Renovation Allowance Sample Clauses
Renovation Allowance. Notwithstanding the foregoing, Tenant may elect to have Landlord pay for the cost of any alterations or improvements undertaken by or on behalf of Tenant within the Demised Premises or any equipment or trade fixtures to be used by Tenant within the Demised Premises up to an amount equal to $600,000. If Tenant so elects, Landlord shall deliver such funds to Tenant from time to time as construction of such alterations or improvements progresses upon Landlord's receipt from Tenant of a request for payment, together with lien waivers from all contractors, subcontractors, laborers or materials suppliers having performed work at the Demised Premises, and all invoices, receipts and other evidence substantiating the cost of said alterations or improvements. Any such amounts paid by Landlord shall be amortized at an annual interest rate of 9.5%, over the term of the Lease in one hundred twenty (120) equal monthly installments and the monthly amortization amount shall be added to and shall increase the Monthly Rental installments throughout the term. Within seven (7) days following the expiration or earlier termination of this Lease, Tenant shall pay to Landlord the unamortized portion, if any, of said renovation allowance.
Renovation Allowance. At the beginning of the Extension Period, Landlord shall make available to Tenant a renovation allowance of One Hundred Eighty Three Thousand Seven Hundred Ninety Two Dollars ($183,792), being Six Dollars ($6) per rentable square foot of the Subleased Premises (the "Renovation Allowance"). Tenant may use the Renovation Allowance to repaint, carpet or otherwise renovate the Subleased Premises, subject to Landlord's approval of the plans and specifications for such renovations and to Tenant's compliance with all provisions of the Sublease relevant to its renovation work. If used in renovation of the Subleased Premises, the Renovation Allowance shall be paid to Tenant or directly to Tenant's contractors within sixty (60) days after Landlord receives evidence of paid invoices representing the work in the case of payment made to Tenant, or detailed invoices and partial or final lien waivers, as applicable, in the case of payments made directly to contractors. If the entire Renovation Allowance is not utilized in renovation of the Subleased Premises, then during the first six months of the Extension Period Tenant shall have the right to credit any unused Renovation Allowance against the Basic Rent due during the first six months of the Extension Period. Any portion of the Renovation Allowance not used for renovations or applied against the Basic Rent by the end of the first six months of the Extension Period shall lapse and Tenant shall have no further rights thereto.
Renovation Allowance. Tenant intends certain renovations to the Property to facilitate the Permitted Use and Landlord desires to contribute funds to that project. Landlord shall contribute $5,000.00 to the project in the form of a $1,000.00 per month credit to the Base Rent for the first five months of the Term (“Renovation Allowance”). In no event shall the Renovation Allowance exceed actual renovation project costs.
Renovation Allowance. As of the commencement of the Additional Term, and in consideration for the Additional Rent (defined below), Landlord shall make available for paying costs of renovating and improving the Premises an allowance of Five Dollars ($5.00) per rentable square foot of the premises not including the Expansion Area (defined below), which is assuming no interim Contraction date (defined below a total amount of One Million Eight Thousand Four Hundred Twenty-Nine Dollars ($l,008,429.00) (the “Renovation Allowance”).