Landlord’s Contribution. Tenant shall be entitled to a landlord contribution toward the cost of preparing the Premises for Tenant’s use and occupancy and the construction of alterations and improvements therein in the amount of $3,408,910.00 (the “Landlord Contribution”), which shall be applied to the construction of the Tenant Improvements in accordance with the terms of this Work Letter. Provided and on condition that Tenant is not in material default beyond applicable notice and cure periods at the time of application, Tenant shall be entitled to apply any unused portion of the Landlord’s Contribution as a credit against Rent due under the Lease as amended by the Amendment. Tenant is not required to use any portion of the Landlord Contribution toward the Tenant Improvements, and may apply any portion of the Landlord Contribution toward either the Tenant Improvements or toward credit against Rent due under the Lease, at Tenant’s sole discretion. Should Landlord fail to disburse the Landlord Contribution as required herein, Tenant shall have the right to elect, by written notice to Landlord within thirty (30) days after such default, to offset against monetary obligations owed by Tenant under the Lease, as amended by the Amendment, in the amount that Landlord was obligated to but did not disburse. Except as otherwise provided in this Work Letter or Section 4(a) of the Amendment, in no event shall Landlord be obligated to make disbursements pursuant to this Work Letter (i) in a total amount which exceeds the Landlord’s Contribution, or (ii) if Tenant fails to pay any portion of any “Over-Allowance Amount,” as that term is defined in Section 4.2.2 of this Work Letter.
Landlord’s Contribution a. Tenant shall have prepared by a registered architect and/or a licensed professional engineer, at its sole cost and expense, and submit to Landlord for its approval in accordance with the applicable provisions of the Lease, final and complete dimensioned architectural, mechanical, electrical and structural drawings and specifications in a form ready for use as construction drawings (“Tenant’s Plans”) for the installation of alterations, installations, decorations and improvements in the Second Additional Space to prepare the same for Tenant’s initial occupancy thereof (“Tenant’s Second Additional Space Alteration Work”). Landlord hereby grants its approval to The Xxxxxxxx Group (“TPG”) for retention by Tenant as the architect preparing Tenant’s Plans in accordance with the terms of the Lease subject, however, to Landlord’s right to revoke such approval in the event that hereinafter there occurs any negative experience with TPG (in that they: (i) fail to prosecute work in a manner consistent with good business or trade practice, (ii) default on their obligations to Landlord, Tenant or other tenants of the Building, or (iii) conduct themselves in an unprofessional or disreputable manner in or about the Building) or reasonable concerns regarding the financial stability of, or any criminal proceedings pending against, TPG. All such construction plans and specifications and all such work shall be effected in accordance with all applicable provisions of the Lease, including, without limitation, Article 8, at Tenant’s sole cost and expense. Simultaneously with the execution and delivery of this Agreement by Landlord to Tenant, Landlord shall furnish to Tenant as many copies of a Form ACP-5 for Tenant’s Second Additional Space Alteration Work as are required by any governmental and quasi-governmental agencies and authorities having jurisdiction. In connection with any Tenant’s Second Additional Space Alteration Work, Landlord shall reasonably cooperate with Tenant in connection with obtaining necessary permits for any Tenant’s Second Additional Space Alteration Work, which may include, without limitation, executing applications reasonably required by Tenant for such permits prior to completion of Landlord’s review of Tenant’s Plans, provided that (i) execution of any such application by Landlord shall not constitute Landlord’s consent to Tenant’s Second Additional Space Alteration Work in question (which consent shall still be required in accordance with all app...
