Common use of Tenant Improvement Allowance Clause in Contracts

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Office Lease (Atara Biotherapeutics, Inc.)

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Tenant Improvement Allowance. Tenant acknowledges that it is currently in possession of the Premises and is agreeing to an extension of the Term as provided herein with the Premises being accepted in "as is" condition as of the date of this Sixth Amendment. Notwithstanding the foregoing, Tenant, at Tenant's sole cost and expense (except to the extent of Landlord's Contribution, hereinafter defined), shall be responsible for making any alterations or improvements to the Premises desired by Tenant, subject to Landlord's approval, as hereinafter provided. Tenant shall be entitled prepare complete construction drawings and specifications (“Tenant’s Plans”) for the improvements to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") Premises desired by Tenant, and submit the same to Landlord for Landlord’s approval in accordance with the amount set forth in provisions of Section 12 7.2 of the Summary Original Lease within sixty (60) days of the date of this Sixth Amendment. Landlord shall respond to Tenant's Plans (either by approval·, request for additional information, request for-revision or communication of a reason for failure to approve) within seven (7) Business Days after the costs relating to the initial design and construction date of Landlord's receipt of Tenant's improvementsPlans (or any resubmission) plus such additional period of time as may be necessary for review of Tenant's Plans by a third-party architect, engineer or other consultant if Landlord reasonably determines that any aspect of Tenant's Plans requires such third-party review. Unless Landlord shall have approved all of Tenant's Plans, Tenant shall deliver to Landlord such additional information, documentation and/or revisions to Tenant's Plans as are necessary to obtain Landlord’s approval of Tenant's Plans and this process shall continue until Tenant's Plans are approved by Landlord. All work to be done at the Premises shall meet City and County code requirements and be performed under a valid building permit by a contractor licensed to work in the State of Florida. Upon approval of Tenant's Plans by Landlord Tenant shall cause its contractor(s) (selected by Tenant, but subject to approval by Landlord, which approval shall not be unreasonably withheld or delayed) to perform the work and improvements described on such approved Tenant's Plans (collectively, “Tenant's Work”) diligently and continuously until Tenant's Work is completed. Tenant's Work shall be performed in accordance with the 5267-003 // 206,540.V6 [003] provisions of Section 7.2 of the Original Lease. Tenant agrees (i) to cease promptly upon notice from Landlord any activity or work which has not been approved by Landlord or is not in compliance with the provisions of the Lease, and (ii) to comply and cause its contractors to comply promptly with all reasonable procedures and regulations prescribed by Landlord from time to time. Tenant's Work shall be considered substantially complete and the “Substantial Completion Date” shall occur as of the first day as of which all of the following requirements have ·been met: (i) all Tenant's Work shown and described in Tenant’s Plans has been completed in accordance with Tenant's Plans, with only punch-list items (i.e., minor and insubstantial details of decoration or mechanical adjustment) excepted; (ii) all electrical, mechanical, plumbing and HVAC facilities installed by Tenant, if any, are permanently affixed functioning properly; (iii) the Premises are reasonably free of debris and construction materials; (iv) if applicable, Tenant' s architect has issued' a certificate of substantial completion on the standard AIA form, which has been delivered to Landlord; and (v) if applicable, all required governmental inspections have· been successfully completed and any final or amended certificate of occupancy required as a result of Tenant's Work ,has been issued and a copy thereof delivered to Landlord. Provided the Lease is in full force and effect and subject to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to provisions of this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance. In additionSection 8 of this Sixth Amendment, Landlord shall contribute provide Tenant with an allowance (“Landlord's Contribution”) equal to-the lesser of the cost of Tenant’s Work or $225,732.00. For purposes of this Section 8, the “cost” of Tenant's Work shall mean the actual third-party costs incurred by Tenant in connection with performing Tenant's Work including, without limitation, all fees and expenses of Tenant's architectural and engineering professionals all contractor charges for the cost of labor and materials, profit, general conditions and overhead and supervision, all filing fees and other permitting costs and, subject to a limit of 5% of such total costs, and fees paid to independent construction managers, if any. Tenant may requisition Landlord for payment of Landlord’s Contribution monthly (hereinafter “Progress Payments”) provided that Landlord may withhold ten percent (10%) of the amount due for Tenant's Work on each Progress Payment paid prior to the Substantial Completion Date until the Final Payment (hereinafter defined). Each requisition for a Progress Payment shall include (i) a detailed breakdown of the cost of Tenant's Work included in the requisition, (ii) copies of invoices from Tenant's contractors, suppliers and others, as applicable, substantiating such costs, and (iii) executed waivers of mechanic’s or material supplier’s liens (in such form as Landlord or its lenders shall reasonably require) on account of any labor and/or materials furnished by such party through the date of the requisition (provided that any such waiver may be conditioned upon receipt of the amount requested for such party in the requisition). Landlord shall make each Progress Payment (in an amount not to exceed $0.15 per rentable square foot the lesser of the Premises ("Landlord's Drawing Contribution"x) toward the cost of one Tenant's Work, as evidenced by the documentation submitted with the applicable requisition, or (1y) preliminary space plan the balance of Landlord’s Contribution then remaining, less amounts retained by Landlord as hereinabove provided) to Tenant (or at Tenant' s request, to its 5267-003 // 206,540.V6 [003] general contractor) within thirty (30) days after Landlord's receipt of a Progress Payment requisition with all required supporting documentation. After the Substantial Completion Date shall have occurred, Tenant may submit a final requisition to Landlord (the “Final Payment”). Such requisition shall include · (i) a final, detailed breakdown of the cost of Tenant's Work, (ii) final mechanic’s and material supplier’s lien waivers (provided that any such waiver may be prepared by "Architect/Space Planner," conditioned upon receipt of the amount requested for such party in the applicable requisition) and (iii) all other documentation required for the Progress Payment pursuant to the preceding paragraph as that term is defined in Section 3.1, below, and no to the portion of Tenant's Work covered by the Final Payment. Landlord shall make payment of the Final Payment in an amount equal to the lesser of (x) the unreimbursed cost of Tenant's Work, as evidenced by the documentation submitted with the requisition for the Final Payment or (y) the balance of Landlord's Drawing ContributionContribution then remaining, if anyany (including any retained amounts), remaining to Tenant (or at Tenant's request, to its general contractor) within thirty (30) days after Landlord's receipt of a requisition for the completion Final Payment with all required supporting documentation. Notwithstanding the foregoing. Landlord shall have no obligation to make any Progress Payment or the Final Payment, (a) if (or to the extent) Tenant shall not have submitted paid receipts for Tenant's Work together with all required supporting documentation by December 31, 2022, time being of the essence, (b) at a time when there exists an event of default and/or (c) if the Lease shall have terminated. Any balance of Landlord's Contribution which Landlord is not required to pay to Tenant Improvements (or its general contractor, as applicable) pursuant to this Section 8 shall be available for use by Tenantthe property of Landlord. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, Both Landlord and Tenant shall have no further rights appoint one individual as its “Construction Representative” who is authorized to act on its behalf in connection with respect theretoany matters arising pursuant to this Section 8. Any The Construction Representative may be changed from time to time by notice hereunder from the then current Construction Representative to the other party's Construction Representative or by notice from Landlord or Tenant Improvements that require pursuant to Section 19.5 of the use Original Lease. The initial Construction Representative of Building risers, raceways, shafts and/or conduits, the Landlord shall be subject to Landlord's reasonable rules, regulationsAvison Young, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms Xxxxxxxxx Xxxx. Notwithstanding Section 19.5 of the Original Lease; provided, howeverany notices or other communication under this Section 8 may be made by letter or other writing sent by U.S. mail or email, Landlord may, provided the communication is made by written notice to Tenant prior one party's Construction Representative to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenantother party's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsConstruction Representative.

Appears in 1 contract

Samples: Lease (Axogen, Inc.)

Tenant Improvement Allowance. Tenant Landlord shall be entitled responsible for creating a "passthrough" in the hallway between Suite 504 and Suite 500 once Suite 500 becomes available. On or before their respective commencement dates, Landlord shall deliver to a one-time tenant improvement Tenant Suite 504 and Suite 500 in their current "As Is" condition, and, except as provided herein, Landlord shall have no obligation whatsoever to provide any alterations or improvements with regard to the Additional Premises. Landlord shall provide Tenant with an allowance (the "Tenant Improvement Allowance") of $4,680.00 for Xxxxx 000, and $14,210.00 for Xxxxx 000, for Tenant's required work in those suites which may be used by Tenant for any improvement it makes to those suites (provided the same is made in accordance with the Lease). The aggregate Tenant Improvement Allowance amount set forth may be allocated by Tenant to improvement work in Section 12 Suites 500 and 504 as Tenant may elect (e.g., Tenant may elect to shift some of the Summary allowance allocated to Suite 500 over to Suite 504), provided that Landlord shall not be required to make available the amounts described above until following the commencement of the Lease for each respective Suite (i.e., Landlord shall not be required to make available the $14,210.00 amount allocated to Suite 500 until after the lease commences with respect to Suite 500). Tenant shall construct the tenant improvements for the costs relating Additional Premises in accordance with all applicable laws and codes and pursuant to plans and using such contractors as shall be approved in advance by Landlord. Landlord shall pay out the initial design Tenant Improvement Allowance as any such work is completed based upon the stage of completion and construction of provided Landlord has received bills and lien releases from Tenant's improvementscontractor(s) and/or suppliers, which are permanently affixed subject to a ten percent (10%) retention to be withheld until final, lien-free completion of the Premises (the "work. Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter pay all costs for constructing its improvements in a total amount which exceeds excess of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available pay for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, all applicable fees and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementspermits.

Appears in 1 contract

Samples: Lease (Instant Video Technologies Inc)

Tenant Improvement Allowance. Tenant shall be entitled to use a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of One Million Eight Hundred Forty-One Thousand Four Hundred and 00/100 Dollars ($1,841,400.00) (i.e., Thirty and 00/100 Dollars ($30.00) per rentable square foot of the Summary entire Premises), for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (i.e., the Existing Premises and the Expansion Premises) or which are "Tenant Improvement Allowance Items," as that term is defined in Section 2.2.1, below (collectively, the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or otherwise in connection with Tenant's construction of the Tenant Improvements or any Tenant Improvement Allowance Items, as defined below, in a total amount which exceeds the sum of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot except as required by the warranty provisions of the Premises ("Landlord's Drawing Contribution") toward the cost of one (Section 1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlordabove. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord maynotwithstanding any contrary provision contained in the Lease, by written notice to Tenant prior to upon the end of the Lease Term, expiration or given following any earlier termination of this Leasethe Expansion Term, require Tenant, at Tenant's expense, Tenant shall not be required to remove any the Tenant Improvements and to repair any damage to installed within the Premises which are installed in accordance with the "Final Working Drawings", as that term is defined in Section 3.3, below. The Tenant Improvement Allowance shall be available for use by Tenant from and Building caused by such removal after the Expansion Commencement Date, and return the affected any portion of the Premises Tenant Improvement Allowance that is not disbursed or allocated for disbursement by March 31, 2016, shall revert to their condition existing prior to the installment of such Landlord and Tenant Improvementsshall have no further rights with respect thereto.

Appears in 1 contract

Samples: Lease (Portola Pharmaceuticals Inc)

Tenant Improvement Allowance. Landlord agrees to provide an allowance to Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant ’s Expansion Work Letter in a total amount which exceeds the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not equal to exceed Thirty-Five Dollars ($0.15 35.00) per rentable square foot of the Premises Expansion Area ("Landlord's Drawing Contribution") toward the “Construction Allowance”). The Construction Allowance may be allocated by Tenant in its sole discretion to the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, belowTenant’s Work, and no portion shall be used solely and entirely for space planning, preparation of Tenant’s Plans and construction drawings, architectural, project management and engineering fees, permitting, demolition costs and construction costs to construct Tenant’s Expansion Work. The Construction Allowance shall be requested by and disbursed to Tenant in the following manner: During the construction of any of Tenant’s Expansion Work with respect to which Tenant desires to have the Construction Allowance applied, and in accordance with the commercially reasonable terms and conditions typically imposed upon a Landlord pursuant to a construction loan agreement, such as, without limitation, retainage, lien waiver, and other requisition conditions, Tenant shall, on a monthly basis (as the Tenant’s contractor submits to Tenant its application for payment), deliver to Landlord a requisition for payment showing the costs of the Landlord's Drawing Contribution, if any, remaining Tenant’s Expansion Work in question and the amount of the current payment requested from Landlord for disbursement from the Construction Allowance within thirty (30) days after receipt of Tenant’s requisition. Payments made on account of Tenant’s requisitions shall be made from the Construction Allowance. Following the completion of any such Tenant’s Expansion Work, Tenant shall deliver to the Tenant Improvements shall be Landlord, within ninety (90) days of completion, a statement showing the final costs of such Tenant’s Expansion Work, the amounts paid to date, or on behalf of the Tenant, and any amounts available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary release of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementsretainage.

Appears in 1 contract

Samples: Lease (Agios Pharmaceuticals Inc)

Tenant Improvement Allowance. Tenant Pursuant to the Second Amendment, Lessor made available to Lessee an Improvement Allowance of Five Million Dollars ($5,000,000). Pursuant to the Third Amendment, Lessor made an additional Improvement Allowance of Five Million Dollars ($5,000,000) available to Lessee. Lessor hereby makes available to Lessee an additional improvement allowance equal to Five Million Dollars ($5,000,000) to be used for certain capital improvements to the Facilities. Such additional improvement allowance shall be entitled used only for completion of capital improvements to a one-time tenant the Facilities which shall be approved and constructed in accordance with the terms and provisions of Paragraph 2 of the Second Amendment. The term “Capital Improvements” as and where used in Paragraph 2 of the Second Amendment shall be deemed to include such capital improvements. The additional improvement allowance (shall be requested and disbursed in accordance with the "Tenant provisions of Paragraph 3 of the Second Amendment. The term “Improvement Allowance") ”, as and where used in the amount set forth in Section 12 Paragraph 3 of the Summary for the costs relating Second Amendment, shall be deemed to include and refer to the initial design and construction of Tenant's improvementsadditional improvement allowance provided for in this paragraph, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as except that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements such additional improvement allowance shall be available for use Capital Improvements completed on or before December 31, 2010 and the final request for disbursement shall be no later than March 31, 2011. The annual Base Rent payable under the Existing Master Lease shall be increased by Tenantthe Improvement Allowance Adjustment Amount for each disbursement of such additional improvement allowance as provided in Paragraph 4 of the Second Amendment. In the event that Lessor fails to pay Lessee any installment request for the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary additional improvement allowance as provided in Paragraph 3 of the Lease Commencement DateSecond Amendment, then such unused amounts shall revert to Landlord, and Tenant Lessee shall have no further the rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list remedies provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms in Paragraph 4 of the Lease; provided, however, Landlord may, by written notice to Tenant prior to Second Amendment and the end provisions of Paragraph 4 of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, Second Amendment shall apply to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment Lessee’s exercise of such Tenant Improvementsrights and remedies.

Appears in 1 contract

Samples: Master Lease (Omega Healthcare Investors Inc)

Tenant Improvement Allowance. Tenant shall have the right to construct fixed and permanent improvements in the Premises pursuant to plans approved by Landlord, which approval shall not be entitled to a one-time tenant improvement allowance unreasonably withheld, conditioned or delayed (the "Tenant Improvement Allowance") Improvements”), including, without limitation, with respect to HVAC components connecting to the cleanroom in the amount set forth Premises, in Section 12 accordance with the terms of the Summary Lease including, without limitation, Section 9 thereof. So long as no Event of Default has occurred and remains uncured, Landlord will pay Tenant for the Tenant’s documented costs relating to the initial design and expenses incurred in connection with Tenant’s design, permitting and construction of Tenant's improvementsthe Tenant Improvements, which are permanently affixed not to exceed in the Premises aggregate $2,568,480.00 (the "Tenant Improvements"“TI Allowance”). In no event Tenant may apply for payments of the TI Allowance on a monthly draw basis. Each application for a payment out of the TI Allowance shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds accompanied by reasonable documentation that the application portion of the Tenant Improvement AllowanceImprovements has been completed and shall include commercially reasonable, conditional lien releases. In addition, Landlord shall contribute an amount will pay the requested portion of the TI Allowance to Tenant (not to exceed $0.15 per rentable square foot 2,568,480.00) within thirty (30) days of the Premises ("Landlord's Drawing Contribution") toward the cost receipt of one (1) preliminary space plan invoice from Tenant. If Landlord both fails to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no timely pay any properly requested portion of the Landlord's Drawing ContributionTI Allowance and fails to dispute all or any portion of the applicable disbursement request from Tenant, if any, remaining after then Tenant may offset any undisputed portion of such amount against next owing installments of Rent. Tenant shall be responsible for any cost of the Tenant Improvements that exceeds the TI Allowance. Upon completion of the Tenant Improvements, Tenant shall provide Landlord as applicable with “as built” plans for the same. Upon the expiration of the Term or earlier termination of the Lease, the Tenant Improvements shall be and remain the property of Landlord and Tenant shall not remove same. Any portion of the TI Allowance which has not been properly requested by Tenant from Landlord on or before the date which is 36 months after the date on which this Amendment has been executed by Tenant shall be forfeited and shall not be available for use by Tenant. In The Tenant Improvements shall be competitively bid by Tenant and Landlord shall have the event that right to approve the general contractor engaged by Tenant to construct the Tenant Improvement Allowance Improvements, which approval shall not be unreasonably withheld, conditioned or delayed. Prior to the commencement of construction of any Tenant Improvements, Tenant shall deliver a certificate of insurance naming Landlord's Drawing Contribution is not fully utilized , its officers, directors, employees, managers, agents, sub- agents, constituent entities and lease signators as an additional insured with respect to the insurance required to be carried by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert pursuant to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms Section 9 of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Lease (Biolife Solutions Inc)

Tenant Improvement Allowance. Landlord shall provide to Tenant shall be entitled to a one-time tenant improvement allowance Tenant Improvement Allowance (the "Tenant Improvement Allowance"”) equal to $3.33 per square foot of Rentable Square Feet (98,223rsf) or $327,410.00 to be paid by Landlord to Tenant within thirty (30) days upon receipt of invoice(s) and proper documentation, including but not limited to lien waivers from contractors and subcontractors. Tenant shall bear the entire cost of performing the Work (including, without limitation, design of the Work and preparation of the Working Drawings, costs of construction labor and materials (the “Construction Hard Costs”), electrical usage during construction (allocated to Tenant as reasonably agreed by Landlord and Tenant), janitorial services. signage, fees, and related non-ad valorem taxes and insurance costs, all of which costs are herein collectively called the “Total Construction Costs”) in the amount set forth in Section 12 excess of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. Landlord or its designee shall coordinate the relationship between the Work, the Building, and the Building Systems. In additionconsideration for Landlord’s services, Tenant shall pay to Landlord shall contribute an amount not a construction supervision fee equal to exceed $0.15 per rentable square foot three and one half percent (3.5%) of the Total Construction Hard Costs for all improvements and alterations made to the Premises ("Landlord's Drawing Contribution") toward other than the cost Shell Construction, which fee shall be paid from the Tenant Improvement Allowance. Tenant must use such allowance before the end of one (1) preliminary space plan June 30, 2007 or Tenant shall have deemed to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no forfeit all rights to any unused portion of the Landlord's Drawing Contribution, if any, remaining after the completion Tenant Improvement Allowance. The entire $3.33 per Rentable Square Feet of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect theretomust be used for Construction Hard Costs. Any Tenant Improvements that require provision herein to the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, contrary notwithstanding including the requirement that any cabling vendor must be selected from a list provided by Landlordpreceding sentence, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which may use the Tenant Improvement Allowance has been made available for the purpose of purchasing among other things, workstations and furniture (“Premises Personal Property”) for the Premises, the ownership of which shall be deemed Landlord's property under the terms of the Lease; providedvest in Tenant, provided however, Landlord may, by written notice in the event Tenant elects not to Tenant prior to renew the Lease at the end of the Lease Terminitial Term Tenant shall not remove the Premises Personal Property purchased through use of the Tenant Improvement Allowance, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, but rather shall assign to remove any Tenant Improvements and to repair any damage Landlord title to the Premises and Building caused by such removal and return the affected portion Personal Property through execution of the Premises to their condition existing prior to the installment a Xxxx of such Tenant ImprovementsSale.

