Tenant Allowance. As consideration for the extension of the Lease as provided herein, Landlord shall provide Tenant with an allowance of up to $4.00 PSF (for a total amount of $53,320.00) (the “Allowance”) for improvements and/or alterations to the Premises. In order to receive all or a portion of the Allowance (as provided herein), Tenant shall provide to Landlord reasonable details of the work contemplated by the Tenant for the Premises (hereinafter the “Tenant Improvement Work”) and shall respond to all reasonable inquiries for information requested by Landlord. Landlord shall have twenty (20) days to review and approve such details for the proposed Tenant Improvement Work in its reasonable discretion, such approval not to be unreasonably withheld, conditioned or delayed. Notwithstanding any disapproval or condition related to an adverse impact of Tenant’s Improvement Work to the Building structure or the major systems of the Building shall be deemed reasonable. Failure by Landlord to approve or disapprove such proposed Tenant Improvement Work within the time limits prescribed herein shall constitute approval by Landlord. Landlord and Tenant shall work together in good faith to resolve any disputes or differences that arise in the event Landlord notifies Tenant in a timely fashion of its disapproval of any aspect of such proposed Tenant Improvement Work. In no event shall Tenant be responsible for payment to Landlord or Landlord’s architect or other consultants for costs incurred by Landlord in connection with Landlord’s review of Tenant’s proposed Tenant Improvement Work. Tenant shall be solely responsible for all permits and such other approvals required for the Tenant Improvement Work. Tenant shall cause the work to be completed in a good and workmanlike manner, using new materials, in compliance with law. Upon completion of the Tenant Improvement Work, Tenant shall provide Landlord with detailed as built plans and specifications as well as invoices related to the Tenant Improvement Work (hereinafter the “Tenant Improvement Work Invoices”). Within thirty (30) days of Landlord’s receipt (and reasonable review of the Work) of the Tenant Improvement Work Invoices and the final plans and specifications, Landlord shall pay Tenant the lesser of: # the total amount of the Tenant Improvement Work Invoices, or # the Allowance. For the avoidance of doubt, Tenant shall not be provided a rent credit to the extent that the cost of the Tenant Improvement Work is less than the amount of the Allowance. Tenant shall comply with terms of [Section 6.7] of the Lease in relation to the Tenant Improvement Work.
Tenant Allowance.: Landlord agrees to reimburse Tenant for the TI Costs incurred by Tenant in connection with the Tenant Improvements in an amount not to exceed the Tenant Allowance; provided, however, that Landlord shall retain 5% of the TI Costs for the Tenant Improvements for the cost of Landlord’s construction manager, who shall monitor Tenant’s and its contractors’ performance of the Tenant Improvements. Tenant must, in order to receive the Tenant Allowance, meet all of the following criteria:
Tenant Allowance. “Tenant Allowance” means the amount Landlord shall reimburse Tenant for space planning, designing, engineering and constructing Tenant’s Work up to the maximum amount of one million two hundred nine thousand ninety-four and 20/100 dollars ($1,209,094.20), which shall be disbursed to Tenant in accordance with Exhibit B.
Tenant Allowance. The Tenant Allowance shall be used solely as a contribution towards payment of the costs of designing, engineering and constructing Tenant’s Work, including but not limited to architectural and engineering services, demolition work, physical improvements, permanent construction of floors, walls, finishes and enhancements to the electrical services and air handling / HVAC services. Tenant agrees to pay when due any amounts in excess of the Tenant Allowance as necessary to complete Tenant’s Work or any other leasehold improvements for the operation of Tenant’s business at the Premises. Any unspent Tenant Allowance not able to be used to pay costs for Tenant’s Work shall belong to Landlord. The Tenant Allowance shall be requested to be disbursed by Tenant and all requirements for disbursement satisfied within thirty-six (36) months after the Delivery Date of the Lease, or the portion of the Tenant Allowance not disbursed will be forfeited with no further obligation on the part of Landlord to pay the Tenant Allowance or change the Base Rent.
Tenant Allowance. Subject to the terms and conditions hereof, Landlord agrees to provide to Tenant an allowance equal to $432,060.00 (the “Tenant Allowance”). The Tenant Allowance shall be used and applied by Tenant solely on account of the cost of Tenant's Work. Provided that the Tenant # has opened for business in the Premises, # has completed all of such Tenant's Work in accordance with the terms of this Work Letter, has paid for all of such Tenant's Work in full and has delivered to Landlord lien waivers from all persons who might have a lien as a result of such work in recordable form, # has delivered to Landlord its certificate specifying the total cost of such Tenant's Work and all contractors, subcontractors and suppliers involved with Tenant's Work, together with evidence of such cost in the form of paid invoices, receipts and the like, # has made written request for such payment on or before February 2, 2019, # is not otherwise in default under this Lease beyond the expiration of all applicable notice and cure periods, and # there are no liens against Tenant's interest in the Lease or against the Building or arising out of Tenant's Work or any litigation in which Tenant is a party relating to the Premises, then within thirty (30) days after the satisfaction of the foregoing conditions, the Landlord shall pay to the Tenant the lesser of the amount of such costs so certified or the amount of the Tenant Allowance. Notwithstanding the foregoing, Tenant may elect to request installments of the Tenant Allowance be paid upon completion of phases of the Tenant's Work. Each installment paid by Landlord will be in the amount of Landlord's pro-rata share based on the ratio of the Tenant Allowance to the total cost of Tenant's Work (as evidenced by reasonably detailed documentation delivered to Landlord with the requisition first submitted by Tenant), less a retainage equal to the greater of the retainage set forth in the construction contract or ten percent (10%) of amount due under the construction contract, but in no event shall Landlord be required to pay more than the Tenant Allowance. Any final retainage amounts shall be paid by Landlord following substantial completion of Tenant's Work and satisfaction of the foregoing requirements with respect to a final installment.
