Allowance. In consideration of Tenant's extension of the Term of the Lease and the modifications and restatements contained in the First Amendment, Tenant is entitled to an allowance (the “Extension Allowance”) in the amount of , to be paid by Landlord to Tenant by wire transfer of immediately available funds on or about the Net Rent Effective Date; provided, however, that payment of the Extension Allowance may be postponed by Landlord for up to three (3) months after the Net Rent Effective Date, without default. In consideration of this right to postpone payment, Landlord agrees to a reduction in Basic Rent in the amount of for each month in which payment in full of the Extension Allowance is delayed, prorated weekly in accordance with [Schedule 11(a)] attached. The reduction of Basic Rent shall be calculated monthly in arrears so that, by way of example, if the Extension Allowance is paid to Tenant on April 15, Tenant shall be entitled to rent reduction in the amount of (2 weeks' Basic Rent reduction), to be applied against Basic Rent coming due in ;, if the Extension Allowance is paid to Tenant on April 22, Tenant shall be entitled to rent reduction in the total amount of (3 week's Basic Rent reduction), to be applied against Basic Rent coming due in .
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.
Expense Allowance. The Company shall pay directly, or advance funds to Executive or reimburse Executive for, all expenses reasonably incurred by him in connection with the performance of his duties as an employee or consultant hereunder, upon the submission to the Company of itemized expense reports, receipts or vouchers in accordance with its then customary policies and practices.
Severance Allowance. Provided the Employee timely executes, returns, and does not revoke this Agreement and continues to provide services to the Company up to and including the Termination Date (also referred to in this Agreement as a “Separation Date”), the Company shall provide the following consideration:
Severance Allowance. The Company shall provide Employee [the applicable Severance Benefits described in [Section 4.1] of the Executive Severance Plan, as amended], subject to such deductions as required by law including, if applicable, repayment of the pay advance made to Employee on or about , that is not deducted from other amounts paid or payable to Employee.
Expense Allowance. Out of the proceeds of each Closing, the Company also agrees to pay Wainwright # for non-accountable expenses (to be increased to in case of a public Offering); # up to for fees and expenses of legal counsel and other out-of-pocket expenses (to be increased to in case of a public Offering); plus the additional amount payable by the Company pursuant to Paragraph D.3 hereunder and, if applicable, the costs associated with the use of a third-party electronic road show service (such as NetRoadshow); provided, however, that such amount in no way limits or impairs the indemnification and contribution provisions of this Agreement.
Automobile Allowance. Executive shall be provided an Automobile Allowance of per month. The allowance shall be used at Executive’s discretion toward the purchase/lease of a vehicle of Executive’s choice. Executive understands that the allowance will be treated as taxable income and will be paid regardless of the amount of Executive’s monthly automobile payment.
Housing Allowance. The Bank will pay the reasonable costs and expenses of temporary housing for Executive in the metropolitan area for 90 days following the Effective Date. If on or before the first anniversary of the Effective Date Executive terminates his or her employment hereunder (other than for Good Reason) or the Bank terminates Executive’s employment for Cause, Executive must promptly repay the Bank in full for the amount of such temporary housing allowance actually paid or reimbursed by the Bank.
Notwithstanding anything to the contrary herein contained: # Landlord shall have no obligation to advance funds on account of the ES Allowance # until Landlord shall have received an original W-9 executed by Tenant, nor # more than once per month; # If Tenant fails to pay to Tenant’s contractors the amounts paid by Landlord to Tenant in connection with any previous requisition(s), Landlord shall thereafter have the right to have the ES Allowance paid directly to Tenant's contractors; # Landlord shall have no obligation to pay any portion of the ES Allowance with respect to any requisition submitted after the date (the “Outside ES Requisition Date”) which is fifteen (15) months after the ES Commencement Date provided however, to the extent that the completion of Tenant’s ES Fitout is delayed by reason of a Landlord Delay, the Outside ES Requisition Date shall be extended by the period of time which Tenant is so delayed; # Tenant shall not be entitled to any unused portion of the ES Allowance; # Landlord’s obligation to pay any portion of the ES Allowance shall be conditioned upon there existing no default by Tenant in its obligations under the Lease at the time that Landlord would otherwise be required to make such payment (it being understood and agreed that if Tenant cures such default prior to the expiration of the notice and/or cure periods set forth in [Section 20.1] of the Lease, Landlord shall make such payment promptly after the cure is effectuated); and # In addition to all other requirements hereof, Landlord’s obligation to pay the final ten percent (10%) of the ES Allowance shall be subject to simultaneous delivery of all unconditional lien waivers relating to items, services and work performed in connection with Tenant’s ES Fitout.
Landlord and Tenant have agreed to amend the Lease with respect to payment of the Extension Allowance, subject to the terms and conditions of this Amendment.
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