Landlord’s Contribution. (a) Landlord agrees to pay to Tenant an amount not to exceed the applicable Landlord's Contribution toward the cost of the Initial Installations for Area A and Area B, provided as of the date on which Landlord is required to make payment thereof pursuant to paragraph 9(b), (i) the Lease is in full force and effect, and (ii) no Event of Default then exists. Tenant shall pay all costs of the Initial Installations in excess of Landlord's Contribution. Landlord's Contribution shall be payable solely on account of labor directly related to the Initial Installations and materials delivered to Area A and Area B in connection with the Initial Installations, except that Tenant may apply up to 5% of Landlord's Contribution to pay "soft costs", consisting of architectural, consulting, engineering and legal fees incurred in connection with the Initial Installations. Tenant shall not be entitled to receive any portion of Landlord's Contribution not actually expended by Tenant in the performance of the Initial Installations in accordance with this paragraph 8, nor shall Tenant have any right to apply any unexpended portion of Landlord's Contribution as a credit against Rent or any other obligation of Tenant hereunder. Upon the completion of the Initial Installations and satisfaction of the conditions set forth in paragraph 9(b), or upon the occurrence of the date which is twelve months after the Rent Commencement Date for the applicable space, whichever first occurs, any amount of Landlord's Contribution which has not been previously disbursed shall be retained by Landlord.
Landlord’s Contribution. Section 40.01. Subject to the provisions of Article 5 of this Lease, Tenant agrees to perform the initial work and installations required to make the Demised Premises suitable for the conduct of Tenant's business (“Tenant’s Work”). Tenant, within thirty (30) days following its execution of this Lease, agrees to deliver to Landlord, for Landlord's approval, the plans and specifications for Tenant's Work. Tenant agrees to commence Tenant’s Work promptly after Landlord’s delivery of vacant possession of the Demised Premises and thereafter shall employ commercially reasonable efforts (provided that Tenant shall not be required to incur any additional expense or use overtime labor in employing such efforts) to complete Tenant’s Work and commence business in the Premises within one hundred eighty (180) days following Landlord’s approval of Tenant’s plans. Provided that Tenant is not in default under this Lease beyond the expiration of any applicable notice and cure period, Landlord agrees to reimburse Tenant up to the sum of Two Hundred Eighty-Nine Thousand Seven Hundred Twenty Dollars ($289,720.00) ("Landlord's Reimbursement Contribution") towards the cost of Tenant’s Work, which shall include the hard costs of construction and soft costs for architectural and engineering services. Landlord shall pay to Tenant, on a monthly basis, but not more than once a month, ninety (90%) percent of the cost of the materials and labor used for Tenant’s Work requested by Tenant theretofore performed by the contractor, which shall include any general contractor and all subcontractors hired by the general contractor, provided Tenant delivers to Landlord concurrently with its request, receipted paid bills of the contractor, including any general contractor and subcontractor, involved and approved by Tenant, and a waiver of mechanic's lien signed by the contractors, including the general contractor and subcontractors, with respect to the amount paid as evidenced by the receipted paid xxxx, such payment to be made to Tenant within thirty (30) days after receipt of Tenant's request together with the aforesaid documentation. Within forty-five (45) days after Landlord receives a certificate from Tenant's architect stating that all of Tenant's Work performed by the general contractor and subcontractors, has been completed, that the same has been performed in compliance with all applicable Governmental Requirements and the approved plans and specifications and delivery to Landlord of t...
Landlord’s Contribution. Provided that this Lease is in full force and effect and there is no event of default in Tenant’s obligation to pay Fixed Rent or Additional Rent, and no other material event of default shall have occurred and is then continuing hereunder (or in such event, upon the cure of any such default), Landlord shall contribute, as hereinafter provided, an amount (“Landlord’s Contribution”) equal to a maximum of Three Hundred Forty-Five Thousand, Seven Hundred and Fifty Dollars ($345,750) toward Tenant’s actual cost of Tenant’s alterations to be performed by or on behalf of Tenant in the Premises, and “soft costs” incurred in connection with Tenant’s alterations, including architectural and engineering fees and other soft costs incurred in connection with Tenant’s alterations. Soft Costs shall mean the cost of space planning, engineering and design costs, third party construction management fees, permitting, furniture, moving and other soft costs and data and voice equipment, cabling, wiring and related expenses and the cost of Tenant’s server room. Landlord shall not be obligated to commence payment of the Work Contribution for the Premises until February 1, 2013.
