Common use of Substantial Completion of the Tenant Improvements Clause in Contracts

Substantial Completion of the Tenant Improvements. Tenant shall diligently prosecute and substantially complete or cause to be substantially completed the Tenant Improvements in a good and workmanlike manner, in accordance with the TI Permit and Tenant’s contracts, subject, in each case, to Minor Variations (as defined below) and normal "punch list" items of a non-material nature which do not interfere with the use of the Premises ("TI Substantial Completion" or "TI Substantially Complete") in accordance with the TI Construction Schedule. Tenant shall obtain and deliver to Landlord a temporary or permanent certificate of occupancy for the Tenant Improvements as a condition precedent to TI Substantial Completion; provided, however, that if a temporary certificate of occupancy is delivered to Landlord, Tenant will use diligent efforts to obtain and deliver to Landlord a permanent certificate of occupancy as soon as is reasonably practical but in any event within thirty (30) of issuance of the temporary certificate of occupancy. Upon TI Substantial Completion, Tenant shall require the TI Architect and the general contractor to execute and deliver, for the benefit of Tenant and Landlord, a Certificate of Substantial Completion in the form of the American Institute of Architects ("AIA") document G704. For purposes of this Work Letter, "Minor Variations" shall mean any modifications reasonably required: (i) to comply with all applicable Legal Requirements and/or to obtain or to comply with any required permit (including the TI Permit); (ii) to comport with good design, engineering, and construction practices which are not material; or (iii) to make reasonable adjustments for field deviations or conditions encountered during the construction of the Tenant Improvements.

Appears in 1 contract

Sources: Lease Agreement (2seventy Bio, Inc.)

Substantial Completion of the Tenant Improvements. Tenant shall diligently prosecute and substantially complete or cause to be substantially completed the Tenant Improvements (or the applicable TI Phase) in a good and workmanlike manner, in accordance with the TI Permit and Tenant’s contracts, subject, in each case, to Minor Variations (as defined below) and normal "punch list" items of a non-material nature which do not interfere with the use of the Premises ("TI Substantial Completion" or "TI Substantially Complete") in accordance with the TI Construction Schedule”). Tenant shall obtain and deliver to Landlord a temporary or permanent certificate Certificate of occupancy Occupancy for the Tenant Improvements (or applicable TI Phase) as a condition precedent to TI Substantial Completion; provided, however, that if a temporary certificate of occupancy is delivered to Landlord, Tenant will use diligent efforts to obtain and deliver to Landlord a permanent certificate of occupancy as soon as is reasonably practical but in any event within thirty (30) of issuance of the temporary certificate of occupancy. Upon TI Substantial Completion, Tenant shall require the TI Architect and the general contractor to execute and deliver, for the benefit of Tenant and Landlord, a Certificate of Substantial Completion in the form of the American Institute of Architects ("AIA") document G704. For purposes of this Work Letter, "Minor Variations" shall mean any modifications reasonably required: (i) to comply with all applicable Legal Requirements and/or to obtain or to comply with any required permit (including the TI Permit); (ii) to comport with good design, engineering, and construction practices which are not material; or (iii) to make reasonable adjustments for field deviations or conditions encountered during the construction of the Tenant Improvements.

Appears in 1 contract

Sources: Lease Agreement (Ariad Pharmaceuticals Inc)