Phase 1 Delivery Clause Samples

Phase 1 Delivery. Landlord anticipates that it will and shall make good faith, commercially reasonable efforts to deliver possession of the Phase 1 Premises to Tenant in the Delivery Condition on the "Phase 1 Delivery Date" as defined in Section 1.2 of Exhibit B attached to this Lease. In the event that Landlord does not deliver possession of the Phase 1 Premises to Tenant on or before the Phase 1 Outside Delivery Date as defined in Section 1.2 of Exhibit B attached to this Lease (subject to extension for Force Majeure and/or actual Tenant caused delays that prevent Landlord from delivering the Phase I Premises to Tenant), Landlord shall not be deemed in breach of this Lease. In addition to the postponement of the Phase 1 Lease Commencement Date on a day for day basis for each day of such delay in delivery, Tenant shall receive (i) a Base Rent credit of one day of Base Rent payable for the Phase 1 Premises for each day of delay if the Phase 1 Delivery Date occurs after January 1, 2018 (which is the Phase 1 Outside Delivery Date), (ii) the Base Rent credit shall increase to one and one-half (1-1/2) days of Base Rent payable for the Phase 1 Premises for each day of delay if the Phase 1 Delivery Date occurs after February 1, 2018, and (iii) the Base Rent credit shall increase to two (2) days of Base Rent payable for the Phase 1 Premises for each day of delay if the Phase 1 Delivery Date occurs after March 1, 2018. Notwithstanding the foregoing, if the Phase 1 Delivery Date has not occurred on or before July 1, 2018, Tenant may terminate this Lease in its entirety by giving Landlord written notice of termination. In such event, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid rent and Security Deposit (including any Letter of Credit) previously tendered by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. The foregoing shall be Tenant’s sole and exclusive remedies for the delay in the Phase 1 Delivery Date.