Tenant Improvements Defined. As used herein, Tenant Improvements shall mean all improvements to the Premises of a fixed and permanent nature as shown on the Tl Construction Drawings, as defined in [Section 2(c)] below. Other than Landlords Work (as defined in [Section 3(a)] below), Landlord shall not have any obligation whatsoever with respect to the finishing of the Premises for Tenants use and occupancy. Landlord and Tenant acknowledge and agree that a portion of the Premises, as reflected in the Space Plan, will not be improved as part of the Tenant Improvements as Tenant has indicated that it does not require that such portion of the Premises be improved in connection with its operations in the Premises. Upon request from Tenant, Landlord shall provide Tenant with notice of planned meetings regarding the design and construction of the tenant improvements. Tenant shall have a right to have a representative present for all design and construction meetings relating to the Tenant Improvements.
Budget. Before the commencement of construction of the Tenant Improvements, Tenant shall deliver to Landlord a detailed breakdown by trade of the costs incurred or that will be incurred in connection with the design and construction of the Tenant Improvements and the estimated payment schedule for such costs, which Tenant shall update at least monthly (the most recent such budget, the Budget).
Ownership of Tenant Improvements. The Tenant Improvements (including, but not limited to, all partitioning, window and wall coverings, and plumbing, lighting, electrical, and HVAC fixtures installed by Tenant) shall be deemed, effective upon installation, to be a part of the Premises and the Building and shall be deemed to be the property of Landlord (subject to Tenants right to use the same during the Term of the Lease), and shall be surrendered at the expiration or earlier termination of the Term, unless Landlord shall have reasonably conditioned its approval of the Final Working Drawings or any Plan Modification pursuant to [[Section 2.2.1 or 2.2.6]6]]6], as applicable, on Tenants agreement to remove any items thereof. The removal of such items and the restoration and repair work described above shall be paid for and performed in accordance with the provisions of Paragraph 36 of the Lease.
Cost of Tenant Improvements. The cost of the design, construction and installation of the Tenant Improvements shall be borne as follows:
Budget. The Project Budget accurately reflects all Total Project Related Costs. Upon the making of the Additional Advances requested in ’s Advance Request in the manner set forth therein, all materials and labor theretofore supplied or performed in connection with the Property will have been paid for in full (subject to the Retainage).
Budget. As soon as available and in any event within 65 days after the beginning of the Borrowers fiscal years, the Borrower will deliver a Budget of the Borrower and its consolidated Subsidiaries for such fiscal year.
The construction in the Expansion Premises shall be performed in accordance with [Exhibit D] attached to the Lease as if references to the Premises therein were references to the Expansion Premises. Landlord shall oversee and manage the construction of the Tenant Improvements to the 6,282 rentable square feet in the Expansion Premises utilizing the general contractor selected solely at Tenants discretion as provided for in [Exhibit D] to the Lease and in compliance with the Final Plans (as defined in [Exhibit D]), in accordance with, and subject to, the terms and conditions of the Tenant Improvement Letter attached to the Lease as [Exhibit D]. Landlords construction shall not include any personal property, furniture, fixtures and equipment of Tenant.
Tenant Lobby Furnishings. Tenant may notify Landlord in writing, on or before , if Tenant elects to include any of the lobby reception desk, furniture or furnishings within the Tenant Improvements and exclude any of the foregoing items from the Base Building Improvements (Tenant Takeover Lobby Furnishings). If Tenant elects to provide or construct any Tenant Takeover Lobby Furnishings as part of the Tenant Improvements, Landlord shall provide an allowance (in addition to the Tenant Improvement Allowance) to fully reimburse Tenant for its costs incurred in connection with the Tenant Takeover Lobby Furnishings in an amount equal to the corresponding costs of such items included in Landlords budget for the Base Building Improvements (Additional Lobby Allowance). Such Tenant Takeover Lobby Furnishings shall be included in the Preliminary Plans and Final Working Drawings, as and to the extent applicable, submitted to Landlord for approval pursuant to [Section 2.2] and the disbursement of the Additional Lobby Allowance shall be subject to the same conditions set forth in [Section 6.5] with respect to the disbursement of the Tenant Improvement Allowance
Improvements. WuXi ATU shall own all right, title, and interest in any Improvements in WuXi ATU Property that is generally applicable for the manufacture and testing of biological products and does not specifically rely upon Graphite Property.
Improvements. Subtenant shall use the Subleased Premises in its current configuration as of the Commencement Date, and shall not have the right to make any substantial alterations or improvements to the Subleased Premises without Sublandlord’s prior written consent. To the extent Sublandlord permits any such alterations or improvements, such alterations shall be in accordance with the Master Lease, and shall be made only with the prior written consent of both Master Landlord and Sublandlord. Notwithstanding the foregoing, subject to Master Landlord’s consent and Sublandlord’s review of final detailed plans, Subtenant may perform (in compliance with the terms of [Section 8] of the Master Lease, as incorporated herein) and surrender at the end of the Term, the alterations described in [Exhibit D] hereto, at Subtenant’s sole cost and expense.
