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Payment for Improvements
Payment for Improvements contract clause examples
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Payment for Improvements. With respect to payments to be made to Tenant's contractors for any Alterations, Tenant shall # comply with statutory requirements for final lien releases and waivers in connection with Tenant's payment for work to contractors, and # sign Landlord's standard contractor's rules and regulations. In addition, in connection with all Alterations other than Cosmetic Alterations, Tenant shall pay Landlord an oversight fee equal to three percent (3%) of the cost of up to $500,000 of the work (and for any costs in excess of $500,000, a fee equal to one and one-half percent (1.5%) of the cost of the work), and reimburse Landlord for Landlord's reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord's review of such work.

Payment for Improvements. In connection with any Alterations that affect the Building systems (other than minor changes such as adding or relocating electrical outlets and thermostats), or that have a cost in excess of $100,000, , Tenant shall reimburse Landlord for Landlord's reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord's review of such work.

Payment for Improvements. With respect to payments to be made to Tenant's contractors for any Alterations, Tenant shall # comply with Landlord's requirements for final lien releases and waivers in connection with Tenant's payment for work to contractors, and # sign Landlord's standard contractor's rules and regulations. In addition, in connection with all Alterations other than Cosmetic Alterations, Tenant shall pay to Landlord a percentage of the cost of such work sufficient to compensate Landlord for all overhead, general conditions, fees and other costs and expenses arising from Landlord's involvement with such work not to exceed one percent (1%) of the hard costs of such Alterations.

Payment for Improvements. If Tenant requests that any Alterations be completed by Landlord, and Landlord agrees, Tenant shall pay to Landlord an amount equal to five percent (5%) of the hard cost of such work to compensate Landlord for all overhead, general conditions, fees and other costs and expenses arising from Landlord's involvement with such work. If Tenant does not order any work directly from Landlord, Tenant shall reimburse Landlord for Landlord's reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord's review of such work.

Payment for Improvements. With respect to payments to be made to Tenant's contractors for any Alterations, Tenant shall # comply with Landlord's requirements for final lien releases and waivers in connection with Tenant's payment for work to contractors, and # sign Landlord's standard contractor's rules and regulations. In addition, in connection with all Alterations, Tenant shall pay Landlord an oversight fee equal to five percent (5%) of the cost of the work, and reimburse Landlord for Landlord's reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord's review of such work.

Payment for Improvements. With respect to payments to be made to Tenant's contractors for any Alterations, Tenant shall # comply with Landlord's requirements for final lien releases and waivers in connection with Tenant's payment for work to contractors, and # sign Landlord's standard contractor's rules and regulations. If Tenant orders any work directly from Landlord, Tenant shall pay Landlord an oversight fee equal to three percent (3%) of the cost of the work to compensate Landlord for all overhead, general conditions, fees and other costs and expenses arising from Landlord's involvement with such work. If Tenant does not order any work directly from Landlord, Tenant shall reimburse Landlord for Landlord's reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord's review of such work to the extent the same do not exceed three percent (3%) of the cost of such work.

Payment for Improvements. In connection with any Alterations that affect the Building systems (other than minor changes such as adding or relocating electrical outlets and thermostats), or which have a cost in excess of $100,000, Tenant shall reimburse Landlord for Landlord's reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord's review of such work.

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant shall obtain 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 (the “Budget”), and deliver a copy of the Budget to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord. The Budget shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to ​ for monitoring and inspecting the construction of the Tenant Improvements, which sum shall be payable from the TI Fund.

Advance for Capital Improvements. Contemporaneously herewith, Lessor has funded the aggregate amount of Seventy-Five Million and No/100 Dollars ($75,000,000.00) (the “Funding Amount”) to Lessee for anticipated Capital Additions (and other improvements and renovations) to the Tenet Properties, which, upon completion in each case, shall be deemed Capital Additions funded by Lessor for all purposes under the Master Lease. From and after the Effective Date, the Funding Amount shall accrue interest at Three Percent (3%) per annum and, upon completion of such Capital Additions (and other improvements and renovations), such portions of the Funding Amount utilized in respect thereof shall be added (together with accrued interest) to the Allocated Lease Base for the applicable Tenet Property. Lessee shall utilize the entire Funding Amount for such Capital Additions (and other improvements and renovations) as soon as reasonably practicable, but in no event later than August 31, 2024. If any portion of the Funding Amount has not been utilized for such Capital Additions (and other improvements and renovations) by August 31, 2024, then Lessee shall repay to Lessor such unused Funding Amount with accrued interest through August 31, 2024. Lessee shall complete all Capital Additions (and other improvements and renovations) pursuant to the applicable provisions of Articles IX and X hereof and shall provide periodic written updates no less frequently than monthly to Lessor with respect to the status thereof and the corresponding use of the Funding Amount.

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, the parties shall agree on a Budget pursuant to Section 2(c) of this Work Letter; provided, however, Tenant shall not be responsible for the following costs: # premiums for payment, performance, mechanics’ lien, completion, and other bonds; # costs that provide for or result in # a general contractor’s fee in excess of the amount permitted pursuant to [Schedule 4], # a contingency line item under the general contractor’s contract in excess of the amount permitted pursuant to [Schedule 4] (unless such costs are the result of a Change, reference being made to Section 4(a) for the delivery of estimates of such costs), or # an allocation for the general contractor’s general conditions in excess of the amount permitted pursuant to [Schedule 4]; # costs incurred to remove, remediate, or abate ACMs, PACMs, lead paint, and other Hazardous Materials; # loan fees, mortgage brokerage fees, interest and

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