Construction of Leased Premises Clause Examples
The "Construction of Leased Premises" clause defines the responsibilities and procedures for building or improving the space that will be leased. It typically outlines which party—landlord or tenant—is responsible for the construction work, the standards and timelines for completion, and any requirements for approvals or inspections. For example, it may specify that the landlord must deliver the premises in a certain condition or that the tenant is allowed to make specific alterations. This clause ensures both parties have a clear understanding of their obligations regarding the preparation of the leased space, thereby preventing disputes and delays related to the condition or readiness of the premises.
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Construction of Leased Premises a. Promptly following the Effective Date, Landlord, on a turnkey basis, shall construct the Tenant Improvements (defined below) in accordance with the Floor Plan (Exhibit A), and the “Tenant Space Finish Work” as set forth in Exhibit B (Exhibits A and B shall be referred to collectively as the “Tenant Improvements” or “Final Plans”). ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ agree to work together reasonably and in good faith to agree upon the full scope of the Tenant Improvements, which will be reflected in detailed construction plans. Landlord shall pay for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”). Tenant shall be solely responsible for the amount by which the Costs exceed the Allowance (“Excess Allowance”), however to extent Landlord agrees such Excess Allowance may be amortized into the Base Annual Rent. Any additional costs incurred or time delays as a result of Tenant’s deviation from the plans and finishes set forth on Exhibits A and B, once finalized shall require a written change order signed by ▇▇▇▇▇▇ (“Tenant Change Orders”), and shall be the sole responsibility of Tenant. Except with respect to delays caused by ▇▇▇▇▇▇’s neglect, wrongful actions, or wrongful omissions, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements shall be completed on or prior to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items in the Tenant Improvements. No later than thirty (30) days after the parties’ execution of said “punch list”, Landlord shall complete all items identified on said “punch list”. Landlord and Tenant acknowledge that the Tenant Improvement plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding the work to be performed in the Premises, but that certain additional work may need to be performed or adjustments may need to be made to the proposed Tenant Improvements. ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ agree to work together in good faith to mutually and reasonably agree upon any changes required to the Tenant Improvements. Notwithstanding the foregoing, if Landlord, for any reason whatsoever other than Tenant caused delays, cannot deliver possession of the Premises to Tenant on or before the Anticipated Occupancy Date, this Lease shall not be void or voidable, nor shall La...
Construction of Leased Premises. Landlord shall provide a tenant improvement allowance (the “Tenant Improvement Allowance”) to pay for Tenant Improvements in accordance with the requirements of Exhibit “C”.
Construction of Leased Premises. Upon completion of Tenant Finish plans as contemplated by Exhibit “C,” Landlord shall provide a budget for Tenant’s approval prior to the commencement of construction of the Leased Premises (see Exhibit “E”). Landlord shall itemize each part of the construction and its associated estimated cost. Tenant shall be obligated for all costs shown on Exhibit “E”. Upon acceptance by Tenant of the budget, Landlord shall construct in accordance with Exhibit “C” all items pertaining to the Tenant Finish, including the obligation to pay for all cost changes not initiated by Tenant.
Construction of Leased Premises. Landlord shall provide a budget prior to the commencement of construction of the Leased Premises (see Exhibit "E"). Landlord shall itemize each part of the construction and its associated estimated cost. Landlord shall pay an amount equal to $955,878.00 ($22.00 per usable square foot multiplied by 43,449 usable square feet) of the cost listed (excluding cost to construct Shell Building) and Tenant shall be obligated for the remaining costs shown on Exhibit "E". Landlord shall not be obligated to pay for any increase in the actual cost of construction over and above the construction costs shown on Exhibit "E". Any special decorator items, equipment, furniture or furnishings not designated on Exhibit "E", as well as changes initiated by the Tenant to the Leased Premises, shall be the sole cost of Tenant and shall include the defined extras on Exhibit "E."
Construction of Leased Premises. The Leased premises shall be constructed by Landlord and Tenant in accordance with the provisions of Exhibit "C" annexed hereto and made a part hereof.
Construction of Leased Premises. (a) The Landlord will complete the work designated as "Landlord's Work" in accordance with the provisions of Schedule "C".
(b) Notwithstanding anything contained in this Section 2.4, the Landlord may upon reasonable notice to the Tenant require the Tenant to perform parts of the Tenant's Work prior to the completion of the Landlord's Work in any case where the nature or state of all work is such that the Landlord considers it necessary or desirable to do so. The Landlord may require that all mechanical and electrical work to be done with respect to the Leased Premises by or on behalf of the Tenant shall be carried out by the Landlord's contractors and employees at the Tenant's cost and expense which is repayable by the Tenant to the Landlord upon demand as Additional Rent.