Tenant Improvements, Alterations and Personal Property. In the event of any damage or destruction of the Premises or the Building, under no circumstances shall Landlord be required to repair any injury or damage to, or make any repairs to or replacements of, Tenant Improvements, Alterations or Tenants equipment, furniture, furnishings, trade fixtures or personal property.
Budget; Projections. Prior to the consummation of a Qualifying IPO, within ninety days after the end of each fiscal year (commencing with the first fiscal year ending after the Closing Date), a consolidated budget for the following fiscal year on a quarterly basis as customarily prepared by management of the for its internal use and setting forth the material underlying assumptions based on which such consolidated budget was prepared (including any projected consolidated balance sheet of the and its Restricted Subsidiaries as of the end of the following fiscal year and the related condensed consolidated statements of projected operations or income (loss) and projected cash flow, in each case, to the extent prepared by management of the and included in such consolidated budget, which projected financial statements shall be prepared in good faith on the basis of assumptions believed to be reasonable at the time of preparation of such projected financial statements).
Annual Budget. The Parties acknowledge and agree that [Exhibit A] reflects the Annual Budget for the balance of 2016. Crestwood Midstream shall use its Best Efforts to submit to Newco a proposed Annual Budget for each subsequent Fiscal Year on or before September 15 of the preceding year. Each proposed Annual Budget shall include such supporting documentation and data as reasonably requested by Newco and be in a form established or approved by Newco from time to time. Such forms shall contain the types of information included in prior Annual Budgets and reflect substantially similar methodologies to those used in the preparation of such prior Annual Budgets. Each Annual Budget shall itemize the expected costs and expenses Crestwood Midstream anticipates will be required to be incurred in providing the Services by individual line items in accordance with the procedures set forth in [Schedule 5.01(a)] (the Accounting Procedures).
Tenant Funds. Any additional funds required to complete the cost of the work, that are in excess of or elected by the Tenant to be used in place of the Tenant Improvement Allowance and the Additional TI Allowance, shall be considered "Tenant Funds." The total cost to construct the Tenant Improvements as managed by Landlord and the Project Manager under this Work Letter shall be the "Project Budget." Landlord understands that at the time of the agreed upon Guaranteed Maximum Price (GMP), the Tenant Funds amount is an estimate and exact costs will not be known until project closeout. Tenant is required, at the time of agreement of the GMP, to provide a purchase order to the Landlord for the full estimated amount of the Tenant Funds. In the event the Tenant Funds at project closeout are less than the amount agreed upon within the Project Budget, Landlord will only bill Tenant for the Tenant Funds that have been utilized. In the event the Tenant Funds exceed the amount agreed upon within the Project Budget, through added scope changes, the Tenant shall provide additional purchases orders to the Landlord, which will be included in the Tenant Change Request process that the Landlord’s representative administers.
Coordination. Prior to the commencement of construction of the Tenant Improvements, Landlord and Tenant shall hold monthly meetings at a reasonable time to be agreed upon by Landlord and Tenant regarding the progress of the Base Building Improvements and the progress of the design of the Tenant Improvements. Tenant shall obtain independent bids or proposals for construction of the Tenant Improvements from at least three (3) general contractors approved by
The purpose of this Agreement is to set forth the respective responsibilities of Landlord and Tenant with respect to (a) Landlords completion of the Base Building Improvements (as defined in [Section 1.1] below) and (b) the design and construction of all alterations, additions and improvements that Tenant may deem necessary or appropriate to prepare the Premises for initial occupancy by Tenant under the Lease. Such alterations, additions and improvements to the Premises (other than the Base Building Improvements) are referred to in this Agreement as the Tenant Improvements, and the work of constructing the Tenant Improvements is referred to as the Tenant Improvement Work.
EXHIBIT # -1- (k) Tenant Improvements: The improvements to or within the Building shown on the Approved TI Plans from time to time and to be constructed by Landlord pursuant to the Lease and this Tenant Work Letter. The term "Tenant Improvements" does not include the improvements existing in the Building and Premises on the Effective Date.
To the extent that the total projected cost of the Tenant Improvements (as projected or approved by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant Improvements on a pari passu basis with Landlord as such costs are paid, in the proportion of such Excess TI Costs payable by Tenant to the TI Allowance payable by Landlord. If the entire Excess TI Costs advanced by Tenant to Landlord are not applied toward the costs of the Tenant Improvements, then Landlord shall promptly return such excess to Tenant following completion of all of the Tenant Improvements.
All Tenant Improvements shall be constructed of Landlords standard building materials. Otherwise, Premises shall be delivered to Tenant in As-Is conditions. Any additional Tenant Improvements shall be at the sole cost of the Tenant and only permissible with prior written consent by Landlord.
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