Expansion Premises Improvements. Upon full execution of this First Amendment, Landlord shall cause a qualified architect or other design professional to prepare plans, including a full set of construction drawings (the “Plans”) and submit such Plans to Tenant for its review and approval. Tenant will not unreasonably withhold or delay its approval of the Plans. Upon approval of the Plans by Tenant and any required governmental approvals, Landlord shall construct the improvements in accordance with the Plans for and on behalf of Tenant (the “Expansion Improvements”). Landlord and Tenant have agreed that the costs of such Expansion Improvements shall be paid by Tenant, although Landlord shall provide Tenant an allowance of up to $75,075.00 to be utilized toward the cost of the Expansion Improvements (the “Allowance”). The Allowance shall be used exclusively for the payment of costs relating to the construction of the Expansion Improvements, including the cost of preparing the Plans and a construction management fee payable to Landlord’s construction manager for profit and overhead in the total amount of eight percent (8%) of the total cost of the Expansion Improvements, which costs Landlord shall pay directly out of the Allowance for the credit of Tenant, and in no event shall any part of the Allowance be payable to or paid to Tenant. Any costs of the Expansion Improvements which exceed the Allowance, shall by paid by Tenant to Landlord without further demand within thirty (30) days after the date of submission by Landlord to Tenant of a statement of said costs. Any improvements to the Expansion Premises, other than as shown on the Plans, and the furnishing of the Expansion Premises, shall be made by Tenant at the sole cost and expense of Tenant, subject to all other provisions of this First Amendment. Tenant’s occupancy of the First Expansion Premises, or the Second Expansion Premises, upon substantial completion of each, shall be conclusive evidence of Tenant’s acceptance of the First Expansion Premises or the Second Expansion Premises, as the case may be.
Expansion Premises Improvements. Subject to disbursement of the Allowance, and subject to and in accordance with the terms and conditions of Section 8 (Alterations) of the Original Lease and this Section 8, Tenant shall be entitled to perform certain improvements (collectively, the “Expansion Premises Improvements”) within the Expansion Premises, utilizing Landlord’s current standard grade, quality, make, style, design, color, materials and construction methods for Building 4. In accordance with Section 8(a) of the Original Lease, Tenant’s proposed plans for the Expansion Premises Improvements will be subject to Landlord’s reasonable review and approval, provided that if and to the extent the Expansion Premises Improvements proposed by Tenant are consistent with, or reasonably comparable to, any Tenant improvements within, or serving, the Existing Premises (including, without limitation, any “Tenant Improvements” [as defined in the Original Lease]), then Landlord shall not withhold, delay or condition its review or approval of Tenant’s proposed plans for the Expansion Premises Improvements.
Expansion Premises Improvements. The attached Workletter is incorporated into the Lease for the purpose of making improvements to the Expansion Premises.
Expansion Premises Improvements. (A) Landlord shall deliver the Expansion Premises to Tenant in its “as is” condition; provided, however, that Landlord shall construct the Tenant Improvements in the Expansion Premises (the “Expansion Premises Improvements”), at Tenant’s sole cost and expense subject, however, to the application of the Tenant Improvement Allowance, in accordance with the terms of this Lease.
Expansion Premises Improvements. Pursuant to Section 40 of the Lease, Tenant desires to have Landlord construct certain improvements to the Expansion Premises in accordance with Section 8(b) of the Lease (the “Expansion Premises Improvements”). Notwithstanding the foregoing or Section 8(b), Landlord’s Project Management Fee (as defined in Section 8(b)(iv)) with respect to the Expansion Premises Improvements shall be equal to $8,395.62 plus two percent (2%) of the net increase or decrease resulting from any Change Order and Tenant’s Tenant Allowance (as defined in Section 8(b)(x)) with respect to the Expansion Premises Improvements shall be equal to $337,727.48. Provided that Tenant has provided Landlord with Tenant Improvement Plans in a timely fashion, Landlord shall use good faith diligent efforts to cause the Tenant Improvements to be Substantially Completed not later than October 31, 2017, subject to Change Orders, force majeure and Tenant Delays. Except as set forth above, the Expansion Premises Improvements shall be made under and subject to the terms of Section 8(b) of the Lease. Notwithstanding the foregoing, the Expansion Premises Improvements Allowance set forth above is based upon an assumption that the Expansion Premises Term will be 127 months (to be coterminous with the Original Premises Term). In the event that the Expansion Premises Term is more or less than 127 months, the foregoing Expansion Premises Improvements Allowance will be adjusted consistent with the formula set forth in Section 40 of the Lease.
