Term and Construction Clause Samples
The 'Term and Construction' clause defines the duration of the agreement and sets out the rules for interpreting its provisions. It typically specifies when the contract begins, how long it will remain in effect, and may outline procedures for renewal or expiration. Additionally, it clarifies how ambiguities or conflicts in the contract language should be resolved. This clause ensures both parties understand the timeframe of their obligations and provides a framework for interpreting the contract, reducing the risk of disputes over meaning or duration.
Term and Construction. 3.1 The term of this Lease shall commence on the Commencement Date (as defined in Section 1(g) hereof) and expire on the Expiration Date (as defined in Section 1(h) hereof), subject to any extensions pursuant to Article 29 hereof.
3.2 Tenant shall accept the demised premises in their then "as is" condition as of the Commencement Date, and Tenant acknowledges that no representations as to the condition of the demised premises have been made by Landlord or its agents (except as expressly set forth in this Lease), and no obligations as to renovating, improving or adding to the same have been assumed by Landlord (except as expressly set forth in this Lease). Any changes, alterations or improvements which Tenant wishes to make to the demised premises shall be made at Tenant's sole cost and expense and in accordance with Article 8 and Exhibit “C” hereto. Landlord shall use its best efforts to substantially complete the Tenant Improvement Work (as defined in Exhibit "C" attached hereto) and obtain all governmental approvals required for the occupancy of the demised premises within sixty (60) days following the approval by Tenant of the Tenant Improvement Cost (as defined in Exhibit "C") subject to any long lead items
Term and Construction. 3.1 Landlord shall construct the Tenant improvements (as defined In Exhibit “C" attached hereto). The term of this Lease shall commence on the Commencement Date (as hereinafter defined) and expire on the Expiration Date (as defined in Section 1 (h) hereof).
3.2 The term ‘”Commencement Date" shall mean the date Landlord has Substantially Completed (as hereinafter defined) the Tenant Improvements, provided in the event of a Tenant Delay (as hereinafter defined), the Tenant improvements shall be deemed to have been so Substantially Completed and the Commencement Date shall be deemed to have occurred on the date such Substantial Completion would have occurred but for such delay. Notwithstanding the foregoing, in the event Tenant shall take possession of the demised premises and commence ordinary business operations there from prior to the Commencement Date as determined by the preceding sentence, the Commencement Date shall be deemed to be the date Tenant so takes possession of the demised premises and commences ordinary business operations there from. The term "Substantially Complete" shall mean (i) substantial completion subject only to the completion of details of construction, decorations and mechanical adjustments that do not materially interfere with Tenants use of the demised premises, and (ii) receipt of all governmental approvals required for the occupancy of the demised premises. The term 'Tenant Delay" shall mean any delay caused by Tenant or Tenant's contractors In the Substantial Completion of the Tenant Improvements, including (i) any delay caused by a change in the Tenant improvements requested by Tenant from and after the date hereof, and/or (ii)any delay caused as a result of interference by Tenant's subcontractors with the construction of the Tenant improvements and/or obtaining final inspections and approvals from the City of Southfield.
Term and Construction. 3.1 Landlord shall perform the Tenant Improvement Work (as defined in Exhibit "C" attached hereto) in accordance with the terms and provisions of said Exhibit "C". The term of this Lease shall commence on the Commencement Date (as hereinafter defined) and expire on the Expiration Date (as defined in Section 1(h) hereof). Following the determination of the Commencement Date, the parties shall execute a commencement certificate to memorialize the Commencement Date, the Expiration Date, the Basic Rental schedule, and any other relevant dates hereunder.
3.2 The term "
Term and Construction. 3 (A) TERM 3 (B) LANDLORD'S REQUIRED WORK.................................. 3 (C) TENANT'S WORK............................................. 4 (D)
Term and Construction. This Lease shall become effective upon full execution by both parties. The initial term of this Lease shall be for ten (10) years beginning on the Commencement Date as hereinafter defined. Each party agrees, upon request by the other, to execute a supplemental agreement evidencing the actual term of this Lease at such time as the exact dates are known. From and after the date hereof, Lessor shall construct, at its sole cost and expense, the Premises in accordance with those certain Plans and Specifications (the "Plans") attached hereto as Exhibit "C" and made a part hereof, and any changes or amendments thereto which are properly authorized in writing by Lessor and Lessee, and shall proceed with due diligence with such construction so that construction is completed and the Premises are ready for occupancy and served by utilities necessary therefor on or before seven (7) months from commencement of construction with credit for weather delays and acts of God as certified by the architect. When the Premises have been substantially completed in accordance with the Plans (subject to normal minor "punch-list" items which do not materially interfere with Lessee's intended use and occupancy of the Premises) and Lessor has obtained a permanent certificate of occupancy entitling Lessee to occupy the Premises, Lessor shall notify Lessee that the Premises are ready for occupancy. Lessor shall prepare and certify by signature and deliver to Lessee a written statement certifying that the Premises have been substantially completed in accordance with the Plans and any authorized changes or amendments thereto, and certifying the date of substantial completion. Lessor shall diligently complete as soon as reasonably possible any items of work and adjustments not completed when the Premises are so ready for occupancy. Lessor shall assign to Lessee all applicable third party warranties and guaranties obtained by Lessor in connection with the construction of such improvements. As used herein, the term "Commencement Date n shall mean that date which is the earlier to occur of (i) the issuance of a Certificate of Occupancy establishing that the Premises are ready for occupancy by Lessee or (ii) Lessee's actual occupancy of a majority of the Premises. Prior to the commencement Date, Lessor shall furnish to Lessee a certificate from Lessor's architect that the Premises have been substantially completed in accordance with the Plans. Lessor and Lessee shall, upon such delivery, execu...
Term and Construction