Common use of Term Commencement Date Clause in Contracts

Term Commencement Date. For purposes of this Lease, the "Term Commencement Date" shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completed.

Appears in 2 contracts

Samples: Disturbance and Attornment Agreement (Lincoln National Corp), Disturbance and Attornment Agreement (Lincoln National Corp)

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Term Commencement Date. For purposes of this Lease, the "The Term Commencement Date in respect of the Expansion Area (the “Expansion Commencement Date" ”), shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occurlater of: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" itemsApril 1, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property)2008, and (ii) the date that the then-current occupant vacates the Expansion Area. While Tenant’s right to exercise its option to lease the Expansion Area remains outstanding, Landlord will not enter into any lease with any entity other than Tenant or a certificate Tenant Affiliate that will permit such entity to occupy all or any portion of occupancy has been the Expansion Area after March 31, 2008. Landlord agrees to use commercially reasonable efforts to deliver the Expansion Area to Tenant on or before April 1, 2008, which efforts shall include, if necessary, the commencement and prosecution of a summary process action to recover possession of such space. If Landlord fails to deliver possession of the Expansion Area to Tenant on or before April 1, 2008, then, as Tenant’s remedy therefor, Tenant shall receive a credit against Base Rent due hereunder in an amount equal to the excess of (or is deemed a) the base rent payable by the then-current occupant of the Expansion Area as increased pursuant to have been) issued the holdover provisions of such occupant’s lease with respect to the Premises Expansion Area over (b) the Base Rent determined under Paragraph (2) below with respect to the Expansion Area. Such credit shall be calculated on a per diem basis for each day that elapses after April 1, 2008, and before the earlier to occur of (x) the Expansion Commencement Date and (y) June 1, 2008. In addition to the foregoing, if the Expansion Commencement Date has not occurred on or the building inspector has (or is deemed to have) provided before June 1, 2008, then Tenant shall receive a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay credit against Base Rent payable hereunder in the performance or substantial completion amount of Landlord's Work the per diem Base Rent determined under Paragraph (including2) below with respect to the Expansion Area for each day that elapses after June 1, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay2008, and before the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval occurrence of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Expansion Commencement Date. Notwithstanding the foregoing, if Landlord fails the per diem credit that tenant would receive for the period from April 1, 2008 through June 1, 2008 exceeds the per diem credit that Tenant would receive after June 1, 2008, then, in lieu of the credit set forth above applicable after June 1, 2008, Tenant shall continue to substantially complete Landlord's Work receive, if the Expansion Commencement Date has not occurred on or before June 1, 2008, the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completedpreviously applicable rent credit.

Appears in 1 contract

Samples: John Hancock Tower (Investors Financial Services Corp)

Term Commencement Date. For purposes of this Lease, the "(a) The term “Term Commencement Date" shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after mean the date on upon which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, the Completion Date (as hereinafter defined) shall have occurred with respect to all of the items of Landlord’s Initial Work (as hereinafter defined) other than item 3(b) of Landlord’s Work (the “Initial AC Work”) and (y) work to be undertaken by Landlord which does not materially impair Tenant's shall have notified Tenant that Landlord has obtained the necessary approvals from the City of Norwalk for the use of the Premises for the purposes allowed hereinset forth in Section 1.05 hereof. Landlord shall use commercially reasonable efforts to cause the Term Commencement Date to occur on or before the ninetieth (90th) day after the date of this Lease. If (i) the Completion Date shall fail to have occurred on or before the applicable Outside Date (as hereinafter defined), and (z) finishes and exterior landscaping subject to the Property), extension for the period that such occurrence is prevented due to a Tenant’s Delay or Force Majeure event (as hereinafter defined) and (ii) a certificate Tenant shall have given Landlord written notice (the “Self-Help Notice”) of occupancy has been such failure within thirty (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (9030) days after Landlord's final approval of the Construction DrawingsOutside Date clearly stating “NOTICE OF FAILURE TO COMPLETE LANDLORD’S INITIAL WORK; LANDLORD’S FAILURE TO COMPLETE LANDLORD’S INITIAL WORK FOR MORE THAN THIRTY (30) ADDITIONAL DAYS SHALL ENTITLE TENANT TO EXERCISE ITS SELF-HELP RIGHT TO COMPLETE LANDLORD’S INITIAL WORK” or language to substantially similar effect and (iii) the Completion Date fails to occur within 30 days after Tenant gives the Self-Help Notice, but then Tenant shall have the right (the “Self-Help Right”) to cure such failure by completing such uncompleted item(s) of Landlord’s Initial Work in the manner Landlord is required to perform the same and to recover its reasonable out-of-pocket costs actually paid to third parties to cause the Completion Date to occur by offsetting such costs against the first installments of Base Rent (as hereinafter defined) accruing hereunder; provided however, that Tenant shall provide Landlord with paid receipts and invoices and partial lien waivers for all such work performed by Tenant and a xxxx therefor and shall give Landlord at least thirty (30) days to pay Tenant such xxxx prior to Tenant exercising any such right of offset against Base Rent. In the event that Landlord asserts that the Completion Date has not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work occurred on or before the date which is sixty Outside Date by reason of a Force Majeure event, then Landlord shall (60x) within three (3) business days after thereafter, provide Tenant with a reasonably detailed explanation of why Tenant’s exercise of the Estimated Substantial Self-Help Right would not expedite the occurrence of the Completion Date due and (y) diligently and continuously attempt to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of cause the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completedto occur as soon thereafter as reasonably practicable.

