Common use of Construction by Tenant Clause in Contracts

Construction by Tenant. The provisions of this Section 24.02 shall apply only in the event of Construction by Tenant. Tenant may, in its discretion, elect to cancel the New Improvement or construct the New Improvement at Tenant’s sole cost and expense. In the event Tenant proceeds with construction, Landlord will cooperate with Tenant to obtain all necessary approvals and permits, at no cost to Landlord. Upon the date of occupancy of the New Improvement, the parties shall modify this Lease to include the New Improvement as part of the Premises; however, the Monthly Base Rent under this Lease shall not increase in connection with Construction by Tenant of a New Improvement. In the event of Construction by Tenant, Tenant shall reimburse Landlord for all of Landlord’s reasonable and actual costs incurred in connection with the construction of such New Improvements, including without limitation, any engineering, architectural, or design review fees or costs, legal fees incurred by Landlord and construction management and supervision fees in connection with such New Improvements.