Appears in 1 contract

Samples: Lease Agreement (Realpage Inc)

Tenant Improvement Allowance. Subject to the terms and conditions of ---------------------------- this paragraph 3, Landlord shall pay on behalf of Tenant shall be entitled up to a onemaximum amount of three million four hundred sixty thousand five hundred fifty-time tenant improvement allowance five dollars ($3,460,555) for the construction of Tenant Improvements in the Premises (the "Tenant Improvement Allowance") ), including, without limitation, all architectural and engineering fees incurred in connection therewith, project and construction management fees, real property improvements, and all sums payable to Landlord as provided in paragraph 4 below. The Tenant Improvement Allowance shall not be used for equipment, furniture or cabling. The Tenant Improvement Allowance shall be paid as follows: upon the amount set forth in Section 12 presentation of invoices to Landlord from Tenant or the person performing the work or rendering the services or providing the materials and such supporting documentation as Landlord may reasonably require, including, without limitation, identification of the Summary for work completed and/or material supplied, mechanic lien releases and certificates of payment issued by the costs relating Tenant's Architect and Tenant's designated representative, Landlord shall pay such invoices on or before the fifteenth (15th) day of the following month to the initial design person performing the work or rendering the services or providing the materials. Notwithstanding anything to the contrary contained herein or in this Lease, the obligation of Landlord to make any one or more payments pursuant to the provisions of this paragraph 3 shall be suspended without further act of the parties during any such time as there exists an Event of Default under this Lease. The Tenant Improvement Allowance must be utilized by Tenant, if at all, prior to June 30, 2000. As of such date, Tenant shall forfeit any remaining balance of the Tenant Improvement Allowance that Tenant has not utilized pursuant to the terms of this Exhibit C. Tenant shall bear the cost of any and construction of Tenant's improvements, which are permanently affixed all Tenant Improvements to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds excess of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Office Lease (Northpoint Communications Group Inc)

Tenant Improvement Allowance. Commencing as of the Possession Date, Tenant shall be entitled to a one-time tenant improvement allowance (use the "Tenant Improvement Allowance") in the amount set forth , as defined in Section 12 5 of the Summary to this Lease, for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises or which are "Tenant Improvement Allowance Items," as that term is defined in Section 2.2.1, below (collectively, the "Tenant Improvements"). In addition to the Tenant Improvement Allowance Landlord will reimburse Tenant in an amount not to exceed $5,360,530.00 (the "Base Building Allowance"), for actual costs incurred by Tenant in connection with certain infrastructure work (that is approved in advance by Landlord, such approval not to be unreasonably withheld, conditioned or delayed) (the “Base Building Work”) to be performed by Tenant with respect to the HVAC system, including, which may include (subject to Landlord’s approval, such approval not to be unreasonably withheld, conditioned or delayed), without limitation, installation, repair and/or replacement of HVAC systems, ductwork, serving a 1,000 Kw generator and related equipment and piping, architectural finishes, manufacturing and lab utility generation and distribution, power distribution, air filtration and purification, electrical work, and other systems and equipment that exclusively serve the Premises (the "Base Building Costs"), provided that Tenant separately accounts for such Base Building Costs. In connection with the foregoing, Landlord and Tenant agree to work in good faith with one another to develop a mutually agreeable scope of upgrades and modifications to the HVAC system serving the Building. The Base Building Allowance will be disbursed in the same manner as Landlord disburses the Tenant Improvement Allowance pursuant to this Tenant Work Letter. Such Base Building Allowance work shall (i) be constructed pursuant to the Tenant Work Letter, (ii) be deemed to be a part of the Tenant Improvements, and (iii) be deemed to be a component of the Tenant Improvement Allowance Items, but shall be accounted for and disbursed separately from the Tenant Improvement Allowance. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or otherwise in connection with Tenant's construction of the Tenant Improvements or any Tenant Improvement Allowance Items, as defined below, in a total amount which exceeds the sum of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises Base Building Allowance and Additional TI Allowance ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord). All Tenant Improvements that have been paid for which with or reimbursed from the Tenant Improvement Allowance, Base Building Allowance, Additional TI Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant given concurrently with Landlord's approval of the "Final Working Drawings", as that term is defined in Section 3.3, below, require Tenant, prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected removal. Any portion of the Premises Tenant Improvement Allowance that is not disbursed or allocated for disbursement by December 31, 2022 (the “Allowance Deadline”), shall revert to their condition existing prior to the installment of such Landlord and Tenant Improvements.shall have no further rights with respect thereto. EXHIBIT B -1- [Britannia Oyster Point I] [Nkarta, Inc.]

Appears in 1 contract

Samples: Lease (Nkarta, Inc.)

Tenant Improvement Allowance. Lessee, at its sole cost and expense, will construct any desired improvements to the Premises for Lessee’s occupation and use (each a “Tenant shall Improvement” and collectively the “Tenant Improvements”), but Lessee will be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") reimbursement by Lessor in the amount set forth in Section 12 form of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In additionLessee may not make or cause to be made any Tenant Improvements without obtaining Lessor’s prior written consent, Landlord which consent may not be unreasonably withheld. Lessor retains the right, as a condition to any consent granted under this Section, to place conditions on its consent such as, but not limited to, requiring that any Tenant Improvements be constructed by Lessor’s pre-approved contractors, requiring that Lessee post sufficient security to assure completion of the Tenant Improvement beyond the Lessor’s Tenant Improvement Allowance, and conditions relating to insurance required to be carried by Lessee’s contractors. Subject to the terms and conditions of this Second Amendment, Lessee is solely responsible for all costs associated with any Tenant Improvements, and once any Tenant Improvements are commenced, Lessee must diligently and continuously pursue their completion. All Tenant Improvements must be performed in a good and workmanlike manner and in compliance with all laws, rules, ordinances, and regulations (now or hereafter in effect) of all governmental agencies and authorities. Further, Lessee shall contribute comply with and shall cause its contractors to comply with the Construction Rules and Regulations attached hereto as Exhibit “K” and incorporated herein by this reference. Subject to Lessor’s prior approval, which approval shall not be unreasonably withheld, conditioned, or delayed, with respect to architectural and construction work to be performed at the Premises, Lessee shall have the right to undertake both “building standard” and “non-building standard” improvements. Lessee acknowledges and agrees that any review by Lessor of Lessee’s plans and specifications and/or right of approval exercised by Lessor with respect to Lessee’s architect and/or contractor is for Lessor’s benefit only and Lessor shall not, by virtue of such review or right of approval, be deemed to make any representation, warranty or acknowledgment to Lessee or to any other person or entity as to the adequacy of Lessee’s plans and specifications or as to the ability, capability or reputation of Lessee’s architect and/or contractor. Commencing on (i) the Effective Date and continuing through the last day of the twelfth calendar month thereafter (the “First Improvement Period”), Lessor shall reimburse Lessee for the cost to construct any Tenant Improvements in the Premises (i.e., the Original Premises and/or the First Expansion Premises) commenced during the foregoing period, in cash in an amount equal to $35.00 per square foot of Rentable Area of the Original Premises and the First Expansion Premises, and (ii) the Second Expansion Premises Commencement Date and continuing through the last day of the twelfth calendar month thereafter (the “Second Improvement Period”), Lessor shall reimburse Lessee for the cost to construct any Tenant Improvements in the Premises (i.e., the Original Premises, the First Expansion Premises, and/or the Second Expansion Premises) completed during the foregoing period in cash in an amount equal to $35.00 per square foot of Rentable Area of the Second Expansion Premises ($35.00 x 10,000) for a total of $350,000.00 (collectively, the “Tenant Improvement Allowance” and each disbursement of the Tenant Improvement Allowance shall be hereinafter referred to as an “Allowance Installment”). Notwithstanding anything set forth herein to the contrary, not more than $12.00 out of the $35.00 per square foot allotment shall be used to exceed pay the cost of Lessee’s personal property, such as, furniture, fixtures and equipment (the “Allotment Restriction”). In other words, $0.15 23.00 out of the $35.00 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward allotment must be applied towards the cost of designing and constructing the Tenant Improvements. Tenant Improvements shall include but are not limited to space planning costs, design and architectural fees, engineering costs, signage costs, the cost of permits, general costs, and costs to install telecom, back-up power, and cabling. Lessee shall only be entitled to payment by Lessor of an Allowance Installment if and when each and every one of the following five (15) preliminary space plan conditions (collectively, the “Allowance Conditions”) are fully satisfied with respect to those Tenant Improvements that Lessee is seeking reimbursement for: (i) Lessee is not in default or breach in any material manner under the Lease; (ii) Lessee has provided Lessor with a written request for the applicable Allowance Installment; (iii) Lessee has provided Lessor with proof of expenditures for the amount to be prepared by "Architect/Space Planner," as reimbursed under the applicable Allowance Installment; (iv) the proof of expenditure show that term Lessee is defined in Section 3.1compliance with the Allotment Restriction; and (v) Lessee has provided Lessor with full and final unconditional lien waivers from each and every one of Lessee’s contractors and subcontractors and suppliers who furnished labor and/or materials in connection with the performance of the applicable Tenant Improvements. If and when each and every one of the Allowance Conditions has been fully satisfied, below, and no Lessor will disburse to Lessee the requested Allowance Installment within fifteen (15) business days thereafter. Lessee will only be entitled to that portion of the Landlord's Drawing Contribution, if any, remaining after the completion Tenant Improvement Allowance for which Lessee has provided proof of expenditures and any of Lessee’s expenditures in excess of the Tenant Improvement Allowance and/or in excess of the Allotment Restriction will be at Lessee’s sole cost and expense. Lessor shall not charge Lessee a supervision or management fee in connection with Lessee’s construction of the Tenant Improvements. Lessee may request (and Lessor agrees to do so) that Lessor apply any unused portion of the Tenant Improvement Allowance (i.e., that portion of the Tenant Improvement Allowance not applied towards the cost of Tenant Improvements during the respective time period) towards the next payment(s) of Rent due under the Lease until the applicable Tenant Improvement Allowance is used in full. Notwithstanding anything to the contrary, the parties acknowledge that related to the (vacant shell) ground floor area of Ferry II Building consisting of approximately 8,434 square feet of Rentable Area, no HVAC equipment is currently installed to service this area. Lessor shall be available responsible for use the payment of installing standard HVAC equipment adequate to accommodate building standard office load in this area in an amount up to and not to exceed Ten and 00/100 Dollars ($10.00) per square foot of Rentable Area. Notwithstanding anything set forth herein to the contrary, the Tenant Improvement Allowance with respect to the Second Expansion Premises only shall be reduced on a dollar-per-dollar basis in the amount of the actual costs, fees, and expenses incurred by TenantLessor to enter into lease terminations and to relocate the tenants who currently occupy the Second Expansion Premises. Lessee acknowledges that the relocation costs for individual tenants may vary depending on the specific demands of such tenant. For example, the aggregate cost to relocate one tenant may equal $10.00 per square foot, whereas, the aggregate cost to relocate another tenant may equal $20.00 per square foot. Accordingly, Lessee and Lessor agree that there shall be no per square foot cap on the cost to relocate such tenants. Rather, the actual costs, fees, and expenses incurred by Lessor to enter into lease terminations and to relocate the tenants who currently occupy the Second Expansion Premises shall be pooled together to create a single figure, such figure being hereinafter referred to as Lessor’s “Relocation Costs”. Notwithstanding the foregoing, in the event Lessor successfully enters into a lease termination with a third-party tenant that occupies a portion of the Second Expansion Premises, but then subsequently benefits by placing such third-party tenant into one of Lessor’s other properties and such third-party tenant executes a lease (or amendment to an existing lease) affirmatively agreeing to occupy the replacement space for three (3) or more years (or extending its existing term for three (3) or more years), any costs related to such third-party tenant shall be expressly excluded from Lessor’s Relocation Costs. Further, notwithstanding anything set forth herein to the contrary, in no event shall Lessee’s share of the Relocation Costs exceed, and the Tenant Improvement for the Second Expansion Premises be reduced by more than, Two Hundred Fifty Thousand and 00/00 Dollars ($250,000.00). By way of illustration, per Section 19, above, Lessee has the right to be reimbursed an amount up to $35.00 per square foot of Rentable Area of the Second Expansion Premises ($35.00 x 10,000 RSF) for a total of $350,000.00 for Tenant Improvements to the Premises performed during the Second Improvement Period. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized Relocation Costs incurred by Tenant on or before the first Lessor equal Two Hundred Thousand and 00/100 Dollars (1st) anniversary of the Lease Commencement Date$200,000.00), then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available for the Second Improvement Period shall be deemed Landlord's property under proportionately reduced to One Hundred Fifty Thousand and 00/100 Dollars ($150,000.00). Alternatively, in the terms event that the Relocation Costs incurred by Lessor equal Four Hundred Thousand and 00/100 Dollars ($400,000.00), the Tenant Improvement Allowance for the Second Improvement Period shall be reduced proportionately to One Hundred Thousand Dollars ($100,000.00) and Lessor shall bear the loss of the Leaseremaining balance in the amount One Hundred Fifty Thousand and 00/100 Dollars ($150,000.00). As a part of the Tenant Improvements to be constructed by Lessee pursuant to this Second Amendment, Lessee shall have the right to place a film on the windows of the First Expansion Premises which would minimize the ability to view the interior of the First Expansion Premises from the exterior of the Project; provided, however, Landlord may, by Lessee must obtain Lessor’s prior written notice to Tenant prior consent with respect to the end grade of shading of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementsfilm.

Appears in 1 contract

Samples: Office Lease (Lifelock, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement “Fixturization Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 8 per rentable square foot RSF of the Premises ("Landlord's Drawing Contribution"i.e., $637,400.00) toward for costs relating to moving or relocation expenses, data/cabling, or furniture, fixtures or equipment. In addition to the cost of one Fixturization Allowance, Tenant shall be entitled to a one-time additional allowance, which may be requested periodically by Tenant for (1i) preliminary space plan costs required to be prepared paid by "ArchitectTenant under this Tenant Work Letter, or (ii) costs of “Alterations” performed in the Premises by Tenant from time to time prior to the second (2nd) anniversary of the full execution and delivery of this Lease, of up to $28.00 per RSF of the Premises (i.e., up to $2,230,900.00) (the “Additional Improvement Allowance”); provided, however, that up to but no more than $12 per RSF of the Premises of the Additional Improvement Allowance (i.e., not more than $956,100.00) may be used by Tenant for costs relating to moving or relocation expenses, data/Space Plannercabling, or furniture, fixtures or equipment. In the event Tenant exercises its right to use all or any portion of the Additional Improvement Allowance, the monthly Base Rent for the Premises for the initial Lease Term shall be increased by an amount equal to the “Additional Monthly Base Rent," as that term is defined below. The “Additional Monthly Base Rent” shall be determined as the missing component of an annuity, which annuity shall have (i) the amount of the Additional Improvement Allowance utilized by Tenant as the present value amount, (ii) the number of months remaining in Section 3.1the Lease Term as the number of payments, below(iii) 9% as the annual interest factor, and no (iv) the Additional Monthly Base Rent as the missing component of the annuity. At Landlord’s option, Landlord and Tenant shall enter into an amendment to this Lease memorializing the applicable Base Rent increase(s) attributable to such Additional Monthly Base Rent amount payable by Tenant hereunder. Following Tenant’s election to use all or any portion of the Landlord's Drawing ContributionAdditional Improvement Allowance, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, Landlord and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require enter into an agreement in the use form of Building risers, raceways, shafts and/or conduits, shall be subject Schedule 2 to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that this Exhibit B in order to document the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.Additional Monthly Base Rent. EXHIBIT B

Appears in 1 contract

Samples: Lease (Relypsa Inc)

Tenant Improvement Allowance. Tenant Lessee shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of Two Hundred Sixty-Six Thousand and No/100 Dollars ($266,000.00) (i.e., $20.00 per rentable square foot of the Summary Expansion Premises) for the costs relating to the initial design and construction of Tenant's improvements, Lessee’s improvements which are permanently affixed to the Premises (the "Tenant Improvements"). In no event shall Landlord Lessor be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant Lessee on or before the first (1st) anniversary of the Lease Expansion Commencement Date (the “TIA Expiration Date”), then such unused amounts shall revert to LandlordLessor, and Tenant Lessee shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's Lessor’s reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by LandlordLessor containing at least three (3) independent cabling vendors, and that the amount and location of any such cabling must be approved by LandlordLessor (such EXHIBIT B -1- FIFTH AMENDMENT TO LEASE [11099 North Xxxxxx Xxxxx Road] [DermTech, Inc.] approval not to be unreasonably withheld). All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's Lessor’s property under the terms of the Lease; provided, however, Landlord Lessor may, by written notice to Tenant Lessee prior to the end of the Lease Expansion Term, or given following any earlier termination of this the Lease, as amended, require TenantLessee, at Tenant's Lessee’s expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return removal; provided, however, that, notwithstanding the affected portion foregoing, upon request by Lessee at the time of Lessee’s request for Lessor’s approval of the Premises “Final Working Drawings,” as that term is defined in Section 3.3 of this Tenant Work Letter, Lessor shall notify Lessee whether the Tenant Improvements will be required to their condition existing prior be removed pursuant to the installment terms of such Tenant Improvementsthis Section 2.1.

Appears in 1 contract

Samples: Lease and Signage Lease (DermTech, Inc.)

