Common use of Improvement Allowance Clause in Contracts

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right thereto.

Appears in 2 contracts

Sources: Office Lease (Appdynamics Inc), Office Lease (Appdynamics Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of Fifteen and 00/100 Dollars ($65.00 15.00) per rentable square foot of Suite 700 the Premises located on the first (1st) floor of the Building, and Three and 00/100 Dollars ($3.00) per rentable square foot of the Premises located on the second (2nd) floor of the Building, for the costs relating to the initial design and construction of the improvements improvements, which are permanently affixed to Suite 700 the Premises (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly timely pay any portion of the “Over-Allowance Amount,” as defined that term is defined, and within the time frames more particularly set forth, in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit ContributionAllowance. Notwithstanding the foregoing or any contrary provision of the this Lease, all Improvements shall be deemed Landlord’s property under the terms of the this Lease. Any unused portion of the Improvement Allowance remaining as of January 1December 31, 20172010, shall remain with Landlord and Tenant shall have no further right thereto.

Appears in 1 contract

Sources: Office Lease (Volcano Corp)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the "Improvement Allowance") in the amount of $65.00 1,585,760.00 (based upon $40.00 per rentable square foot of Suite 700 feet in the Building) for the costs relating to the initial design and construction of the Tenant's improvements which are permanently affixed to Suite 700 the Building (the "Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (") and the “Test-Fit Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined other Improvement Allowance Items described in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution2.2 below. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or in no event shall Tenant be entitled to any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any credit for any unused portion of the Improvement Allowance remaining as not used by Tenant within eighteen (18) months following the date of January 1, 2017, shall remain with full execution and delivery of the Lease by Landlord and Tenant ("Allowance Deadline"), which may be extended due to Force Majeure on a day-for-day basis that Tenant or any party on behalf of Tenant is unable to access, use or work at the Premises due to a Force Majeure delay (“FM Extension”), and further subject to Section 2.4 below. No FM Extension shall be deemed to have no further right theretooccurred unless Tenant has given Landlord written notice that an event giving rise to an FM Extension is about to occur or has occurred that will cause a delay in the completion of the Improvements and Landlord has failed to remedy the situation giving rise to a potential FM Extension within one (1) business day after Landlord's receipt of such notice, in which case the number of days of delay after such notice shall be a FM Extension.

Appears in 1 contract

Sources: Single Tenant Lease (Triple Net) (Biocept Inc)

Improvement Allowance. Tenant shall accept the Premises in as-is condition as of the date hereof. Landlord shall provide Tenant with a contribution to be entitled used to reimburse Tenant for the cost of any work (the “Work”) which Tenant shall perform to the Premises on or before December 31, 2006, following approval by Landlord of plans therefor. Within thirty (30) days following receipt by Landlord of paid invoices for the Work from Tenant’s contractor(s) and lien waivers from such contractors, and provided all of the Work for which such Improvement Allowance may be applied shall have been completed in accordance with the Lease and Tenant shall have obtained and delivered to Landlord any certificate of occupancy or other governmental permit or approval necessary for occupancy of the Premises or any part thereof as a one-time improvement allowance result of the performance of the Work and there shall then exist no default of Tenant, Landlord shall remit to Tenant that amount (the “Improvement Allowance”) in being the amount lesser of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared the Work shown by the “Architect,” as such invoices or $53,361.00; provided, however, that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as for which Tenant has not made requisition by December 31, 2006 shall be forfeited. Landlord shall, on or about the date of January 1payment of the Improvement Allowance, 2017, shall remain with provide initial air temperature and volume balancing of the air-conditioning equipment serving Suite 450. Landlord and hereby gives Tenant approval to perform the work described in the space plan attached hereto. Tenant shall have no further right theretocause such work to be performed in compliance with the Lease by a contractor selected by Tenant but subject to approval of Landlord, which approval shall not be unreasonably withheld.

Appears in 1 contract

Sources: Lease (Rainmaker Systems Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of Fifty and 00/100 Dollars ($65.00 50.00) per rentable square foot of Suite 700 the Premises (i.e., a total amount equal to One Million Eight Hundred Twenty-Four Thousand and 00/100 Dollars ($1,824,000.00) based on the Premises containing 36,480 rentable square feet of space), for the costs relating to the initial design and construction of the improvements improvements, which are permanently affixed to Suite 700 the Premises (the “Improvements”), In addition, Landlord shall contribute up which Improvements may include the installation of a security system (subject to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared Landlord’s approval [as more particularly contemplated by the “Architect,” as that term is defined in Section 3.1 terms of this Work Letter. Within thirty (30) days after ]); provided, however, in connection with the later to occur of (i) Tenant’s delivery to installation of any security system, Tenant shall at all times provide Landlord with a contact person who can disarm the security system and who is familiar with the functions of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect alarm system in the lesser amount event of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contributiona malfunction. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly timely pay any portion of the “Over-Allowance Amount,” as defined that term is defined, and within the time frames more particularly set forth, in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit ContributionAllowance. Notwithstanding the foregoing or any contrary provision of the this Lease, all Improvements shall be deemed Landlord’s property under the terms of the this Lease. Any unused portion of the Improvement Allowance remaining as of January 1July 31, 20172011, shall remain with Landlord and Tenant shall have no further right thereto.

Appears in 1 contract

Sources: Office Lease (SERVICE-NOW.COM)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the "Improvement Allowance") in the amount of Seven Hundred Thirty-Four Thousand Two Hundred Twenty and 00/100 Dollars ($65.00 734,220.00) (i.e., Thirty and 00/100 Dollars ($30.00) per rentable square foot of Suite 700 the Premises) for the Improvement Allowance Items, including costs relating to the initial design and construction of the improvements improvements, which are permanently affixed to Suite 700 the Premises (the "Improvements"), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly immediately pay any portion of the “Over-Allowance "Over‑Allowance Amount," as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit ContributionAllowance. Notwithstanding the foregoing or any contrary provision of the this Lease, all Improvements shall be deemed Landlord’s 's property under the terms of the this Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017the date that is twelve (12) months following the Lease Commencement Date (the "Allowance Deadline"), shall remain with Landlord and Tenant shall have no further right thereto. 800114.12/WLA377185-00015/10-3-19/JNO/JNO EXHIBIT ▇-▇▇- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ MAR CORPORATE CENTER III[Evofem Biosciences, Inc.] Landlord agrees that prior to the Lease Commencement Date, Tenant shall not be required to obtain Landlord's approval (but shall be required to obtain Relational Investors LLC's approval) prior to commencing construction of the Improvements pursuant to the ▇▇▇▇▇▇▇▇▇ or Sublease, provided that the construction of the Improvements are performed in accordance with this Work Letter.

Appears in 1 contract

Sources: Office Lease (Evofem Biosciences, Inc.)