Lab Space. (i) With respect to the Lab Space, Landlord shall have no obligation to perform any improvements to the Lab Space to prepare the same for Tenant’s occupancy, and Tenant acknowledges that Tenant has inspected the Lab Space and accepts the same in its “AS IS” condition, without any representation or warranty by Landlord, express or implied; provided, however, that Tenant assumes no responsibility in respect to latent defects in the Lab Space for a period of one (1) year after the Commencement Date, provided that Tenant notifies Landlord in writing of such defects, or for defects caused during the Term of this Lease by the negligence or misconduct of Landlord, its employees and agents. The responsibility for correcting such defects resides in Landlord. (ii) Tenant shall perform, at its sole cost and expense, all work which Tenant deems necessary or desirable to prepare the Lab Space for Tenant’s initial occupancy (collectively, the “Lessee Improvements”), which Lessee Improvements shall be subject to the prior written approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed by Landlord. All work shall be performed in a good and workmanlike manner and in accordance with all applicable laws. Prior to the commencement of any work within the Lab Space, Tenant shall submit to Landlord, for Landlord’s prior approval, which approval shall not be unreasonably withheld, conditioned or delayed, proposed plans and specifications (the “Proposed Lessee’s Plans”) for the Lessee Improvements, which Proposed Lessee’s Plans shall be prepared by a registered architect and engineer licensed to do business within the State in which the Property is located. The Proposed Lessee’s Plans shall include all information and specifications reasonably necessary for Landlord to fully review the work described therein and shall conform to all applicable laws and requirements of public authorities and insurance underwriters’ requirements. If Landlord disapproves the Proposed Lessee’s Plans, Landlord shall state specifically the reasons for such disapproval, and Tenant shall cause its architect and/or engineer to promptly make any changes in the Proposed Lessee’s Plans reasonably required by Landlord. The Proposed Lessee’s Plans, as finally approved by Landlord, are hereinafter referred to as the “Lessee’s Plans”. (iii) All subsequent changes in the Lessee’s Plans shall be subject to the approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed. If Landlord approves any change in the Lessee’s Plans, Tenant shall construct, at Tenant’s sole cost and expense, the Lessee Improvements in accordance with such change. (iv) Landlord shall have the right to inspect Tenant’s construction of the Lessee Improvements to ensure compliance with the provisions of this Section. Landlord shall be entitled to receive a construction supervision fee equal to five percent (5%) of Tenant’s Costs. (v) During the period commencing on the Lab Space Delivery Date and expiring on the day immediately preceding the Commencement Date (the “Construction Period”), all of Tenant’s obligations under this Lease with respect to the Lab Space shall apply except for Tenant’s obligation to pay the Annual Base Rent and Tenant’s Share of Operating Expenses. Without limiting the foregoing, Tenant expressly acknowledges that Tenant shall be responsible for all utilities consumed within the Lab Space during the Construction Period. (vi) All contractors utilized by Tenant for the performance of the Lessee Improvements shall be subject to the prior written approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed by Landlord. Tenant shall submit the names of the Tenant’s proposed contractors to Landlord for Landlord’s prior approval at least five (5) business days prior to the initial entry into the Building or the Lab Space by Tenant’s contractors. In addition, prior to the initial entry into the Building or the Lab Space by Tenant and by each of Tenant’s contractors, Tenant shall furnish Landlord, at Tenant’s sole cost and expense, with policies of insurance covering Landlord, the Property Manager and their respective agents and employees, with such coverages and in such amounts as Landlord may then reasonably require in order to insure Landlord, its beneficiaries or agents against loss or liability for injury or death or damage to property arising out of or related to the construction of the Lessee Improvements. Tenant agrees that Tenant and Tenant’s Contractors and their activities in the Building and Lab Space or otherwise relating to the construction of the Lessee Improvements will not [interfere with or delay the completion of the Base Building Work to be performed by Landlord and will not] interfere with any activities of Landlord and the tenants and other occupants of the Building. (vii) Following the execution of this Lease by Landlord and Tenant’s submission of the Proposed Lessee’s Plans and the estimated costs of the Lessee Improvements, provided that Tenant is not in default in the performance of any of its obligations hereunder, Landlord shall from time to time during the progress of the Lessee Improvements pay to Tenant the costs of the Lessee Improvements, in cash, within twenty (20) days after Landlord’s receipt of Tenant’s invoice(s) therefor; provided, however, that such payments shall not exceed, in the aggregate, an amount equal to the product of Eighteen Dollars ($18.00) and the total rentable square footage of the Lab Space (the “Lessor’s Maximum Tl Contribution”). In the event that the costs of the Lessee Improvements exceed the amount of the Lessor’s Maximum TI Contribution, Tenant shall be solely responsible for such excess. Following payment of the final invoice, the costs of the Lessee Improvements shall be subject to examination by Landlord, and Landlord shall have reasonable access to Tenant’s cost records relative thereto.
