Common use of Tenant Allowances Clause in Contracts

Tenant Allowances. Tenant shall be entitled to a one-time tenant improvement allowance (the “General Allowance”) in the amount of Sixty-Five Dollars ($65.00) for each rentable square foot of the Premises (i.e., $9,759,815.00) for the costs relating to the initial design (including consultant and project management fees), permitting and construction of Tenant’s improvements which are affixed to the Premises (collectively, the “Tenant Improvements”) and for the “Tenant Improvement Allowance Items,” as that term is defined in Section 2.2(a) below, plus a one-time demolition allowance (the “Demolition Allowance”) in the amount of Five Dollars ($5.00) for each rentable square foot of the Premises (i.e., $750,755.00) only for the costs relating to the demolition of existing improvements, plus a one-time bathroom upgrade allowance (the “Restroom Allowance”) in the amount of One Dollar ($1.00) for each rentable square foot of the Premises (i.e., $150,151.00) only for the costs relating to any upgrades required to the restrooms within the Building when upgrades are required to cause the same to be compliance with applicable Laws. The General Allowance, Demolition Allowance and Restroom Allowance shall collectively be referred to herein as the “Tenant Improvement Allowance”. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance except as expressly provided in this Work Letter. Tenant shall have no claim for any Tenant Improvement Allowance, and Landlord shall have no obligation to reimburse Tenant for any Tenant Improvement costs, that have not been requested in writing by the date which is twenty-four (24) months following the Delivery Date.

Tenant Allowances. (A) Landlord shall provide to Tenant an allowance equal to the product of (i) $28.00 and (ii) the Total Rentable Floor Area of the Premises (the "Tenant Improvement Allowance"). The Tenant Improvement Allowance shall be used and applied by Tenant solely on account of the cost of the Tenant Improvement Work. For the purposes hereof, the costs to which the Tenant Improvement Allowance may be applied hereunder shall include the cost of leasehold improvements but not the cost of any of Tenant's personal property, trade fixtures or trade equipment or any so-called soft costs; provided, however, that a portion of the Tenant Improvement Allowance in an amount not to exceed the product of (x) $5.00 and (y) the Rentable Floor Area of the Premises may be applied towards the costs incurred by Tenant (as evidenced by paid invoices or receipts submitted by Tenant to Landlord) in preparing architectural and engineering plans in connection with the Tenant Improvement Work and in installing wiring and cabling for Tenant's telecommunications equipment in the Premises. In addition, Landlord shall provide to Tenant (i) an allowance of Two Hundred Fifty Thousand and 00/100 Dollars ($250,000.00) (the "Restroom Allowance") to be used solely towards the costs of upgrades (including, without limitation, upgrades necessary to comply with the applicable provisions of the Americans With Disabilities Act (the "ADA")) to the existing restrooms in the Premises and the construction of a new restroom on the first floor of Building C (the "Restroom Work") as part of the Tenant Improvement Work and (ii) an allowance of Fifty Thousand and 00/100 Dollars ($50,000.00) (the "Water Fountain and Fire Alarm Allowance") to be used solely towards the costs of installing ADA-compliant water fountains and fire alarm strobes in the Premises (the "Water Fountain and Fire Alarm Work") as part of the Tenant Improvement Work. In connection therewith, it is understood and agreed that (x) the Restroom Allowance may be applied solely towards the cost of the Restroom Work and the Water Fountain and Fire Alarm Allowance may be applied solely towards the cost of the Water Fountain and Fire Alarm Work, and (y) to the extent Tenant does not fully utilize the Restroom Allowance and/or the Water Fountain and Fire Alarm Allowance, as the case may be, Tenant shall not be entitled to apply any unused portions of the applicable allowance towards the costs of any other portion of the Tenant Improvement Work nor shall Tenant be entitled to any credit on account thereof; provided, however, that notwithstanding the foregoing, Tenant shall be entitled to a one-time tenant improvement allowance (the “General Allowance”) in the amount of Sixty-Five Dollars ($65.00) for each rentable square foot apply any unused portions of the Premises (i.e., $9,759,815.00) for Water Fountain and Fire Alarm Allowance towards the costs relating to the initial design (including consultant and project management fees), permitting and construction of Tenant’s improvements which are affixed to the Premises (collectively, the “Tenant Improvements”) and for the “Tenant Improvement Allowance Items,” as that term is defined in Section 2.2(a) below, plus a one-time demolition allowance (the “Demolition Allowance”) in the amount of Five Dollars ($5.00) for each rentable square foot cost of the Premises (i.e., $750,755.00) only for the costs relating to the demolition of existing improvements, plus a one-time bathroom upgrade allowance (the “Restroom Allowance”) in the amount of One Dollar ($1.00) for each rentable square foot of the Premises (i.e., $150,151.00) only for the costs relating to any upgrades required to the restrooms within the Building when upgrades are required to cause the same to be compliance with applicable LawsWork. The General Allowance, Demolition Allowance and Restroom Allowance shall collectively be referred to herein as the “Tenant Improvement Allowance”. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance except as expressly provided in this Work Letter. Tenant shall have no claim for any Tenant Improvement Allowance, the Restroom Allowance and Landlord shall have no obligation the Water Fountain and Fire Alarm Allowance are hereinafter referred to reimburse collectively as the "Tenant for any Tenant Improvement costs, that have not been requested in writing by the date which is twenty-four (24) months following the Delivery DateAllowances."

