Term and Possession Clause Samples

Term and Possession. (a) The term of this Lease (the “Term”) shall commence on May 1, 2007 (the “Commencement Date”) and, unless sooner terminated pursuant to the express provisions of this Lease, shall expire on the Expiration Date (as defined below). The “Expiration Date” shall be the day which is one day prior to the third anniversary of the Commencement Date, unless the Lease is sooner terminated pursuant to the express provisions of this Lease. If Landlord, for any reason whatsoever, cannot deliver possession of the Premises to Tenant on the Scheduled Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. Notwithstanding the foregoing, if Landlord fails to deliver possession of the Premises to Tenant with all of Landlord’s Work (as such term is defined in Section 2(b) below) substantially complete on or before May 1, 2007 (as extended day-for-day for each day of Tenant Delay or Force Majeure Delay), then Tenant shall have the right to terminate this Lease by providing written notice to Landlord at any time within five (5) days after the expiration of such period. Within five (5) business days after the Commencement Date, the parties shall execute a letter confirming the Commencement Date and certifying that Tenant has accepted delivery of the Premises, in the form attached hereto as EXHIBIT “D” (the “Commencement Date Memorandum”). Either party’s failure to request execution of, or to execute, the Commencement Date Memorandum shall not in any way alter the Commencement Date. (b) Notwithstanding the provisions of Paragraph 2(a), Tenant shall be entitled to early occupancy of the Premises at any time after the full execution of this Lease provided that (i) Tenant covenants and agrees that neither Tenant not Tenant’s employees, guests or invitees will interfere with the performance and completion of the Landlord’s Work, (ii) Landlord shall have no liability to Tenant for delays in completing the Landlord’s Work which result from, are caused by or arise out of the interference by Tenant or Tenant’s employees, guests or invitees in the performance of the Landlord’s Work, (iii) Tenant shall promptly comply with any and all requests made by Landlord or Landlord’s contractor(s) that Tenant remove its property from those areas in or around which Landlord is performing the Landlord Work, and (iv) Landlord shall not be liable for, Tenant hereby waives all claims which Tenant may have against Lan...

Term and Possession. If Landlord is unable to deliver possession of Premises on the Start Date, rent shall be abated on a daily basis until possession is granted. Neither Owner, Landlord, or Broker shall be liable for any delay in the delivery of possession of Premises to Tenant.

Term and Possession. 3 ARTICLE 3 - RENT .................................................................................................5

Term and Possession. The term of this Lease runs for the period described in the Lease Email (the “Term”). Possession will be provided only after the initial rent amount described in the Lease Email is paid. Such amount will be applied to the first month’s rent. If ▇▇▇▇▇▇ does not take possession on the day it is to be provided and if by that day Tenant has not notified MSU in writing that Tenant will take possession on a later day, MSU may presume conclusively that ▇▇▇▇▇▇ has abandoned the Apartment and re-rent it. If the Apartment is not ready for occupancy when the Term commences, MSU’s sole liability to Tenant is abatement of Tenant’s rent, in the same percentage that the Apartment is not ready for occupancy, from the date the Term commences to the date the Apartment is ready for occupancy, which date is at MSU’s exclusive determination.

Term and Possession. This Lease begins on the day of , 20 , and runs through the day of , 20 . Possession will not be provided until the first month’s rent, Security Deposit, and preparation fee are paid. If the Premises are not ready on the date this Lease commences, the sole damage for which Landlord shall be liable to Tenant is the full abatement of Tenants’ prorated rent from the date this Lease commences to the date the Premises are ready for occupancy, which date is at ▇▇▇▇▇▇▇▇’s exclusive determination. If none of the Tenants takes possession on the day it is to be provided, and if Tenants have not given Landlord written notice that they will take possession on a later day, Landlord may presume conclusively that Tenants have abandoned the Premises and may proceed to re-rent them.

Term and Possession. 3.01 TERM Notwithstanding Articles 3.02 and 3.03, the Term of this Lease shall be five (5) years, beginning on the first day of the month of April, 2000, and ending on the last day of the month of March, 2005 unless terminated earlier as provided in this Lease.

Term and Possession. Section 2.01.

Term and Possession. The lease Term runs from at 12:00 NOON to at 12:00 NOON. Possession will be provided only after the first month’s rent, Security Deposit, and processing fee are paid. If none of the Tenants takes possession on the day it is to be provided, and if by that day Tenants have not notified Landlord in writing that they will take possession on a later day, Landlord may presume conclusively that Tenants have abandoned the Premises and rerent them. If the Premises are not ready for occupancy when the Term commences, ▇▇▇▇▇▇▇▇’s sole liability to Tenants is abatement of Tenants’ rent, in the same percentage that the Premises are not ready for occupancy, from the date the Term commences to the date the Premises are ready for occupancy, which date is at Landlord’s exclusive determination.

Term and Possession. 2.1 The term of this Lease shall commence on the date (the "Commencement Date") which is the earlier of (a) the date on which Landlord achieves Substantial Completion or (b) March 31, 2000, provided that Landlord has achieved Substantial Completion, or would have achieved Substantial Completion but for Tenant Delay or Force Majeure. In no event shall the Commencement Date be prior to February 1, 2000 nor later than March 31, 2000, subject, however, to delays caused by Force Majeure (as hereinafter defined) and Tenant Delay (as hereinafter defined). For purposes of the preceding provisions, the Premises shall be substantially completed and "Substantial Completion" shall have occurred on the last to occur of the following: (1) the Landlord's obtaining a temporary or permanent Certificate Of Use And Occupancy (or equivalent) permitting the full use and occupancy of the Premises by Tenant as contemplated by Section 5, (2) building fire alarms, fire sprinklers, smoke detectors, exit lights, life safety equipment and other building code requirements having been installed and being operational, (3) the mechanical, electrical and plumbing services serving the Premises having been installed and in good working order and access to the Premises is available, (4) the Tenant Improvements (as hereinafter defined) being substantially completed as evidence by a written certification by the architect designing such improvements subject, however, to Punch List items (as hereinafter defined), so as to enable Tenant to move in and install its furniture, fixtures, equipment and machinery, and (5) the Parking Lot being accessible and useable by Tenant as set forth in Section 1.3 above. If and to the extent compliance with the conditions set forth above would have occurred earlier but for Tenant Delay, then compliance with such conditions shall be deemed to have occurred on the day on which it would have occurred but for such Tenant Delay (i.e., Substantial Completion would be accelerated on a day-for-day basis for each day of Tenant Delay).