Tenant Improvements; Tenant Allowance. Tenant desires to make tenant improvements within the Existing Premises (“Tenant Improvements”). Subject to the terms and conditions of this Eighth Amendment and the Work Letter, attached hereto as Exhibit B, Landlord agrees to reimburse Tenant for the TI Costs incurred by Tenant in connection with the Tenant Improvements in an amount not to exceed $65,120.00 (“Tenant Allowance”). The “TI Costs” shall include all of the following costs: space planning and studies; architectural and engineering fees; permits, approvals and other governmental fees; construction costs, taxes, and all other costs expended or to be expended in connection with the Tenant Improvements, as applicable. Tenant may use up to $32,560.00 of the Tenant Allowance (“FF&E Maximum Amount”) for the installation of Tenant’s telecom/data, furniture, fixtures and equipment for the Premises (as that term is defined in Paragraph 2 above) and moving expenses incurred with respect to the Premises. The FF&E Maximum Amount shall be disbursed to Tenant within ten (10) days after Landlord’s receipt of Tenant’s written request for the same, which request shall be accompanied by an itemization of the costs associated with any such installation of such telecom/data, furniture, fixtures and equipment for the Premises and moving expenses incurred with respect to the Premises, together with paid receipts showing that the requested sums were spent on same.
Tenant Improvement Allowance. Lessee shall be entitled to a one-time tenant improvement allowance in the amount of Two Hundred Thirty-Four Thousand Six Hundred and 00/100 Dollars ($234,600.00) for costs related to the design and construction of tenant improvements in the Premises (the “Tenant Improvement Allowance”) and Lessee shall specify the building address associated with use of the Tenant Improvement Allowance. The Tenant Improvement Allowance must be disbursed in accordance with the terms of this Section 11 no later than the last day of the eighteenth (18th) month following the Extended Term Commencement Date. The construction of all tenant improvements desired by Lessee and constructed with the use of the Tenant Improvement Allowance (“New Tenant Improvements”) shall be performed in accordance with the terms of this Section 11. Lessor shall work with Lessor’s architect and Lessee to develop plans and specifications (“Preliminary Plans”) for the New Tenant Improvements. Within ten (10) days of Lessee’s receipt of the Preliminary Plans for any New Tenant Improvements, Lessee shall provide Lessor with either its consent to the same or reasonably detailed objections thereto. If Lessee provides such objections, Lessor shall revise and re-submit the Preliminary Plans for the New Tenant Improvements and thereafter Lessee shall have five (5) days to consent or provide reasonably detailed objections to the same, and the process shall repeat until Lessee has consented to the Preliminary Plans for the New Tenant Improvements (“Final Plans”). If Lessee shall fail to respond within such five (5) day period, Lessor may send a second written request for approval. Lessee’s failure to respond within five (5) days of such second written request shall be deemed its approval of such Preliminary Plans. Lessor, at Lessee’s sole expense (subject to the Tenant Improvement Allowance), shall cause to be constructed New Tenant Improvements in accordance with the Final Plans. Lessee shall be liable for all fees and costs of the design and construction of any tenant improvements in excess of the Tenant Improvement Allowance (such difference referred to herein as the “Tenant Improvement Shortfall”). Notwithstanding the foregoing, the parties agree that Lessor’s disbursements of the Tenant Improvement Allowance shall be made pari passu with Lessee’s contribution of its own funds towards the costs of constructing the tenant improvements as such costs become due (i.e. in proportion of Tenant Improvement Shortfall payable by Lessee to the Tenant Improvement Allowance). Lessor shall disburse the Tenant Improvement Allowance directly to the applicable design professional, contractor, materialman or other laborer (“Contractor”) in connection with the construction of such tenant improvements upon receipt of paid invoices for work completed, conditional/unconditional lien releases, and other documentation reasonably required by Lessor. For the avoidance of doubt, Lessee may submit to Lessor reimbursement requests from the Tenant Improvement Allowance for work completed prior to the date of this Amendment, provided that # such work was completed by a Contractor approved by Lessor, and # Lessee delivers to Lessor receipt of paid invoices for work completed, conditional/unconditional lien releases, and other documentation reasonably required by Lessor. Lessee shall not be entitled to receive any cash payment or credit against Rent or otherwise for any portion of the Tenant Improvement Allowance which is not used to pay for the construction of the tenant improvements contemplated hereunder.
TENANT IMPROVEMENT ALLOWANCE. Section 5 of the Summary is hereby amended and restated as follows:
Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the “Tenant Improvement Allowance”) in the amount of up to, but not exceeding One Hundred Forty-Five Dollars ($145) per rentable square foot of the Premises (i.e., up to Two Million Two Hundred Fifty-One Thousand Two Hundred Seventy Dollars ($2,251,270), for costs relating to the initial design and construction of Tenant’s improvements which are permanently affixed to the Premises (the “Tenant Improvements”), which costs may include the cost of an inspection and report covering the Premises by a Certified Access Inspection specialist provided
Tenant Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance in an amount not to exceed Two Hundred Thousand Dollars ($200,000.00) (the “Tenant Improvement Allowance”), for the following items only, each of which shall be constructed by Landlord: # creation of exterior patio/seating area off of the main first floor break room of the Premises, to maximize employees’ indoor/outdoor amenities; # construction of two additional showers in the locker room (for a total of four total showers); and # the second floor bathroom expansion. These items are shown on the Space Plan, but their cost is subject to the provisions in this paragraph. If Landlord’s overall cost to install these items exceeds
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