Common use of Section reserved Clause in Contracts

Section reserved. The Date of Substantial Completion of the Project or a designated portion thereof is the date certified by Architect/Engineer when (i) construction is sufficiently complete in accordance with the Drawings and Specifications so the Tenant can occupy or utilize the Project or designated portion thereof for the use for which it is intended with a minimum of interference by Construction Manage and the Trade Contractors and is complete with the exception of punch list items of a minor nature (having an aggregate value of less than $25,000) and (ii) Construction Manager has supplied Tenant with a certificate of occupancy or an equivalent use or occupancy permit issued by the building inspector within the municipality where the Project is located. Guarantees and warranties called for by this Agreement or by the Drawings and Specifications shall commence on the Date of Substantial Completion of the Project or designated portion thereof, or such later date as may be specified in the Specifications with respect to any applicable Trade Contractor or supplier. Should the Construction Manager be unable to secure the certificate of occupancy due to acts or omissions of the Tenant or its Architect/Engineer which are not cured within seven days after written notice from the Construction Manager specifying such acts or omissions in reasonable detail, then such delay shall entitle the Construction Manager to the benefits allowed under Subparagraphs 5.4 and 7.2.2.