Construction Obligation and Finish Allowance Sample Clauses
The Construction Obligation and Finish Allowance clause defines the responsibilities of the parties regarding the completion of construction work and the allocation of allowances for finishes or materials. Typically, this clause specifies which party is responsible for performing or overseeing construction tasks and sets a budget or limit for certain finish items, such as flooring, fixtures, or paint. By clearly outlining these obligations and financial limits, the clause helps prevent disputes over construction quality, scope, and costs, ensuring both parties understand their roles and the standards to be met.
Construction Obligation and Finish Allowance. The condition of the Premises prior to construction of Tenant Improvements shall be in “as is” condition. Any existing improvements, including the card reader(s) may be reused by Tenant for the purpose of completing Tenant’s Improvements. Landlord agrees to obtain no less than three (3) different competitive bids from mutually approved general contractors to construct Tenant’s Improvements, at Tenant’s cost and expense; provided, however, Landlord shall provide Tenant with an allowance up to $25.00 per rentable square foot (“Finish Allowance”) which allowance shall be for Tenant’s Improvements only and which allowance shall be disbursed by Landlord, from time to time, for payment of (in the following priority) (i) the contract sum required to be paid by the Landlord to the general contractor engaged by the Landlord to construct Tenant’s Improvements (the “Contract Sum”), (ii) the fees of the preparer of the Construction Plans and (iii) payment of the Construction Management Fee (hereinafter defined). Upon completion of Tenant’s Improvements and in consideration of Landlord administering the construction of Tenant’s Improvements, Tenant agrees to pay Landlord a fee equal to two percent (2%) of the Contract Sum to construct Tenant’s Improvements (“Construction Management Fee”) (the foregoing costs are collectively referred to as the “Permitted Costs”). Provided there is no additional space planning, Landlord agrees that total architectural/engineering fees will be reasonable and shall not exceed $1.50/RSF. Up to $5.00/RSF of the Finish Allowance may be used by Tenant as a rental credit or applied to other expenses incurred by Tenant such as signage costs, engineering and professional fees, moving or cabling expenses and said costs or fees shall be reimbursed by Landlord to Tenant within thirty (30) days of submission in writing of evidence of said costs or fees by Tenant to Landlord.
Construction Obligation and Finish Allowance. Landlord agrees to construct, BASED UPON THE LOWEST OF FIVE (5) COMPETITIVE BIDS FOR SUCH WORK, Tenant's Improvements, at Tenant's cost and expense; provided, however, Landlord shall provide Tenant with an allowance up to $7.00 PER SQUARE FOOT OF THE AGREED RENTABLE AREA (the "Finish Allowance"), which allowance shall be disbursed by Landlord, from time to time, for payment of (in the following priority) (i) the contract sum required to be paid to the general contractor engaged to construct Tenant's Improvements (the "Contract Sum"), (ii) the fees of the preparer of the Construction Plans and (iii) payment of the Construction Management Fee (hereinafter defined). Upon completion of Tenant's Improvements and in consideration of Landlord administering the construction of Tenant's Improvements, Tenant agrees to pay Landlord a fee equal to five percent (5%) of the Contract Sum to construct Tenant's Improvements (the "Construction Management Fee") (the foregoing costs are collectively referred to as the "Permitted Costs").
Construction Obligation and Finish Allowance. Landlord shall provide Tenant with an allowance of up to $16.00 per square foot of Agreed Rentable Area of the Premises (the "Finish Allowance"), which allowance shall be disbursed by Landlord, from time to time upon Landlord's receipt of satisfactory evidence of appropriate expenditures for payment of the contract sum required to be paid to the general contractor engaged to construct Tenant's Improvements (the "Contract Sum"). Any unused Finish Allowance may be applied to future Tenant Improvements or refurbishments in the initial Premises or additional space leased by Tenant during the Term. Tenant acknowledges that demolition of existing improvements, addition or movement of lights, refurbishment of the ceiling system, balancing of HVAC, movement and alteration of the sprinkler system, and some secondary duct installation will be deducted from the Finish Allowance. Landlord agrees to provide Tenant, in addition to the Finish Allowance, building standard materials that include fifteen (15) building standard doors, frames and hardware and building standard lighting at a rate of one (1) fixture per eighty (80) rentable square foot leased. Tenant may additionally utilize raised flooring panels and ceiling tile from space outside of the Premises on the 7th Floor to replace panels/tiles in the Premises and may utilize all existing improvements in the Premises.
Construction Obligation and Finish Allowance. (a) Landlord agrees to construct Tenant's Improvements, at Tenant's cost and expense; provided, however, Landlord shall provide Tenant with an allowance up to $1.00 per square foot of Rentable Area in the Premises (the "FINISH ALLOWANCE"), which allowance shall be disbursed by Landlord, from time to time, for payment of (in the following priority) the following costs (collectively referred to as the "PERMITTED COSTS"): (i) the contract sum required to be paid to the general contractor engaged to construct Tenant's Improvements (the "CONTRACT SUM"), (ii) the fees of the preparer of the Construction Plans, and (iii) such other costs related to relocating to or moving into the Premises.
(b) Title to any equipment, appliances, furnishings or personalty installed in the Premises and purchased with any portion of the Finish Allowance shall pass to Landlord upon payment of the invoice cost thereof and Tenant shall not remove any such equipment, appliances, furnishings or personalty from the Premises without Landlord's express, prior written consent or unless requested by Landlord in connection with the expiration or earlier termination of the Lease.
Construction Obligation and Finish Allowance. Landlord agrees to construct Tenant's Improvements, at Tenant's cost and expense; provided, however, Landlord shall provide Tenant with an allowance up to $109,868.00 (the "Finish Allowance"), which allowance shall be disbursed by Landlord, from time to time, for payment of the contract amount required to be paid to the general contractor engaged to construct Tenant's Improvements the fees of the preparer of the Construction Plans ("the Contract Sum") and the Construction Management Fee (hereinafter defined). Upon completion of Tenant's Improvements and in consideration of Landlord administering the construction of Tenant's Improvements, Tenant agrees to pay Landlord a fee equal to five percent (5%) of the Contract Sum (the "Construction Management Fee") (the foregoing costs are collectively referred to as the "Permitted Costs").
Construction Obligation and Finish Allowance. Landlord shall provide Tenant with an allowance of $201,243.00 (the "Finish Allowance"), which Finish Allowance shall be disbursed by Landlord, from time to time, for payment of (in the following priority): (i) the contract sum required to be paid to the general contractor engaged to construct Tenant's improvements (the "Contract Sum"), and (ii) the fees of the preparer of the Construction Plans.