Common use of Alterations Allowance Clause in Contracts

Alterations Allowance. Landlord hereby grants Tenant the right to use up to $500,000.00 (the “Alterations Allowance”) for the reimbursement of costs expended by Tenant for the purchase and installation of improvements or FF&E which are permanently affixed to or used in the Premises (the “Refurbishments”). Tenant shall construct any Refurbishments constituting improvements as “Alterations” in accordance with the terms of this Article 8; provided, however, Tenant shall not be required to provide a bond under the last sentence of Section 8.4 with respect thereto. If Tenant elects to use any portion of the Refurbishment Allowance, Tenant shall provide written notice thereof to Landlord, together with invoices marked paid or other reasonable evidence of costs expended by Tenant on the Refurbishments, and with applicable lien releases (the “Disbursement Request”). All Disbursement Requests must be made, if at all, on or before the later of November 30, 2015, and six (6) months after the Lease Commencement Date. Tenant shall have no right to access any portion of the Alterations Allowance after such date. Landlord shall pay the applicable portion of the Alterations Allowance to Tenant within thirty (30) days after receipt of a Disbursement Request. If Tenant elects to use any portion of the Alterations Allowance, then Tenant shall be required to pay to Landlord, as Additional Rent under this Lease, the “Additional Monthly Base Rent” as defined below, to repay the Alterations Allowance to Landlord, on a monthly basis on each month during

Alterations Allowance. Tenant may improve and refurbish the F-3 Additional Space and Must-Take Space after the initial delivery thereof by Landlord hereby grants to Tenant. Any such improvement and refurbishment shall be considered Tenant the right to use up to $500,000.00 (the “Alterations Allowance”) for the reimbursement of costs expended by Tenant for the purchase and installation of improvements or FF&E which are permanently affixed to or used in the Premises (the “Refurbishments”)under Lease Article 9. Tenant shall construct be paid or credited with an allowance (the "IMPROVEMENT ALLOWANCE") of Twenty-Four Thousand Nine Hundred Fifty-Five Dollars ($24,955.00) ($5.00 per square foot of Rentable Area in the F-3 Additional Space and Must-Take Space). The Improvement Allowance shall be used solely for the costs of design, including engineering plans and specifications, purchase, installation and construction of improvements which constitute permanent improvements to the F-3 Additional Space and Must-Take Space, including, without limitation, carpeting. The Improvement Allowance shall 5 not be used for furniture or furnishings unless the same are built into the F-3 Additional Space or Must-Take Space and surrendered to Landlord upon expiration of the Lease. Notwithstanding the foregoing, the Improvement Allowance may be used for reasonable costs incurred in moving into the F-3 Additional Space and Must-Take Space and installation costs incurred in connection with the permanent wiring of telecommunications systems in the F-3 Additional Space and Must-Take Space. The Improvement Allowance shall not be available for any Refurbishments constituting improvements costs incurred after June 1, 1998. Portions of the Improvement Allowance shall be advanced to Tenant periodically on a monthly basis after commencement of construction and/or refurbishment by Tenant within the F-3 Additional Space and/or Must-Take Space and after Tenant has delivered to Landlord copies of the original invoices for Tenant's work or labor performed and materials or supplies furnished, and, to the extent used for permanent or built-in improvements, a certificate from Tenant's architect or engineer certifying that the work and materials have been furnished as “Alterations” indicated in such statement and that such work and materials have been substantially completed in accordance with the terms of this Article 8; providedplans therefor. Tenant shall obtain such verification and reports from contractors, however, Tenant subcontractors and materialmen and shall satisfy such other standard construction loan disbursement conditions as may reasonably be required by Landlord. Landlord shall not be required to provide a bond under pay more than the last sentence of Section 8.4 Improvement Allowance toward all costs, expenses and charges related to Tenant's improvement and initial occupancy expenses with respect thereto. If Tenant elects to use any portion of the Refurbishment Allowance, Tenant shall provide written notice thereof to Landlord, together with invoices marked paid or other reasonable evidence of costs expended by Tenant on the Refurbishments, F-3 Additional Space and with applicable lien releases (the “Disbursement Request”). All Disbursement Requests must be made, if at all, on or before the later of November 30, 2015, and six (6) months after the Lease Commencement DateMust-Take Space. Tenant shall have no right not be entitled to access any portion payment or rent reduction for any part of the Alterations Improvement Allowance after such date. Landlord shall pay the applicable portion of the Alterations Allowance to Tenant within thirty (30) days after receipt of a Disbursement Request. If Tenant elects to use any portion of the Alterations Allowance, then Tenant shall be required to pay to Landlord, as Additional Rent under this Lease, the “Additional Monthly Base Rent” as defined below, to repay the Alterations Allowance to Landlord, on a monthly basis on each month duringnot used by Tenant.