(c) The Landlord shall give the Tenant at least fifteen (15) days prior written notice of the date upon which possession of the Leased Premises will be available to the Tenant with the Landlord's Work substantially completed or completed to the extent that the Tenant's Work can be performed by the Tenant in conjunction with the Landlord's Work. The Tenant shall, during the Fixturing Period (being the period referred to in Paragraph (b) of the Special Provisions), enter upon and take possession of the Leased Premises for the purpose of completing the Tenant's Work, in common with the Landlord and the Landlord's contractors and employees. During the Fixturing Period, the Tenant shall:
(i) perform the Tenant's Work and cause its employees and contractors to do their work so as not to interfere with the Landlord's contractors and employees in the completion of the Landlord's Work, and
(ii) be bound by all of the terms, covenants and conditions of this Lease (including, without limitation, the payment of all insurance premiums, electricity, water, temporary heat, security, refuse removal and other Utilities and services furnished to the Tenant or its contractors by the Landlord or others and all other Additional Rent, all as estimated by the Landlord, acting reasonably) except those requiring payment of Basic Rent. Upon the expiration of the Fixturing Period, Basic Rent shall be payable in accordance with the terms of this Lease.
(d) If there is a dispute as to (i) completion of the Landlord's Work, or (ii) the availability of the Leased Premises for possession by the Tenant, or (iii) the Usable Area of the Leased Premises, the opinion of the Landlord's Architect will be final and binding.
(e...
Construction of Leased Premises. Landlord shall, at its sole cost and expense, perform the "Work" (as defined in the Construction Provisions) in accordance with the construction provisions attached hereto as Exhibit "B" (the "Construction Provisions").
Construction of Leased Premises. The LANDLORD shall, on or before November 1, 1999, construct the Leased Premises according to the Work Letter Agreement which is attached hereto as Exhibit “C” and made a part hereof. Notwithstanding anything herein to the contrary, all of the improvements constructed pursuant to said Work Agreement shall be fully warranted against any defects for a period of two (2) years from the completion of said construction. Notwithstanding any provision herein to the contrary, the LANDLORD warrants that the Leased Premises meet the requirements of the Americans With Disabilities Act for all portion of the Lease Premises, LANDLORD has constructed throughout the term of this Lease. The LANDLORD shall purchase and maintain throughout the term of any construction of the Leased Premises, Builder’s Risk insurance coverage with an insurance carrier and liability limitations and deductibles acceptable to both parties.
Construction of Leased Premises. Landlord will provide all work and materials to build-out the Leased Premises. Tenant shall, simultaneously with the execution of this Lease, furnish to Landlord the drawings, plans and specifications (hereinafter collectively referred to as the "plans and specs”) with respect to the build-out of the Leased Premises for the approval of Landlord, which plans and specs, along with a listing of the standard Tenant improvements, shall be attached to this Addendum hereto as Exhibit "1", and incorporated herein. No major deviation from the final set of plans and specs, once approved by Landlord, will be made by Tenant without Landlord’s written consent. Tenant will be solely responsible for all costs resulting from any additional work or upgrades not provided for in the standard Tenant improvements. All necessary construction will be commenced promptly, and will proceed in a timely fashion, so as to be completed within ( ) days after the date building permits are issued or ( ) days after this Lease is executed by Landlord and Tenant, whichever is later, and will be ready for use and occupancy by Tenant on the Commencement Date. All construction will be done in a good and workmanlike manner by Landlord or Landlord’s contractors, and will consist of new, first class material, and when completed will comply with applicable laws, ordinances, regulations and orders of the federal, state, county or other governmental authorities having jurisdiction.
Construction of Leased Premises. Landlord shall construct or cause to be constructed the improvements to the Leased Premises (see Exhibit "C -Work Letter"). Landlord shall itemize each part of the construction and its associated cost. Landlord shall pay for $843,000 ($5.00 per rentable square foot) of the cost listed (the "Tenant Allowance") and subject to the provisions of Exhibit "C" including specifically but without limitation Paragraph 3 of Exhibit "C" Tenant shall be responsible for the costs that exceed the Tenant Allowance as shown on Exhibit "E". Any special decorator items, equipment, furniture or furnishings not designated on Exhibit "E", shall be the sole cost of Tenant. The Construction of Leased Premises as designated in this section 2.3, in Exhibit "C", and Exhibit "E", shall be in accordance with the minimum Building standard finishes described in Exhibit "F".