Common use of Outside Delivery Date Clause in Contracts

Outside Delivery Date. In the event Landlord fails or is unable to achieve Substantial Completion of the Landlord's Work and Tenant Improvements within one hundred and eighty (180) calendar days from the Substantial Completion Date, as such date may be extended by Force Majeure Events (the "Outside Delivery Date"), then Tenant may, in its sole and absolute discretion, cancel and terminate this Lease Agreement by providing written notice thereof to Landlord within thirty (30) calendar days following the Outside Delivery Date (but prior to Substantial Completion), whereupon this Lease Agreement shall terminate effective as of the date set forth in Tenant's notice. Landlord's obligation to pay the damages in accordance with Section 2.10 above, through the termination date only, shall survive such termination, and such amount shall be paid to Tenant within thirty (30) calendar days after the date of Tenant's notice, or Tenant's right to terminate under this Section 2.11 is waived.

Appears in 1 contract

Sources: Lease Agreement (Digital Lightwave Inc)

Outside Delivery Date. In the event Landlord fails or is unable to achieve Substantial Completion of the Landlord's ’s Work and Tenant Improvements within one hundred and eighty (180) calendar days from the Substantial Completion Date, as such date may be extended by Force Majeure Events (the "Outside Delivery Date"), then Tenant may, in its sole and absolute discretion, cancel and terminate this Lease Agreement by providing written notice thereof to Landlord within thirty (30) calendar days following the Outside Delivery Date (but prior to Substantial Completion), whereupon this Lease Agreement shall terminate effective as of the date set forth in Tenant's ’s notice. Landlord's ’s obligation to pay the damages in accordance with Section 2.10 above, through the termination date only, shall survive such termination, and such amount shall be paid to Tenant within thirty (30) calendar days after the date of Tenant's ’s notice, or Tenant's ’s right to terminate under this Section 2.11 is waived.

Appears in 1 contract

Sources: Lease Agreement (Digital Lightwave Inc)