Common use of Initial Tenant Improvements Clause in Contracts

Initial Tenant Improvements. Within thirty (30) days following Tena▇▇'▇ ▇equest and subject to the provisions of this paragraph 18, Landlord shall reimburse Tenant for up to Four Hundred and Forty-Four Thousand Dollars ($440,000) of the costs incurred by Tenant prior to June 30, 2001 in making alterations and improvements within the Premises. Such reimbursement shall be subject to the following conditions: (a) there shall not be an event of default beyond any applicable notice and cure periods by Tena▇▇ ▇▇ the time of such reimbursement; (b) Tenant's request shall be accompanied by evidence of payment of the amounts requested; (c) no reimbursement shall be due for furnishings, fixtures or equipment; and (d) no reimbursement shall be made if not requested in writing by August 1, 2001. Tenant shall have the right, upon prior written notice to Landlord, to assign all, or any portion, of Tena▇▇'▇ ▇ights of reimbursement as set forth herein, to any approved subtenant of Tenant, and such approved subtenant shall have the option to use a portion of the assigned funds for any brokerage commissions due in connection with such subletting or assignment. Upon notification of any such assignment, Land▇▇▇▇ ▇▇▇ees to recognize such subtenant as the beneficiary of such assigned reimbursement rights.