Appears in 1 contract

Samples: Lease (Digitas Inc)

Term Commencement Date. For purposes of this Lease, the "The Term Commencement Date" Date shall be defined as the earlier of (Aa) the first date on which which, pursuant to permission therefor duly given by Landlord, Tenant occupies all or any part undertakes Use of the Demised Premises for the conduct of businesspurposes set forth in Article 1, or (Bb) fourteen (14) days after the date on which both the Demised Premises are ready for Tenant’s occupancy in accordance with the provisions of Section 4.2, or (c) March 1, 2001, but in no event prior to the following shall occur: date on which Landlord’s Work (ias defined herein) Landlord's Work is substantially completed, unless and only to the extent that the lack of such substantial completion is due to the fault, delay, or inaction by Tenant or to the roof work necessitated by Tenant’s mechanical and other equipment to be placed on the roof. Notwithstanding the foregoing to the contrary, if the work set forth on Schedule A-2 is not substantially complete by January 1, 2000 and the lack of such substantial completion is not due to fault, delay or inaction of Tenant or to roof work necessitated by Tenant’s mechanical and other equipment to be placed on the roof, then for each day beyond January 1, 2001 for which the work on Schedule A-2 is not substantially complete, the March 1, 2001 date shall be (or extended for one day. Further notwithstanding anything in the foregoing to the contrary, for purposes of determining when the Premises are ready for occupancy for purposes of determining the Term Commencement Date, the Premises shall not be deemed to be) substantially ready for occupancy until Tenant has completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) its Tenant improvement work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) obtained a certificate of occupancy therefor. Tenant further acknowledges that if Landlord has been (completed its work on Schedule A-2 on or is deemed to have been) issued with respect to before January 1, 2000 and made the Premises available to Tenant, Tenant assumes the risk of delay for Tenant improvement work and acknowledges that (or the building inspector has (or is deemed subject to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or ’s obligations as to substantial completion of Landlord's Work (including’s Work) the Term will commence on March 1, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially 2001 whether or not Tenant has completed on the date that Landlord's Work would have been substantially completed but for its work and obtained such delay, and the a certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completedoccupancy.

Appears in 1 contract

Samples: Agreement of Lease (Fluidigm Corp)

Term Commencement Date. For purposes (a) Subject to Sections 3.01(c) and (d) of this Lease, Rent shall commence and the Term Commencement Date shall occur fourteen (14) days following the Substantial Completion of the Tenant Improvements in accordance with Exhibit B hereto (such date being the "Term Commencement Date" shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before upon the date which is sixty (60) days after the Estimated Substantial Completion of the Tenant Improvements in portions of the Premises, Landlord shall deliver such completed portions of the Premises (but only in Half Floor or Full Floor increments) to Tenant for Tenant to move furniture and equipment into such completed portions of the Premises. Prior to the Term Commencement Date due Tenant shall not pay any Rent while moving or installing furniture and equipment in such completed portions of the Premises. Notwithstanding anything in this Lease to Landlord's fault or neglectthe contrary, if at any time prior to the Term Commencement Date, Tenant commences business operations from any completed portion of the Premises, then all terms and provisions of the Lease shall be in full force and effect and Tenant shall pay a proportionate share of the Rent for the use of such completed portion of the Premises; provided, however, that such commencement of business operations from any completed portion of the Premises shall not trigger the Term Commencement Date. If Tenant commences business operations from any portion of the Premises prior to the Term Commencement Date, then all other provisions of the Lease (except for the full payment of Rent [Tenant will only be entitled to paying a credit (offset) against Base proportionate share of the Rent due for the use of the portion of the Premises being used by Tenant] and payable as the commencement of the Term Commencement Date Date) shall apply and be in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completedfull force and effect.

Appears in 1 contract

Samples: Office Lease (Helmerich & Payne Inc)

