Common use of Disbursement of Improvement Allowance Clause in Contracts

Disbursement of Improvement Allowance. Landlord shall disburse the Improvement Allowance to Tenant as the construction of the Tenant Improvements progresses, as follows: Tenant shall deliver to Landlord, not more frequently than once per any thirty (30) day period (with a minimum request of One Hundred Thousand Dollars ($100,000), except for the final request for disbursement which shall not be subject to any dollar limitation), an application for payment, accompanied by documentary evidence as reasonably required by Landlord (including, at a minimum, copies of the paid invoices and conditional or unconditional, as applicable, mechanics’ lien waivers reasonably required by Landlord from the previous disbursement and signed by the applicable party) of the costs incurred by Tenant for the design and construction of the Tenant Improvements since the last application for reimbursement. Within thirty (30) days after Landlord’s receipt of such an application for reimbursement, Landlord shall pay to Tenant the amount of such application based upon the costs actually incurred by Tenant for construction of the Tenant Improvements; provided, however, Landlord shall retain an amount equal to ten percent (10%) of each application (the “Landlord Retention”), which Landlord Retention shall be released pursuant to the provisions of Section 1.4.3 below. In no event shall Landlord be required to disburse more than the Improvement Allowance.

Disbursement of Improvement Allowance. Landlord shall disburse the Improvement Allowance to Tenant as the construction of the Tenant Improvements progresses, progresses as follows: On or before the tenth (10th) day of each month, Tenant shall deliver to Landlord, not more frequently than once per any thirty (30) day period (with a minimum request of One Hundred Thousand Dollars ($100,000), except for the final request for disbursement which shall not be subject to any dollar limitation), Landlord an application for paymentreimbursement, accompanied by documentary evidence as reasonably required by Landlord (including, at a minimum, copies of the paid invoices and conditional or unconditional, as applicable, unconditional mechanics’ lien waivers reasonably required by Landlord from the previous disbursement and signed by the applicable party) of the costs incurred by Tenant for the design and construction of the Tenant Improvements since the last application for reimbursement. Within thirty (30) days after Landlord’s receipt of such an application for reimbursement, Landlord shall pay to Tenant a pro rata share of such application determined by multiplying the amount of such application based upon by a fraction, the costs actually incurred by Tenant for construction numerator of which is the Improvement Allowance and the denominator of which is the greater of (1) the total estimated cost of the Tenant Improvements, including all professional fees and services, and all licensing and permit fees, or (2) the Improvement Allowance; provided, however, however that after making the foregoing calculation Landlord shall retain an amount equal to ten percent (10%) of Landlord’s pro rata share of each application (the “Landlord Retention”), which Landlord Retention shall be released pursuant to the provisions of Section 1.4.3 1.3.3 below. In no event shall Landlord be required to disburse more than the Improvement Allowance.

Disbursement of Improvement Allowance. Landlord shall disburse the Improvement Allowance to Tenant as the construction of the Tenant Improvements progresses, progresses as follows: On or before the tenth (10th) day of each month, Tenant shall deliver to Landlord, not more frequently than once per any thirty (30) day period (with a minimum request of One Hundred Thousand Dollars ($100,000), except for the final request for disbursement which shall not be subject to any dollar limitation), Landlord an application for paymentreimbursement, accompanied by documentary evidence as reasonably required by Landlord (including, at a minimum, copies of the paid invoices and conditional or unconditional, as applicable, unconditional mechanics’ lien waivers reasonably required by Landlord from the previous disbursement and signed by the applicable party) of the costs incurred by Tenant for the design and construction of the Tenant Improvements since the last application for reimbursement. Within thirty (30) days after Landlord’s receipt of such an application for reimbursement, Landlord shall pay to Tenant a pro rata share of such application determined by multiplying the amount of such application based upon by a fraction, the numerator of which is the Improvement Allowance and the denominator of which is the total costs actually incurred by Tenant for construction of the Tenant Improvements, including Changes, the amount of the all professional fees and services, and all licensing and permit fees; provided, however, however that after making the foregoing calculation Landlord shall retain an amount equal to ten percent (10%) of Landlord’s pro rata share of each application (the “Landlord Retention”), which Landlord Retention shall be released pursuant to the provisions of Section 1.4.3 1.3.3 below. In no event shall Landlord be required to disburse more than the Improvement Allowance.