Common use of OTHER IMPROVEMENTS; IMPROVEMENTS CHANGE Clause in Contracts

OTHER IMPROVEMENTS; IMPROVEMENTS CHANGE. As more particularly set forth in Article 1 above and subject to all of the other terms and conditions of this Work Letter, Landlord shall, at Landlord’s sole cost and expense, be responsible for the construction of the Building standard Improvements identified on the Space Plan. Notwithstanding anything to the contrary contained herein including, without limitation, the items identified in the Final Working Drawings (as that term is defined in Section 3.3, below), Tenant shall be responsible for the cost of all items not identified on the Space Plan and/or any items requiring other than Building standard materials, components or finishes (collectively, the “Non-Conforming Improvements”) plus a coordination fee in an amount equal to the product of (i) five percent (5%) and (ii) the total costs of the design and construction of the Non-Conforming Improvements. In the event Tenant desires such Non-Conforming Improvements, Tenant shall deliver written notice (the “Change Notice”) of the same to Landlord, setting forth in detail the Non-Conforming Improvements (the “Improvements Change”). Landlord shall, following receipt of a Change Notice related to an Improvements Change, either (i) approve the Improvements Change, or (ii) disapprove the Improvements Change. In the event that Improvements Change is approved, and incorporated in the Final Working Drawings or the Improvements, any additional costs which arise in connection with such Improvements Change shall be paid by Tenant to Landlord in cash, in advance, upon Landlord’s request (including but not limited to all costs incurred by Landlord in connection with its review of the Change Notice and any related documents) (all such costs shall collectively be referred to as the “Change Amount”). Any such amounts required to be paid by Tenant shall be disbursed by Landlord prior to any Landlord provided funds for the costs of construction of the Improvements. In the event Tenant fails to pay the Change Amount, then Landlord may, at its option, cease work in the Premises until such time as Landlord receives payment of such portion of the Change Amount.

Appears in 2 contracts

Samples: Office Lease (Dermavant Sciences LTD), Office Lease (Dermavant Sciences LTD)

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OTHER IMPROVEMENTS; IMPROVEMENTS CHANGE. As more particularly set forth in Article 1 above and subject to all of the other terms and conditions of this Work Letter, Landlord Lessor shall, at LandlordLessor’s sole cost and expense, be responsible for the construction of the Building standard Improvements identified on the Space Plan. Notwithstanding anything to the contrary contained herein including, without limitation, the items identified in the Final Working Drawings (as that term is defined in Section 3.3, below), Tenant Lessee shall be responsible for the cost of all items not identified on the Space Plan and/or any items requiring other than Building standard materials, components or finishes (collectively, the “Non-Conforming Improvements”) plus a coordination fee in an amount equal to the product of (i) five percent (5%) and (ii) the total costs of the design and construction of the Non-Conforming Improvements). In the event Tenant Lessee desires such Non-Conforming Improvements, Tenant Lessee shall deliver written notice (the “Change Notice”) of the same to LandlordLessor, setting forth in detail the Non-Conforming Improvements (the “Improvements Change”). Landlord Lessor shall, within five (5) business days following receipt of a Change Notice related to an Improvements Change, either (i) approve the Improvements Change, or (ii) disapprove the Improvements Change. In the event that Improvements Change is approved, and incorporated in the Final Working Drawings or the Improvements, any additional costs which arise in connection with such Improvements Change shall be paid by Tenant Lessee to Landlord in cashLessor, in advance, upon LandlordLessor’s request (including but not limited to all costs incurred by Landlord Lessor in connection with its review of the Change Notice and any related documents) (all such costs shall collectively be referred to as the “Change Amount”). Any such amounts required to be paid by Tenant Lessee shall be disbursed by Landlord Lessor prior to any Landlord Lessor provided funds for the costs of construction of the Improvements. In the event Tenant Lessee fails to pay the Change Amount, then Landlord Lessor may, at its option, cease work in the Premises until such time as Landlord Lessor receives payment of such portion of the Change Amount.

Appears in 1 contract

Samples: Constellation Alpha Capital Corp.

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OTHER IMPROVEMENTS; IMPROVEMENTS CHANGE. As more particularly set forth in Article 1 above and subject to all of the other terms and conditions of this Work Letter, Landlord shall, at Landlord’s sole cost and expense, be responsible for the construction of the Building standard Improvements identified on the Space Plan. Notwithstanding anything to the contrary contained herein including, without limitation, the items identified in the Final Working Drawings (as that term is defined in Section 3.3, below)herein, Tenant shall be responsible for the cost of all any items not identified on the Space Plan and/or any items requiring other than Building standard materials, components or finishes (collectively, the “Non-Conforming Improvements”) plus a coordination fee in an amount equal to the product of (i) five percent (5%) and (ii) the total costs of the design and construction of the Non-Conforming Improvements). In the event Tenant desires such Non-Conforming Improvements, Tenant shall deliver written notice (the “Change Notice”) of the same to Landlord, setting forth in detail the Non-Conforming Improvements (the “Improvements Change”). Landlord shall, following receipt of a Change Notice related to an Improvements Change, either (i) approve the Improvements Change, or (ii) disapprove the Improvements Change. In the event that Improvements Change is approved, and incorporated in the Final Working Drawings or the Improvements, any additional costs which arise in connection with any such Improvements Change shall be paid by Tenant to Landlord in cash, in advance, upon Landlord’s request (including but not limited to all costs incurred by Landlord in connection with its review of the Change Notice and any related documents) (all such costs shall collectively be referred to as the “Change Amount”). Any such amounts required to be paid by Tenant shall be disbursed by Landlord prior to any Landlord provided funds for the costs of construction of the Improvements. In the event Tenant fails to pay the Change Amount, then Landlord may, at its option, cease work in the Premises until such time as Landlord receives payment of such portion of the Change AmountAmount (and such failure to deliver shall be treated as a Tenant Delay, as that term is defined in Section 5.2 below).

Appears in 1 contract

Samples: Office Lease (Acadia Pharmaceuticals Inc)

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