Tenant Improvement Allowance. Provided the Tenant is not in default, the Landlord shall be entitled to a one-time tenant provide the Tenant with an improvement allowance (the "Tenant Improvement Allowance") which shall be solely applied to fixturing and modifying the Leased Premises. The Allowance is payable in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises two (2) instalments as follows. The first instalment (the "Tenant ImprovementsFirst Instalment"). In no event shall Landlord be obligated ) is equal to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed sum of $0.15 25.00 per rentable square foot of the Area of the Leased Premises being approximately 31,200 square feet plus applicable Goods and Services Tax. The First Instalment is payable by the Landlord to the Tenant after provision of satisfactory evidence of payment of all of the Tenant's contractors in full by the Tenant including but not limited to a statutory declaration that all fees and payments resulting from the modification and fixturing of the Leased Premises have been made and provided this Lease has been fully executed and the Tenant has fully occupied the Leased Premises and commenced business operations therein. The second instalment (the "Landlord's Drawing ContributionSecond Instalment") toward is equal to the cost sum of one ($20.00 per square foot of the Area of the Leased Premises being 10,000 square feet plus applicable Goods and Services Tax. The Second Instalment is payable by the Landlord to the Tenant on or after September 1) preliminary space plan , 1997 and provided the Landlord receives satisfactory evidence of payment of all of the Tenant's contractors in full by the Tenant including but not limited to be prepared by "Architect/Space Planner," as a statutory declaration that term is defined in Section 3.1, below, all fees and no portion payments resulting from the modification and fixturing of the Leased Premises have been made and provided this Lease has been fully executed and the Tenant has fully occupied the Leased Premises and commenced business operations therein. All modifications to the Leased Premises are to the Tenant's account and are subject to the Landlord's Drawing Contributionprior written approval. It is understood that the Landlord's contractor shall be utilized for all changes to the mechanical, if any, remaining after electrical and life safety systems. All design and consultants' fees and permits are to the completion Tenant's account. The Tenant shall spend a minimum of $17.00 per square foot of the Tenant Improvements shall be available for use by TenantArea of Leased Premises of the Allowance on the fixturing and modifying of the Leased Premises. In the event It is understood and agreed that the Tenant Improvement Allowance or Landlord's Drawing Contribution is shall not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Datebe applied towards items such as office furnishings, then such unused amounts shall revert to Landlordsystem furniture, indoor plants, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, office and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementscommunications equipment.

Appears in 1 contract

Samples: Brooks Automation Inc

Tenant Improvement Allowance. Tenant Landlord shall be entitled to provide a one-time tenant improvement allowance (the "Tenant Improvement Allowance") ---------------------------- Allowance in the amount set forth in Section 12 of $0.208 per usable square foot of space per month of the Summary for Lease term occurring from and after the costs relating to Commencement Date. For example, if the initial design and construction of Tenant's improvementsCommencement Date is November 1, which are permanently affixed to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds 1996, the Tenant Improvement AllowanceAllowance will be Twenty Thousand, Three Hundred Six and 21/100 Dollars ($20,306.21) [$20,306.21 = 1,842 u.s.f. In addition, Landlord x $0.208/u.s.f./month of term x 53 months]. The Tenant Improvement Allowance shall contribute an amount not be applied to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, planning and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion for construction improvements. Any additional costs of the Tenant Improvements or Space Planning shall be available for use payable by Tenant. The payment to be made by Landlord pursuant to this paragraph 1 shall be deemed to satisfy in full Landlord's obligation to provide a Tenant Improvement Allowance under the Lease. EXHIBIT "H" STATE OF GEORGIA COUNTY OF XXXXXX GUARANTY -------- KNOW ALL MEN BY THESE PRESENTS: In consideration of the letting by Pavilion Partners, L.P. ("Landlord") to QUALITY DIAGNOSTIC CARDIOLOGY SERVICES, INC. ("Tenant") pursuant to a Lease Agreement dated _________________________ (the "Lease") of premises described therein, the delivery of which lease is conditioned upon the execution and delivery of this Guaranty, and the payment of One Dollar ($1.00) to the undersigned by Landlord, the receipt and sufficiency of which are hereby acknowledged by the undersigned, the undersigned (hereinafter collectively called the "Guarantor") does hereby unconditionally guarantee the full, prompt and complete performance by Tenant of all of the terms, covenants, conditions and agreements contained in the Lease on the part of Tenant to be performed, including specifically, without limitation, the obligation to pay all rents and any other charges or obligations therein set forth, together with any and all renewal or renewals, extension or extensions, modification or modifications thereof, and substitution or substitutions therefor( all such obligations being hereinafter called the "Obligations"). Guarantor waives presentment, demand, dishonor, notice of dishonor, protest, and all other notices whatsoever, including, without limitation, notices of acceptance hereof, of the existence or creation of the Obligations, and of all defaults, disputes or controversies with Tenant, and of the settlement, compromise or adjustment thereof. Guarantor agrees that Landlord shall have full authority, without obtaining the consent of, giving notice to, or affecting the liability of Guarantor, to make changes of terms, to extend time to pay, to release the whole or any part of the Obligations, to settle or compound differences for less than the full amount owing under the Lease, to accept notes, trade acceptances or any other form of obligation for the Obligations, to make arrangements or settlements in or out of court in the case of receivership, liquidation, readjustment, bankruptcy, reorganization, arrangement or an assignment for the benefit of creditors and to do anything, whether or not herein specified, which may be done or waived by or between Landlord and Tenant. The making of such arrangements, settlements, compromises, adjustments, extensions of time and so forth shall not diminish, discharge, modify, reduce extinguish or otherwise affect the liability of Guarantor hereunder for the full amount owing under the Lease. Guarantor further agrees that no act or omission on the part of Landlord shall in any way affect, impede or impair this guaranty. This guaranty shall be enforceable without Landlord having (i) to proceed against Tenant (any right to require Landlord to take action against Tenant as required by O.C.G.A. (S) 10-7-24 being hereby expressly waived) or -------- against any security for any payments due under the Lease, or (ii) to exercise any of Landlord's remedies under the Lease; and shall be effective regardless of the solvency or insolvency of Tenant, any reorganization, merger or consolidation of Tenant, any change in the composition, nature, personnel or location of Tenant, or any bankruptcy, receivership, liquidation, reorganization or other proceeding involving Tenant. This guaranty shall be binding upon and enforceable against each person and entity executing this guaranty and upon the respective heirs, legal representatives, successors and assigns of each such person and entity. The liability of each person and entity executing this guaranty and the heirs, legal representatives, successors and assigns of each such entity and person hereunder is joint and several, primary and unconditional, and shall not be subject to any claim of offset, counterclaim or defense of Tenant. This guaranty shall be irrevocable, absolute and unconditional and shall remain in full force and effect as to Guarantor until such time as all of the Obligations shall have been paid or satisfied in full. No delay or failure on the part of Landlord in the exercise of any right or remedy shall operate as a waiver thereof, and no single or partial exercise by Landlord of any right or remedy shall preclude other or further exercise thereof or the exercise of any other right or remedy. Guarantor agrees that this guaranty shall not be affected by reason of assertion by Landlord against Tenant of any rights or remedies reserved to Landlord in the Lease, or by reason of any summary or other proceedings against Tenant, or by the amendment or modification of the Lease with or without notice to, or consent of, the Guarantor. This guaranty shall remain in full force and effect, and Guarantor shall continue to be liable for the payment of all amounts owing under the Lease in accordance with the original terms of the documents and instruments evidencing the same, notwithstanding the commencement of any bankruptcy, reorganization or other debtor relief proceeding by or against Tenant, and notwithstanding any modification, discharge or extension of the Obligations, any modification or amendment of any document or instrument evidencing any of the Obligations, any stay of the exercise by Landlord of any of its rights and remedies against Tenant with respect to any of the Obligations, or any cure of any default by Tenant under any document or instrument evidencing any of the Obligations, which may be effected in connection with any such proceeding, whether permanent or temporary, and notwithstanding any assent thereto by Landlord. Landlord may, without notice of any kind, sell, assign or transfer the Lease, and in such event each and every immediate and successive assignee, transferee or holder of the Lease shall have the right to enforce this guaranty, by suit or otherwise, for the benefit of such assignee, transferee or holder, as fully as if such person were herein by name specifically give such rights, powers and benefits, but Landlord shall have an unimpaired right to enforce this guaranty for its benefit as to so much of the Obligations as Landlord has not sold, assigned, or transferred. This guaranty has been made and delivered in the State of Georgia and shall be governed by, construed under and interpreted and enforced in accordance with the laws of the State of Georgia. Wherever possible, each provision of this guaranty shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this guaranty shall be prohibited by or be invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this guaranty. Guarantor hereby submits to personal jurisdiction in the State of Georgia for the enforcement of this guaranty and waives any and all personal rights under the laws of the State of Georgia or the United States to object to jurisdiction within the State of Georgia for the purposes of litigation to enforce this guaranty. In the event that such litigation is commenced, Guarantor agrees that service of process may be made, and personal jurisdiction over Guarantor obtained, by the Tenant Improvement Allowance serving of a copy of the summons and complaint upon Guarantor at the following address: ________________________________ 000 XxXxxxxx Xxx -------------------------------- Marietta, GA 30067 -------------------------------- Nothing contained herein shall prevent Landlord from bringing any action or Landlord's Drawing Contribution is not fully utilized exercising any rights against any security given to Landlord by Tenant on or before the first (1st) anniversary Guarantor, or against Guarantor personally, or against any property of Guarantor, within any other state. Commencement of any such action or proceeding in any other state shall not constitute a waiver of the Lease Commencement Date, then such unused amounts agreement that the laws of the State of Georgia shall revert govern the rights and obligations of Guarantor and Landlord hereunder or of the submission made by Guarantor to personal jurisdiction within the State of Georgia. The aforesaid means of obtaining personal jurisdiction and perfecting service of process are not intended to be exclusive but are cumulative and in addition to all other means of obtaining personal jurisdiction and perfecting service of process now or hereafter provided by the laws of the State of Georgia. Guarantor warrants and represents to Landlord that any financial statements heretofore delivered by Guarantor to Landlord were true and correct in all respects as of the date delivered to Landlord. At any time this Guaranty is in effect, Guarantor shall, upon ten (10) days prior written notice from Landlord, provide Landlord with a current financial statement and Tenant financial statements of two (2) years prior to the current financial statement year. Such statements shall be prepared in accordance with generally accepted accounting principles and, if such is the normal practice of Guarantor, shall be audited by an independent certified public accountant. Guarantor agrees that Guarantor shall have no further right to recover against Tenant by way of subrogation to the rights with respect thereto. Any Tenant Improvements that require of Landlord on account of any payment by Guarantor to Landlord until all of the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulationsObligations have been paid and satisfied in full, and restrictionsGuarantor hereby waives, including releases and relinquishes any such rights of subrogation to such extent. If Guarantor is a corporation, Guarantor and the requirement persons executing this guaranty as officers of the Guarantor represent that any cabling vendor must be selected from a list provided by LandlordGuarantor has full corporate authority to execute this guaranty and that the officers executing this guaranty are duly authorized to execute this guaranty on behalf of the corporation, and that there is no provision in its charter or bylaws that in any way conflicts with or prevents the amount and location execution, delivery or performance of this guaranty by Guarantor. Guarantor further represents that there is no provision of any such cabling must be approved other agreement by Landlord. All Tenant Improvements for which Guarantor is bound that in any way conflicts with or prevents the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; providedexecution, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, delivery or given following any earlier termination performance of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused guaranty by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsGuarantor.

Appears in 1 contract

Samples: Lease Agreement (Webmd Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary not to exceed Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) for the costs relating to the initial remodel, design and construction of Tenant's improvements, which are permanently affixed interior improvements and architectural/engineering services to the New Premises deemed necessary or useful by Tenant (the "Tenant Improvements"”). As part of the Tenant Improvements and without limiting its other design and construction activities with the Tenant Improvement Allowance, Tenant shall, with funds from the Tenant Improvement Allowance, construct the demising wall(s) shown on Exhibit A in accordance with building standards (the “Demising Wall”). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before by the first (1st) one year anniversary of the Lease Commencement Datedate of this First Amendment, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's ’s reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's ’s property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's ’s expense, to remove any Tenant Improvements and to repair any damage to the New Premises and Building caused by such removal and return the affected portion of the New Premises to a condition consistent with their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Office Lease (Immune Design Corp.)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "“Suite Tenant Improvement Allowance") in for each Suite within the amount set forth in Section 12 Expansion Premises equal to (a) Seventy-Two and 50/100 Dollars ($72.50) per rentable square foot for each Suite within the Expansion Premises, multiplied by (b) a fraction which numerator is the number of months or partial months between the applicable Suite Commencement Date and the Lease Expiration Date and the denominator is one hundred eight (108) months (which represents the number of months between the Expansion Commencement Date and the Lease Expiration Date). In addition, Tenant shall be entitled as of April 1, 2020 to a tenant improvement allowance (“Original Premises Tenant Improvement Allowance” and collectively with the Suite Tenant Improvement Allowance as the “Tenant Improvement Allowance”) for the Original Premises equal to Seven and 50/100 Dollars ($7.50) per rentable square foot of the Summary Original Premises. The Tenant Improvement Allowance shall only be used for the costs relating to the initial design and construction of Tenant's ’s improvements, which are permanently affixed to the Expansion Premises and the Original Premises (the "Tenant Improvements"). Tenant shall construct the Tenant Improvements pursuant to the terms of this Tenant Work Letter and shall be required to spend at least Sixty Dollars ($60) per rentable square foot on hard costs for the Tenant Improvements for each Suite within the Expansion Premises, provided that such obligation shall not apply to the Original Premises. The Tenant Improvement Allowance shall be disbursed to Tenant pursuant to the terms of this Tenant Work Letter. No portion of the Suite Tenant Improvement Allowance, if any, remaining for any Suite after the date which is (18) months following the Delivery Date for such Suite shall be available for use by Tenant. No portion of the Original Premises Tenant Improvement Allowance, if any, remaining for the Original Premises after September 30, 2021 shall be available for Tenant. 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. In additionaddition to the Tenant Improvement Allowance, Landlord shall contribute an amount not provide Tenant with a space planning allowance equal to exceed Fifteen Cents ($0.15 0.15) per rentable square foot of the Expansion Premises that have an Estimated Delivery Date in 2014 or 2015 ("Landlord's Drawing Contribution"the “Space Planning Allowance”). The Space Planning Allowance shall be made available on or prior to five (5) toward days after the cost Effective Date of one the Amendment, for reimbursement of Tenant’s third-party costs in connection with the planning of the improvements to the Expansion Premises. At Tenant’s sole option, any amounts payable by Tenant to Landlord for reimbursement of a share of costs incurred by Landlord for replacing any ACM or ACCM doors pursuant to Section 11(a) of this Amendment or installing the Mecho shade window coverings pursuant to Section 1.2.2 of this Tenant Work Letter may be deducted from the applicable Suite Tenant Improvement Allowance rather than separately paid by Tenant; provided, that, Tenant is spending at least Sixty Dollars (1$60) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, belowper rentable square foot on hard costs for the Tenant Improvements for such Suite. In addition, and notwithstanding anything to the contrary in this Section 2 or elsewhere in this Work Letter, the Original Premises Tenant Improvement Allowance may be disbursed for applicable Tenant Improvement Allowance Items (as defined below) with respect to any improvements and alterations (including cosmetic) to the Original Premises that are made by Tenant at any time after the Effective Date (and not only to improvements and alterations made after April 1, 2020) and, at Tenant’s option, Tenant may submit a request for disbursement of the entire Original Premises Tenant Improvement Allowance at any time on or after April 1, 2020 and Landlord shall have no obligation to pay Tenant any portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Original Premises Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement DateApril 1, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements2020.

Appears in 1 contract

Samples: Office Lease (Docusign Inc)

Tenant Improvement Allowance. Landlord will provide a Tenant Improvement Allowance of Five Hundred Thousand 00/100ths Dollars ($500,000.00) toward improvements in 892 and 000 Xxxx Xxxxx. Tenant may allocate this Tenant Improvement Allowance at Tenant’s discretion between the two Premises and the two Leases. However, the total amount to be provided by Landlord for both Leases and both Premises shall be $500,000.00 and no more. The Allowance will be provided as a reimbursement of money actually expended by Tenant toward new Tenant Improvements (which must be approved by Landlord under the provisions of the Lease relating to construction) prior to December 31, 2005. Subject to the provisions below, reimbursement by Landlord will be made within sixty (60) days of presentation of reasonably adequate documentation evidencing the expenses incurred and confirming that (i) all Tenant Improvements for which reimbursement is sought have been completed; (ii) all contractors, materialmen, suppliers, and others entitled to a lien have provided evidence satisfactory to Landlord releasing or waiving any such liens (or a proper Notice of Completion has been filed and the statutory period for filing of liens following recordation of a Notice of Completion has expired in the reasonable opinion of counsel for Landlord); and (iii) said funds have actually been expanded by December 31, 2005 for the Tenant Improvements approved by Landlord. Upon application for funds in conformity with the above period, Landlord may audit Tenant’s records upon request made within thirty (30) days after the request is made in regard to each such request for reimbursement. Notwithstanding the above provisions, Landlord shall not be obligated to pay any reimbursement to Tenant in accordance with the above prior to March 31, 2005. Tenant may apply for reimbursement of such matters at any time to and including March 31, 2006. Landlord will have no duty to reimburse based on any application which is received by Landlord after such date. Tenant may not apply for reimbursement wider this Paragraph 4 more often than three (3) times in any calendar year. In the event of any non-payment of reimbursement which was due to Tenant, after said reimbursement was due under the above provision, the Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in set the amount set forth in Section 12 of the Summary for the costs relating which it should have been reimbursed off against Rent due to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the either Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Sublease Agreement (Meru Networks Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of [ * ] per rentable square foot of the Summary Premises for the costs relating to the initial design and construction of Tenant's improvements, improvements which are permanently affixed to the Premises and the construction of the Generator and Tank as contemplated by Section 29.33 of the Lease (the "Tenant Improvements"). To the extent that any portion of the Tenant Improvement Allowance remains following the completion of construction the Tenant's Improvements, such amount may be applied by Tenant toward its architectural and engineering expenses. The Tenant Improvement Allowance may be allocated at Tenant's election over any portion of the Premises or phased occupancy thereof (e.g., if the Tenant Improvement construction process is phased over three (3) areas of the Premises approximately equal in size and Tenant elects to spend [*] per rentable EXHIBIT B * Portions redacted pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. square foot on the first phase, there shall be no Tenant Improvement Allowance for the second or the third phase). 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. In addition, Landlord shall contribute an amount not Subject to exceed $0.15 per rentable square foot Tenant's rights under Section 8.5 of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1Lease, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All all Tenant Improvements for which the Tenant Improvement Allowance has been made available actually used shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Office Lease (Nextcard Inc)

Tenant Improvement Allowance. A Tenant shall be entitled to a one-time tenant improvement allowance Improvement Allowance (the "Tenant Improvement Allowance") in of up to $64,440.00 (i.e., $5.00 per square foot ---------------------------- of the amount Fifth Expansion Space) shall be made available to Tenant for the construction of the Tenant Improvements on the terms and conditions set forth in Section 12 herein. Tenant agrees and acknowledges that the Fifth Expansion Space Base Monthly Rent shall be increased by $0.0254 per square foot for each $1.00 of the Summary for Tenant Improvement Allowance that is used by Tenant. Thus, if the costs relating to entire Tenant Improvement Allowance is used by Tenant, the initial design and construction of Tenant's improvementsFifth Expansion Space Base Monthly Rent would be increased by $1,636.78 per month (i.e., which are permanently affixed to the Premises (the "Tenant Improvements"$64,440.00 x $0.0254). In the event any portion of the Tenant Improvement Allowance is used by Tenant, Landlord and Tenant agree to enter into an amendment to the Lease to reflect such increase to the Fifth Expansion Space Base Monthly Rent. The Tenant Improvement Allowance shall be applied against the costs and expenses incurred in connection with the performance of the Tenant Improvements work, including the design, permitting, demolition, procurement of supplies and materials, construction and installation of the Tenant Improvements. The Tenant Improvement Allowance shall be used for standard interior improvements within the Premises. None of the Tenant Improvement Allowance shall be used for specialized improvements, cabling, equipment, trade fixtures, rent or relocation expenses. Not sooner than the date on which the Tenant Improvements work within the Premises has been commenced, Tenant may submit invoices to Landlord for payment out of the Tenant Improvement Allowance to reimburse Tenant or to pay Tenant's contractor directly (if so requested by Tenant) for Tenant Improvements costs incurred for work actually performed within the Premises. Following Landlord's receipt of such invoices, Landlord shall within thirty (30) days thereafter pay Tenant for the amount requested in such invoice; provided in no event shall Landlord be obligated to make disbursements pursuant to this pay Tenant Work Letter in a total more than the maximum amount which exceeds of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared Any expenses incurred by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of Tenant for the Tenant Improvements shall be available for use by Tenant. In the event that work in excess of the Tenant Improvement Allowance or Landlordshall be at Tenant's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, sole cost and Tenant expense. Landlord shall have no further rights with respect thereto. Any Tenant Improvements that require the use obligation to disburse any portion of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under for invoices that are received by Landlord on or after the terms of sixtieth (60th) day following the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsFifth Expansion Space Commencement Date.