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Lab Space. (i) With respect to Tenant has inspected the Lab Space, is familiar with the condition thereof, and accepts the Lab Space in it "AS IS" condition, without any representation or warranty by Landlord, express or implied. Tenant acknowledges that Landlord shall have no obligation to perform any improvements to the Lab Space to prepare the same for Tenant’s occupancy, and Tenant acknowledges that Tenant has inspected the Lab Space and accepts the same in its “AS IS” condition, without any representation or warranty by Landlord, express or implied; provided, however, that Tenant assumes no responsibility in respect to latent defects in the Lab Space for a period of one (1) year after the Commencement Date, provided that Tenant notifies Landlord in writing of such defects, or for defects caused during the Term of this Lease by the negligence or misconduct of Landlord, its employees Tenant's use and agents. The responsibility for correcting such defects resides in Landlordoccupancy.
(ii) Tenant shall perform, at its sole cost and expense, all work which Tenant deems necessary or desirable to prepare the Lab Space for Tenant’s 's initial occupancy (collectively, the “Lessee "Lab Space Improvements”"), which Lessee Lab Space Improvements shall be subject to the prior written approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed by Landlord. All work shall be performed in a good and workmanlike manner and in accordance with all applicable laws. Prior to the commencement of any work within the Lab Space, Tenant shall submit to Landlord, for Landlord’s 's prior approval, approval (which approval shall not be unreasonably withheld, conditioned or delayed), proposed plans and specifications (the “"Proposed Lessee’s Lab Plans”") for Tenant's proposed improvements to the Lessee ImprovementsLab Space, which Proposed Lessee’s Plans plans shall be prepared by a registered architect and engineer licensed to do business within the State in which the Property is locatedPennsylvania. The Proposed Lessee’s Lab Plans shall include all information and specifications reasonably necessary for Landlord to fully review the work described therein and shall conform to all applicable laws and requirements of public authorities and insurance underwriters’ ' requirements. If Landlord disapproves the Proposed Lessee’s Lab Plans, Landlord shall state specifically the reasons for such disapproval, and Tenant shall cause its architect and/or engineer architects to promptly make any changes in the Proposed Lessee’s Lab Plans reasonably required by Landlord. The Proposed Lessee’s Plans, as finally approved by Landlord, are hereinafter referred to as the “Lessee’s Plans”.
(iii) All subsequent changes in the Lessee’s Plans shall be subject to the approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed. If Landlord approves any change in the Lessee’s Plans, Tenant shall construct, at Tenant’s sole cost and expense, the Lessee Improvements in accordance with such change.
(iv) Landlord shall have the right to inspect Tenant’s construction of the Lessee Improvements to ensure compliance with the provisions of this Section. Landlord shall be entitled to receive a construction supervision fee equal to five percent (5%) of Tenant’s Costs.
