Tenant Allowance Sample Clauses
A Tenant Allowance clause defines the amount and terms under which a landlord provides funds or credits to a tenant, typically to cover costs related to improvements or modifications to the leased premises. This allowance may be paid as a lump sum or reimbursed upon completion of approved work, and often requires the tenant to submit documentation or invoices for eligible expenses such as construction, fixtures, or design upgrades. The core function of this clause is to facilitate the tenant’s customization of the space while clearly outlining financial responsibilities, thereby reducing disputes and ensuring both parties understand the scope and limits of the landlord’s contribution.
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Tenant Allowance. As a material part of this leasing transaction, ---------------- Landlord agrees to provide to Tenant an allowance ("Tenant Improvement Allowance") of $20.00 per square foot (i.e., a total of 5,376 sf x $20.00 psf = $107,520.00). Such Tenant Improvement Allowance shall be usable for, but shall not be limited to, the cost of all construction documents/drawings, permits, actual construction costs (materials and labor), general contractor fees, reasonable (and documented) moving related expenses (not to exceed $2.00 per square foot of the total Tenant Improvement Allowance), and a five percent (5%) construction management fee (such total costs hereinafter referred to as "Tenant Improvement Costs"). To the extent that the Tenant Improvement Costs exceed the Tenant Improvement Allowance (a "Shortfall"), Landlord will ▇▇▇▇ to Tenant the Shortfall in two (2) equal installments, due as follows: the first installment of fifty percent (50%) of the shortfall to be made at the commencement of construction, and the second installment of fifty percent (50%) upon substantial completion of construction. To the extent that the Tenant Improvement Costs are less than the Tenant Improvement Allowance, Landlord shall credit the unused portion of the Tenant Improvement Allowance against the first rental payment(s) when due or, at Tenant's sole -- option, Landlord shall place the unused portion of the Tenant Improvement Allowance in an interest-bearing account, and Tenant may use said unused portion of the Tenant Improvement Allowance for future Tenant Improvements within the New Premises. In all events, ten percent (10%) of the total cost of the job will be held back from the general contractor until all punch list items are complete, to the reasonable satisfaction of Tenant's architect.
Tenant Allowance. Landlord shall provide Tenant an allowance for each Building in an amount not to exceed the sum set forth in the Basic Lease Information for the Tenant Allowance for the applicable Building (collectively, the “Tenant Allowance”), to be applied toward the cost of the following items in respect of the Tenant Improvements in the applicable Building: Architectural and engineering fees, space planning, building permits or other governmental fees, and the cost of labor, materials, contractors fees and overhead, and other charges included in the construction contract for construction of Tenant Improvements, including the contractor’s fee, overhead and general conditions, sales and use taxes, the cost of the builder’s risk insurance during construction and all testing and inspection costs. If Landlord elects to itself construct the Restroom Improvements, Landlord shall make payments to its contractor for the Restroom Improvements as and when such costs are incurred and deduct the amount of such payments from the Tenant Allowance for Building 2 up to the maximum amount stated in Paragraph I of this Work Letter. Landlord shall not be obligated to disburse any remaining portion of the Tenant Allowance attributable to a Building until such time as (i) the Commencement Date for the applicable Building has occurred and Tenant has accepted delivery of the Building and made the initial prepayment of Rent with respect to the applicable portion of the Premises; and (ii) Tenant has delivered to Landlord and Landlord has approved, in Landlord’s reasonable discretion, all of the following: (A) invoices, paid receipts and/or related evidence reasonably acceptable to Landlord establishing that Tenant has paid an amount equal to that portion of the Tenant Allowance requested by Tenant to third parties in connection with the Tenant Improvements in the applicable Building; (B) executed unconditional final mechanics’ lien releases, in statutory form, from Tenant’s contractor and all subcontractors, laborers, materialmen and suppliers used by Tenant with respect to all work in and to the Premises located in the applicable Building; (C) a certificate from Tenant’s architect or space planner, in a form reasonably acceptable to Landlord, certifying that the construction of the Tenant Improvements in the applicable Building has been substantially completed and meets all applicable building codes; (D) a copy of the certificate of occupancy (or similar governmental authorization) for the a...
