SHELL CONDITION Clause Samples

The Shell Condition clause defines the required state of a property’s structure, typically referring to its unfinished or minimally finished state at the time of delivery or lease commencement. In practice, this clause outlines which elements—such as walls, floors, ceilings, and basic utilities—must be present or completed, and clarifies which party is responsible for any additional improvements or build-outs. Its core function is to set clear expectations regarding the property’s physical condition, thereby preventing disputes over responsibility for construction or finishing work.
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SHELL CONDITION. Landlord shall deliver the Demised Premises to Tenant in Shell Condition, as defined in Exhibit E attached hereto and made a part hereof, which shall include the delivery of the ninth (9th) floor component of the Demised Premises in Shell Condition as if it were to be used as a multi-tenanted floor. Landlord is under no obligation to make any other improvements of any nature to the Demised Premises. Notwithstanding the foregoing, Landlord shall make available for the performance of Tenant's Work (as hereinafter defined) an allowance (the "Tenant Allowance") in an amount equal to the product of (a) Fifty-Eight and 46/100 Dollars ($58.46) multiplied by (b) the number of square feet of rentable area comprising the Demised Premises. Landlord shall pay the Tenant Allowance to Tenant following Tenant's completion of Tenant's Work (as hereinafter defined) and Landlord's receipt from Tenant of (i) a written certification signed by an officer of Tenant (or ▇▇. ▇▇▇▇ ▇▇▇▇▇▇▇ as Tenant's representative) requesting such payment, and (ii) invoices reasonably evidencing work or services performed with respect to Tenant's Work (as hereinafter defined), and (iii) receipted bills or other evidence that the aforesaid invoices have been paid in full, and (iv) waivers or releases of liens from each of Tenant's contractors, subcontractors and suppliers in connection with the work performed or materials supplied as evidenced by the aforesaid invoices. Payment of portions of the Tenant Allowance pursuant to the terms of this Paragraph 16.1 shall not be requested more often than once during any calendar month, and commencing with the second (2nd) request, each request shall be delivered to Landlord not sooner than thirty (30) days following the date of the previous request. Landlord shall make payment of the appropriate amount of the Tenant Allowance requested by Tenant in each request within thirty (30) days following Landlord's receipt of the request with all of the conditions set forth in this Paragraph 16.1 having been satisfied by Tenant. Tenant, at its cost and expense, shall provide the design services of an architect and engineer selected by Tenant and approved by Landlord who shall prepare complete architectural, structural, mechanical, electrical and plumbing plans and specifications as necessary to obtain final governmental permits and approvals and to construct all of the improvements to the Demised Premises to be performed by Tenant (the "Preliminary Plans and Specifi...
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SHELL CONDITION. Prior to the Date of Substantial Completion, Lessor shall have completed the following improvements to the Building (collectively, "Lessor's Work"): (a) Exterior, including front door, into the Premises; (b) Unfinished concrete floors throughout the Premises, broom clean and ready for Building Standard floor; (c) Electrical conduit from the main switchgear stubbed into the Premises; (▇) ▇▇illed water service brought up to the Premises; and (e) Unfinished CMU demising walls.
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SHELL CONDITION. Perimeter walls and core walls shall be taped, patched, sanded and ready for paint;
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SHELL CONDITION. FOUR POINTS SHELL CONDITION
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SHELL CONDITION. TENANT'S WORK. Landlord acknowledges that it has received from Tenant and has approved the location and size of the opening (but not the design) for the
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SHELL CONDITION. TENANT'S WORK; ALTERATIONS
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SHELL CONDITION. LANDLORD agrees to deliver the demised premises in "Shell Condition" to TENANT at LANDLORD's sole cost and expense. For the purposes of this Lease, "SHELL CONDITION" includes all base Building structural systems, concrete floors, exterior walls framed and insulated inside the demised premises, exterior window openings and standard building glazing, Building standard doors from the Building common areas into the demises premises complete with frames and hardware, primary heating and air conditioning equipment including air handlers, HVAC control system, main trunk ductwork stubbed into the demised premises, electricity for power and lighting available from a panel in the second floor equipment room, a main fire sprinkler line stubbed into the premises, two wet stacks consisting of sanitary sewer, vent and cold water (one on each end of the Building, one women's and one men's restroom on the second floor Exhibit F and a fire alarm system for the Building pursuant to local codes. All systems and equipment provided as part of the Building Shell shall be adequately sized and designed to accommodate standard office use in Wichita, Kansas. LANDLORD shall make its best efforts to provide limited participation for TENANT in the selection of colors of interior common areas and colors of exterior materials. The following are attached hereto to further define the Building shell: Exhibit F: Building Shell Floorplan--This plan shows the extent that walls, windows, stairs, etc. will be constructed as part of the Building Shell. Any finishes other than those shown on the plan shall be included as part of Leasehold Improvements as defined in Section 25.3 hereof. Exhibit G: Building Elevations--These plans show the exterior appearance of the Building from the front, side and back views.
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SHELL CONDITION. The Building will be completed in its shell condition defined as follows: Upon Substantial Completion, the Building will be completed with the following improvements in accordance with the Building plans: (a) outside walls, windows and unfinished concrete floors, (b) Building standard electric service supplied to house panel provided in the Building and (c) Building common water line service running through the Building, and (e) sprinkler risers and main loop without the dropping of sprinkler heads.
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Related to SHELL CONDITION