Landlord’s Contribution. Landlord shall, in the manner hereinafter set forth, contribute up to Four Million One Hundred Eighty-four Thousand Forty and 00/100 Dollars ($4,184,040.00) (i.e., $70.00 per rentable square foot of Premises) ( “ Landlord’s Contribution ” ) towards the cost of Landlord’s Work to be performed in the Premises and as otherwise provided below in this Section 4.7. In the event that the aggregate hard and soft costs of Landlord’s Work (the “Total Cost”) exceeds Landlord’s Contribution, Tenant shall pay to Landlord the amount of such excess pari passu with the application of the Landlord’s Contribution, i.e., each month as Landlord applies Landlord’s Contribution to the Total Cost, Tenant shall contribute an amount equal to the product of (i) the total amount of the Total Cost multiplied by (ii) a fraction, the numerator of which is the amount by which the Total Cost exceeds Landlord’s Contribution and the denominator of which is the Total Cost. Notwithstanding the foregoing, after the completion of Landlord’s Work, provided Tenant has occupied the Premises for its business purposes, Tenant shall be entitled to apply any unused portion of Landlord’s Contribution towards soft costs, including cabling, furniture and moving costs. Lxxxxxxx has previously paid to Tenant or Txxxxx’s architect a space planning allowance in the amount of $6,000.20.
Landlord’s Contribution. Provided that this Lease is in full force and effect and there is no event of default in Tenant’s obligation to pay Fixed Rent or Additional Rent, and no other material event of default shall have occurred and is then continuing hereunder, (or in such event, upon the cure of any such default), Landlord shall contribute, as hereinafter provided, an amount (“Landlord’s Contribution”) equal to a maximum of (i) Two Hundred Sixty-Five Thousand, Six Hundred Dollars ($265,600) for the 36th Floor Space; (ii) Two Hundred Ninety-One Thousand, Three Hundred Fifty Dollars ($291,350) for the 21st Floor Space; (iii) Two Hundred Ninety-Two Thousand, Nine Hundred Twenty-Five Dollars ($292,925) for the 22nd Floor Space; (iv) Two Hundred Seventy-One Thousand, Six Hundred Fifty Dollars ($271,650) for the 23rd Floor Space; and (v) Three Hundred Two Thousand, Nine Hundred Twenty-Five Dollars ($302,925) for the 24th Floor Space toward Tenant’s actual cost of Tenant’s alterations to be performed by or on behalf of Tenant on such Floors, and “soft costs” incurred in connection with Tenant’s alterations, including architectural and engineering fees and other soft costs incurred in connection with Tenant’s alterations. Soft Costs shall mean the cost of space planning, engineering and design costs, third party construction management fees, permitting, furniture, moving and other soft costs and data and voice equipment, cabling, wiring and related expenses and the cost of Tenant’s server room. Landlord shall not be obligated to commence the payment of the Work Contribution for the 36th Floor Space until April, 2011, and for the 21st Floor Space until the 21st Floor Inclusion Date, and for the 22nd and 23rd Floor Space until the 22nd and 23rd Floor Inclusion Date, and for the 24th Floor Space until January 2014.
