Future Compliance Work definition

Future Compliance Work means any structural repairs or alterations to the Building, the Improvements or the Land that are required to be made in order to comply with a Future Law (i) that pertains generally to warehouse or office facilities (i.e., the need to comply therewith does not arise from Tenant’s particular manner of using the Premises), other than any Landlord’s Remediation Work (as defined below), and (ii) the requirement for which is not triggered or caused by Alterations being performed by or on behalf of Tenant. The cost of Future Compliance Work shall be Common Area Expense, and such cost shall be amortized and collected over the useful life of such repairs or alterations, determined in accordance with generally accepted accounting principles, with interest at the Interest Rate.
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Examples of Future Compliance Work in a sentence

  • If Landlord, pursuant to the provisions of this Lease, shall be required to perform any Future Compliance Work (as defined below), then Landlord shall perform such Future Compliance Work in a good and workmanlike manner and in accordance with all Legal Requirements, and shall exercise all reasonable efforts to minimize any interference with Tenant’s business operations that may be occasioned thereby.

  • In no event shall Tenant be responsible for any supervisory fee, construction management fee, or any similar fee payable to Landlord or an affiliate of Landlord in connection with the performance of such Future Compliance Work.

  • Tenant agrees to cooperate with Landlord in connection with the performance by Landlord, at Landlord’s expense, of any Future Compliance Work.