Payment for Tenant Improvements. Within five (5) business days after the Budget is approved by Lessor and Lessee, Lessee shall deposit Lessee's share of the amount budgeted for the entire Tenant Improvement construction schedule (together with the cost of any Tenant Improvements already made) in an interest bearing escrow account with Lessor's Construction Lender the interest being credited to Lessee, provided that, if Lessor's Construction Lender fails to agree in writing that, upon any foreclosure, Lender or any other successor in interest to Lessor, will either apply the deposited amount in accordance with the provisions of this Lease or return same to Lessee, said escrow account shall be opened at an institution, other than Lessor's Construction Lender, pursuant to joint escrow instructions of Lessor and Lessee providing for disbursements in accordance with this Lease. Lessee's share is the portion of the budgeted amount not paid from the Tenant Improvement Allowance as described in the following sentence. Said construction lender (or other institutional escrow holder, as the case may be) shall issue payments from said account pursuant to the construction contract for the Tenant Improvements with a portion of each payment being taken from the Tenant Improvement Allowance (in the same ratio as the Tenant Improvement Allowance bears to the entire Budget total) and the balance being paid from Lessee's deposit, until the Tenant Improvement Allowance is exhausted, whereupon any remaining payments shall be made 100% by Lessee. Lessor shall manage the construction of the Tenant Improvements for a supervision fee of 2.5% of the Budget (as the same may change by agreement of the parties) due and payable in nine equal monthly installments beginning on the first day of the calendar month following the calendar month in which the Budget is first approved.
Payment for Tenant Improvements. The Tenant Improvement Costs shall be paid solely by Tenant as follows:
Payment for Tenant Improvements. Within two (2) business days after ------------------------------- the Budget is approved by Lessor and Lessee, Lessee shall deposit Lessee's share of the amount budgeted for the entire Tenant Improvement construction schedule (together with the cost of any Tenant Improvements already made) with Lessor's construction lender to be held in an escrow account. Lessee's share is the portion of the budgeted amount not paid from the Tenant Improvement Allowance as described in the following sentence. Said construction lender shall issue payments from said account pursuant to the construction contract for the Tenant Improvements with a portion of each payment being taken from the Tenant Improvement Allowance (in the same ratio as the Tenant Improvement Allowance bears to the entire Budget total) and the balance being paid from Lessee's deposit, until the Tenant Improvement Allowance is exhausted, whereupon any remaining payments shall be made 100% by Lessee. Lessor shall manage the construction of the Tenant Improvements for a supervision fee of 4% of the Budget (as the same may change by agreement of the parties) due and payable in nine equal monthly installments beginning on the first day of the calendar month following the calendar month in which the Budget is first approved.
Payment for Tenant Improvements. Within five (5) business days after the Budget is approved by Lessor and Lessee, Lessee shall deposit Lessee’s share of the amount budgeted for the entire Tenant Improvement construction schedule (together with the cost of any Tenant Improvements already made) with Lessor’s construction lender to be held in an escrow account, with interest from said account, if any, shall accrue to the benefit of lessee. After completion of Tenant Improvements, any balance of said account should be paid to lessee. Lessee’s share is the portion of the budgeted amount not paid from the Tenant Improvement Allowance as described in the following sentence. Said construction lender shall issue payments from said account pursuant to the construction contract for the Tenant Improvements with a portion of each payment being taken from the Tenant Improvement Allowance (in the same ratio as the Tenant Improvement Allowance bears to the entire Budget total) and the balance being paid from Lessee’s deposit, until the Tenant Improvement Allowance is exhausted, whereupon any remaining payments shall be made 100% by Lessee. Lessor shall manage the construction of the Tenant Improvements for a construction management fee of 2.5% of the Tenant Improvement Contract amount (as the same may change by agreement of the parties) due and payable in nine equal monthly installments beginning on the first day of the calendar month following the calendar month in which the Budget is first approved.
Payment for Tenant Improvements. The Tenant Improvement Costs shall be ------------------------------- paid solely by Tenant as follows:
Payment for Tenant Improvements. 4.1 All costs and expenses incurred for the construction of the Improvements shall be paid by the Tenant, less credit to the Tenant from the Landlord.
Payment for Tenant Improvements. Landlord shall pay, pursuant to the terms and conditions of the Work Letter Agreement, the cost and expense of Tenant Improvements in an amount not to exceed the Tenant Improvement Allowance. The cost and expense of any Tenant Improvements in excess of the Tenant Improvement Allowance, shall be paid by the Tenant in accordance with the provisions of the Work Letter Agreement.
Payment for Tenant Improvements. Lessee shall pay when due, to all third parties involved in the design, permitting, engineering and construction of same, the entire cost of the Tenant Improvements so that construction shall be complete pursuant to the approved construction schedule described in the Work Letter Agreement.
Payment for Tenant Improvements. Tenant shall pay all expenses, fees and costs relating to the construction and design of the Tenant Improvements. Tenant shall promptly (within 20 days of Landlord's billing) reimburse Landlord for any amounts Landlord or Landlord's contractor expends for the construction of those items of the Tenant Improvements which Tenant has previously approved in writing (but it shall not be necessary that Tenant approved in advance the amount of such item) for such item.
Payment for Tenant Improvements. If the contractor's cost estimates for the Tenant Improvements exceeds the Landlord's Construction Allowance as set forth in the Basic Lease Provisions, then Tenant shall deliver at the time of its approval its check payable to Landlord in an amount equal to such excess together with delivery of the approved copy of the Plans.