Appears in 1 contract

Samples: Tenant Improvement Agreement (Pericom Semiconductor Corp)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary One Hundred Eighty Five Thousand and 00/100 Dollars ($185,000.00) for the costs relating to the initial design and construction of Tenant's ’s improvements, which are permanently affixed to the Expansion Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or otherwise in connection with Tenant’s construction of the Tenant Improvements or any Tenant Improvement Allowance Items, as defined below, in a total amount which exceeds the sum of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's ’s property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant given concurrently with Landlord’s approval of the “Final Working Drawings”, as that term is defined in Section 3.3, below, require Tenant, prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's ’s expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior a EXHIBIT B -1- Xxxxxxxxx Pointe Grand Business Park [First Amendment] [KaloBios Pharmaceuticals, Inc.] Building standard general office condition. Any portion of the Tenant Improvement Allowance that is not disbursed or allocated for disbursement by December 31, 2013, shall revert to the installment of such Landlord and Tenant Improvementsshall have no further rights with respect thereto.

Appears in 1 contract

Samples: Lease (Kalobios Pharmaceuticals Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance in the amount of (i) $358,060.00 with respect to the Building F Premises and the Building A Premises (i.e., Five Dollars ($5.00) per rentable square foot of the Premises multiplied by 71,612 rentable square feet of the Building F Premises and the Building A Premises) (the "“Existing Premises Tenant Improvement Allowance"”), and (ii) in the amount set forth in Section 12 Five Dollars ($5.00) per rentable square foot of the Summary Substitute Premises (which includes the Building B Substitute Premises and the Building D Substitute Premises), which final amount shall be calculated once the rentable square footage of the Building B Substitute Premises has been determined pursuant to Section 2.1 of the Fourth Amendment) (the “Substitute Premises Tenant Improvement Allowance” and, collectively with the Existing Premises Tenant Improvement Allowance, the “Tenant Improvement EXHIBIT B Allowance”), for the costs relating to the initial design and construction of Tenant's ’s improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot As more particularly set forth in Section 8.5 of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1Original Lease, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All all Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's ’s property under the terms of the Lease; provided, however, Landlord may, by written notice to . Tenant prior to the end of the Lease Term, or given following hereby acknowledges and agrees that any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected unused portion of the Premises Tenant Improvement Allowance remaining as of May 31, 2014, shall revert to their condition existing prior to the installment of such Landlord and Tenant Improvementsshall have no further right thereto.

Appears in 1 contract

Samples: Office Lease (Ixia)

Tenant Improvement Allowance. The planning and construction of the Mezzanine Improvements and the Tenant Improvements shall be entitled to at Lessee's sole and entire cost except for the Allowance. Lessor will provide a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises 4,300,000 ("Landlord's Drawing ContributionAllowance") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, the design and no portion construction of the Landlord's Drawing ContributionMezzanine Improvements and the Tenant Improvements ("Total Cost"). The Total Cost shall include all direct and indirect costs and expenses incurred by Lessor relating to the Mezzanine Improvements and the Tenant Improvements as indicated by the Plans and the Work Cost Estimate, if anyas modified, remaining after including, without limitation, all direct and indirect costs related to the completion architectural, engineering and inspection fees, the costs of the Working Drawings and the Plans, payments made under all construction contracts, premiums for all bonds and insurance, all sales, use or similar taxes relating to the construction of the Mezzanine Improvements and the Tenant Improvement, permit fees and other governmental fees, losses and expenses not compensated by insurance or otherwise sustained by Lessor, blueprinting expenses and all other ordinary and reasonable expenses incurred by Lessor applicable to the construction of the Mezzanine Improvements and the Tenant Improvements. If the estimated Total Cost of the Mezzanine Improvements and the Tenant Improvements exceeds the Allowance, then Lessee shall pay the estimated overage to Lessor at the time a construction contract is signed for Phase 1 or Phase 2 of the Tenant Improvements that, together with all previous amounts spent for Mezzanine Improvements and Tenant Improvements through that date, is estimated to exceed the Allowance. Lessor shall be available have no obligation to cause commencement of a contract for use by Tenant. In the event that Phase 1 Tenant Improvements until after Lessee has paid the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary amount of the Lease Commencement Dateoverage related thereto to Lessor. Similarly, then such unused amounts Lessor shall revert have no obligation to Landlordcause commencement of a contract for the Phase 2 Tenant Improvements until after Lessee has paid the amount of the overage related thereto to Lessor. After the Allowance has been exhausted, and Tenant Lessor shall have no further rights obligation to expend Lessor's funds on Tenant Improvements. Lessor shall place the overage paid by Lessee in an interest-bearing account with the interest accruing to the benefit of Lessee. Lessor shall perform the services of fund control with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end construction costs and shall disburse Lessee's funds in equal monthly installments based on the estimated number of months of construction for the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected corresponding portion of the Premises to their condition existing prior to the installment of such Tenant Improvements. When all the Tenant Improvements are Substantially Complete, either (1) if the Total Cost of the Mezzanine Improvements and the Tenant Improvements exceeds the sum of the Allowance plus any amounts Lessee paid to Lessor upon the execution of the Construction Contract (plus accrued interest on Lessee's funds), then Lessee shall pay Lessor such shortfall immediately upon Lessor's request (and Lessee's failure to make such payment shall constitute a default under the Lease), or (2) if the Total Cost of the Mezzanine Improvements and the Tenant Improvements is less than the sum of the Allowance plus any amounts Lessee paid to Lessor upon execution of the Construction Contract (plus accrued interest on Lessee's funds), then Lessor shall refund the excess overage paid by Lessee to Lessee. All items of Tenant Improvements shall be the property of Lessor.

Appears in 1 contract

Samples: Sublease Agreement (Genoptix Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 5 of the Summary (subject to the terms of Section 1.3 of the Lease) for the costs relating to the initial design and construction of Tenant's improvements, improvements which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date] (the "TIA Expiration Date"), then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Partial Lease Termination Agreement (Zentalis Pharmaceuticals, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement AllowanceTENANT IMPROVEMENT ALLOWANCE") in the amount set forth in Section 12 of the Summary One Million Six Hundred Seventy-Eight Thousand Seven Hundred Fifty-Eight Dollars ($1,678,758.00) for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises improvements (the "Tenant TENANT Improvements"). Tenant shall have the right to defer the construction of Tenant Improvements for space in the Building which Tenant elects not to initially build-out until no later than three (3) years after the Lease Commencement Date; however, (i) if Tenant elects to commence construction of Tenant Improvements for any space in the Building, such construction may not thereafter be deferred, and (ii) any such deferral shall be deemed a Tenant Delay so that the Lease Commencement Date shall not be delayed. 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 AllowanceAllowance (except as expressly contemplated by this Tenant Work Letter). In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no Any portion of the Landlord's Drawing Contribution, if any, Tenant Improvement Allowance remaining after the completion construction of the Tenant Improvements shall for the Building may be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized used by Tenant on or for Tenant Improvements for such Building before the first (1st) anniversary of the Lease Commencement DateDate for such Building; provided, then such unused amounts shall revert to Landlordhowever, and Tenant shall have no further rights with respect thereto. Any the right to transfer portions of the Tenant Improvement Allowance among the Building and Buildings 2 and 5 for Tenant Improvements that require and space planning costs only. Further, Tenant shall allocate and use a minimum Tenant Improvement Allowance for "hard costs" (i.e., costs incurred under the use general contract with Contractor) of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the Tenant Improvements in an amount and location of any such cabling must be approved by Landlordnot less than One Million Ninety-Six Thousand Nine Hundred Sixteen Dollars ($1,096,916.00). All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property except as described under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination Section 8.5 of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Office Lease (Peregrine Systems Inc)

Tenant Improvement Allowance. Commencing as of the date of this First Amendment, Tenant shall be entitled to a one-time tenant an improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 45.00 per rentable square foot of the Premises ("Landlord's Drawing Contribution"i.e., $1,514,835.00) toward for the cost costs relating to the design and construction of one (1) preliminary space plan Tenant’s improvements, refurbishment work and other renovations to be prepared performed by "Architect/Space PlannerTenant in the Premises or which are “Tenant Improvement Allowance Items," as that term is defined in Section 3.12.2.1, belowbelow (collectively, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the “Tenant Improvements”). All Tenant Improvements shall be available that have been paid for use by Tenant. In the event that with or reimbursed from the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's ’s property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant given concurrently with Landlord’s approval of the “Final Working Drawings”, as that term is defined in Section 3.3, below, require Tenant, prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's ’s expense, to remove any portion of the Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their a condition with removed systems components capped, Building standard ceiling tiles in good condition, and sheet rock and floors patched and repaired to match existing prior conditions of the remainder of the Premises. Landlord approves in concept and shall not require Tenant to remove any of the Tenant Improvements to the installment extent shown on the Space Plan attached hereto as Schedule 1. The Tenant Improvement Allowance may not be used by Tenant for the purchase or installation of such Tenant Improvements.furniture, fixtures or equipment (other than an autoclave and glasswash), or for telephone or data cabling, or any other personal property. EXHIBIT B

Appears in 1 contract

Samples: Lease (Oric Pharmaceuticals, Inc.)

Tenant Improvement Allowance. At such time as the portion of the Abbott Premises being located in Building A becomes Must Take Premises, Landlord shall make available to Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of $2,702,100.00 (being Fifty Dollars ($50.00) per rentable square feet of that portion of the Summary Must Take Premises being located in Building A) (the “Improvement Allowance”) for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed fixed and permanent improvements desired by and performed by Tenant and reasonably acceptable to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Must Take Premises located in Building A (the “Tenant Improvements”), which Tenant Improvements shall be constructed pursuant to a scope of work reasonably acceptable to Landlord and Tenant. Landlord may require that the Tenant Improvements be commensurate with a modern workplace standard. The Improvement Allowance shall be available only for the design and construction of the Tenant Improvements. Tenant acknowledges that upon the expiration of the Term of the Lease, the Tenant Improvements shall become the property of Landlord and may not be removed by Tenant. Except for the Improvement Allowance, Tenant shall be solely responsible for all of the costs of the Tenant Improvements. The Tenant Improvements shall be treated as Alterations and shall be undertaken pursuant to Section 5 of this Lease. The contractor for the Tenant Improvements shall be selected by Tenant, subject to Landlord's Drawing Contribution’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Prior to the commencement of the Tenant Improvements, Tenant shall deliver to Landlord a copy of any contract with Tenant’s contractors, and certificates of insurance from any contractor performing any part of the Tenant Improvements evidencing industry standard commercial general liability, automotive liability, “builder’s risk”, and workers’ compensation insurance. Tenant shall cause the general contractor to provide a certificate of insurance naming Landlord, Alexandria Real Estate Equities, Inc., and Landlord’s lender (if any, remaining after ) as additional insureds for the general contractor’s liability coverages required above. Upon completion of the Tenant Improvements (and prior to any final disbursement of the Improvement Allowance) Tenant shall deliver to Landlord the following items: (i) sworn statements setting forth the names of all contractors and subcontractors who did work on the Tenant Improvements and final lien waivers from all such contractors and subcontractors; and (ii) “as built” plans, if available, for the Tenant Improvements. Notwithstanding the foregoing, if the cost of the Tenant Improvements exceeds the Improvement Allowance, Tenant shall be required to pay such excess in full prior to Landlord having any obligation to fund any remaining portion of the Improvement Allowance. The Improvement Allowance shall only be available for use by Tenant for the construction of the Tenant Improvements from the commencement Date of that portion of the Must Premises consisting of Building A through the date that is 36 months after the commencement date of such Building A portion of the Must Take Premises (the “Outside Improvement Allowance Date”). Any portion of the Improvement Allowance which has not been properly requested by Tenant from Landlord on or before the Outside Improvement Allowance Date shall be forfeited and shall not be available for use by Tenant. In Tenant shall otherwise accept the event that Must Take Premises in their then as-is condition. Notwithstanding anything to the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Datecontrary in this Lease, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises TI Allowance until the commencement date with respect to their condition existing prior to that portion of the installment of such Tenant Improvements.Must Take Space located in Building A.

Appears in 1 contract

Samples: Lease Agreement (Quidel Corp /De/)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement AllowanceTENANT IMPROVEMENT ALLOWANCE") in the amount set forth in Section 12 of the Summary Four Million Three Hundred Forty-Five Thousand One Hundred Twenty-Three Dollars ($4,345,123.00) for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises improvements (the "Tenant ImprovementsTENANT IMPROVEMENTS"). Tenant shall have the right to defer the construction of Tenant Improvements for space in the Building which Tenant elects not to initially build-out until no later than three (3) years after the Lease Commencement Date; however, (i) if Tenant elects to commence construction of Tenant Improvements for any space in the Building, such construction may not thereafter be deferred, and (ii) any such deferral shall be deemed a Tenant Delay so that the Lease Commencement Date shall not be delayed. 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 AllowanceAllowance (except as expressly contemplated by this Tenant Work Letter). In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no Any portion of the Landlord's Drawing Contribution, if any, Tenant Improvement Allowance remaining after the completion construction of the Tenant Improvements shall for the Building may be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized used by Tenant on or for Tenant Improvements for such Building before the first (1st) anniversary of the Lease Commencement DateDate for such Building; provided, then such unused amounts shall revert to Landlordhowever, and Tenant shall have no further rights with respect thereto. Any the right to transfer portions of the Tenant Improvement Allowance among the Building and Buildings 1 and 5 for Tenant Improvements that require and space planning costs only. Further, Tenant shall allocate and use a minimum Tenant Improvement Allowance for "hard costs" (i.e., costs incurred under the use general contract with Contractor) of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the Tenant Improvements in an amount and location of any such cabling must be approved by Landlordnot less than Two Million Eight Hundred Thirty-Nine Thousand One Hundred Forty-Three Dollars ($2,839,143.00). All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property except as described under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination Section 8.5 of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Office Lease (Peregrine Systems Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the total amount set forth in Section 12 of Four Million Eight Hundred Twenty Thousand Seven Hundred Sixty and No/100 Dollars ($4,820,760.00) (calculated based upon Forty-Two and No/100 Dollars ($42.00) per rentable square foot of the Summary Premises) for the costs relating to the initial design and construction of Tenant's improvements, ’s improvements which are permanently affixed to the Premises (collectively, the "Tenant Improvements"). Notwithstanding anything to the contrary herein, the Tenant Improvement allowance may be used by Tenant in conjunction with the initial design and construction of the Tenant Improvements relating to both the Initial Premises and the Additional Premises. 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the All Tenant Improvements shall be available for use by Tenant. In the event that which are paid for, in whole or in part, with the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's ’s property under the terms of the Lease. With respect to any portion of the Tenant Improvement Allowance which is not disbursed by Landlord in connection with the construction of the Initial Premises, Landlord agrees and acknowledges that (i) any such amount shall be disbursed relating to the construction of the Additional Premises, and (ii) that the Additional Premises Commencement Date is not anticipated to occur until approximately the second (2nd) anniversary of the Commencement Date of this Lease. In addition, Landlord hereby acknowledges and agrees that Landlord’s failure to disburse the Tenant Improvement Allowance with respect to the Additional Premises pursuant to the TCCs of this Tenant Work Letter shall (following the applicable notice and cure periods set forth therein) constitute a Landlord default pursuant to the TCCs of Section 19.6 of the Lease, subject to, among other things, the Tenant’s offset rights contained therein; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment ’s application of such Tenant Improvementsoffset shall not be pre-conditioned upon receipt of an award from a court or arbitrator otherwise required pursuant to such Section 19.6.