Tenant Allowance. (a) Provided this Lease is in full force and effect and Tenant is not then in default of the payment of basic annual rent under this Lease or of any other obligations under this Lease beyond any applicable notice and cure periods, Landlord shall pay Tenant toward the cost of the Initial Work up to an amount equal to the Initial Premises Allowance, as adjusted by Schedule C and by the last sentence of Section 2.04 hereof, for Hard Costs (as hereinafter defined) and Soft Costs (as hereinafter defined); provided, that Landlord shall not be required to pay from the Initial Premises Allowance for Soft Costs to the extent such Soft Costs exceed the Initial Premises Soft Costs Maximum (hereinafter defined). The “Initial Premises Soft Costs Maximum” equals ten percent (10%) of the difference between: (a) the Initial Premises Allowance and (b) the total amount set forth in Schedule C hereof. Subject to the terms of this Article, Landlord shall pay Tenant the Initial Premises Allowance, it being understood that in no event shall Landlord be obligated to expend any amounts (x) in excess of the Initial Premises Allowance or (y) for Soft Costs in excess of the Initial Premises Soft Costs Maximum. Tenant shall pay its contractors, subcontractors, materialmen and other professionals for performing the Initial Work, including all costs of the Initial Work in excess of the Initial Premises Allowance.
Tenant Allowance. Landlord agrees to provide an allowance of up to $35.00 per square foot of Rentable Area of the ground floor portion of the Premises (i.e. $1,856,400.00 subject to adjustment in the event of a re-measurement) but excluding space leased pursuant to the Right of First Offer or otherwise, to design, engineer, install, supply and otherwise to construct the Tenant Improvements in the Premises that will become a part of the Building (the “Tenant Allowance”). Tenant is fully responsible for the payment of all costs in connection with the Tenant Improvements in excess of the Tenant Allowance which shall be paid on a pro rata basis with the Tenant Allowance. This Tenant Allowance is only available to Tenant for Tenant’s use until May 1, 2008 (“Tenant Allowance Use Date”). Any portion of the Tenant Allowance not used by Tenant by the Tenant Allowance Use Date shall automatically terminate and be of no further use to Tenant. In addition to the foregoing, Landlord will provide Tenant an option for up to Ten Dollars ($10.00) per square foot of Rentable Area of the Premises for additional Tenant Improvements that will become part of the Building to be paid for by increasing the Annual Base Rent by the amount necessary to amortize the cost of such additional Tenant Improvements over the Initial Lease Term at the rate of ten percent (10%) per annum. All disbursements of the Tenant Allowance shall be made within ten (10) Business Days of submission by Tenant to Landlord of an AIA Form Requisition duly executed and notarized by Tenant, Contractor, and Architect or Engineer, together with fully executed lien waivers from all subcontractors, and mechanics and materialmen for work done through the date of the preceding requisition, and shall be paid to Tenant or, upon Tenant’s request, directly to Tenant’s contractor, architect or other consultants or suppliers.
