Build-Out Costs Clause Samples
The Build-Out Costs clause defines which party is responsible for the expenses associated with constructing, renovating, or customizing a leased space to meet the tenant's requirements. Typically, this clause outlines the scope of work, specifies which improvements are covered, and details how costs are allocated between landlord and tenant—such as whether the landlord provides a tenant improvement allowance or if the tenant must pay for all modifications. Its core function is to clearly allocate financial responsibility for build-out expenses, thereby preventing disputes and ensuring both parties understand their obligations before construction begins.
Build-Out Costs. Subtenant shall be entitled to its proportionate share of the tenant improvement allowance of $50.15/square foot under the Prime Lease. Subtenant shall be responsible for build-out costs for the Sublease Premises that exceed the tenant improvement allowance. In the event that Sublandord terminates this Sublease prior to the end of the Sublease Term pursuant to Section 2 above, Sublandlord shall compensate Subtenant for its out-of-pocket build-out costs for the Sublease Premises.
Build-Out Costs. Until the Closing Date, BX shall (or shall cause a member of the Blackstone Group to) either pay, or reimburse PJT LP or the applicable member of the PJT Group to the extent PJT LP or another member of the PJT Group has paid, for any Build-Out Costs incurred prior to the Closing Date; provided that in no event shall the aggregate amount of all Build-Out Costs paid or reimbursed, whether pursuant to this Section 7.10 or otherwise, exceed $33,000,000.
Build-Out Costs. If Services do not exist at location, LightEdge relies on a services carrier to provide a “best estimate” for initial Service build-out costs. If service carrier notifies LightEdge that build-out costs need to be increased due to unforeseen conditions, LightEdge will be required to pass this cost through to Customer. Customer will have option to either accept additional build-out fees and continue with Service delivery or not accept additional build-out fees in which case Service delivery will not be possible.
Build-Out Costs. BX shall (or shall cause a member of the Blackstone Group to) either pay, or reimburse PJT LP or the applicable member of the PJT Group to the extent PJT LP or another member of the PJT Group has paid, for any Build-Out Costs; provided that in no event shall the aggregate amount of all Build-Out Costs (net of Allowances) paid or reimbursed, whether pursuant to this Section 7.10 or otherwise, exceed $33,000,000. The PJT Group shall use its reasonable best efforts to obtain the Allowances as promptly as reasonably practicable. Upon receipt by any member of the PJT Group of a payment in respect of any Allowance, such member of the PJT Group shall promptly notify Blackstone of such receipt and thereafter promptly pay to Blackstone (to an account or accounts designated by Blackstone) the amount of such payment received.
Build-Out Costs. For the purposes of calculating in Sections 3.5, 5.l(f) and 7.3
(i) whether at the Closing Date the Company's current assets are equal to or greater than its total liabilities less accrued rent (in accordance with GAAP), the Company may exclude from total liabilities up to $183,500 of costs accrued since December 1, 1996 as a result of expenses associated with the Company's move to the 9th and 10th floors of its 71 F▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇ation described in Schedule 3.6 of the Company Schedules. The Company has informed Parent that $116,500 of such costs had been accrued as of December 1, 1996.