LEASEHOLD IMPROVEMENT COSTS. Landlord shall provide all space planning, construction, mechanical and engineering drawings at its sole cost and expense. Landlord will complete, at its expense, on or before July 15, 1995, all of the improvements ("Leasehold Improvements") to the Demised Premises in accordance with the plans and specifications identified in Exhibit _____ attached hereto (the "Plans"). Changes to the Plans as requested by Tenant from time to time shall be performed by Landlord, provided that any such changes shall be subject to Landlord's prior approval, which approval shall not be withheld except where the changes (i) violate any applicable laws or require an amendment or variance to the applicable zoning ordinance or a special permit, (ii) in Landlord's reasonable judgment, materially and adversely effect the exterior appearance of the Buildings or the exterior appearance of other areas of the Demised Premises, or (iii) would result in a violation of the provisions of this Lease, (iv) or would result in a delay in the Commencement of the Term. Landlord shall, before proceeding with any change, submit to Tenant in writing within five (5) business days after Tenant notifies Landlord of the change or request therefor, an estimate of the additional cost, if any, of the change and the additional period of time, if any, the change will add to the scheduled date for completion of the Leasehold Improvements. If Tenant fails to approve such statement within five (5) business days following receipt thereof, the same shall be deemed disapproved and Landlord shall not proceed with the change. If Tenant approves said statement within said period, Landlord shall cause the approved change to be made. Landlord shall promptly proceed with the change as soon as reasonably practical after Tenant's written (i) approval of the foregoing statement by Landlord and (ii) agreement to pay the net additional costs of such change as estimated by Landlord, determined on the basis of actual out-of-pocket costs for labor and materials, plus contractor's and subcontractor's fees not to exceed a total of six percent (6%) of labor and materials costs, after deducting any savings resulting from such change or any prior changes approved by Tenant. Any such amount shall be paid in cash within 30 days after the later of (i) Tenant's receipt of Landlord's itemized invoice showing a breakdown of such additional cost and including such backup documentation as may be reasonably requested by Tenant, or (ii) comp...
LEASEHOLD IMPROVEMENT COSTS. In addition to the allowances described in Section 42 herein, Landlord agrees to provide funds for Tenant's use as set forth in this Section 43. Landlord agrees to provide to Tenant an amount equal to 75% of all Qualifying Costs, not to exceed $300,000.00. The amount so provided to Tenant shall be designated as "10% Leasehold Improvement Costs'" and Tenant shall pay to Landlord, as additional rent due under this Lease, the 10% Leasehold Improvement Costs (plus an amount equal to 1% of the 10% Leasehold Improvement Costs) on a monthly basis, amortized over a five year period at an interest rate of 10% per annum. In addition, an amount equal to 1% of the 10% Leasehold Improvement Costs shall be payable at the time the 10% Leasehold Improvement Costs are provided to Tenant. The aggregate 2% fee represents Landlord's fee for supplying such finds. If the full $300,000.00 is provided to Tenant pursuant to this Section 43, 1% of such amount is $3,000.00 and the monthly amortized payment due to Landlord will be $6,437.85. In addition to the 10% Leasehold Improvement Costs, Landlord shall provide to Tenant, at Tenant's request, an amount up to $50,000 (the amount so provided shall hereinafter be referred to as the "12% Leasehold Improvement Costs"). This $50,000.00 will be made available to Tenant if the Qualifying Costs exceed $400,000.00 but the amount so provided shall not be more than 75% of the amount of Qualifying Costs in excess of $400,000.00. Tenant shall pay to Landlord, as additional rent due under this Lease, the 12% Leasehold Improvement costs (plus an amount equal to 1% of the 12% Leasehold Improvement Costs) on a monthly basis, amortized over a five year period at an interest rate of 12% per annum. In addition, an amount equal to 1% of the 12% Leasehold Improvement Costs shall be payable at the time the 12% Leasehold Improvement Costs are provided to Tenant. The aggregate 2% fee represents Landlord's fee for supplying such finds. If the full $50,000.00 is provided to Tenant pursuant to this Section 43, 1% of such amount is $500.00 and the monthly amortized payment due to Landlord will be $1,123.34.
LEASEHOLD IMPROVEMENT COSTS. As used herein, the term “Leasehold Improvement Costs” shall mean all of the costs to design, construct and install the Leasehold Improvements, including without limitation, the costs of the following:
LEASEHOLD IMPROVEMENT COSTS. Landlord hereby agrees to furnish Tenant with a copy of the contract for the Leasehold Improvements for the Phase I Space and the Phase II Space, as the case may be, by and between Landlord and Landlord's Contractor within ten (10) days after execution thereof. On or before July 1, 1995 in the case of the Phase I Space and on or before July 1, 1996 in the case of the Phase II Space, Landlord shall give Tenant a notice (the "Proposed GMP Notice") setting forth for the applicable Phase, Landlord's Contractor's guaranteed maximum price ("GMP") and estimated cost of the work, inclusive of Landlord's Contractor's Fee (the "Estimated Cost of the Work"). Tenant shall thereafter have the right to approve or reject such proposed GMP by notice given to Landlord. In the event the Tenant rejects the GMP the Tenant shall, at its sole cost and expense, make such changes to the Complete Plans as shall be required to produce a revised GMP acceptable to Tenant. Landlord shall neither commence, nor be required to commence, any Leasehold Improvements for the Phase I Space or the Phase II Space, as the case may be, until the parties have agreed upon the GMP for the applicable Phase. In the event that Landlord and Tenant have not agreed upon the GMP for the applicable Phase on or before the date which is sixty (60) days after the Proposed GMP Notice for the Phase I Space or the Phase II Space, as the case may be, and Tenant does not agree in writing to compensate Landlord for the delay in constructing the Leasehold Improvements as set forth in this paragraph, Landlord shall have the right to terminate this Lease upon notice to Tenant. Without limitation of any other provision of this Lease, in the event that (i) Landlord does not elect to so terminate this Lease, (ii) the parties subsequently agree in writing to the GMP for the Phase I Space or the Phase II Space, as the case may be, and (iii) the Substantial Completion Date for the applicable Phase does not occur on or before the applicable Scheduled Substantial Completion Date as a result of any delay in agreeing upon the applicable GMP, then the Annual Fixed Rent and Additional Rent and other charges due hereunder shall nevertheless begin to accrue (in the case of delay with respect to the Phase I Space) or continue to accrue (in the case of delay with respect to the Phase II Space) on such applicable Scheduled Substantial Completion Data; provided, however, that the Annual Fixed Rent Rate for the Phase I Space or the Phase...