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Term Commencement Date. For purposes The Term of this Lease, the "Lease will commence upon the Term Commencement Date" shall be Date (as defined as the earlier of (A) the first date on which Tenant occupies all or any part in Section 1.3 of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the PropertyLease), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated any Tenant Delay causes a delay in Substantial Completion Date due to Landlord's fault or neglectof the Leasehold Improvements Work, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in shall be deemed to be the amount of one (1) day of Base Rent for each day after the Estimated date that Substantial Completion Date that Landlord's of the Leasehold Improvements Work shall not would have been substantially completedachieved, but for such Tenant Delay. On the Term Commencement Date, Landlord agrees that, at Landlord’s expense: (a) Landlord will deliver possession of the Premises and the Leasehold Improvements, free of all leases, tenancies, occupants, construction lien claims not discharged or transferred to security within ten (10) business days of the filing thereof, and defects in material and workmanship, but subject to Punchlist Items for Base Building Work or Leasehold Improvements Work; (b) the Base Building and the Leasehold Improvements will be in compliance with all Legal Requirements other than as may be applied due solely to a special use by Tenant unless the special use is shown on the final approved Base Building Plans or Leasehold Improvement Plans or in an approved Tenant’s Building Change or Tenant’s Leasehold Improvement Changes; (c) Landlord will satisfy all those obligations imposed upon Landlord by the provisions of the Lease which are required to be complied with prior to the commencement of the Term of the Lease, and (d) Landlord shall remove from the Premises all temporary systems, tools, equipment, machinery, surplus materials, waste and rubbish, and replace broken glass, except to the extent that any such items need to remain in order to complete any mutually approved Punchlist Items. Notwithstanding the foregoing, to the extent that the Term Commencement Date occurs and, due to a Tenant Delay or a default by Tenant under the Lease or this Addendum, any of the foregoing requirements set forth in clauses (a) — (d) above have not been met or satisfied by Landlord then such requirements shall be deemed to be waived by Tenant for purposes of determining the date of Substantial Completion of the Work, and the Term Commencement Date shall nevertheless be deemed to occur, but Landlord will complete such requirements when Substantial Completion of the Work actually occurs.

Appears in 1 contract

Samples: Lease Agreement (Office Depot Inc)

Term Commencement Date. For purposes of this Lease, the "The “Term Commencement Date" shall be defined as the earlier of (A) the first date on which which: (a) Landlord delivers the Premises to Tenant with the Delivery Condition (as defined below) satisfied (the “Delivery Date”); or (b) Tenant occupies all or any part portion of the Premises for the conduct of its business. Subject to the foregoing provision, Landlord anticipates that the Delivery Date shall occur on or before July 1, 2019 (B) fourteen (14) days after the date on which both of “Estimated Term Commencement Date”). Notwithstanding the following shall occur: foregoing or anything to the contrary set forth in this Lease, but subject to the terms and provisions set forth hereinbelow, Tenant acknowledges that (i) Landlord's Work shall be (all or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use a portion of the Premises are currently occupied by another tenant, Kaspersky Lab, Inc. (“Kaspersky”), with whom Landlord has entered into an agreement obligating Kaspersky to vacate and surrender the Premises to Landlord on or before June 30, 2019, (ii) Landlord shall not be liable to Tenant for failing to deliver the purposes allowed hereinPremises, or any portion thereof, to Tenant by any particular date, and (ziii) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have the right to terminate this Lease for Landlord’s failure to timely deliver the Premises, or any claim against Landlordportion thereof, and to Tenant by any particular date, but shall accept delivery of such Premises when delivered by Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by with the Estimated Substantial Completion DateDelivery Condition satisfied. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work the Delivery Date has not occurred on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglectTerm Commencement Date, then Tenant this Lease shall not be void or voidable and neither Landlord nor any of Landlord’s Agents shall be entitled liable to Tenant for any loss or damage resulting therefrom; provided, that, subject to any delays caused by casualty and/or condemnation pursuant to ARTICLE 14 below and/or Force Majeure, in the event that the Delivery Date is delayed beyond: (A) August 1, 2019 (the “Initial Outside Delivery Date”), then so long as this Lease is then in full force and effect and no default of Tenant exists hereunder beyond the expiration of applicable notice and cure periods, Tenant shall, following the Rent Commencement Date, receive a credit against Basic Rent equal to one (offset1) against Base days’ then current Basic Rent due and payable as of the Term Commencement Date in the amount of for each one (1) day that the Delivery Date is delayed beyond the Initial Outside Delivery Date; and (B) September 1, 2019, then so long as this Lease is then in full force and effect and no default of Base Rent Tenant exists hereunder beyond the expiration of applicable notice and cure periods, Tenant shall have the right to terminate this Lease upon at least ten (10) Business Days’ written notice to Landlord (“Tenant’s Termination Notice”) in which case this Lease shall terminate and be of no further force and effect without further liability or obligation on the part of either party (except for each day after any obligations expressly stated herein to survive termination) unless Landlord causes the Estimated Substantial Completion Delivery Date that to occur prior to the expiration of such ten (10) Business Day period, in which case such termination and termination right (and Tenant’s Termination Notice) shall be null and void and of no further force and effect and this Lease shall continue in full force and effect. Promptly upon the occurrence of the Term Commencement Date, Landlord may, at Landlord's Work ’s option, deliver to Tenant written notice confirming same, but Landlord’s failure to deliver such notice shall not have been substantially completedconstitute a default by Landlord or affect the rights and obligations of the parties hereunder. At Landlord’s request, Tenant shall execute and deliver to Landlord a Commencement Date Agreement in the form attached hereto as Exhibit D confirming the Term Commencement Date, the Rent Commencement Date and the Expiration Date within ten (10) days of such request.

Appears in 1 contract

Samples: Lease (Replimune Group, Inc.)

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