Ten-Year Extension Term Allowances Sample Clauses

Ten-Year Extension Term Allowances. Lessor hereby acknowledges and agrees that a material portion of the consideration for Lessee’s agreement to enter into this Amendment is Lessee’s ability to enhance the Building during the Ten-Year Extension Term with various Alterations (as such term is defined in the Lease), and Lessor’s agreement to provide tenant improvement allowances as set forth below. When requesting Lessor’s consent to Alterations, Lessee shall include with such request Lessee’s reasonable estimate of the costs and expenses of installing such Alterations (“Estimated Cost of Alterations”). Lessor shall review and approve any plans, specifications or drawings submitted by Lessee to Lessor for approval with respect to the Alterations within five (5) days of receipt of the same, and if Lessor fails to either approve or reasonably disapprove the same within such five (5) day period, then the same shall be deemed approved. If Lessor reasonably disapproves of any aspect of Lessee’s plans and specifications for the Alterations, Lessor shall specify the reasons for disapproval in Lessor’s notice of disapproval. Lessor agrees that any disapproval shall be deemed unreasonable unless Lessor provides with its notice of disapproval demonstrable evidence that a decline in value in the Project would result from the proposed Alterations. Notwithstanding any other provision of the Lease to the contrary, if Lessor continues to fail to approve the plans and specifications for the Alterations for a period of forty-five (45) days after the initial submission of the same to Lessor, then Lessee shall have the right at any time thereafter to terminate the Lease by providing written notice thereof to Lessor, and upon receipt of such notice the Lease shall terminate, and Lessor shall promptly thereafter return all sums previously paid or deposited by Lessee to Lessor. Following approval of the plans and specifications for the Alterations, Lessor shall pay to Lessee an Unamortized Allowance (as defined below) as provided in subparagraph 5d(i) below and shall pay an Additional Allowance (as defined below) as provided in subparagraph 5d(ii) below. Upon substantial completion of the Alterations, Lessee shall give notice to Lessor specifying the date of such substantial completion (“Notice of Completion”) and as soon as reasonably practical shall provide to Lessor reasonable evidence of the actual costs and expenses incurred by Lessee in completing the Alterations (“Actual Cost of Alterations”). In no event sha...