Appears in 1 contract

Samples: Office Lease (Memec Inc)

Tenant Improvement Allowance. Landlord and Tenant hereby acknowledge ---------------------------- and agree that the Tenant Improvement Costs (defined in Section 9 below) for the Tenant Improvements, based upon the Initial Plans approved by Landlord and Tenant in accordance with the provisions of Section 4 above, will be determined at a later date (the "Estimated TI Costs"). If the actual Tenant Improvement ------------------ Costs varies from the initial estimate by more than twenty-five percent (25%), then Landlord may require any of the following, in its sole discretion: (a) changes be made to the Final Drawings to reduce the cost of the Tenant Improvements and Landlord may refuse to sign any construction contract or Change Orders to the construction contract, as the case may be, until such changes are made to the sole satisfaction of Landlord; (b) Tenant to deposit into a separate escrow account cash in an amount equal to the Excess Tenant Improvement Costs (defined in Section 10 below); (c) Tenant to provide to Landlord evidence satisfactory to Landlord, in its reasonable discretion, that Tenant has adequate financial resources to pay for the Excess Tenant Improvement Costs, as reasonably determined by Landlord; and/or (d) Tenant to pay all of the Excess Tenant Improvement Costs before Landlord's contribution of the Tenant Improvement Allowance (defined in Section 10 below); provided, however, in no event or circumstance shall the Tenant Improvement Costs exceed the maximum amount of seven hundred sixty-nine thousand four hundred forty and 00/100 dollars ($769,440.00), which amount is based on the amount of thirty and 00/100 dollars ($30.00) per rentable square foot for 25,648 square feet of the Premises which is to be entitled improved, as described in the Initial Plans. Subject to a onethe foregoing, Landlord shall provide an allowance for the planning and construction of the Tenant Improvements for the Work to be performed in the Premises, as described in the Initial Plans and the Final Drawings, in the amount of six hundred forty-time tenant improvement allowance one thousand two hundred and 00/100 dollars ($641,200.00) (the "Tenant Improvement Allowance") in the amount set forth in Section 12 based upon an allowance of the Summary for the costs relating to the initial design twenty-five and construction of Tenant's improvements, which are permanently affixed to the Premises 00/100 dollars (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 25.00) per rentable square foot for 25,648 square feet of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan which is to be prepared by "Architect/Space Planner," improved, as that term is defined described in Section 3.1the Initial Plans and the Final Drawings. Tenant shall not be entitled to any credit, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In abatement or payment from Landlord in the event that the amount of the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized specified above exceeds the actual Tenant Improvement Costs. The Tenant Improvement Allowance shall only be used for tenant improvements typically installed by Landlord in office/R&D and warehouse/distribution buildings. The Tenant on or before Improvement Allowance shall be the first (1st) anniversary of maximum contribution by Landlord for the Lease Commencement Date, then such unused amounts shall revert to Landlord, Tenant Improvement Costs and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location provisions of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsSection 10 below.

Appears in 1 contract

Samples: Lease Agreement (Nuance Communications)

Tenant Improvement Allowance. Landlord has agreed to provide Tenant shall be entitled to a one-time tenant improvement with an allowance of $29,300.00 (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 25 per rentable square foot times 1,172 RSF) for the purpose of making improvements to the New R&S Lab Area Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan “Tenant Allowance”), subject to be prepared the provisions set forth herein. Landlord shall reimburse Tenant for the costs actually incurred by "Architect/Space Planner," Tenant in connection with Tenant’s Work, which costs may include, without limitation, costs in connection with engineering and design, as that term is defined in Section 3.1, below, well as construction-related costs and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion expenses up to a maximum aggregate amount of the Tenant Improvements shall be available Allowance. Tenant must submit a reimbursement request for use by Tenant. In the event that payment of the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant in accordance with the provisions of this Paragraph 5 on or before the first date that is twelve (1st12) anniversary of months after the Lease Commencement Effective Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights not be entitled to any credit, offset, or payment from Landlord for any portion of Tenant’s Allowance for which Tenant has not properly submitted a draw request in accordance with respect theretothis Paragraph 5 on or before such date. Any Tenant Improvements that require the use shall promptly pay in full all costs and expenses associated with Tenant’s Work. Upon Substantial Completion of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulationsTenant’s Work, and restrictions, including the requirement provided that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location no Event of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property Default exists under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Landlord shall reimburse Tenant the amount requested by Tenant in a single individual written draw request submitted by Tenant to Landlord within thirty (30) days of such request upon satisfaction of all of the following conditions: (a) all Tenant’s Work shall have been completed substantially in accordance with the approved Space Plans and Build-Out Plans; (b) Tenant shall have submitted a detailed written draw request to Landlord itemizing the cost of Tenant’s Work and certifying that all such Tenant Work has been completed substantially in accordance with the approved Space Plans and Build-Out Plans and specifications therefor and in compliance with all applicable legal requirements; (c) Tenant shall have submitted to Landlord copies of paid invoices related to that portion of Tenant’s Work to be reimbursed together with lien waivers and releases from all material contractors, subcontractors, suppliers and other parties furnishing labor and/or material for such portion of Tenant’s Work; and (d) Tenant has commenced to operate its business at Tenant's expensethe New R&D Lab Area Premises and delivered to Landlord a final, to remove any Tenant Improvements and to repair any damage unconditional Certificate of Occupancy with respect to the New R&D Lab Area Premises duly issued by the Town of Exeter, New Hampshire. Upon completion of Tenant’s Work, Tenant shall deliver to Landlord a Certificate of Substantial Completion from Tenant’s architect certifying that all Tenant’s Work has been installed and Building caused by such removal completed substantially in accordance with the approved Space Plans and return Build-Out Plans therefor and in compliance with all applicable legal requirements. Tenant shall be responsible for the affected portion performance of Tenant’s Work to completion and the Premises payment of any costs and expenses related to their condition existing prior to Tenant’s Work which exceed the installment of such Tenant ImprovementsAllowance.

Appears in 1 contract

Samples: Lease (Vapotherm Inc)

Tenant Improvement Allowance. Subject to any restrictions, conditions or limitations expressly set forth in this Tenant Work Letter or in the Lease or as otherwise expressly provided by mutual written agreement of Landlord and Tenant, the cost of construction of the Tenant Improvements shall be entitled paid or reimbursed by Landlord up to a one-time tenant improvement allowance maximum amount equal to $2,119,095.00 (the "Tenant Improvement Allowance") ), which amount is being made available by Landlord to be applied towards the Cost of Improvements for the construction of the Tenant Improvements in the amount set forth in Section 12 Premises. Tenant shall be responsible, at its sole cost and expense, for payment of the Summary for entire Cost of Improvements of the costs relating to the initial design and construction Tenant Improvements in excess of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord including (but not limited to) any costs or cost increases incurred as a result of delays (unless caused by Landlord), governmental requirements or unanticipated conditions (unless caused by Landlord), and for payment of any and all costs and expenses relating to any alterations, additions, improvements, furniture, furnishings, equipment, fixtures and personal property items which are not eligible for application of Tenant Improvement Allowance funds under the restrictions expressly set forth below in this paragraph, but Tenant shall contribute an amount not be entitled to exceed $0.15 per rentable square foot of use or apply the Premises ("Landlord's Drawing Contribution") entire Tenant Improvement Allowance toward the cost Cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion Improvements of the Tenant Improvements (subject to any applicable restrictions, conditions, limitations, reductions or charges set forth in the Lease or in this Tenant Work Letter) prior to being required to expend any of Tenant’s own funds for the Tenant Improvements. The funding of the Tenant Improvement Allowance shall be available for use made on a monthly basis or at other convenient intervals mutually approved by TenantLandlord and Tenant and in all other respects shall be based on such commercially reasonable disbursement conditions and procedures as Landlord, Project Manager and Landlord’s lender (if any) may reasonably prescribe. In Notwithstanding the event that foregoing provisions, under no circumstances shall the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized any portion thereof be used or useable by Tenant on for any moving or before relocation expenses of Tenant, or for any Cost of Improvement (or any other cost or expense) associated with any moveable furniture or trade fixtures, personal property or any other item or element which, under the first (1st) anniversary applicable provisions of the Lease Commencement DateLease, then such unused amounts shall revert will not become Landlord’s property and remain with the Building upon expiration or termination of the Lease. Notwithstanding anything to Landlordthe contrary herein, and Tenant shall have no further rights with respect thereto. Any the Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall not include (and Landlord shall be subject to Landlord's reasonable rules, regulations, solely responsible for and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall not be deemed Landlord's property under used for) the terms following: (a) costs incurred due to the presence of any Hazardous Materials, if any, but with respect to removal and remediation of any such Hazardous Materials, only to the extent such removal or remediation is required by Applicable Laws enforced as of the Lease; provided, however, Landlord may, by written notice to Tenant prior date of this Lease for improvements in the Premises generally (as opposed to the end specific Tenant Improvements) and to the extent the same required in order to allow Tenant to obtain a certificate of occupancy or its legal equivalent, for the Premises for the Permitted Use assuming a normal and customary occupancy density;(b) costs to bring the Project into compliance with Applicable Laws to the extent required in order to allow Tenant to obtain a certificate of occupancy or its legal equivalent, for the Premises for the Permitted Use assuming a normal and customary office occupancy density; (c) construction costs in excess of the Lease Termcontract amount stated in the contract with the General Contractor, as approved by Tenant (not to be unreasonably withheld), except for increases set forth in change orders approved by Tenant; (d) wages, labor and overhead for overtime and premium time unless approved by Tenant (which approval shall not be unreasonably withheld, conditioned or given following delayed); (e) attorneys' fees incurred in connection with negotiation of construction contracts, and attorneys' fees, experts' fees and other costs in connection with disputes with third parties; (f) interest and other costs of financing construction costs; (g) costs incurred as a consequence construction defects or default by a contractor; (h) costs as a consequence of casualties; (i) penalties and late charges attributable to Landlord’s failure to pay construction costs, and (j) costs due to compliance with any earlier termination of this Leasesoil management plan for the Project or its appendices 8377633.2 (8383465.1) EXHIBIT B -0- Xxxxxxx Xxxxx Xxxx I Limited Partnership [Britannia Point Eden] [Pulse Biosciences, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.Inc.]

Appears in 1 contract

Samples: Pulse Biosciences, Inc.

Tenant Improvement Allowance. Tenant As provided in the Construction Work Letter attached is Exhibits '8' and "C" to the Lease, Landlord's Construction Allowance shall be entitled $442,479.44 (based upon construction costs of $425,461.00 plus a construction fee to Landlord of 4o/a one-time tenant improvement allowance of such costs) pertaining to no Tenant Improvements (which Tenant improvements shall not include the "Landlord's Work as defined in tie Construe= Work Letter, but shall include the architectural fees and costs of Calpo Horn Macaulay & Doxx xxr xxx Xxxxxxx). Xx xhe event the actual Construction Costs of the Tenant Improvement Improvements is less than to Landlord's Construction Allowance") , then the shortfall shall be a credit against the first installments of Monthly Base Rent wising under the Lease until such shortfall has bon exhausted. In the event the actual Construction Costs for the Tenant Improvements exceeds the Landlord's Construction Allowance due to Tenant's changes in the amount set forth Tenant Improvements from those depicted in Section 12 the November 6, 1997 floor plan of the Summary for the costs relating Premises, then such excess, up to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises $104,290.00 (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed calculated at $0.15 5.00 per rentable usable square foot of the Premises Premises) (the "Landlord's Drawing ContributionOverage Allowance") toward the cost of one (1) preliminary space plan to shall also be prepared paid by "Architect/Space Planner," Landlord as that term is defined though same were included in Section 3.1, below, and no portion of the Landlord's Drawing ContributionConstruct Allowance, if anysubject to the provisions below. In the event Landlord incurs any costs which fall within no Overage Allowance, remaining after then the completion Monthly Base Rent shall be increased effective as of the commencement of the Term of the Lease by an amount equal to the amortization of the Overage Amount at an interest rate of IC" 1 per annum over the initial sixty (60) month Term of tile Lease. In such event, the increases in Monthly Rent effective at the beginning of the 19th, 37th and 54th months of the Lease Term shall be based upon tic already increased Monthly Base Rent as a result of Landlord incurring the Overage Amount. If the SCU21 Construction Costs of the Tenant Improvements exceeds the Landlord's Construction Allowance and the Overage Allowance, then the excess Construction Costs shall be available for use by considered the Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized Construction Costs and shall be paid by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject Landlord pursuant to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; providedConstruction Work Letter. (t is intended that are !Monthly Base Rental shall not be increased by the amortization of the Overage Amount if the increase in ere Construction Costs is simply because construction costs for the Tenant Improvements shown on the November 6, however1997 floor plan were higher than expected. If the Monthly Base Rent increases pursuant to this Paragraph 5, Landlord may, by written notice to Tenant prior to then the maximum Cancellation Consideration described at the end of the Lease Term, or given following any earlier termination Paragraph 4(c)(i) of this LeaseAddendum shall be increased by the amount which is nine (9) times the increase in Monthly Base Rent as a result thereof, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused maximum Cancellation Consideration described a the end of Paragraph 4(c)(ii) of this Addendum Stall be increased by such removal and return the affected portion of amount which is six (6) times the Premises to their condition existing prior to the installment of such Tenant Improvementsincrease m Monthly Base Rent as a result thereof.

Appears in 1 contract

Samples: Sublease (Spectrian Corp /Ca/)

Tenant Improvement Allowance. A. Subject to Tenant’s compliance with the provisions of this Exhibit C, Landlord shall provide an allowance for the planning, designing, obtaining approvals of, permitting, and construction of the Tenant Improvements to be performed in the Leased Premises, as described in the Initial Plans and the Approved Final Drawings, in the amount of Seventy Two Thousand Seven Hundred and Twenty Dollars ($72,720.00) (the “Tenant Improvement Allowance”). Tenant shall not be entitled to a one-time tenant improvement allowance (any credit, abatement or payment from Landlord in the "event that the amount of the Tenant Improvement Allowance") Allowance specified above exceeds the actual Tenant Improvement Costs. The Tenant Improvement Allowance shall only be used for tenant improvements typically installed by Landlord in buildings similar to that of which the amount Leased Premises are located which are generic in nature and that will likely be used by a subsequent tenant for normal use of the Leased Premises (referred to herein as “Generic Improvements”). For example, Generic Improvements would include items such as new or relocated office demising walls and Building Standard electrical, any electronic security systems, plumbing and mechanical fixtures, equipment and distribution and telecommunications and network installations useable by any subsequent tenant, while items such as lab equipment and cabling and piping specific to Tenant’s business operations would not be considered Generic Improvements. The Tenant Improvement Allowance shall be the maximum contribution by Landlord for the Tenant Improvement Costs and shall be subject to the provisions of Section 10 below. Landlord shall pay to Tenant all or any portion of the Tenant Improvement Allowance in monthly progress payments as set forth in Section 12 5(B) below, and Tenant shall comply with all time requirements hereunder. The costs to be paid out of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In additionAllowance shall include all reasonable costs and expenses associated with the design, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1preparation, belowapproval, planning, construction and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion installation of the Tenant Improvements and shall include the cost of any signage permitted by this Lease (the “Tenant Improvement Costs”). The Tenant Improvement Allowance shall be available the maximum contribution by Landlord for use by Tenant. In the event that Tenant Improvement Costs, and the disbursement of the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementscontained hereinbelow.

Appears in 1 contract

Samples: Lease Agreement (Spectrum Pharmaceuticals Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "pay any cost created by changes made by Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of after Tenant's improvements, which are permanently affixed to the Premises (the "Plans have been approved by both Landlord and Tenant Improvements"). In no event shall Landlord and such cost may be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds funded from the Tenant Improvement Allowance. In addition, After completion of the improvements (construction of which Landlord will monitor and control) Tenant shall contribute an amount not to exceed pay within twenty (20) business days of Tenant's receipt of invoice for any cost overages resulting from changes made by Tenant in approved Tenant's Plans. Landlord will provide a Tenant Improvement Allowance of $0.15 28.00 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the completion of the Work shown in Tenant's Plans including any space planning and engineering costs, data and voice cabling costs and systems furniture (such systems furniture shall not exceed a cost of one (1) preliminary space plan $4.00 per rentable square foot of the Premises). Any unused allowance may be utilized by Tenant during the Term for additional leasehold improvements to the Premises and/or up to $5.00 per rentable square foot of any unused allowance may be converted, at Tenant's request, to an equivalent amount of free rent to be prepared applied against Base Rental as it becomes due pursuant to Paragraph 18(a) of this Lease. In the event Tenant elects to convert up to $5.00 per rentable square foot of any unused allowance into free rent as provided for above, then the Tenant Improvement Allowance set forth herein shall be reduced by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no an equivalent amount. In the event any portion of the Landlord's Drawing Contribution, if any, remaining Tenant Improvement Allowance remains unused after the completion of the Work, Landlord and Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of agree to amend the Lease Commencement Date, then such to specify the manner in which Tenant desires to utilize the unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to allowance in accordance with the installment of such Tenant Improvementsoptions set forth in this Paragraph 8.

Appears in 1 contract

Samples: Lease Agreement (Infinity Property & Casualty Corp)

Tenant Improvement Allowance. Subject to the terms and conditions of this ----------------------------- paragraph below, Landlord shall reimburse Tenant shall be entitled up to a onemaximum amount of Six hundred fourteen thousand, five hundred forty-time tenant improvement allowance one dollars and fifty cents ($614,541.50) (the "Tenant Improvement Allowance") in the amount set forth in Section 12 for (i) hard and soft costs of construction of the Summary for Tenant Improvements, including without limitation, all architectural and engineering fees incurred in connection therewith, sums payable to Landlord in connection therewith, and cabling and signange costs, and (ii) the costs relating brokerage fee payable to Colliers Damner Pike as a result of the initial design Lease. Provided no Event of Default, or Potential Default, shall then exist under the Lease from and construction after the date hereof, Landlord shall make advances to Tenant of the Tenant Improvement Allowance upon presentation of invoices from Tenant or the person performing the work or rendering the service and such reasonable supporting documentation as Landlord may require, including, without limitation, mechanics' lien releases and certificates of payment issued by the Tenant's improvementsArchitect and, which if applicable, Tenant's designated representatives. Invoices that are permanently affixed to submitted and approved by Landlord shall be paid on or before the Premises fifteenth (15/th/) day of the "Tenant Improvements")following month. In no event shall addition, Tenant must provide Landlord with valid invoices prior to June 30, 1999 to be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds available for reimbursement under the Tenant Improvement Allowance, provided said date of June 30, 1999 may be extended to a maximum outside date of December 31, 1999, if Tenant is delayed on constructing its tenant improvement as a result of matters beyond Tenant's reasonable control and Tenant promptly notifies Landlord of such delay. In additionExcept as expressly provided above, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights obligation to disburse any additional monies to Tenant, with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under Allowance, the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to or the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementsreimbursement under this Paragraph 3.

Appears in 1 contract

Samples: Office Lease (Walker Interactive Systems Inc)

Tenant Improvement Allowance. Tenant shall be entitled Subject to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount any restrictions, conditions or limitations expressly set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or in a total amount which exceeds the Lease or as otherwise expressly provided by mutual written agreement of Landlord and Tenant, the cost of construction of the Tenant Improvement Allowance. In addition, Improvements shall be paid or reimbursed by Landlord shall contribute an up to a maximum amount not equal to exceed $0.15 125.00 per rentable square foot of the Premises (i.e., $7,831,875.00 based upon 62,655 rentable square feet in the Premises) (the "Landlord's Drawing ContributionTenant Improvement Allowance") toward the cost of one (1) preliminary space plan ), which amount is being made available by Landlord to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion applied towards the Cost of Improvements for the Landlord's Drawing Contribution, if any, remaining after the completion construction of the Tenant Improvements in the Premises, less any reduction in or charge against such amount pursuant to any applicable provisions of this Tenant Work Letter. Tenant shall be available responsible, at its sole cost and expense, for payment of the entire Cost of Improvements of the Tenant Improvements in excess of the Tenant Improvement Allowance (such excess amount is referred to herein as the "Tenant Funds Amount", including (but not limited to) any costs or cost increases incurred as a result of delays (unless caused by Landlord), governmental requirements or unanticipated conditions (unless caused by Landlord), and for payment of any and all costs and expenses relating to any alterations, additions, improvements, furniture, furnishings, equipment, fixtures and personal property items which are not eligible for application of Tenant Improvement Allowance funds under the restrictions expressly set forth below in this paragraph, but Tenant shall be entitled to use or apply the entire Tenant Improvement Allowance toward the Cost of Improvements of the Tenant Improvements (subject to any applicable restrictions, conditions, limitations, reductions or charges set forth in the Lease or in this Tenant Work Letter) prior to being required to expend any of Tenant’s own funds for the Tenant Improvements. The funding of the Tenant Improvement Allowance shall be made on a monthly basis or at other convenient intervals mutually approved by TenantLandlord and Tenant and in all other respects shall be based on such commercially reasonable disbursement conditions and procedures as Landlord, Project Manager and Landlord’s lender (if any) may reasonably prescribe. In Notwithstanding the event that foregoing provisions, under no circumstances shall the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized any portion thereof be used or useable by Tenant on for any moving or before the first relocation expenses of Tenant, or for any Cost of Improvement (1stor any other cost or expense) anniversary of the Lease Commencement Dateassociated with any moveable furniture or trade fixtures, then such unused amounts shall revert to Landlordpersonal property or any other item or element which, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms applicable provisions of the Lease; provided, however, Landlord may, by written notice to Tenant prior to will not become Landlord’s property and remain with the end Building upon expiration or termination of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Lease (Unity Biotechnology, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") ”), in the amount set forth in Section 12 T of the Summary of Basic Lease Terms, for the costs relating to the initial design and construction of Tenant's improvements, ’s improvements which are permanently affixed to the Premises (and/or, to the "extent Tenant timely exercises its expansion option with respect to the Xxxxxx Expansion Space and the amount set forth in Section T of the Summary is amended pursuant to Section 1.5.5 above, the Xxxxxx Expansion Space) (the “Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before in the first Premises within eighteen (1st18) anniversary of months after the Lease Commencement Date (or, if Tenant exercises its expansion option with respect to the Xxxxxx Expansion Space, in the Premises and/or the Xxxxxx Expansion Space within eighteen (18) months after the Xxxxxx Expansion Space Commencement Date), then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's ’s reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor vender must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's ’s property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's ’s expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements; provided, further, however, that notwithstanding the foregoing, upon written request by Tenant at the time of Tenant’s request for Landlord’s approval of the “Final Working Drawings” (as that term is defined in Section 3.3 below), Landlord shall notify Tenant whether all or any portion of the Tenant Improvements will be required to be removed pursuant to the terms of this Section 2.1.

Appears in 1 contract

Samples: Acceptance Agreement (Rodgers Silicon Valley Acquisition Corp)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") ), in the amount set forth in Section 12 U of the Summary of Basic Lease Terms, for the costs relating to the initial design and construction of Tenant's improvements, improvements which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord The Tenant Improvement Allowance shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises expire two ("Landlord's Drawing Contribution"2) toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining years after the completion Delivery Date and any unused amount of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant remaining on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts date shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor vender must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord, such approvals not to be unreasonably withheld, conditioned or delayed. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements; provided, however, that, notwithstanding the foregoing, upon written request by Tenant at the time of Tenant's request for Landlord's approval of the "Final Space Plan" and/or the "Final Working Drawings" (as those terms are defined in Section 3.2 and Section 3.3 of this Tenant Work Letter), Landlord shall notify Tenant in writing whether any item of the Tenant Improvements reflected in the Final Space Plan and/or the Final Working Drawings will be required to be removed pursuant to the terms of this Section 2.1.

Appears in 1 contract

Samples: Lease (PROCEPT BioRobotics Corp)

Tenant Improvement Allowance. Effective as of the expiration of the Wachovia SNDA Termination Period (provided Tenant has not delivered the Wachovia SNDA Termination Notice to Landlord) and the expiration of the Mortgagee Approval Period, if and so long as there is no Event of Default under the Lease and subject to the provisions of this Section 4, Landlord acknowledges and agrees that Landlord shall contribute the sum of $265,764.00 (the “Tenant Improvement Allowance”) to the hard and soft costs, including, without limitation, architectural, design, consulting, permit and engineering fees, related to the Tenant’s improvements to the Premises (the “Tenant Improvements”). Tenant may apply up to thirty five percent (35%) of the Tenant Improvement Allowance to pay for Tenant’s audio visual equipment for board rooms, demo/training rooms, computer rooms and other furniture, fixtures and equipment. In addition, Tenant shall have the right to use up to 25% of any unused portion of the Tenant Improvement Allowance as a rent credit to be applied against future Rent payments (the “Credit Amount”), but Landlord shall have no further obligation with respect to any remaining unused portion of the Tenant Improvement Allowance if any portion of the Tenant Improvement Allowance above the Credit Amount remains unspent by Tenant as of October 31, 2011. From time-to-time, but not more than once a month, Tenant may give Landlord a Requisition (as defined below) for so much of the Work Cost (as defined below) as arose since the end of the period to which the most recent prior Requisition related, or, with respect to the first Requisition, for the Work Cost previously incurred. Provided that no Event of Default has occurred and is continuing, within thirty (30) days after Landlord receives a complete Requisition, Landlord shall pay Tenant ninety percent (90%) of the Work Cost reflected in such Requisition and shall withhold the remaining ten percent (10%) of Work Cost (the “Retainage”); and provided that no Event of Default has occurred and is continuing under the Lease, within thirty (30) days after Tenant furnishes Landlord with (x) a final, stamped set of “as built” plans for the Premises from Tenant’s architect which demonstrates that the Tenant Improvements have been completed substantially in accordance with plans and specifications approved by Landlord and (y) its final Requisition which demonstrates that the Tenant Improvements have been substantially completed and paid for in full by Tenant, Landlord shall pay Tenant the Retainage. In the event Landlord fails to pay any portion of the Tenant Improvements for which a Requisition is properly submitted hereunder within thirty (30) days, and such failure continues for more than five (5) days after a notice of intent to deduct from Tenant, then Tenant shall be entitled to a one-time tenant improvement allowance offset the Requisition amount against twenty (the "Tenant Improvement Allowance"20%) in the amount set forth in Section 12 of the Summary for the costs relating to the initial design monthly Basic Rent and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of Additional Rent due under the Lease Commencement Date, then until such unused amounts shall revert Requisition amount due to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance under this Section 4 has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementsreimbursed in full.

Appears in 1 contract

Samples: Lease (Virtusa Corp)

Tenant Improvement Allowance. Commencing as of the date of this First Amendment, Tenant shall be entitled to a one-time tenant an aggregate improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 (i) $6,573,187.50 (i.e., $82.50 per RSF of the Summary Expansion Premises) (the “Expansion Premises Tenant Improvement Allowance”) for the costs relating to the initial design and construction of Tenant's improvements, refurbishment work and other renovations to be performed by Tenant in and adjacent to the Expansion Premises or which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space PlannerAllowance Items," as that term is defined in Section 3.12.2.1, belowbelow for the Expansion Premises (the “Expansion Tenant Improvements”), and no portion (ii) $407,060.00 (i.e., $5.00 per RSF of the LandlordExisting Premises) (the “Existing Premises Tenant Improvement Allowance”) for the costs relating to the design and construction of Tenant's Drawing Contributionimprovements, if anyrefurbishment work and other renovations currently being performed or to be performed by Tenant in and adjacent to the Existing Premises or which are Tenant Improvement Allowance Items for the Existing Premises (the “Existing Tenant Improvements”). The Expansion Tenant Improvements and the Existing Tenant Improvements are collectively, remaining after the completion "Tenant Improvements". For the avoidance of doubt, Tenant is not required to expend the Expansion Premises Tenant Improvement Allowance or the Additional TI Allowance equally across the Expansion Premises, and Tenant is not required to expend the Existing Premises Tenant Improvement Allowance equally across the Existing Premises (and may, for example, expend most of the Existing Premises Tenant Improvement Allowance in the 900 Building. All Tenant Improvements shall be available that have been paid for use by Tenant. In the event that with or reimbursed from the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant given concurrently with Landlord's approval of the "Final Working Drawings", as that term is defined in Section 3.3, below, require Tenant, prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any portion of the Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their a condition with removed systems components capped, Building standard ceiling tiles in good condition, and sheet rock and floors patched and repaired to match existing prior conditions of the remainder of the Premises. Landlord approves in concept and shall not require Tenant to remove any of the Tenant Improvements to the installment extent shown on the Space Plan attached hereto as Schedule 1. The Tenant Improvement Allowance may not be used by Tenant for the purchase or installation of furniture, fixtures or equipment (other than an autoclave and glasswash), or for telephone or data cabling, or any other personal property. Any portion of the Existing Premises Tenant Improvement Allowance as to which Tenant has not properly requested disbursement by the date which is twelve (12) months following the Effective Date, as such date may be extended by one (1) day for each day of delay by Tenant Improvementsin completing the Tenant Improvements in the Existing Premises due to an event which qualifies as a Landlord Caused Delay (as defined in Section 5.5.1 below) or Coronavirus Delay (as defined in Section 5.5.2 below) for the Tenant Improvements in the Existing Premises only (the “Existing Premises Outside Allowance Date”), shall revert to Landlord and Tenant shall have no further rights with respect thereto. Any portion of the Expansion Premises Tenant Improvement Allowance as to which Tenant has not properly requested disbursement by the date which is twelve (12) months following the Expansion Commencement Date, as such date may be extended by one (1) day for each day of delay by Tenant in completing the Tenant Improvements in the Expansion Premises due to an event which qualifies as a Landlord Caused Delay or Coronavirus Delay for the Tenant Improvements in the Expansion Premises only (the “Expansion Premises Outside Allowance Date”), shall revert to Landlord and Tenant shall have no further rights with respect thereto. Each of the Existing Premises Outside Allowance Date, the Expansion Premises Outside Allowance Date and the Expansion Premises Outside Additional Allowance Date shall be an “Outside Allowance Date.

Appears in 1 contract

Samples: Lease (Adverum Biotechnologies, Inc.)

Tenant Improvement Allowance. In connection with Tenant's lease of the Expansion Space, Landlord will provide Tenant shall be entitled to a one-time tenant with an improvement allowance (the "Tenant Improvement Allowance") in of Three and 50/100 Dollars ($3.50) per rentable square foot of the amount Expansion Space ($20,356.00) to complete, subject to the terms and conditions set forth in this Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements6, which are permanently affixed to the Premises certain improvements (the "Tenant Improvements") to the Expansion Space desired to be made by Tenant. Prior to commencement of the Tenant Improvements, Tenant will furnish Landlord with all plans and specifications, if any, for Landlord's approval (which approval shall not be unreasonably withheld or delayed). In no event If Tenant elects to use its own contractor to construct the Tenant Improvements, such contractor shall be licensed and approved by Landlord (approval not to be obligated unreasonably withheld or delayed) prior to make disbursements pursuant commencement of the Tenant Improvements. Upon Landlord's approval of the plans and specifications for the Tenant Improvements and Tenant's contractor, Tenant may commence the Tenant Improvements. The Tenant Improvements shall be performed and completed in compliance with all applicable laws, codes, rules and regulations, without any unpaid claims for material, labor or supplies. Tenant shall furnish to Landlord executed construction permits and such invoices, affidavits, releases, and other documentation as Landlord may reasonably request, to be assured, to Landlord's satisfaction, that the Tenant Improvements have been completed in accordance with the plans and specifications, if any, approved by Landlord and have been paid for by Tenant. Provided Tenant complies with all of the terms and conditions of this Section 6, including but not limited to, proof of payment of all bills and delivery to Landlord of unconditional lien releases from all contractors, subcontractors and material suppliers, Landlord shall reimburse Tenant Work Letter within thirty (30) days after completion of the Tenant Improvements for Tenant's costs incurred in connection with the Tenant Improvements up to an amount not to exceed the amount of the Tenant Improvement Allowance. Tenant will be responsible for paying all costs of the Tenant Improvements in excess of the Tenant Improvement Allowance. If the cost of the Tenant Improvements is less than the Tenant Improvement Allowance, Tenant shall receive a total credit against the Base Rent next becoming due under the Lease in the amount which exceeds of any unused portion of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as event that term is defined in Section 3.1, below, and no Tenant demolishes any walls between any portion of the Landlord's Drawing ContributionExpansion Space and any suite(s) adjacent to the Expansion Space (e.g., if anythe demising wall between Suites 1050 and 1060), remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require replace such walls upon the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, expiration or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion lease of the Premises Expansion Space unless Tenant extends Tenant's lease of the Expansion Space for a term of not less than three (3) years beyond the Expansion Space Termination Date, in which event Tenant shall not be required to their condition existing prior to the installment of such Tenant Improvementsreplace any demolished walls.

Appears in 1 contract

Samples: Office Lease (Ticketmaster)

Tenant Improvement Allowance. A. Subject to Tenant’s compliance with the provisions of this Exhibit B, Landlord shall provide to Tenant shall be entitled to a one-time tenant improvement an allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating up to the initial design Seven and construction of Tenant's improvements, which are permanently affixed to the Premises 50/100 Dollars and (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 7.50) per rentable square foot of the Expanded Premises or $716,677.50 ("Landlord's Drawing Contribution"the “Tenant Improvement Allowance”) toward to construct and install only the Tenant Improvements. The Tenant Improvement Allowance shall be used to design, prepare, plan, obtain the approval of, construct and install the Tenant Improvements PTFDOCS-#77647-v5-Proofpoint_Second_Amendment EXHIBIT 10.06 and for no other purpose. Except as otherwise expressly provided herein, Landlord shall have no obligation to contribute the Tenant Improvement Allowance unless and until the Construction Documents have been approved by Landlord and Tenant has complied with all requirements set forth in Paragraph 4.C. of this Exhibit B. In addition, Landlord shall provide to Tenant an allowance in the amount of up to Two and 50/100 Dollars and ($2.50) per rentable square foot of the Expanded Premises or $238,892.50 (the “Building Systems Allowance”) to pay for the cost of one replacing and/or upgrading all VAV boxes and associated ductwork in the 000 Xxxx Xxxxx Building and the 000 Xxxx Xxxxx Building and certain other replacements or improvements to the building systems serving the 000 Xxxx Xxxxx Building and/or 000 Xxxx Xxxxx Building mutually approved by Landlord and Tenant (1collectively, the “Building Systems Improvements”) preliminary space plan and for no other purpose. The Tenant Improvement Allowance and the Building Systems Allowance are sometimes collectively referred to be prepared by "Architect/Space Planner," herein as the “Allowances.” Landlord shall have no obligation to disburse all or any portion of the Allowances to Tenant unless Tenant makes a progress payment request pursuant to the terms and conditions of Section 5.B. below after the date of the Second Amendment but prior to that date which is twelve (12) months after the Expansion Commencement Date (as such term is defined in Section 3.1, below, the Second Amendment). The Tenant Improvements shall be constructed after the mutual execution and no portion delivery of the Landlord's Drawing ContributionSecond Amendment. The costs to be paid out of (a) the Tenant Improvement Allowance shall include all reasonable costs and expenses associated with the design, if anypreparation, remaining after the completion approval, planning, construction and installation of the Tenant Improvements (the “Tenant Improvement Costs”), and (b) the Building Systems Allowance shall be available for use by Tenant. In include all reasonable costs and expenses associated with the event that design, preparation, approval, planning, construction and installation of the Building Systems Improvements (the “Building Systems Costs”), including all of the following as such items relate to the Tenant Improvement Allowance Costs or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.Systems Costs:

Appears in 1 contract

Samples: Lease Agreement (Proofpoint Inc)

Tenant Improvement Allowance. In connection with Tenant's lease of the Expansion Space, Landlord will provide Tenant shall be entitled to a one-time tenant with an improvement allowance (the "Tenant Improvement Allowance") in of Three and 50/100 Dollars ($3.50) per rentable square foot of the amount Expansion Space ($15,596.00) to complete, subject to the terms and conditions set forth in this Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements7, which are permanently affixed to the Premises certain improvements (the "Tenant Improvements") to the Expansion Space desired to be made by Tenant. Prior to commencement of the Tenant Improvements, Tenant will furnish Landlord with all plans and specifications, if any, for Landlord's approval (which approval shall not be unreasonably withheld or delayed). In no event If Tenant elects to use its own contractor to construct the Tenant Improvements, such contractor shall be licensed and approved by Landlord (approval not to be obligated unreasonably withheld or delayed) prior to make disbursements pursuant commencement of the Tenant Improvements. Upon Landlord's approval of the plans and specifications for the Tenant Improvements and Tenant's contractor, Tenant may commence the Tenant Improvements. The Tenant Improvements shall be performed and completed in compliance with all applicable laws, codes, rules and regulations, without any unpaid claims for material, labor or supplies. Tenant shall furnish to Landlord executed construction permits and such invoices, affidavits, releases, and other documentation as Landlord may reasonably request, to be assured, to Landlord's satisfaction, that the Tenant Improvements have been completed in accordance with the plans and specifications, if any, approved by Landlord and have been paid for by Tenant. Provided Tenant complies with all of the terms and conditions of this Section 7, including but not limited to, proof of payment of all bills and delivery to Landlord of unconditional lien releases from all contractors, subcontractors and material suppliers, Landlord shall reimburse Tenant Work Letter within thirty (30) days after completion of the Tenant Improvements for Tenant's costs incurred in a total connection with the Tenant Improvements up to an amount which exceeds not to exceed the amount of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to Tenant will be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion responsible for paying all costs of the Tenant Improvements shall be available for use by Tenant. In the event that in excess of the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before Allowance. If the first (1st) anniversary cost of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which is less than the Tenant Improvement Allowance has been made available Allowance, Tenant shall be deemed Landlord's property receive a credit against the Base Rent next becoming due under the terms Lease in the amount of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected unused portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsImprovement Allowance.

Appears in 1 contract

Samples: Office Lease (Ticketmaster)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance for the Expansion Premises in an amount equal to $490,880.00 (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary ”), for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Expansion Premises only or which are "Tenant Improvement Allowance Items," as that term is defined in Section 2.2.1, below (collectively, the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or otherwise in connection with Tenant's construction of the Tenant Improvements or any Tenant Improvement Allowance Items, as defined below, in a total amount which exceeds the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot sum of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before and, if applicable, the first “Additional Improvement Allowance” (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlordas defined in Section 2.5 below. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant given concurrently with Landlord's approval of the "Final Working Drawings", as that term is defined in Section 3.3, below, require Tenant, prior to the end of the Lease Term, or given following any earlier termination of this the Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements which are “Specialty Improvements” (defined below) and to repair any damage to the Expansion Premises and Expansion Building caused by such removal and return the affected portion of the Expansion Premises to their condition existing prior a Building standard general office condition. In connection with the foregoing, Landlord hereby agrees that Tenant shall not be obligated to remove any alterations or tenant improvements presently installed in the installment Expansion Premises. As used herein, “Specialty Improvements” shall mean any Tenant Improvements other than normal and customary general office, life science and research and development improvements, and shall expressly include (a) raised floor systems; (b) any showers or similar facilities in the Premises that are not part of such the base, shell and core of the Building or which require floor reinforcement or floor penetrations; (c) any staircase; and (d) any installations outside of the Premises, or any areas requiring floor reinforcement, personal baths and showers; and (e) any alterations or Tenant Improvements.Improvements that adversely affect the Building structure or adversely affect the Building systems. Any portion of the Tenant Improvement Allowance that is not disbursed or allocated for disbursement by the date (the “Allowance Outside Date”) which is twelve (12) months from the Expansion Possession Date, shall revert to Landlord and Tenant shall have no further rights with respect thereto. EXHIBIT B

Appears in 1 contract

Samples: Lease Agreement (Vaxart, Inc.)

Tenant Improvement Allowance. Subject to the terms and conditions of this Xxxxxxxxx 0, Xxxxxxxx shall pay on behalf of Tenant shall be entitled up to a onemaximum amount of Fifty Eight Thousand One Hundred Sixty-time tenant improvement allowance Six and 25/100 Dollars ($58,166.25) (or a maximum of $3.75 per rentable square foot of Premises) for the construction of Tenant Improvements in the Premises (the "Tenant Improvement Allowance"), including without limitation, all architectural and engineering fees incurred in connection therewith, project and construction management fees, real property improvements, and all sums payable to Landlord as provided in Paragraph 4 below. The Tenant Improvement Allowance shall be paid as follows: upon the presentation of invoices to Landlord from Tenant or the person performing the work or rendering the services or providing the materials and such supporting documentation as Landlord may reasonably require, including, without limitation, identification of the work completed and/or material supplied, mechanic lien releases and certificates of payment issued by the Tenant's Architect and Tenant's designated representative, Landlord shall pay such invoices on or before the fifteenth (15th) day of the following month to the person performing the work or rendering the services or providing the materials. Notwithstanding anything to the contrary contained herein or in the amount set forth in Section 12 Lease, the obligation of Landlord to make any one or more payments pursuant to the provisions of this Paragraph 3 shall be suspended without further act of the Summary for parties during any such time as there exists an Event of Default by Tenant under the costs relating Lease. The Tenant Improvement Allowance must be utilized by Tenant, if at all, prior to March 1,2000. As of such date, Tenant shall forfeit any remaining balance of the Tenant Improvement Allowance that Tenant has not utilized pursuant to the initial design terms of this EXHIBIT C. Tenant shall bear the cost of any and construction of Tenant's improvements, which are permanently affixed all Tenant Improvements to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds excess of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Office Lease (Redenvelope Inc)

Tenant Improvement Allowance. Commencing as of the Execution Date, Tenant shall be entitled to a one-time tenant improvement allowance (use the "Tenant Improvement Allowance") in the amount set forth ”, as defined in Section 12 5 of the Summary to this Lease, for the costs relating to the initial design and construction of Tenant's ’s improvements, which are permanently affixed to the Premises or which are “Tenant Improvement Allowance Items,” as that term is defined in Section 2.2.1, below (collectively, the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or otherwise in connection with Tenant’s construction of the Tenant Improvements or any Tenant Improvement Allowance Items, as defined below, in a total amount which exceeds the sum of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's ’s property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant given concurrently with Landlord’s approval of the “Final Working Drawings”, as that term is defined in Section 3.3, below, require Tenant, prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's ’s expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior a Building standard general office condition, provided, however, that Landlord may not require Tenant to remove any Alterations which are otherwise consistent with typical tenant improvements in the installment biotechnology or pharmaceutical industries. Landlord hereby acknowledges and agrees that the following do not need to be removed if installed: clean suites, and any office space. Any portion of such the Tenant ImprovementsImprovement Allowance that is not disbursed or allocated for disbursement by February 28, 2020, shall revert to Landlord and Tenant shall have no further rights with respect thereto.

Appears in 1 contract

Samples: Lease (Allogene Therapeutics, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of $301,180.00 (based upon $20.00 per useable square foot contained within the Summary Premises for the costs relating to the initial design and construction of Tenant's improvements, improvements which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord Allowance and in no event shall contribute an amount not Tenant be entitled to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no any credit for any portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution which is not fully utilized used by Tenant on or before the first date which is three (1st3) anniversary of months after the Lease Commencement Date. Notwithstanding the foregoing, then such unused amounts shall revert in the event costs to Landlord, and Tenant shall have no further rights with respect thereto. Any be incurred for the Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which exceed the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; providedAllowance, however, Landlord mayTenant may elect, by written notice to Tenant prior to Landlord at any time on or before the end commencement of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expenseconstruction, to remove any increase the Tenant Improvements and Improvement Allowance by up to repair any damage to Five Dollars ($5.00) per usable square foot contained within the Premises and Building caused by such removal and return ("Additional Allowance"). If Tenant exercises its option to so increase the affected portion of Tenant Improvement Allowance, Monthly Basic Rental for the Premises shall be increased throughout the initial Term by an amount sufficient to their condition existing prior to amortize the installment Additional Allowance over a ten (10) year term based upon equal monthly payments of such Tenant Improvements.principal and interest, with interest imputed on the outstanding principal balance at ten percent (10%) per annum. EXHIBIT "D" 1 Initials: ____ ____

Appears in 1 contract

Samples: Office Lease (Inetvisionz Com Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of $25.00 per rentable square foot of the Summary Premises for the costs relating to the design and construction of Tenant’s improvements which are permanently affixed to the Premises (the “Tenant Improvements”). Within thirty (30) days following the Lease Commencement Date, Tenant shall be entitled, pursuant to a written notice delivered to Landlord, to a one-time increase (the “Additional Allowance”) of the Tenant Improvement Allowance in an amount not to exceed $5.00 for each rentable square foot of the Premises, for the costs relating to the initial design and construction of Tenant's improvementsthe Tenant Improvements. In the event Tenant exercises its right to use all or any EXHIBIT B CHINA BASIN LANDING portion of the Additional Allowance, the monthly Base Rent for the Premises shall be increased by an amount equal to the “Additional Monthly Base Rent,” as that term is defined below, in order to repay the Additional Allowance to Landlord. The “Additional Monthly Base Rent” shall be determined as the missing component of an annuity, which are permanently affixed annuity shall have (i) the amount of the Additional Allowance which Tenant elects to utilize as the present value amount, (ii) sixty (60) as the number of payments, (iii) seventy-five one-hundredths (.75), which is equal to nine percent (9%) divided by twelve (12) months per year, as the monthly interest factor, and (iv) the Additional Monthly Base Rent as the missing component of the annuity. In the event Tenant elects to utilize all or a portion of the Additional Allowance, then (a) all references in this Tenant Work Letter to the Premises “Tenant Improvement Allowance”, shall be deemed to include the Additional Allowance which Tenant elects to utilize, (b) the parties shall promptly execute an amendment (the "“Amendment”) to this Lease setting forth the new amount of the Base Rent and Tenant Improvements")Improvement Allowance computed in accordance with this Section 2.1, and (c) the additional amount of monthly Base Rent owing in accordance with this Section 2.1 for the first full month of the Lease Term which occurs after the expiration of any free rent period shall be paid by Tenant to Landlord at the time of Tenant’s execution of the Amendment. 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 and the Additional Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's ’s property under the terms of the Lease; provided. Notwithstanding the foregoing, howeverupon Txxxxx’s request, Landlord may, by written notice to Tenant prior to at the end of the Lease Term, expiration or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove Landlord shall negotiate with Tenant in good faith towards the purchase by Tenant of all or any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises Tenant Improvements, at the then-current fair market value for such Tenant Improvements. Upon Txxxxx’s request, Landlord and Tenant shall retain an independent third party (mutually approved by Landlord and Tenant) to their condition existing prior to determine the installment fair market value of such Tenant Improvements. The fees of such third party shall be split evenly between Landlord and Tenant.

Appears in 1 contract

Samples: Office Lease (LoopNet, Inc.)

Tenant Improvement Allowance. Upon completion of all or a portion of the Tenant shall Improvements, Tenant may make one or more requests in writing for a disbursement of a portion of the Tenant Improvement Allowance (which disbursement requests may not be entitled to made more frequently than monthly and may not be made for a one-time tenant improvement allowance (disbursement request of less than $50,000 per request, excluding, however, the "final disbursement of the Tenant Improvement Allowance"). Each disbursement request shall include (a) a reasonably detailed description of the completed portion of the Tenant Improvements, (b) the total cost of the completed Tenant Improvements, and (c) copies of paid invoices evidencing the actual, out-of-pocket expenses incurred by Tenant for the completed Tenant Improvements. For thirty (30) days after receipt of Tenant’s request for disbursement, Landlord shall have the right to review such submission and have its building supervisor or property manager inspect the Property and verify that the portion of the Tenant Improvements for which a portion of the Tenant Improvement Allowance is then requested have been completed in accordance with the amount Tenant’s Plans, as approved by Landlord, and this Exhibit “B”. It shall be a condition precedent to any disbursement of the Tenant Improvement Allowance that Tenant shall have furnished to Landlord executed unconditional partial or final mechanics lien releases from Tenant’s Contractors and all other parties (if any) who performed such work in connection with the applicable portion of Tenant Improvements as set forth in Section 12 3(g) of this Exhibit “B”. Subject to such review, inspection and the conditions set forth in this Exhibit “B”, Landlord shall disburse to Tenant the portion of the Summary for Tenant Improvement Allowance requested within forty-five (45) days after the costs relating to the initial design and construction date of Tenant's improvements’s written request therefor. Any request for disbursement of the Tenant Improvement Allowance shall be made by Tenant within twenty four (24) months of the date of the Amendment, which are permanently affixed twenty four (24) month period may be reasonably extended due to the Premises Force Majeure Delays, as defined below (the "Tenant Improvements"“TI Deadline”). In the event that Tenant fails to complete the Tenant Improvements and properly request the Tenant Improvement Allowance on or prior to the TI Deadline, Tenant shall be deemed to have forfeited any and all right to receive any then-undisbursed portion of the Tenant Improvement Allowance. Notwithstanding the foregoing, in no event shall Landlord be obligated required to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no pay any portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized at any time during which default by Tenant on has occurred under this Lease and remains outstanding. For purposes of this Work Letter, “Force Majeure Delay(s)” shall include, without limitation, strikes, lockouts or before labor disputes, inability to obtain labor or materials or reasonable substitutes therefor, unusual weather conditions, acts of God or the first (1st) anniversary public enemy, acts of terrorism, condemnation, civil commotion, fire of other casualty, shortage of fuel, willful or negligent action or omission of a Landlord Party, action or nonaction of public utilities or of local, state or federal governments or authorities affecting the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require or the use of Building risers, raceways, shafts and/or conduits, shall be subject ability to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Termobtain permits or entitlements, or given following any earlier termination other events, acts or conditions which are beyond the reasonable control of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Deed of Lease (Elizabeth Arden Inc)

Tenant Improvement Allowance. Tenant Landlord shall be entitled make up to a one-time tenant improvement allowance One Hundred Sixty Thousand Six Hundred Eighty Dollars ($160,680) (the "Fourth Amendment Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary available to Tenant after January 1, 2002 but before October 1, 2003 to reimburse Tenant for the actual out-of-pocket costs relating paid to the initial design third parties for designing and construction of Tenant's improvements, which are permanently affixed constructing tenant improvements to the Premises pursuant to plans reasonably approved by Landlord and otherwise subject to the provisions of Section 14. Landlord shall pay the Fourth Amendment Tenant Improvement Allowance within thirty (30) days of invoice submitted after the improvements have been inspected and accepted by Tenant (less minor punch list items). Landlord may require lien releases as a condition of payment. Tenant confirms that Landlord's obligations under any previous tenant improvement allowances have been satisfied. If Tenant utilizes the entire Fourth Amendment Tenant Improvement Allowance, Landlord shall make available to Tenant after January 1, 2002 but before October 1, 2003 up to an additional Two Hundred Seventy-Five Thousand Dollars ($275,000) as a supplemental Tenant Improvement Allowance (the "Fourth Amendment Supplemental Tenant ImprovementsImprovement Allowance"). In no event shall Landlord ) to be obligated expended for the same purposes, subject to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the same approvals, and with the same disbursement provisions as the Fourth Amendment Tenant Improvement Allowance. In additionIf Tenant utilizes all or some of the Fourth Amendment Supplemental Tenant Improvement Allowance, Landlord then commencing with the first payment of Base Monthly Rent due after payment of the Fourth Amendment Supplemental Tenant Improvement Allowance, Tenant shall contribute pay monthly, as additional Base Monthly Rent, an amount not sufficient to exceed $0.15 per rentable square foot of amortize the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Fourth Amendment Supplemental Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before an equal payments basis over the then remaining term of this Lease (excluding any renewal terms) with interest at ten percent (10%) per annum (which payments shall include amortization of interest accrued from date of disbursement to the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementsamortization payment).

Appears in 1 contract

Samples: Lease (Sonus Pharmaceuticals Inc)

Tenant Improvement Allowance. Landlord and Tenant agree that ---------------------------- Landlord's architect shall complete the design of the proposed office floor plans. The cost of preparing the drawings, specifications, finish schedules and the like will be part of the Tenant Costs outlined below. Landlord agrees to deliver to Tenant, as soon as is reasonably possible, the proposed final working drawings, specifications, and finish schedules for the Tenant Improvements, and Tenant shall be entitled have the right to approve or disapprove such drawings and make changes as required by Tenant. Once Tenant notifies Landlord that the drawings and specifications are acceptable, then Landlord will proceed to obtain a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary price schedule for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements Improvements. Landlord and Tenant agree that Landlord's contractor shall construct the Tenant Improvements. Upon Landlord's receipt of acceptance drawings and specifications, Landlord shall obtain from Landlord's contractor a detailed price schedule for the Tenant Improvements, and will submit the same to Tenant for its approval. If Tenant disapproves such price schedule, Tenant agrees to work promptly with Landlord's architect to alter the drawings and specifications as necessary to cause the price schedule to be acceptable to Tenant. The aggregate cost for the Tenant Improvements, once approved by Tenant, shall be available referred to as the "Tenant Improvement Costs." Landlord shall pay the Tenant Improvements Costs equal to the amount of $100,000. Tenant Costs shall include the Tenant Improvement Cost; the cost of preparing and finalizing all drawings, specifications, finish schedules and the like; fees for use architects, engineers and interior designers incurred by TenantLandlord in connection with the Tenant Improvement; the cost of making any and all changes in and to the drawings and specifications and any increase or decrease cost in the Tenant Improvement Cost resulting therefrom through the term of this Lease. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement DateCosts exceed $100,000, then such unused amounts excess cost shall revert to Landlord, and be the responsibility of Tenant. Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject pay to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of contractor any such cabling must be approved amount in excess of $100,000 pursuant to the terms mutually agreed upon by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed and Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementscontractor.

Appears in 1 contract

Samples: Radiant Systems Inc

Tenant Improvement Allowance. Tenant shall be entitled Subject to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount any restrictions, conditions or limitations expressly set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or in a total amount which exceeds the Tenant Improvement Allowance. In additionLease or as otherwise expressly provided by mutual written agreement of Landlord and Tenant, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion construction of the Tenant Improvements shall be paid or reimbursed by Landlord up to a maximum amount as set forth in Section 5 of the Summary to the Lease (the “Tenant Improvement Allowance”), which amount is being made available by Landlord to be applied towards the Cost of Improvements for the construction of the Tenant Improvements in the Initial Premises and Pad only (and not the Additional Premises) and, to the extent any of the Tenant Improvement Allowance remains after the Lease Commencement Date, to Alterations to be made by Tenant to the Initial Premises or the Pad. Tenant shall be responsible, at its sole cost and expense, for payment of the entire Cost of Improvements of the Tenant Improvements in excess of the Tenant Improvement Allowance, including (but not limited to) any costs or cost increases incurred as a result of delays (unless caused by Landlord), governmental requirements or unanticipated conditions (unless caused by Landlord), and for payment of any and all costs and expenses relating to any alterations, additions, improvements, furniture, furnishings, equipment, fixtures and personal property items which are not eligible for application of Tenant Improvement Allowance funds under the restrictions expressly set forth below in this paragraph, but Tenant shall be entitled to use or apply the entire Tenant Improvement Allowance toward the Cost of Improvements of the Tenant Improvements (subject to any applicable restrictions, conditions, limitations, reductions or charges set forth in the Lease or in this Tenant Work Letter) prior to being required to expend any of Tenant’s own funds for the Tenant Improvements. The funding of the Tenant Improvement Allowance shall be made on a monthly basis or at other convenient intervals mutually approved by TenantLandlord and Tenant and in all other respects shall be based on such commercially reasonable disbursement conditions and procedures as Landlord, Project Manager and Landlord’s lender (if any) may reasonably prescribe. In Notwithstanding the event that foregoing provisions, under no circumstances shall the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized any portion thereof be used or useable by Tenant on for any moving or before relocation expenses of Tenant, or for any Cost of Improvement (or any other cost or expense) associated with any moveable furniture or trade fixtures, personal property or any other item or element which, under the first applicable provisions of the Lease, will not become Landlord’s property and remain with the Building upon expiration or termination of the Lease, and (1stii) anniversary except as otherwise expressly provided in this Tenant Work Letter or expressly approved by Landlord in writing, any portion of the Tenant Improvement Allowance which has not been claimed or drawn by Tenant prior to the later of the Lease Commencement DateDate and the date which is twelve (12) moths following the date of the full execution and delivery of this Lease by Landlord and Tenant, then such unused amounts shall revert expire and shall no longer be available to LandlordTenant thereafter, and subject to extension by one (1) day for each day Tenant shall have no further rights with respect theretois delayed in competing its Alterations due to Landlord Delay or Unavoidable Delays. Any Notwithstanding anything to the contrary herein, the Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall not include (and Landlord shall be subject to Landlord's reasonable rules, regulations, solely responsible for and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall not be deemed Landlord's property under used for) the terms following: (a) costs incurred due to the presence of any Hazardous Materials in or about the Initial Premises, if any; (b) costs to bring the Project into compliance with Applicable Laws to the extent required in order to allow Tenant to obtain a certificate of occupancy or its legal equivalent, for the Initial Premises for the Permitted Use assuming a normal and customary office occupancy density; (c) construction costs in excess of the Leasecontract amount stated in the contract with the General Contractor, as approved by Tenant (not to be unreasonably withheld), except for increases set forth in change orders approved by Tenant; provided(d) wages, howeverlabor and overhead for overtime and premium time unless approved by Tenant (which approval shall not be unreasonably withheld, Landlord mayconditioned or delayed); (e) attorneys’ fees incurred in connection with negotiation of construction contracts, and attorneys’ fees, experts’ fees and other costs in connection with disputes with third parties; (f) interest and other costs of financing construction costs; (g) costs incurred as a consequence construction defects or default by written notice a contractor; (h) costs as a consequence of casualties; (i) penalties and late charges attributable to Tenant prior Landlord’s failure to pay construction costs; and (j) costs due to compliance with the end of soil management plan for the Lease Term, Project or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementsits appendices.

