Common use of Tender Date Clause in Contracts

Tender Date. Provided Tenant has delivered to Landlord evidence satisfactory to Landlord that all insurance required to be carried by Tenant and its contractor hereunder is effective, Tenant shall have access to the Premises immediately upon the occurrence of the Tender Date; provided, however, Tenant shall not be entitled to make any alterations or improvements to the Premises until the Tenant’s Plans (as defined in the Work Agreement) have been finally approved by Landlord in accordance with the terms of the Work Agreement. Except for purposes of constructing the Tenant Improvements in accordance with terms of the Work Agreement, Tenant shall not be permitted to occupy the Premises for purposes of conducting its business therein or for any other purpose, unless and until Tenant delivers to Landlord a certificate of occupancy which shall be obtained by Tenant at Tenant’s sole cost and expense. If Landlord notifies Tenant that the Premises are otherwise available for Tenant to take possession thereof, but Tenant is not permitted to take possession of the Premises because Tenant has failed to deliver to Landlord evidence reasonably satisfactory to Landlord that all insurance required hereunder to be carried by Tenant and its contractor is effective, then (a) Landlord shall be deemed to have tendered possession of the Premises to Tenant, (b) neither the Commencement Date nor the Rent Commencement Date shall be delayed as a result thereof, and (c) Tenant shall be entitled to access the Premises when such evidence of insurance has been delivered to Landlord. Between the Tender Date and the day immediately preceding the Rent Commencement Date, all terms and provisions of this Lease shall be in full force and effect, except that Tenant shall not be obligated to pay any (i) Base Rent, or (ii) Additional Rent pursuant to paragraph 3.4, below. Notwithstanding any contrary provision contained in this Lease, in the event the Tender Date has not occurred on or before January 1, 2012 (the “Delay Termination Date”). Tenant shall have the right to terminate this Lease by delivering to Landlord, at any time between the Delay Termination Date and January 31, 2012, at least thirty (30) days prior written notice of such termination; provided, however, in the event the Tender Date occurs on or before the expiration of such thirty (30)-day period, such termination notice shall be deemed to be void and this Lease shall remain in full force and effect as though no termination notice had been delivered by Tenant. In the event the Tender Date does not occur on or before the expiration of such thirty (30)-day period, this Lease shall immediately terminate, and Landlord shall return the Prepaid Rent and the Security Deposit to Tenant. The Delay Termination Date shall be extended by one (1) day for each day that the Tender Date is delayed as a result of Force Majeure events described in paragraph 6.8 of this Lease.