(v) During the period commencing on the Lab Space Delivery Date and expiring on the day immediately preceding the Commencement Date (the “Construction Period”), all of Tenant’s obligations under this Lease with respect to the Lab Space shall apply except for Tenant’s obligation to pay the Annual Base Rent and Tenant’s Share of Operating Expenses. Without limiting the foregoing, Tenant expressly acknowledges that Tenant shall be responsible for all utilities consumed within the Lab Space during the Construction Period.
(vi) All contractors utilized by Tenant for the performance of the Lessee Lab Space Improvements shall be subject to the prior written approval of Landlord.
(iii) Landlord shall provide Tenant with a construction allowance (the "Lab Space Improvement Allowance") of Twenty Dollars ($20.00) per rentable square foot of the Lab Space, which approval shall not be unreasonably withheld, conditioned or delayed by Landlord. Tenant shall submit the names of the applied solely against Tenant’s proposed contractors to Landlord 's Costs for Landlord’s prior approval at least five (5) business days prior to the initial entry into the Building or the Lab Space by Tenant’s contractorsImprovements and for no other purpose. In addition, prior to the initial entry into the Building or the The Lab Space by Tenant and by each of Tenant’s contractors, Tenant Improvement Allowance shall furnish Landlord, at Tenant’s sole cost and expense, with policies of insurance covering Landlord, the Property Manager and their respective agents and employees, with such coverages and in such amounts as Landlord may then reasonably require in order to insure Landlord, its beneficiaries or agents against loss or liability for injury or death or damage to property arising out of or related to the construction of the Lessee Improvements. Tenant agrees that Tenant and Tenant’s Contractors and their activities in the Building and Lab Space or otherwise relating to the construction of the Lessee Improvements will not [interfere with or delay the completion of the Base Building Work to be performed by Landlord and will not] interfere with any activities of Landlord and the tenants and other occupants of the Building.
(vii) Following the execution of this Lease by Landlord and Tenant’s submission of the Proposed Lessee’s Plans and the estimated costs of the Lessee Improvements, provided that Tenant is not in default in the performance of any of its obligations hereunder, Landlord shall payable from time to time during the progress of the Lessee Improvements pay to Tenant the costs of the Lessee Improvements, in cash, within twenty (20) days after Landlord’s receipt course of Tenant’s invoice(s) therefor; provided, however, that such payments shall not exceed, in the aggregate, an amount equal to the product of Eighteen Dollars ($18.00) and the total rentable square footage 's construction of the Lab Space within thirty (the “Lessor’s Maximum Tl Contribution”)30) days after receipt of invoices evidencing Tenant's Costs therefor. In the event that the costs All payments made by Landlord on account of the Lessee Improvements exceed the amount Lab Space Improvement Allowance shall be subject to retainage of ten percent (10%) until completion of the Lessor’s Maximum TI ContributionLab Space Improvements. "Tenant's Costs" shall mean Tenant's out-of-pocket contract or purchase price(s) for materials, Tenant shall be solely responsible components, labor and services for such excessthe Lab Space Improvements, including, without limitation, Tenant's costs for space planning, design, architectural and engineering services, wiring and cabling. Following payment of the final invoice, the costs of the Lessee Improvements Tenant's Costs shall be subject to examination by Landlord, and Tenant shall provide Landlord shall have reasonable access to Tenant’s cost records with copies of all invoices and other backup documentation reasonably requested by Landlord relative thereto. To the extent that Tenant's Costs are less than the Lab Space Improvement Allowance, Tenant may, at Tenant's option, apply such difference against the cost of the Office Space Improvements or, in the alternative, receive a refund or credit against the rent payable hereunder, but in no event shall such refund or credit exceed Five Dollars ($5.00) per rentable square foot of the Lab Space. In the event that Tenant's Costs exceed the amount of the Lab Space Improvement Allowance, Tenant shall be solely responsible for such excess costs.
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