Alterations Allowance; Disbursement Procedure Sample Clauses

Alterations Allowance; Disbursement Procedure i. Notwithstanding anything to the contrary in Paragraph 9 below, Landlord shall contribute toward the cost of the construction and installation of the Initial Alterations (including, without limitation, Tenant’s Contractor’s fee and the Alteration Operations Fee) the sum of Two Million Six Hundred Forty-Three Thousand Nine Hundred Forty-Five Dollars ($2,643,945.00) (which is Ninety-Five Dollars ($95.00) per rentable square foot of the Premises) (the “Alterations Allowance”), with not more than Two Hundred Seventy-Eight Thousand Three Hundred Ten Dollars ($278,310.00) (which is Ten Dollars ($10.00) per rentable square foot of the Premises) to be applied to the costs of design, space planning, consultants and construction drawings. No portion of the Alterations Allowance may be applied to equipment, trade fixtures, moving expenses, furniture, signage or free rent. Further, Tenant shall not be entitled to receive (and Landlord shall have no obligation to disburse) all or any portion of the Alterations Allowance if Tenant is in default under the Lease at the time Tenant requests such disbursement; provided, however, that if Landlord did not make a disbursement because Tenant was then in default under this Lease, Landlord shall make the disbursement at such time as the default is cured, provided that all other conditions for the disbursement hereunder have been met. Notwithstanding anything to the contrary in this Paragraph 4.c.i., the Alterations Allowance shall be available for disbursement pursuant to the terms hereof during the eighteen (18) month period commencing on the Commencement Date (the “Allowance Availability Period”). Accordingly, if any portion of the Alterations Allowance has not been utilized (and Tenant has not submitted to Landlord invoices evidencing such costs) prior to the end of the Allowance Availability Period, such unused portion of the Alterations Allowance shall be forfeited by Tenant. Tenant acknowledges that the Alterations Allowance is to be applied to Initial Alterations covering the entire Premises outlined in Exhibit A. The foregoing shall not be deemed to require Tenant to improve all portions of the Premises in the same manner or to the same level of finish, but all portions of the Premises shall be improved in a reasonable manner appropriate for office space, including electrical, HVAC, lighting, floor covering and wall covering consistent with the balance of the Premises.