Common use of Target Completion Date Clause in Contracts

Target Completion Date. The Landlord shall exercise reasonable care to cause the Landlord's Work at the Demised Premises to be substantially complete on or prior to the Target Completion Date. The failure of Landlord to complete the Landlord’s Work and deliver the Demised Premises to Tenant on or before the Target Completion Date shall not make this Lease void or voidable, and Landlord shall not be in default or liable to Tenant; provided however, in the event Landlord's Work is not completed and the Demised Premises tendered to Tenant within NINETY (90) days following the Target Completion Date for any reason other than a Tenant Delay or reasons within Landlord’s control, then this Lease shall automatically become null and void and neither party hereto shall have any further rights or obligations hereunder. If the reason for Landlord’s Work not being completed within Ninety (90) days following the Target Completion date is for reasons within Landlord’s control, Tenant shall have the option of terminating this Lease by giving Landlord written notice within the following thirty (30) days and neither party shall have any further rights or obligations hereunder. In the case of either type of termination, Landlord shall refund any prepaid rent and Security Deposit to Tenant. This right to terminate if Landlord’s Work is not completed shall not supersede Landlord’s obligation above to exercise reasonable care to cause Landlord’s Work to be substantially complete on or prior to the Target Commencement Date. Under no circumstances shall Landlord be liable to Tenant for any damages including, but not limited to, direct, indirect, and consequential or incidental damages, which may be caused by any delay in commencing or completing its construction of the Demised Premises or for a total failure to complete same. The parties confirm and agree that the completion of Landlord's Work may be delayed for reasons beyond the Landlord's control, including those reasons commonly known as Force Majeure, and hereby agree that the Target Completion Date shall automatically be extended if and to the extent that any delays are encountered which are not within the control of the Landlord. For purposes of this Lease the term “