Example ContractsClausestenant allowanceVariants
Tenant Allowance
Tenant Allowance contract clause examples

Tenant Parking Allowance. If the Parking Costs exceed an amount equal to the sum of # Tenant’s Initial Parking Contribution, plus # Landlord’s Parking Contribution (if any), then Landlord shall use and apply the Available Landlord Contribution (if any) and the Available Additional 2nd Floor Premises Allowance (if any) (each as hereinafter defined) solely on account of such remaining balance of the Parking Costs if and to the extent such costs are attributable to Option A Work, subject to the terms and conditions set forth in this Section 7(c). For the avoidance of doubt, the parties acknowledge and agree that in no event shall any portion of the Available Landlord Contribution or the Available Additional 2nd Floor Premises Allowance be applied towards any Parking Costs that are attributable to the cost of Option B Work.

The Available Landlord’s Contribution and the Available Additional 2nd Floor Premises Allowance are hereinafter collectively referred to as the “Parking Allowance.” Landlord shall be under no obligation to apply any portion of the Parking Allowance for any purposes other than as provided in this Section 7(c). In addition, in the event that # Tenant is in default under the Lease or # there are any liens which are not bonded to the reasonable satisfaction of Landlord against Tenant’s interest in the Lease or against the Building or the Site arising out of any work performed by Tenant (it being acknowledge and agreed for these purposes that the Selected Parking Work being performed by Landlord shall not be considered “work performed by Tenant”) or any litigation in which Tenant is a party and which would result in a lien against Landlord’s or Tenant’s interest in the Lease or the Building, then, from and after the date of such event (“Event”), from and after the date of such Event, Landlord shall have no further obligation to fund any portion of the Parking Allowance and Tenant shall be obligated to pay, as Additional Rent, all remaining Parking Costs in excess of that portion of the Parking Allowance applied by Landlord through the date of the Event, subject to reimbursement by Landlord after the condition giving rise to the Event has been cured or otherwise rectified to Landlord’s reasonable satisfaction. Further, the Parking Allowance shall only be applied towards the Parking Costs attributable to Option A Work and in no event shall Landlord be required to make application of any portion of the Parking Allowance towards Tenant’s personal property, trade fixtures or moving expenses or on account of any supervisory fees, overhead, management fees or other payments to Tenant, or any partner or affiliate of Tenant. In the event that the remaining balance of the Parking Costs after the application of # Tenant’s Initial Parking Contribution, and # Landlord’s Parking Contribution

Pursuant to Section 5(B) of the First Amendment, Landlord agreed to provide to Tenant a certain Additional 2nd Floor Premises Tenant Allowance (as defined in the First Amendment) to be used and applied by Tenant towards the total costs of the Tenant’s Additional 2nd Floor Premises Work (as defined in the First Amendment). Landlord shall use and apply any unused portion of the Additional 2nd Floor Premises Tenant Allowance (any such unused portion, hereinafter referred to as the “Available Additional 2nd Floor Premises Allowance”) solely on account of Parking Costs that are attributable to Option A Work; provided, however, that # the Available Additional 2nd Floor Premises Tenant Allowance applied towards the cost of such Parking Costs shall be applied in accordance with and subject to the requirements of [Section 7(c)(iii), (ii)])] in no event shall the aggregate total of the Additional 2nd Floor Premises Tenant Allowance provided by Landlord to Tenant on account of the Tenant’s Additional 2nd Floor Premises Work and such Parking Costs exceed One Million Three Hundred Thirty-Seven Thousand Eight Hundred Sixteen and 16/100 Dollars ($1,337,816.16), and # in no event shall the aggregate amount of the Additional 2nd Floor Premises Tenant Allowance provided by Landlord to Tenant on account of the Tenant’s Additional 2nd Floor Premises Work and such Parking Costs that may be applied towards soft costs for architectural and engineering fees exceed Two Hundred Eighty-Six Thousand Six Hundred Sixty and 00/100 Dollars ($286,660.00).

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