  • Special Condition With respect to Liability to the Fund or its shareholders, and subject to applicable state and federal law, the Board Member shall be indemnified pursuant to this Section 1 against any Liability unless such Liability arises by reason of the Board Member’s willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office as defined in such Section 17(h) of the Investment Company Act of 1940, as amended (“Disabling Conduct”).

  • ORIGINAL CONDITIONS A. All reinsurance under this Contract shall be subject to the same rates, terms, conditions, waivers and interpretations and to the same modifications and alterations as the Policy, subject to the terms and conditions of this Contract, and the Reinsurer shall be credited with its exact proportion of the Insured's premiums due to the Company under the Policy. B. Nothing herein shall in any manner create any obligation or establish any right against the Reinsurer in favor of third parties or any persons not parties to this Contract except as provided with respect to the Insured in this Contract or in the Assumption of Liability Endorsement. C. In the event of a Quota Share Reduction, as that term is defined under the Policy, each Subscribing Reinsurer's participation percentage in this Contract shall be increased in the proportion that 100% bears to the total Subscribing Reinsurer's participation after the Quota Share Reduction. For the avoidance of doubt, such participation percentage increase is necessary to account for the reduction provisions of the Reduction Under Quota Share Contract Article of the Policy. If applicable, the Remaining Aggregate Retention, as that term is defined under the Policy, would likewise be adjusted. Any termination of a Subscribing Reinsurer's participation in this Contract shall not require the consent of any other Subscribing Reinsurer. As respects each Subscribing Reinsurer still participating on this Contract following the Reinsurer Reduction Date, as that term is defined under the Policy, in no event shall its share of the aggregate limit following the Reinsurer Reduction Date be greater than its share of the aggregate limit prior to the Reinsurer Reduction Date, notwithstanding that its participation percentage may increase as a result thereof. As an example, where the aggregate limit is $300,000,000 with each of three Subscribing Reinsurers retaining a 33.33% share ($100,000,000 each), and one Subscribing Reinsurer's share is terminated, then the resulting aggregate limit becomes $200,000,000 with each of the two remaining Subscribing Reinsurers retaining a 50.00% share (i.e., 33.33% x 100%/66.67%). As respects each of the two remaining Subscribing Reinsurers, its share of the aggregate limit shall remain at $100,000,000.

  • Failure to Fulfill Conditions In the event that either of the parties hereto determines that a condition to its respective obligations to consummate the transactions contemplated hereby cannot be fulfilled on or prior to the termination of this Agreement, it will promptly notify the other party.

  • Environmental Condition Except as set forth on Schedule 4.11, (a) to Borrower’s knowledge, no Loan Party’s nor any of its Subsidiaries’ properties or assets has ever been used by a Loan Party, its Subsidiaries, or by previous owners or operators in the disposal of, or to produce, store, handle, treat, release, or transport, any Hazardous Materials, where such disposal, production, storage, handling, treatment, release or transport was in violation, in any material respect, of any applicable Environmental Law, (b) to Borrower’s knowledge, after due inquiry, no Loan Party’s nor any of its Subsidiaries’ properties or assets has ever been designated or identified in any manner pursuant to any environmental protection statute as a Hazardous Materials disposal site, (c) no Loan Party nor any of its Subsidiaries has received notice that a Lien arising under any Environmental Law has attached to any revenues or to any Real Property owned or operated by a Loan Party or its Subsidiaries, and (d) no Loan Party nor any of its Subsidiaries nor any of their respective facilities or operations is subject to any outstanding written order, consent decree, or settlement agreement with any Person relating to any Environmental Law or Environmental Liability that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect.

  • Physical Condition Except as disclosed in the Physical Conditions Reports delivered to Lender in connecting with this Loan, to Borrower's knowledge, the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond.