Common use of Space Plan Allowance Clause in Contracts

Space Plan Allowance. In addition to the Improvement Allowance, Landlord shall pay to Tenant an allowance in the amount of $22,647.06 (“Space Plan Allowance”) for any costs incurred by Tenant for preparing the Space Plan and up to two revisions thereto. The Space Plan Allowance shall be paid by Landlord to Tenant within 30 days after Tenant provides Landlord with invoices describing the costs incurred by Tenant in connection with the Space Plan. In the event that Landlord fails to pay the Space Plan Allowance as and when due, Tenant shall have the same rights and remedies as with regard to Landlord’s failure to timely pay the Improvement Allowance, as provided herein. Tenant hereby acknowledges that, as of the Effective Date, Landlord has already paid to (or on behalf of Tenant) $12,625.00 of the Space Plan Allowance.