Phase One definition
Examples of Phase One in a sentence
Within one year following substantial completion of Phase One, Tenant shall sublease to TTUS, a parcel of land on the Data Center Campus at no charge to TTUS, for the construction of a standalone 10,000 square foot Data Center Facility with a minimum capacity of 1,500 rack units at a location mutually satisfactory to TTUS and Tenant (the “Texas Tech University System Data Center”).
During the Term, in addition to all other Rent payable to Landlord, and without demand, deduction, abatement, or setoff, Tenant shall pay Landlord delay rent (“Delay Rent”) in an amount equal to one hundred thousand dollars ($100,000) for each day of delay in achieving Phase One Sublease Commencement beyond the Target Phase One Sublease Commencement Date.
Tenant shall not cause or permit the Commencement of Construction to occur upon the Premises, with respect to Phase One or otherwise, until Landlord shall have delivered unto Tenant a signed notice to proceed, authorizing Tenant to commence construction activities (the “Notice to Proceed”).
Within one year following substantial completion Phase One, Tenant shall sublease to TTUS, at no charge to TTUS, not less than fifteen (15) acres on the Data Center Campus for Landlord’s construction of academic and research facilities at a location reasonably satisfactory to TTUS (the “Texas Tech University System Research Campus”).