Common use of Cost of Tenant Improvements Clause in Contracts

Cost of Tenant Improvements. A. Landlord shall complete, or cause to be completed, the Tenant Improvements, at the construction cost shown in the approved Final Cost Estimate (subject to the provisions of this Work Letter), in accordance with final Working Drawings and Specifications approved by both Landlord and Tenant. Landlord shall pay towards the final constructions costs ("Completion Cost") as incurred a maximum of Two Hundred Thirty-One Thousand Eight Hundred Four Dollars ($231,804.00) ("Landlord's Contribution"), based on $12.00 per usable square foot of Suite 1000, and Tenant shall be fully responsible for the remainder ("Tenant's Contribution"). Landlord agrees that if the actual cost of completion of the Tenant Improvements is less than the maximum amount provided for the Landlord's Contribution, than at any time following the Commencement Date for Suite 1000 but prior to December 31, 2000, Tenant shall be permitted to utilize such savings towards other improvement work in the Premises, provided that such work is subject to the prior written approval of Landlord ("Additional Improvements"). Tenant acknowledges that any such excess funds shall be utilized by no later than December 31, 2000; thereafter, any remaining funds of the Landlord's Contribution shall inure to the benefit of Landlord and shall be considered forfeited by Tenant. It is understood that the Additional Improvements shall be done during Tenant's occupancy of Suite 1000. In this regard, Tenant agrees to assume any risk of injury, loss or damage which may result. Tenant further agrees that no rental abatement shall result while the Additional Improvements are completed in Suite 1000.

Cost of Tenant Improvements. A. Landlord shall complete, or cause to be completed, the Tenant Improvements, at the construction cost shown in not to exceed the approved Final Cost Estimate (subject to the provisions of this Work Letter), in accordance with final Working Drawings and Specifications approved by both Landlord and Tenant. Landlord shall pay towards the final constructions construction costs ("“Completion Cost"”) as incurred a maximum of Two Hundred Thirty-One Thousand Eight Hundred Four Dollars $242,600.00 ($231,804.00) ("Landlord's “Landlord Contribution"”), based on $12.00 10.00 per usable square foot of Suite 1000the Premises, and Tenant shall be fully responsible for the remainder remainder, if any ("Tenant's “Tenant Contribution"”). Landlord agrees that Subject to the following sentence, if the actual cost of completion of the Tenant Improvements is less than the maximum amount provided for the Landlord's Landlord Contribution, than at any time following the Commencement Date for Suite 1000 but prior to December 31, 2000, Tenant shall be permitted to utilize such savings towards other improvement work be applied toward additional work, if any, that was part of the Preliminary Plan but that was not included in the PremisesWorking Drawings and Specification, provided that but if there is no such work is subject to additional work, the prior written approval of Landlord ("Additional Improvements"). Tenant acknowledges that any such excess funds shall be utilized by no later than December 31, 2000; thereafter, any remaining funds of the Landlord's Contribution savings shall inure to the benefit of Landlord Landlord. Notwithstanding the foregoing, not later than January 31, 2015, or 10 days after receiving the Final Cost Estimate, whichever is later, Tenant may elect, in writing, to utilize a portion of the Landlord’s Contribution, not to exceed the amount of $121,300.00, based on $5.00 per usable square foot of the Premises, either (i) towards Tenant’s cost of cabling, signage, security and audio/visual systems, furniture, architectural fees, and restoration costs for the Existing Premises and related moving expenses for Tenant’s move to the Premises, or (ii) as credits to reduce the scheduled installments of Basic Rent due and payable under this Lease during the initial Term, such reductions shall be considered forfeited by Tenant. It is understood that the Additional Improvements shall be done during Tenant's occupancy of Suite 1000. In this regard, Tenant agrees to assume any risk of injury, loss or damage which may result. Tenant further agrees that no rental abatement shall result while the Additional Improvements are completed in Suite 1000on an equal and straight-line basis.

