Repair Completion definition
Examples of Repair Completion in a sentence
If the Premises or any common areas of the Building or Project serving or providing access to the Premises shall be damaged by fire or other casualty, Landlord shall notify Tenant of the estimated date of completion of the repair (“Estimated Repair Completion Date”).
To exercise such right of termination, Tenant must give written notice of termination to Landlord on or before the earlier to occur of (i) the tenth (10th) business day following the Repair Completion Date; or (ii) Landlord’s completion of the casualty repairs (other than minor punch list items) for which Landlord is responsible under this Article 9.
At any time, from time to time, after the date occurring thirty (30) days after the date of the damage, Tenant may request that Landlord provide Tenant with its reasonable, good faith opinion of the date of completion of the repairs (the “Anticipated Repair Completion Date”), and Landlord shall respond to such request within five (5) business days.
If the Completion Estimate indicates that the Repair Completion Date will not occur within three hundred sixty five (365) days after the date of the Casualty, then Tenant may terminate this Lease upon sixty (60) days’ prior notice to Landlord delivered within sixty (60) days after Landlord’s delivery of the Completion Estimate.
In the event that the Repair Completion Date set forth in the Repair Notice is on or before the first anniversary of the Casualty Date, this Lease shall remain in effect and Landlord shall at its sole cost and expense proceed with reasonable diligence to rebuild and repair such damaged areas of the Project to substantially the condition in which they existed before the damage or destruction.
If the Premises, or any part thereof, are damaged or destroyed by a casualty, then within ninety (90) days following the Casualty Date Landlord shall give Tenant a Repair Notice setting forth the Repair Completion Date by which Landlord estimates that Landlord, in the exercise of commercially reasonable diligence, can adjust the casualty damage with any third-party insurer of Landlord and complete the repair and reconstruction of the casualty damage.
In addition, if the actual Repair Completion Date does not occur within the later of (a) three hundred sixty-five (365) days after the date of the Casualty or (b) thirty (30) days after the Repair Completion Date set forth in the Completion Estimate, then Tenant shall have the right to terminate this Lease upon written notice to Landlord, which notice must be delivered within thirty (30) days after the expiration of such period.
Upon completion of the Critical Repairs, Seller shall deliver to Buyer a completion letter or similar notice documenting the completion of the Critical Repairs (the “Critical Repair Completion Notice”) executed by Seller and Seller’s contractor and/or architect who performed and/or supervised the construction of the Critical Repairs.
If Landlord and Tenant do not agree for any reason on the Estimated Repair Period, Estimated Repair Completion Date and Estimated Repair Cost within fifteen (15) days after such Damage, then Landlord shall, within five (5) days thereafter, select an architect to make such determinations, failing which Tenant may select an architect.
If the Repair Completion Date is more than 120 days, but less than 365 days, from the date of damage, Tenant may, at its election made by giving written notice thereof to Landlord within ten (10) days after receipt of Landlord's notice, extend the time for completion of repair through the Repair Completion Date.