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.
Landlord and Tenant acknowledge that Tenant has been occupying the Premises pursuant to the Lease. Except as specifically set forth herein, Landlord shall not be obligated to construct or install any improvements or facilities of any kind in the Premises, and Tenant shall continue to accept the Premises in its currently-existing, "as-is" condition. Notwithstanding the foregoing, Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") equal to $739,450.00 (i.e., approximately $10.00 per rentable square feet of the Original Premises) for the costs relating to the design and construction of Tenant's improvements which are permanently affixed to the Original Premises (the “Tenant Improvements”). The Tenant Improvement Allowance will be disbursed in accordance with Landlord's standard disbursement procedures, including, without limitation, following Landlord's receipt of (i) evidence (i.e., invoices or other documentation reasonably satisfactory to Landlord) of payment for the Tenant Improvements, and (ii) fully executed, unconditional lien releases from all contractors, subcontractors, laborers, materialmen, and suppliers used by Tenant in connection with the Tenant Improvements. The Tenant Improvements shall be constructed in accordance with the terms and conditions of Article 9 of the Original Lease. In no event shall Landlord be obligated to disburse any portion of the Tenant Improvement Allowance subsequent to the date which is twelve (12) months following the Effective Date, nor shall Landlord be obligated to disburse any amount in excess of the Tenant Improvement Allowance in connection with the construction of the Tenant Improvements. No portion of the Tenant Improvement Allowance, if any, remaining after the construction of the Tenant Improvements shall be available for use by Tenant.
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 Two Hundred Thirty Dollars ($230.00) per rentable square foot of the Premises (i.e., up to Five Million, Four Hundred Fifty Thousand, Eighty Dollars ($5,450,080.00), for the costs relating to the initial design and construction of Tenant’s improvements which are permanently affixed to the Premises, including without limitation, power distribution (the “Tenant Improvements”); provided, however, Landlord shall have no obligation to disburse all or any portion of the Tenant Improvement Allowance to Tenant unless Tenant makes one or more requests for disbursement pursuant to the terms and conditions of Section 2.2 below prior to the second anniversary of the Delivery Date. In addition, Tenant shall, by written notice given to Landlord (the “Allowance Increase Notice”) given no later than thirty (30) days after the Final Costs are determined in accordance with Section 4.2.1 below, have the one-time right to increase the amount of the Tenant Improvement Allowance by an amount not to exceed Five Hundred Ninety-Two Thousand, Four Hundred Dollars ($592,400.00) (i.e., $25.00 per rentable square foot of the Premises) (the “Additional Allowance”). The Additional Allowance, if and to the extent elected by Tenant, shall be added to the Tenant Improvement Allowance and used on the terms and conditions set forth herein with respect to the Tenant Improvement Allowance (and the
Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance ("Tenant Improvement Allowance") in the amount of One Million Six Hundred Thirty-One Thousand Nine Hundred Thirty and No/100 Dollars ($1,631,930.00) for the cost relating to the initial design and the actual cost of constructing certain interior improvements which are permanently affixed to the Premises and approved in advance by Landlord ("Tenant Improvements"). Notwithstanding anything to the contrary contained in this Tenant Work Letter, in no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance, and in no event shall Tenant be entitled to any portion of the Tenant Improvement Allowance not requested by Tenant (in accordance with the terms and conditions of this Work Letter) on or prior to the date that is months following the Commencement Date.
