvements to be constructed shall not be significantly less than the scope and scale thereof as detailed and outlined in the Construction Plans, as so approved, the construction of which is anticipated to require a total investment of not less than $40,212,000 if all Additional Improvements are completed.
Construction of Additional Improvements. (a) Commence construction of the Additional Improvements on or before the Commencement Date, (b) diligently proceed with construction of the Additional Improvements according to the Plans and Specifications and in accordance with all applicable laws and ordinances, (c) cause the Additional Improvements to be completed by the Completion Date, (d) require each Contractor to comply with all rules, regulations, ordinances and laws bearing on its conduct of work on the Project.
Construction of Additional Improvements. 11 ARTICLE VI Condition and Maintenance of Premises.......................................13 ARTICLE VII Alterations and New Construction............................................17 ARTICLE VIII Insurance...................................................................18
Construction of Additional Improvements. Landlord shall, at Landlord's cost and expense, construct the additional improvements (the "Additional Improvements") to the Leased Premises pursuant to the final plans and specifications (the "Plans") prepared by Architectural Alliance ( the "Architect"), which Plans are summarized (the "Summary") on Exhibit C attached hereto and incorporated herein by reference. Landlord shall, within three (3) weeks from the date hereof, cause the Plans for the Additional Improvements to be completed, conforming in all material respects to the Summary. Thereupon, Exhibit C shall be amended to replace the Summary with the Plans. The Additional Improvements, when constructed, will comply all Laws, as such term as defined below, applicable to the Leased Premises, including the ADA, as defined below.
Construction of Additional Improvements. Lessor hereby notifies Lessee that Lessor intends to construct a building and related improvements on the parcel adjacent to the Building and that such construction will cause increased noise levels, dust and other possible nuisances which may affect occupants of the Building, including Lessee. Lessee hereby waives all claims for any injury to Lessee's business or loss of income therefrom, or for damage that may be sustained by the person or property of Lessee, its employees, invitees, customers, agents, or contractors, caused by or resulting from such construction.