Landlord’s Contribution. Provided that this Lease is in full force and no monetary Event of Default shall have occurred and is continuing hereunder and provided that there are no outstanding mechanic’s lien, financing statement or other lien, charge or order in existence filed against Landlord, or against all or any portion of the Premises, the Building or the Real Property due to any act or omission of Tenant or any Tenant Party, that has not been actually released and discharged of record or bonded or insured over to the reasonable satisfaction of Landlord, Landlord shall contribute, as hereinafter provided, an amount (“Landlord’s Contribution”) equal to a maximum of Six Hundred Forty Seven Thousand Two Hundred Eighty and 00/100 Dollars ($647,280.00) (based upon the product of $40.00 multiplied by 16,182 Rentable Square Feet) toward Tenant’s actual cost of Tenant’s Initial Alterations to be performed by or on behalf of Tenant and Soft Costs (as defined below) incurred in connection with Tenant’s Initial Alterations; provided, however, that no more than twenty-five percent (25%) of Landlord’s Contribution shall be applied to the reimbursement of space planning, engineering and design costs, third party construction management fees, permitting, furniture, moving and other soft costs (collectively, “Soft Costs”) and, further provided, that Tenant’s Plans for Tenant’s Initial Alterations comply with Article 4. Data and voice equipment, cabling, wiring and related expenses and the cost of Tenant’s server room (if any) shall not be deemed to be Soft Costs for this purpose.
Landlord’s Contribution. Landlord shall contribute to the cost of Tenant's work for the New Premises an improvement allowance ("Allowance") in an amount equal to $300,000.00. Any and all costs associated with Tenant's work in excess of such Allowance shall be paid by Tenant. The Allowance shall be paid directly to Tenant as reimbursement to it for such costs actually paid by Tenant, as further specified below. Payments by Landlord shall be made not more often than monthly and shall be made on the basis of billxxxx xxx work completed which are approved and paid by Tenant and submitted to Landlord together with evidence reasonably satisfactory to Landlord of completion of the work for which the billing is submitted and Tenant's prior payment thereof. For each such billing, Landlord shall pay to Tenant as reimbursement to it a fraction of the full amount of such billing previously paid by Tenant of which $300,000.00 is the denominator and the total cost of the Tenant Improvements is the numerator (but in no event more than the aggregate sum of $300,000.00 as and for the Allowance) , each payment to be made within twenty (20) days after presentation to Landlord of the following
Landlord’s Contribution. Provided there is no uncured Event of Default by Tenant hereunder, Landlord shall provide to Tenant a construction allowance (the “Landlord’s Contribution”) for Premises A in the amount of $139,660.00 (i.e., $20.00 per square foot in Premises A) and for Premises B in the amount of $108,960.00 (i.e., $20.00 per square foot in Premises B) and for Premises C in an amount of $103,180.00 (i.e., $20.00 per square foot in Premises C) to be applied as designated by Tenant in accordance with the terms of this Work Letter toward (a) the Total Construction Costs, and (b) Tenant’s Moving and Relocation Costs (as hereinafter defined) to the extent set forth in paragraph 9 below. Notwithstanding anything herein to the contrary, Landlord shall not be obligated to disburse any portion of the Landlord’s Contribution during the continuance of an uncured Event of Default under the Lease, and Landlord’s obligation to disburse shall only resume when and if such Event of Default is cured. In addition, Landlord has paid or shall pay the cost of a space plan for the Premises and one revision thereto in an amount not to exceed $2,110.80 (i.e., $0.12 per rentable square foot in the Premises). Tenant, by delivery of written notice (a “Deferral Notice”) to Landlord, shall have the right to defer the receipt of up to $175,900.00 (i.e., $10.00 per rentable square foot in the Premises) of the Landlord’s Contribution for the payment for Work in the Premises to be performed at a later date, such date to be specified in such notice (the “Deferred Landlord’s Contribution”). The Deferred Landlord’s Contribution shall be applied to the Total Construction Costs in performing such Work in the Premises, subject to and in accordance with the terms of this Work Letter after the date set forth in such notice. To the extent any portion of the Deferred Landlord’s Contribution remains unused on May 1, 2011, Tenant shall be entitled to apply such unused portion, at Tenant’s option exercised by delivery of written notice to Landlord, as a credit against payments of Rent next due under the Lease for the balance of the initial Term or for additional tenant improvements in the Premises or a combination of the foregoing.