Cost of Tenant Improvements. A. Landlord shall complete, or cause to be completed, the Tenant Improvements, at the construction cost shown in the approved Final Cost Estimate (subject to the provisions of this Work Letter), in accordance with final Working Drawings and Specifications approved by both Landlord and Tenant. Landlord shall pay towards the final constructions construction costs ("Completion Cost") as incurred a maximum of Two Hundred ThirtyFifty-One Five Thousand Eight Hundred Four Seven Dollars ($231,804.00255,007.00) ("Landlord's Landlord Contribution"), based on $12.00 28.46 per usable square foot of the portion of Suite 1000900 not within the Vacant Areas, plus $26.58 per usable square foot of the Vacant Areas, and Tenant shall be fully responsible for the remainder ("Tenant's Contribution"). Landlord agrees that if If the actual cost of completion of the Tenant Improvements is less than the maximum amount provided for the Landlord's Contribution, than at any time following the Commencement Date for Suite 1000 but prior to December 31, 2000, Tenant shall be permitted to utilize such savings towards other improvement work in the Premises, provided that such work is subject to the prior written approval of Landlord ("Additional Improvements"). Tenant acknowledges that any such excess funds shall be utilized by no later than December 31, 2000; thereafter, any remaining funds of the Landlord's Contribution shall inure to the benefit of Landlord and Tenant shall not be entitled to any credit or payment. The foregoing Landlord Contribution is based upon Landlord's ability to amortize the Landlord Contribution over a term of ninety-one (91) months and eighty-five (85) months (as to the Vacant Areas), respectively. In the event that the Preliminary Plans are not approved by Tenant on or before August 18, 2004, Landlord's Contribution per usable square foot shall be considered forfeited by Tenant. It is understood that reduced proportionately based on the Additional Improvements shall be done during number of additional months (including a portion of a month) of delay in Tenant's occupancy approval of Suite 1000. In this regard, Tenant agrees to assume any risk of injury, loss or damage which may result. Tenant further agrees that no rental abatement shall result while the Additional Improvements are completed in Suite 1000Preliminary Plans.

Cost of Tenant Improvements. A. Landlord shall complete, or cause to be completed, the Tenant Improvements, at the construction cost shown in the approved Final Cost Estimate (subject to the provisions of this Work Letter), in accordance with final Working Drawings and Specifications approved by both Landlord and Tenant. Landlord shall pay towards the final constructions construction costs ("Completion Cost") as incurred a maximum of Two One Hundred Thirty-One Ninety Thousand Eight Hundred Four Forty-Two Dollars ($231,804.00190,842.00) ("Landlord's Landlord Contribution"), based on $12.00 10.46 per usable square foot of Suite 1000800, and Tenant shall be fully responsible for the remainder ("Tenant's Contribution"). Landlord agrees , provided, however, that if Tenant may elect, by written notice to Landlord, to apply not more than Forty Thousand Dollars ($40,000.00) of the Landlord's Contribution to the cost of the Tenant Improvement Work to be performed in Suite 900 pursuant to the foregoing Exhibit X. If the actual cost of completion of the Tenant Improvements is less than the maximum amount provided for the Landlord's Contribution, than at any time following the Commencement Date for Suite 1000 but prior to December 31, 2000, Tenant shall be permitted to utilize such savings towards other improvement work in the Premises, provided that such work is subject to the prior written approval of Landlord ("Additional Improvements"). Tenant acknowledges that any such excess funds shall be utilized by no later than December 31, 2000; thereafter, any remaining funds of the Landlord's Contribution shall inure to the benefit of Landlord and Tenant shall not be considered forfeited by Tenant. It is understood that the Additional Improvements shall be done during Tenant's occupancy of Suite 1000. In this regard, Tenant agrees entitled to assume any risk of injury, loss credit or damage which may resultpayment. Tenant further agrees shall notify Landlord in when it desires to have Landlord perform the foregoing work and shall allow Landlord sufficient access to Suite 800 therefor; provided, however, that no rental abatement shall result while if the Additional Tenant Improvements are not completed in Suite 1000by June 30, 2006, for any reason other than a delay caused by Landlord, then Landlord shall have no further responsibility to perform any such work.