Tenant Allowance. The Landlord shall provide the Tenant with a tenant improvement allowance in the amount of [$[●]] per square foot of Gross Rentable Area of the Premises (the “Tenant Allowance”) for the purpose of reimbursing the Tenant for a portion of its out of pocket costs in completing the Tenant’s Work, such payment to be made within ten (10) days after the satisfaction of all of the following conditions:
(a) the Tenant has taken possession of the Premises and opened for business to the public in the whole of the Premises for the specifically permitted use in Section 7.1 of this Lease;
(b) the Landlord has received from the Tenant, if required by the city or local government in which the Development is located, an occupancy permit allowing the Tenant to conduct its business within the Premises;
(c) the Landlord has received from the Tenant a statutory declaration of an officer of the Tenant, executed no less than sixty (60) days after the completion of the Tenant’s Work, certifying that the Tenant has paid all accounts owing with respect to the Tenant’s Work, that no Person is entitled to claim a lien against the title to the Lands with respect to any of the Tenant’s Work and that the statutory holdback period under the applicable builders’ lien legislation has expired;
(d) any lien that may have been filed against the Development or Lands with respect to the Tenant’s Work has been discharged;
(e) this Lease has been executed and delivered by the Landlord and the Tenant;
(f) no Event of Default exists under this Lease;
(g) the Landlord has received from the Tenant duly receipted invoices and other proof satisfactory to the Landlord evidencing the actual out of pocket expenses incurred by the Tenant in performing the Tenant’s Work (the “Tenant’s Actual Costs”); and
(h) the Landlord has received a letter from the Tenant requesting the payment of the Tenant Allowance, confirming that all of the other conditions in paragraphs (a) to
Tenant Allowance. Landlord shall provide Tenant with a $75,000 relocation allowance to be used for furniture, wiring, and other costs
Tenant Allowance. Landlord and Tenant hereby confirm that the “Tenant Allowance” for the 20,000 Expansion Space is One Million Four Hundred Sixty-Eight Thousand Five Hundred Nine and 58/100 Dollars ($1,468,509.58), and the FF&E and Rent Cap for the 20,000 Expansion Space shall be ten percent (10%) thereof. 2882870-3 11723.0024904
Tenant Allowance. Provided Tenant is not in any material default under the terms and conditions contained herein, Landlord shall pay Tenant the sum of Ninety-One Thousand Two Hundred Dollars ($91,200.00) (Tenant's Allowance) with respect to Tenant's Improvements in the Expansion Space, in the manner hereinafter provided. Landlord shall pay Tenant's Allowance to Tenant when Tenant has opened for business in the Expansion Space, paid the Minimum Rent and ancillary charges for the first month of the Initial Expansion Term, and furnished to Landlord the following:
i. The affidavit of Tenant's general contractor, if applicable, stating that (a) Tenant's Improvements have been fully completed in accordance with this Amendment, subject however, to Landlord's verification thereof and all subcontractors, laborers and material suppliers have been paid in full.
ii. A waiver of lien executed by every subcontractor, laborer and material supplier engaged in or supplying labor or materials to the Expansion Space in excess of Five Thousand Dollars ($5,000.00);and A certificate of use and occupancy for the Expansion Space issued by the appropriate governmental authority. Not withstanding anything to the contrary contained herein, Landlord reserves the right to offset against Tenant's Allowance any delinquent amounts due to Landlord by Tenant accrued hereunder. Tenant agrees that all work undertaken by Tenant in the Expansion Space shall be performed in a first-class and workmanlike manner and all equipment, fixtures and installation shall be new and in usable condition.
Tenant Allowance. Landlord shall provide Tenant with an allowance (the “Tenant Allowance”) in the amount of $245,000.00 to reimburse Tenant for costs incurred by Tenant (not in excess of $245,000.00) for the construction of additional improvements in the Premises (including design fees and construction costs), and for cabling and furniture installed in the Premises. The Tenant Allowance shall be paid in accordance with Schedule ”A” attached hereto and by reference made a part hereof.
Tenant Allowance. Tenant shall be responsible to design and construct all improvements within Expansion Block 5, at Tenant's sole expense, which design and construction shall be conducted in accordance with the provisions of Section 10B of the Lease. Landlord will provide Tenant with a tenant improvement allowance for construction of improvements in Expansion Block 5 in the aggregate amount of $112,375.00 ($25.21 per rentable square foot) (the "Tenant Allowance"). During construction of the improvements in Expansion Block 5 (but no more often than once per month), Tenant shall submit a bill ▇▇ bills to Landlord for reimbursement of the actual costs incurred by Tenant to date to produce plans, construct improvements, purchase furniture, fixtures or equipment or pay moving expenses. Tenant shall attach to such bill ▇▇ bills all relevant and available invoices and other evidence of the completion of work as Landlord may require in its reasonable discretion. Within fifteen (15) business days of its receipt of such bill ▇▇ bills from Tenant, provided Tenant is not in default hereunder, Landlord shall reimburse Tenant for all reasonably verifiable costs incurred by Tenant in constructing the improvements to Expansion Block 5 up to the maximum Tenant Allowance. In the event that Tenant completes construction of the improvements to Expansion Block 5 and the actual costs to complete such improvements are less than the Tenant Allowance, the Base Rent due and payable by Tenant to Landlord for Expansion Block 5 shall be reduced on a dollar for dollar basis until such Tenant Allowance is expended in full.