Alteration Allowance Clause Samples
Alteration Allowance. The Landlord has previously provided Tenant with a construction allowance of $7.25 per rentable square foot of the Original Sixth Floor Premises for a maximum allowance of $76,226.50 which Tenant has received in full. Landlord has also provided Tenant with a construction allowance of $8.50 per rentable square foot of the 1 1,304 S.F. Original Fifth Floor Premises for a maximum allowance of $96,084.00 which Tenant has billed Landlord for in full. Landlord has also provided Tenant with a construction allowance of $7.28 per rentable square foot of the 1,585 sf of the Original Second Floor Premises for a maximum allowance of $11,538.80 of which Tenant has not yet billed Landlord, but all of which will be billed to Landlord in the near future. The Landlord shall provide Tenant with an additional construction allowance of $10.00 per rentable square foot of the respective portions of the New Premises for a maximum allowance of One Hundred Fifty-Nine Thousand One Hundred Seventy and 00/100 Dollars ($159,170.00) to be applied to the leasehold improvement costs associated with the expansion of the Premises pursuant to this Lease, including construction, architectural, engineering, space planning, construction management services, and all other work required to ready the New Premises for Tenant's occupancy (the "Project"). Construction management will be performed, and the Architect and General Contractor selected by Tenant for the Project must be approved, in advance, by the existing property managers, CB/Rich▇▇▇ ▇▇▇▇▇ ▇▇▇ttier Partners. Tenant will forfeit any portion of the construction allowance not expended on or before March 1, 2001. CB/Rich▇▇▇ ▇▇▇▇▇ ▇▇▇ttier Partners will be paid a management fee equal to five (5%) of the total Project cost for its services in supervising the Project work as set forth above. This management fee shall be deducted from the construction allowance. The construction allowance will be disbursed to Tenant upon the completion of Project work upon Tenants' delivery to Landlord of an unconditional certificate of occupancy for the Premises, proof of payment of all contractors, materialmen and suppliers of goods and services to the Project and executed lien waivers with such parties.
Alteration Allowance. The cost of all Tenant's Work to be performed in -------------------- or to the Premises shall, subject to the allowance hereinafter granted by the Landlord, be the sole responsibility of the Tenant. The Landlord does hereby grant to the Tenant an allowance equal to $400,000.00 (the "Alteration Allowance"). The Landlord agrees to pay the Tenant the Alteration Allowance as the Tenant's Work progresses (but in no more than four (4) draws). Within thirty (30) days of receipt from the Tenant of; (a) sworn contractors statements; (b) partial and/or final lien waivers, as the case may be; (c) certification by the Tenant that it is satisfied with the work to date; and (d) proof by the Tenant that it has paid the General Contractor the amounts specified in the Tenant's draw request. Notwithstanding the foregoing the Landlord shall not be required to pay the Tenant any portion of the Alteration Allowance while any pending lien is outstanding for and in relation to the Tenant's Work unless Tenant bonds over the same to the satisfaction of Landlord's title insurance carrier, nor shall the Landlord be required to pay more than 80% of the Alteration Allowance until such time as all of the Tenant's Work has been completed and the Tenant has provided the reasonable proof specified above for and in relation to said final completion of the Tenant's Work. It is expressly acknowledged by Landlord and Tenant that the Alteration Allowance described in this Section 11 shall apply solely and only to the Tenant's Work desired by the Tenant in and to the Premises and completed prior to December 31, 1996. Any unused portion of the Alteration Allowance as of January 1, 1997 shall be applied by the Landlord until exhausted, against the Tenant's duty to pay monthly installments of Base Rent.
Alteration Allowance. Landlord shall provide Tenant an allowance of One Hundred Thirty-nine Thousand Seven Hundred Sixty Dollars ($139,760) which shall be used by Tenant only for alterations in the Original Premises and Additional Premises made in accordance with paragraph 8 of the Lease ("Additional Allowance"). Notwithstanding the foregoing, in no event shall Tenant use the Additional Allowance for the purchase, construction or installation of personal property, movable furniture, trade fixtures, furnishings or equipment. Landlord shall reimburse Tenant for all reasonable costs of alterations in the Original Premises and Additional Premises up to the maximum amount of the Additional Allowance within thirty (30) days after Landlord's receipt from Tenant of copies of all invoices for such alterations together with any other documentation reasonably requested by Landlord including, without limitation, conditional and final unconditional lien releases from all contractors and material suppliers supplying work or materials to the alterations (collectively "Invoices"); provided, however, Tenant must submit to Landlord all Invoices prior to September 30, 1999. Landlord shall have no obligation to reimburse Tenant for any alterations in the Original Premises or Additional Premises for Invoices submitted by Tenant to Landlord after September 30, 1999.