Improvements. Except as specifically set forth herein, Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Premises, and Tenant shall continue to accept the Premises in its presently existing, "as-is" condition. Notwithstanding the foregoing, with respect to the Premises Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") equal to $200,000.00 for the costs relating to the design and construction of Tenant's improvements which are permanently affixed to the Premises (the “Tenant Improvements”). The Tenant Improvement Allowance will be disbursed in accordance with Landlord's standard disbursement procedures, including, without limitation, following Landlord's receipt of # evidence (i.e., invoices or other documentation reasonably satisfactory to Landlord) of payment for the Tenant Improvements, and # fully executed, unconditional lien releases from all contractors, subcontractors, laborers, materialmen, and suppliers used by Tenant in connection with the Tenant Improvements. The Tenant Improvements shall be constructed in accordance with the terms and conditions of Section 9 of the Original Lease, except that Tenant may use non-union labor in connection with the Tenant Improvements. In no event shall Landlord be obligated to disburse any portion of the Tenant Improvement Allowance subsequent to December 31, 2019, nor shall Landlord be obligated to disburse any amount in excess of the Tenant Improvement Allowance in connection with the construction of the Tenant Improvements. No portion of the Tenant Improvement Allowance, if any, remaining after the construction of the Tenant Improvements shall be available for use by Tenant.
Pursuant to the terms hereof, Landlord shall pay to Tenant an amount not to exceed Two Million Two Hundred Fifty Thousand Four Hundred Eighty-Seven and 50/100 Dollars ($2,250,487.50) (the “Tenant Improvement Allowance”), calculated at the rate of Twelve and 50/100 Dollars ($12.50) per rentable square foot of the Premises, which shall be applied towards the cost of Tenant’s improvements to the Premises (the “Tenant Improvements”). The use of the term “Premises” in this Section 2.6 shall refer to the Current Premises, as expanded to include the Expansion Space, notwithstanding that the Expansion Space Commencement Date may not yet have occurred. The Tenant Improvement Allowance shall be payable solely on account of labor directly related to Tenant Improvements and materials delivered to the Premises in connection with the Tenant Improvements; provided, however, a portion of the Tenant Improvement Allowance of up to but not more than $450,097.50 (i.e., $2.50 per rentable square foot of the Premises) may be applied against architectural and engineering fees, construction management fees, telephone wiring and computer cabling costs, other telephone and data costs, costs of furniture, fixtures and equipment and other so-called “soft costs” incurred by Tenant in connection with the Tenant Improvements. Excepting only the alterations depicted on Exhibit B attached hereto (the “Approved Tenant Improvements”), the Tenant Improvement Allowance shall not be applied towards the costs of exterior alterations, alterations outside of the Premises, alterations (excepting only cosmetic alterations) to the current configuration of the demising walls that separate the Fourth Expansion Premises from the remainder of the Premises, or alterations to the common areas of the Property unless, in each case, Tenant has obtained Landlord’s prior consent, which consent shall not be unreasonably withheld or delayed. Following the effectiveness of this Amendment pursuant to Section 6.3 hereof, Landlord shall disburse the Tenant Improvement Allowance funds to Tenant for the costs and expenses of Tenant Improvements incurred by Tenant pursuant to Section 2.6 hereof if no Event of Default (which has not been cured after the giving of any required notice and expiration of any applicable period of grace) then exists; provided however, upon the occurrence of an Event of Default the obligation of Landlord to fund the Tenant Improvement Allowance shall be suspended and tolled during the pendency of such Event of Default, and if, as and when said Event of Default is cured by Tenant in accordance with the terms and conditions of the Lease, then said suspension shall cease and said obligation shall resume, in accordance with and subject to all of the terms and conditions of this Section 2.6.
Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance in the amount of up to, but not exceeding One Hundred Dollars ($100.00) per rentable square foot of the Expansion Premises (the “Expansion Premises Allowance”) and Thirty Dollars ($30.00) per rentable square foot of the Existing Premises (together with the Expansion Premises Allowance, the “Tenant Improvement Allowance”). The Tenant Improvement Allowance shall be used for the costs relating to the design, permitting and construction of Tenant’s improvements which are permanently affixed to the Premises (the “Tenant Improvements”); provided, however, that Landlord shall have no obligation to disburse all or any portion of the Tenant Improvement Allowance to Tenant unless Tenant makes a request for disbursement pursuant to the terms and conditions of Section 2.2 below prior to April 30, 2020. The Expansion Premises Allowance shall only be used for the costs relating to the Tenant Improvements in the Expansion Premises. The Existing Premises Allowance may be used for the costs relating to the Tenant Improvements in the Existing Premises and/or the Expansion Premises, in Tenant’s sole discretion. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in a total amount which exceeds the Tenant Improvement Allowance. Tenant shall not be entitled to receive any cash payment or credit against Rent or otherwise for any unused portion of the Tenant Improvement Allowance which is not used to pay for the Tenant Improvement Allowance Items (as such term is defined below).
Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 5 of the Summary for the costs relating to the initial design and construction of Tenant's improvements (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance. In the event that the Tenant Improvement Allowance is not fully utilized by Tenant on or before the date that occurs eighteen (18) months following the Lease Commencement Date (as deadline date may be extended by Force Majeure and/or Landlord Delay occurring after the Lease Commencement Date), then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any riser cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease. Tenant shall not be required to remove any Tenant Improvements upon Tenant’s surrender of the Premises.
Tenant Improvement Allowance. Landlord shall, as set forth below, contribute up to Eighty-Six Thousand, Four Hundred Ninety Dollars ($86,490.00) (i.e., $5.00 per rentable square foot of the Premises) (“Tenant’s Improvement Allowance”) towards the cost of the initial leasehold improvements to be installed by Tenant in the Premises (“Tenant’s Work”). Tenant’s Work shall be performed in accordance with Articles 12 and 13 hereof. If Tenant’s Improvement Allowance will not be sufficient to complete Tenant’s Work, Tenant shall pay the excess costs, prior to Landlord’s disbursing Tenant’s Improvement Allowance to Tenant.
Tenant Improvement Allowance. Subject to any restrictions, conditions or limitations expressly set forth in this Tenant Work Letter or in the Lease or as otherwise expressly provided by mutual written agreement of Landlord and Tenant, the cost of construction of the Tenant Improvements shall be paid or reimbursed by Landlord up to a maximum amount equal to $125.00 per rentable square foot of the Premises (i.e., $7,831,875.00 based upon 62,655 rentable square feet in the Premises) (the "Tenant Improvement Allowance"), which amount is being made available by Landlord to be applied towards the Cost of Improvements for the construction of the Tenant Improvements in the Premises, less any reduction in or charge against such amount pursuant to any applicable provisions of this Tenant Work Letter. Tenant shall be responsible, at its sole cost and expense, for payment of the entire Cost of Improvements of the Tenant Improvements in excess of the Tenant Improvement Allowance (such excess amount is referred to herein as the "Tenant Funds Amount", including (but not limited to) any costs or cost increases incurred as a result of delays (unless caused by Landlord), governmental requirements or unanticipated conditions (unless caused by Landlord), and for payment of any and all costs and expenses relating to any alterations, additions, improvements, furniture, furnishings, equipment, fixtures and personal property items which are not eligible for application of Tenant Improvement Allowance funds under the restrictions expressly set forth below in this paragraph, but Tenant shall be entitled to use or apply the entire Tenant Improvement Allowance toward the Cost of Improvements of the Tenant Improvements (subject to any applicable restrictions, conditions, limitations, reductions or charges set forth in the Lease or in this Tenant Work Letter) prior to being required to expend any of Tenant’s own funds for the Tenant Improvements. The funding of the Tenant Improvement Allowance shall be made on a monthly basis or at other convenient intervals mutually approved by Landlord and Tenant and in all other respects shall be based on such commercially reasonable disbursement conditions and procedures as Landlord, Project Manager and Landlord’s lender (if any) may reasonably prescribe. Notwithstanding the foregoing provisions, under no circumstances shall the Tenant Improvement Allowance or any portion thereof be used or useable by Tenant for any moving or relocation expenses of Tenant, or for any Cost of Improvement (or any other cost or expense) associated with any moveable furniture or trade fixtures, personal property or any other item or element which, under the applicable provisions of the Lease, will not become Landlord’s property and remain with the Building upon expiration or termination of the Lease.
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