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Tenant Improvements
Tenant Improvements contract clause examples
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Tenant Improvements. Tenant shall be responsible for constructing all improvements in the Expansion Space as required to allow Tenant to use the Expansion Space for Tenant’s Use (the “Expansion Space Improvements”). All Expansion Space Improvements shall be constructed pursuant to plans and specifications reasonably approved by Landlord by a contractor selected by Tenant and reasonably approved by Landlord. Tenant shall not commence construction of the Expansion Space Improvements until the Expansion Date. Landlord shall provide an allowance of Eighty Seven Thousand Five Hundred Forty and No/100 ($87,540.00) (the “Expansion Space Improvement Allowance”) to be used by Tenant for the hard and soft costs of the Expansion Space Improvements. Upon receipt of invoices from Tenant, Landlord shall reimburse Tenant monthly from the Expansion Space Improvement Allowance for Tenant’s costs associated with the Expansion Space Improvements.

Tenant Improvements. Tenant shall construct, furnish or install all improvements, equipment or fixtures, that are necessary for Tenant’s use and occupancy of the Leased Premises (collectively, the “Tenant Improvements”). Tenant shall complete construction of the Tenant Improvements for the Leased Premises. Tenant will engage a consultant reasonably approved by Landlord to manage the design and construction of the Tenant Improvements (“Tenant Improvement Project Manager”). Tenant shall cause all drawings and specifications for the Tenant Improvements to be prepared by an architect selected by Tenant and reasonably approved by Landlord (“Tenant Improvement Architect”) and to be constructed by a general contractor licensed in California, selected by Tenant, and reasonably approved by Landlord (“Tenant Improvement Contractor”). Landlord’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed, shall be required if Tenant desires to change its Tenant Improvement Architect, Tenant Improvement Contractor or Tenant Improvement Project Manager. Tenant shall furnish to Landlord a copy of the executed contracts between Tenant and Tenant Improvement Architect, and Tenant and Tenant Improvement Contractor, covering all of Tenant’s obligations under this Work Letter.

Tenant Improvements. Unless specified otherwise herein, Tenant shall bear and pay the cost of the Tenant Improvements (which cost shall include, without limitation, the costs of construction as provided for in the Tenant Improvement Contractor’s contract, the cost of permits, and all architectural, design, space planning, and engineering services obtained by Tenant in connection with Tenant Improvements); provided that so long as Tenant is not in monetary or material non-monetary default under the Lease, Landlord shall contribute $15 per rentable square foot, for a total of $1,239,930 (the “Tenant Improvement Allowance”). The Tenant Improvement Allowance shall be utilized for the hard and soft costs of the Tenant Improvements, including without limitation building improvements to the Building, the cost of obtaining permits, costs of preparing any plans or drawings, the cost of performing the Tenant Improvements including labor and material costs, cost of any third party consulting or contracting fees (including without limitation costs of Tenant’s architect and engineers), costs with respect to the Tenant Improvement Project Manager, and any other hard costs of the Tenant Improvements; provided, however, the Tenant Improvement Allowance will not be used for signage, furniture costs, any telecom/cabling costs.

Tenant Improvements. All Tenant Improvements shall be performed by Landlord’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the TI Allowance used by Landlord in completing the Tenant Improvements) and in substantial accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by

Tenant Improvements. On June 1, 2028, Landlord shall provide Tenant with a tenant improvement allowance (the “TI Allowance”) of $821,448.00 ($6.00 x 136,908 usable square feet) for tenant improvements (the “Tenant Improvements”) to be made by Landlord to the Premises. The Parties shall exert good faith, commercially reasonable efforts to agree on the Tenant Improvements and a budget therefor. Such agreed on Tenant Improvements shall then be made by Landlord in accordance with such budget as soon as reasonably practicable after such agreement. Tenant shall pay to Landlord all costs and expenses incurred by Landlord in connection with the Tenant Improvements, less the TI Allowance, within thirty (30) days after the date of an invoice therefor, which invoice may be delivered prior to the commencement of construction. If all or any portion of the TI Allowance is not used on or before May 31, 2029, the TI Allowance or such portion that is not used shall be lost and shall no longer be available to Tenant.

The Tenant has requested that Landlord deliver the following items (“Tenant Improvements”), which were not included in the “Landlord Improvements” listed in the building design criteria set forth in Paragraphs 1-25 above.

In addition to the construction of the Landlord Improvements as described above, Landlord agrees to construct those tenant improvements (the “Tenant Improvements”) which are requested by Tenant prior to the mutual approval of the Drawings (as defined below).

Tenant Improvements. Promptly following the Third Expansion Premises Commencement Date, Tenant shall in a diligent, good and workmanlike manner in accordance with plans to be approved by Landlord and in compliance with all applicable federal, state and local laws, rules, regulations and ordinances, improve the Third Expansion Premises pursuant to the process as described on [Exhibit D] attached hereto (collectively, “Tenant Improvements”). [Section 1.6] in the Original Lease shall not apply to construction of the Tenant Improvements, which shall be governed solely by this Amendment.

The parties hereby acknowledge that, as of the date of this Fourteenth Amendment, Tenant has a remaining tenant improvement balance in the amount of ​ (the “Current Improvement Allowance Balance”), which amount is the sum of ​ remaining under Section VI.C. of the Eleventh Amendment (the “Eleventh Amendment Allowance Balance”) plus ​ remaining under [Section V].C. of the Twelfth Amendment (the “Twelfth Amendment Allowance Balance”). Pursuant to the Eleventh Amendment, the deadline by which Tenant must use the Eleventh Amendment Allowance Balance in the manner set forth therein before such amount automatically reverts to Landlord and is no longer available to Tenant is December 31, 2022. Pursuant to the Twelfth Amendment, the deadline by which Tenant must use the Twelfth Amendment Allowance Balance in the manner set forth therein before such amount automatically reverts to Landlord and is no longer available to Tenant is November 30, 2024. The Lease is hereby further amended such that, # the deadline by which Tenant must use the Eleventh Amendment Allowance Balance in the manner set forth in the Eleventh Amendment is modified to be December 31, 2023, and # the deadline by which Tenant must use the Twelfth Amendment

Tenant Improvements. The construction of the Tenant Improvements shall be governed by this Work Letter and the provisions of Section 12 of the Lease shall not apply thereto.

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