Tenant Allowances. (a) Except as hereinafter provided and provided that Tenant has not elected to exercise its option to reduce the Term so that the Expiration Date is November 30, 2019 in accordance with Section 3(e)(ii) above, Landlord shall be entitled make available to a one-time tenant improvement Tenant an allowance equal to $10.00 per square foot of Rentable Area of the Premises excluding the First Floor Premises (the “General Future Allowance”) to be used solely to reimburse Tenant for the cost of all leasehold improvements made by Tenant for any space under lease by Tenant in the amount of Sixty-Five Dollars ($65.00) for each rentable square foot Aspen Lake One, Tower Point or Tower of the Premises (i.e.Hills, $9,759,815.00) for the including, but not limited to, permitting expenses, building standard improvements, all costs relating to the initial design architectural and engineering services, and a one percent (including consultant 1%) construction management fee payable to Landlord for plan review and project management fees), permitting and construction of other necessary coordination between Tenant’s improvements which are affixed to contractor and the Premises (collectively, the “Tenant Improvements”Landlord) and for the “Tenant Improvement Allowance Items,” as that term is defined in Section 2.2(a) below, plus a one-time demolition allowance (the “Demolition AllowanceQualified Expenses”); provided, however, at least twenty percent (20%) in the amount of Five Dollars ($5.00) for each rentable square foot of the Premises (i.e.Future Allowance may only be utilized by Tenant for Qualified Expenses incurred by Tenant after December 1, $750,755.00) only for the costs relating to the demolition of existing improvements2019 but before November 30, plus a one-time bathroom upgrade allowance (the “Restroom Allowance”) in the amount of One Dollar ($1.00) for each rentable square foot of the Premises (i.e., $150,151.00) only for the costs relating to any upgrades required to the restrooms within the Building when upgrades are required to cause the same to be compliance with applicable Laws. The General Allowance, Demolition Allowance and Restroom Allowance shall collectively be referred to herein as the “Tenant Improvement Allowance”. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance except as expressly provided in this Work Letter2020. Tenant shall have no claim for any Tenant Improvement Allowance, hereby acknowledges and agrees that Landlord shall have no obligation to reimburse make the Future Allowance available, or to pay any portion of the Future Allowance, to Tenant if Tenant exercises its option in accordance with Section 3(e)(ii) above to reduce the Term so that the Expiration Date is November 30, 2019 and therefore, any Qualified Expenses, whether incurred by Tenant prior to or after such exercise, shall not be payable to Tenant if Tenant exercises its option to reduce the Term. Further, Tenant hereby acknowledges and agrees that Landlord shall have no obligation to make the Future Allowance available, or to pay any portion of the Future Allowance, to Tenant with respect to Suite 350 if Tenant exercises its option in accordance with Section 3(e)(i) above to terminate its obligations with respect to Suite 350 and therefore, any Qualified Expenses with respect to Suite 350, whether incurred by Tenant prior to or after such exercise, shall not be payable to Tenant if Tenant exercises its option to terminate its obligations with respect to Suite 350. All leasehold improvements must be made in accordance with, and subject to, the terms and conditions of the Work Letter attached to the Lease as Exhibit D, except all references therein to the Premises shall be deemed references to the portion of the Premises to which the tenant improvements are being made and the amount of the Allowance shall be the portion of the Future Allowance then remaining. The Future Allowance shall be disbursed in accordance with Exhibit D attached to the Lease; provided, however, for Qualified Expenses incurred by Tenant on or before December 1, 2019, Landlord shall not be obligated to pay any portion of the Future Allowance to Tenant Improvement costsprior to December 1, that 2019, and such Future Allowance may be applied by Tenant to reimbursements of such Qualified Expenses paid for by Tenant on or before December 1, 2019. Any unused portion of the Future Allowance remaining as of May 31, 2020 shall inure solely to the benefit of Landlord, and Tenant shall have not been requested in writing by the date which is twenty-four (24) months following the Delivery Dateno rights to any credit, offset, abatement or payment with respect thereto.