Common use of Application of Additional TI Allowance Clause in Contracts

Application of Additional TI Allowance. Landlord shall contribute, if properly requested by Tenant pursuant to the terms of the Lease, the Additional TI Allowance and any Tenant’s Costs advanced by Tenant to Landlord toward the costs and expenses incurred in connection with the performance of the Additional Improvements, in accordance with Article 4 of the Lease. If the entire Additional TI Allowance is not applied toward or reserved for the costs of the Additional Improvements, then Tenant shall not be entitled to a credit of such unused portion of the Additional TI Allowance. If the entire Tenant’s Costs advanced by Tenant to Landlord are not applied toward the costs of the Additional Improvements, then Landlord shall promptly return such excess to Tenant following completion of the Additional Improvements. Tenant may apply the Additional TI Allowance, if properly requested by Tenant pursuant to the terms of the Lease, for the payment of construction of the Additional Improvements and other costs in accordance with the terms and provisions of the Lease.

Appears in 1 contract

Sources: Lease (Spark Therapeutics, Inc.)

Application of Additional TI Allowance. Landlord shall contribute, if properly requested by Tenant pursuant to the terms of the LeaseThird Amendment, the Additional TI Allowance and any Tenant’s Excess TI Costs advanced by Tenant to Landlord toward the costs and expenses incurred in connection with the performance of the Additional Tenant Improvements, in accordance with Article 4 5 of the LeaseThird Amendment. If the entire Additional TI Allowance is not applied toward or reserved for the costs of the Additional Tenant Improvements, then Tenant shall not be entitled to a credit of such unused portion of the Additional TI Allowance. If the entire Tenant’s Excess TI Costs advanced by Tenant to Landlord are not applied toward the costs of the Additional Tenant Improvements, then Landlord shall promptly return such excess to Tenant following completion of the Additional Tenant Improvements. Tenant may apply the Additional TI Allowance, if properly requested by Tenant pursuant to the terms of the LeaseThird Amendment, for the payment of construction of the Additional Improvements and other costs in accordance with the terms and provisions of the LeaseThird Amendment and this Work Letter.

Appears in 1 contract

Sources: Lease (Cutera Inc)