Appears in 1 contract

Samples: Lease (Bolt Biotherapeutics, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to a one-one- time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary One Million Six Hundred Fifty-One Thousand Four Hundred Seventy-Five and 62/100 Dollars ($1,651,475.62) for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"), as well as for the costs of construction of two (2) public lobby areas on the first floor of the Building (including one lobby area at the entrance to the Building, and another at the rear of the Building allowing access to the existing elevator at the rear of the Building), and the finishes of the interiors of the existing Building elevators (collectively, the "Public Area Construction"). In The plans and specifications for such Public Area Construction shall be mutually agreed upon by Landlord and Tenant and included as part of the Construction Drawings. The Public Area Construction shall be completed by Tenant, at Tenant's sole cost and expense (which costs may be deducted from the Tenant Improvement Allowance) in the same manner and in conjunction with Tenant's construction of the Tenant Improvements and for the purposes of this Tenant Work Letter only, such Public Area Construction shall be deemed to be a part of the Tenant Improvements. Additionally, Tenant may, at its option, cause Landlord to construct modifications to the front facade of the Building (the "Facade Modification"). Such Facade Modification shall be at Tenant's sole cost and expense, which cost may be deducted from an additional Two Hundred Thousand Dollar ($200,000.00) allowance (the "Additional Allowance"). If Tenant desires to cause Landlord to construct the Facade Modification, Tenant shall submit plans for the same to Landlord on or before January 15, 1997, and any Facade Modification shall be mutually agreed upon by Landlord and Tenant, and subject to Landlord's prior approval, which may be withheld in Landlord's sole discretion, and shall furthermore comply with all applicable law regarding the same. Any amounts of the Additional Allowance which are not used as part of the Facade Modification shall be added to the Tenant Improvement Allowance. Except in connection with the Landlord Work and Landlord's delivery of the Base Building, 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises (Additional Allowance and "Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.2.2

Appears in 1 contract

Samples: Office Lease (Activision Inc /Ny)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of up to, but not exceeding $30.00 per rentable square foot of the Summary Premises (i.e., up to $589,020.00, based on 19,634 rentable square feet in the Premises), for the all hard and soft costs relating to the initial design and construction of Tenant's improvements, improvements which are permanently affixed to the Premises (the "Tenant Improvements"); provided, however, that Landlord shall have no obligation to disburse all or any portion of the Tenant Improvement Allowance to Tenant unless Tenant makes a request for disbursement pursuant to the terms and conditions of Section 2.2 below prior to June 30, 2019. 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. In additionSo long as no Event of Default exists under the Lease, Tenant may by written request to Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no apply any unused portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by as a credit against Base Rent due under the Lease prior to June 30, 2019. As used in this Tenant on or before Work Letter, the first (1st) anniversary term "unused portion of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements Improvement Allowance" means that require the use portion of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance that has not then been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following disbursed and any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected other portion of the Tenant Improvement Allowance not necessary to pay the costs of any completed Tenant Improvements that remain unpaid and the costs of any other Tenant Improvements under construction at the time Tenant requests application of those funds as a credit against Base Rent. In no event shall the Tenant Improvement Allowance be used for purposes of constructing improvements in the Premises to their condition existing prior to for purposes of offering space for sublease or for the installment benefit of such Tenant Improvements.a subtenant. Exhibit C

Appears in 1 contract

Samples: Lease Agreement (Everbridge, Inc.)

Tenant Improvement Allowance. Commencing as of the date of this First Amendment, Tenant shall be entitled to a one-time tenant an improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of $2,308,515.00 (i.e., $55.00 per rentable square foot of the Summary Remaining Premises) for the costs relating to the initial design and construction of Tenant's improvements, refurbishment work and other renovations to be performed by Tenant in the Remaining Premises or which are permanently affixed to the Premises "Tenant Improvement Allowance Items," as that term is defined in Section 2.2.1, below (collectively, the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or otherwise in connection with Tenant's construction of the Tenant Improvements or any Tenant Improvement Allowance Items, as defined below, in a total amount which exceeds the sum of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, . Landlord may, by written notice to Tenant given concurrently with Landlord's approval of the "Final Working Drawings", as that term is defined in Section 3.3, below, require Tenant, prior to the end of the Lease Term, or given following any earlier termination of this the Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Remaining Premises and Building caused by such removal and return the affected portion of the Remaining Premises to their condition existing prior a Building standard general office condition, provided that Landlord hereby acknowledges that Landlord shall not require removal of the Tenant Improvements shown on the "Preliminary Space Plan" (as that term is defined in Section 3.2 below), and accordingly, so long as the Final Space Plan and Final Working Drawings are substantially consistent with and a logical extension of the Preliminary Space Plan, Landlord shall not require Tenant, whether at the end of the Extended Lease Term, or following any earlier termination of the Lease, to pay for or remove any Tenant Improvements set forth on the Final Working Drawings, to repair any damage to the installment Remaining Premises and Building caused by such removal, or to return the affected portion of the Remaining Premises to a Building standard general office condition. In connection with the foregoing, Landlord hereby agrees that in the event all or any of the potential changes to the Preliminary Space Plan set forth on Schedule 3 attached hereto are implemented into the Final Space Plan and/or Final Working Drawings, such changes would not result in Landlord requiring restoration or removal of any of the Tenant Improvements. Any portion of the Tenant Improvement Allowance that is not disbursed or allocated for disbursement by the date which is eighteen (18) months from the date of the full execution and delivery of this First Amendment, shall revert to Landlord and Tenant shall have no further rights with respect thereto.

Appears in 1 contract

Samples: Lease (TerraVia Holdings, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary Three Hundred Thousand and No/100 Dollars ($300,000.00), for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Expansion Premises or which are "Tenant Improvement Allowance Items," as that term is defined in Section 2.2.1, below (collectively, the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or otherwise in connection with Tenant's construction of the Tenant Improvements or any Tenant Improvement Allowance Items, as defined below, in a total amount which exceeds the sum of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease, as amended; provided, however, Landlord may, by written notice to Tenant given concurrently with Landlord's approval of the "Final Working Drawings", as that term is defined in Section 3.3, below, require Tenant, prior to the end of the Lease Expansion Term, or given following any earlier termination of this Lease, require Tenantas amended, at Tenant's expense, to remove any Tenant Improvements which are reasonably be deemed to be Specialty Alterations (as that term is defined in Section 8.5 of the Lease) and to repair any damage to the Expansion Premises and Building caused by such removal and return the affected portion of the Expansion Premises to their condition existing prior a Building standard general office condition. Any portion of the Tenant Improvement Allowance that is not disbursed or allocated for disbursement by the date which is twelve (12) months following the Expansion Commencement Date, shall revert to the installment of such Landlord and Tenant Improvementsshall have no further rights with respect thereto.

Appears in 1 contract

Samples: Lease (BioAtla, Inc.)

Tenant Improvement Allowance. Tenant 5.1. During the fifteen (15) month period commencing on the date this Agreement shall be entitled to a one-time tenant improvement allowance executed and delivered by the parties and expiring on the date (the "Tenant Improvement Allowance"“Alterations Outside Completion Date”) in which shall be the amount set forth in Section 12 last day of the Summary for the costs relating such fifteen (15) month period, subject to the initial design and construction extension by reason of Tenant's improvements, which are permanently affixed to the Premises Force Majeure (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that such term is defined below), Tenant shall perform and complete extensive alterations and improvements constituting Tenant’s Work in Section 3.1and to (i) the Premises and (ii) the Broadway side lobby and passenger elevator cabs in the Building which may include (and which are contemplated to include) new wall finishes, belownew lobby attendant reception desk, new interior lighting, new stainless steel stair doors, new paint finishes, new security system, new flooring and new digital tenant directory in the lobby, and no portion new paneling, new flooring and new lighting in the elevator cabs (all of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, alterations and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, improvements in and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and the Broadway side lobby and passenger elevator cabs in the Building caused by such removal are hereinafter collectively referred to as “Tenant’s Alterations”, and return the affected portion of the Premises to their condition existing prior Tenant’s Alterations consisting of such alterations and improvements to the installment Broadway side lobby and passenger elevator cabs in the Building which are expressly specified and set forth above are hereinafter collectively referred to as the “Lobby and Elevator Alterations”) costing not less than a minimum of $2,000,000.00 for all of Tenant’s Alterations. Such minimum required cost of Tenant’s Alterations in the amount of $2,000,000.00 shall be inclusive of (a) reasonable costs incurred by Tenant (limited for purposes of meeting such required minimum cost to the sum of $135,000.00) to perform the Lobby and Elevator Alterations and (b) so-called “soft costs” such as costs for architectural fees and engineering fees (limited for purposes of meeting such required minimum cost to the sum of $200,000.00). The reasonable cost of the Lobby and Elevator Alterations, limited to the sum of $135,000.00, together with soft costs not exceeding the lesser of (i) ten (10%) percent of the total cost of Tenant’s Alterations or (ii) $255,017.50, are hereinafter collectively referred to as the “Included Costs”. In accordance with the applicable provisions of the Lease, Tenant Improvementsshall submit to Owner, for Owner’s review and approval, proposed complete and detailed architectural, mechanical and engineering plans and specifications in respect of Tenant’s Alterations. Tenant shall not commence Tenant’s Alterations unless and until Tenant shall have received Owner’s final written approval of Tenant’s plans and specifications in respect thereof in accordance with the applicable provisions of the Lease. Tenant’s contractors for the performance of Tenant’s Alterations shall be reputable, licensed, third party contractors reasonably satisfactory to Owner.

Appears in 1 contract

Samples: Sixth Lease Modification Agreement (Take Two Interactive Software Inc)

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Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary up to, but not exceeding, Nine Hundred Eighty-Nine Thousand Eight Hundred Thirty Dollars ($989,830.00) to help Tenant pay for the costs relating to of the initial design design, permitting and construction of Tenant's improvements, initial improvements which are permanently affixed to the Existing Premises and the Expansion Space (collectively, the "Tenant Improvements"); provided, however, that Landlord shall have no obligation to disburse all or any portion of the Tenant Improvement Allowance (nor the Additional Allowance, if applicable) to Tenant unless Tenant makes a request for disbursement pursuant to the terms and conditions of Section 2.2 below prior to that date which is one hundred eighty (180) days after the Suite 500 Expansion Commencement Date. Notwithstanding anything in this Tenant Work Letter to the contrary, an amount not to exceed Two Hundred Fifty-Nine Thousand Three Hundred Thirty Dollars ($259,330.00) of any unused amount of the Tenant Improvement Allowance shall be made available to Tenant to help Tenant pay for the actual and documented costs incurred by Tenant for the purchase of and installation of furniture, fixtures and equipment for the Expansion Space (the "FF&E Costs"). Landlord shall disburse from the Tenant Improvement Allowance the available portion thereof to help Tenant pay for the FF&E Costs actually incurred by Tenant within thirty (30) days after Landlord has received Tenant's written request for disbursement together with copies of paid invoices from third parties evidencing the amount of such FF&E Costs to be paid by Landlord; such disbursement request shall be delivered (if at all) no later than sixty (60) days after the Suite 500 Expansion Commencement Date. 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 AllowanceAllowance (nor the Additional Allowance ./ -/// -1- (if applicable)). In additionthe event that there exists an "Over-Allowance Amount" under Section 4.3.1 of Tenant Work Letter of the Original Lease after application of the Tenant Improvement Allowance and Additional Allowance elected by Tenant to be applied for improvements under the Original Lease, then Tenant shall have the right to have Landlord apply the Tenant Improvement Allowance and Additional Allowance hereunder for any such Over-Allowance Amount under the Original Lease; provided, however, that Tenant shall contribute not have the right to apply the Tenant Improvement Allowance nor the Additional Allowance described herein for costs which the Additional Allowance described in the Original Lease is to be used (i.e., the Tenant Improvement Allowance and Additional Allowance under this Tenant Work Letter may only be applied to cover costs (i.e., the Over-Allowance Amount) under the Original Lease existing after application of the allowances under the Original Lease and may not be applied against the allowances under the Original Lease). Tenant shall not be entitled to receive any cash payment or credit against Rent or otherwise for any unused portion of the Tenant Improvement Allowance (nor the Additional Allowance, if applicable) which is not used to pay for the Tenant Improvement Allowance Items (as defined below). Notwithstanding anything above to the contrary, in the event there exists an Over-Allowance Amount (as defined in Section 4.2.1 below), Tenant shall have the option, exercisable upon written notice to Landlord, to require Landlord to provide a one-time additional improvement allowance (the "Additional Allowance") in the amount not to exceed One Million Four Hundred Eighty-Four Thousand Seven Hundred Forty-Five Dollars ($0.15 1,484,745.00). In the event Tenant exercises such option and as consideration for Landlord providing such Additional Allowance to Tenant, the Base Rent payable by Tenant throughout the entire Term of Tenant's lease of the Suite 500 Expansion Space ("Amortization Period") shall be increased by an amount sufficient to fully amortize such Additional Allowance throughout said period based upon equal monthly payments of principal and interest, with interest imputed on the outstanding principal balance at the rate of nine percent (9%) per annum (the "Amortization Rent"), subject to the following provisions regarding Tenant's right to pay off the Additional Allowance early. By way of illustration, if Tenant utilizes the entire Additional Allowance and if the Suite 500 Expansion Commencement Date occurs on January 1, 2018 (for a one hundred twenty-one (121) month term) then the initial Base Rent payable by Tenant for the Suite 500 Expansion Space under this Second Amendment shall be increased by $0.57 per rentable square feet (with an initial start rate of $5.37 per rentable square foot and the Base Rent schedule set forth in Section 4.2 of this Second Amendment shall be revised to reflect such increased Base Rent for all time periods under this Lease. Such revised Base Rent schedule shall be memorialized in an amendment to this Lease to be executed by Landlord and Tenant. The Tenant Improvement Allowance and the Additional Allowance may collectively be referred to herein as the "Allowances". Notwithstanding anything above to the contrary, Tenant shall have the right, to be exercised by written notice to Landlord at any time prior to March 31, 2020, to pay to Landlord the entirety of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use Additional Allowance utilized by Tenant. In the event that Tenant makes such election, then Landlord shall provide Tenant with a calculation of the Additional Allowance amount that is owed (less any reduction of the same based on the Amortization Rent component of Base Rent previously paid by Tenant Improvement Allowance or (if any) ("Landlord's Drawing Contribution Cost Calculation"). Tenant shall pay the amount set forth in Landlord's Cost Calculation (provided it is not fully utilized by Tenant on or before the first in error) within ten (1st10) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, days after Tenant's receipt thereof and Landlord and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require promptly execute an amendment which will reflect such payment of the use of Building risers, raceways, shafts and/or conduitsAdditional Allowance, shall be subject include a revised Base Rent schedule to Landlord's reasonable rules, regulationsreflect that Tenant is no longer obligated to pay Amortization Rent, and restrictions, including shall confirm that no interest shall accrue on the requirement that any cabling vendor must be selected from a list provided by Landlord, and that Additional Allowance after the amount and location date of any such cabling must be approved by Landlordpayment. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements../ -/// -2-

Appears in 1 contract

Samples: Lease (Achaogen Inc)

Tenant Improvement Allowance. Landlord agrees to provide Tenant shall be entitled to a one-time tenant improvement an allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 461,188.00 which amount represents $28.00 per rentable Rentable Square Foot less the square foot footage attributable to (i) the restrooms; (ii) janitor's closet; (iii) telephone and electric rooms; and (iv) Tenant's share of the Premises ("Landlord's Drawing Contribution") ground floor lobby. Landlord also agrees to provide Tenant with an additional allowance toward the cost of one the Tenant Improvements of up to $8.00 per Rentable Square Foot of space in the Premises, at Tenant's option (1"Additional Tenant Improvement Allowance"), provided that (a) preliminary Tenant gives Landlord written notice of its intention to exercise its option to utilize the Additional Tenant Improvement Allowance within thirty (30) days after the execution of this Lease, and (b) such Additional Tenant Improvement Allowance shall be amortized over the Lease Term and shall result in an increase of Monthly Base Rent of $.02 per Rentable Square Foot of space plan in the Premises for each $l.00 per Rentable Square Feet of Additional Tenant Improvement Allowance for which Tenant exercises its option. The Tenant Improvement Allowance and Additional Tenant Improvement Allowance shall be applied towards, without limitation, any and all costs of construction, city permits, space planning, working drawings, engineering and the cost of Landlord's overhead. Landlord agrees that the Contractor shall not be entitled to general conditions as part of the costs to construct the Tenant Improvements, as the Contractor is already on the Project site performing construction. Landlord shall submit to Tenant, prior to commencement to construction of the Tenant Improvements, a detailed written estimate of the total cost to construct the Tenant Improvements in accordance with the Plans and Specifications ("Work Cost Estimate"). Tenant shall approve or disapprove of the Work Cost Estimate within five (5) business days after receipt thereof from Landlord. The failure of Tenant to timely deliver notice of disapproval shall be deemed to be prepared Tenant's approval of the Work Cost Estimate. If Tenant timely reasonably disapproves the Work Cost Estimate, Tenant shall immediately notify Landlord of such disapproval and the specific bases for such disapproval within such five (5) business day period and the parties shall immediately meet in order to revise the Plans and Specifications so that the Work Cost Estimate can he adjusted to an amount which is acceptable to Tenant. The amount by which the costs to construct the Tenant Improvements exceed the Tenant Improvement Allowance, or Tenant Improvement Allowance plus Additional Tenant Improvement Allowance, if Tenant exercises its option for same, shall be defined as the "Architect/Space Planner,Tenant Extra Cost" as that term is defined in Section 3.1and shall be the sole responsibility of Tenant. Tenant shall pay to Landlord, belowwithin five (5) business days of Landlord's written request therefor, the total amount payable by Tenant for the Tenant Extra Cost. Any savings achieved during the construction of the Tenant Improvements shall be applied first to reduce the Tenant Extra Cost, and no portion of the Landlord's Drawing Contribution, if any, remaining after the any excess Tenant Extra Cost held by Landlord at completion of the Tenant Improvements shall be available for use by refunded to Tenant. In the event that Neither the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before nor the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Additional Tenant Improvement Allowance has been made available shall will be deemed Landlordapplied to Tenant's property furniture, trade fixtures, and personal property, moving costs, or Tenant's obligations under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Tenant Improvement Agreement (Collateral Therapeutics Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary [*****] for the costs relating to the initial design design, permitting and construction of Tenant's improvementsthe Initial Improvements in accordance with the Approved Construction Plans (as defined below) and all Legal Requirements, which are permanently affixed including, without limitation, the American with Disabilities Act pertaining to the Premises Initial Improvements (but not to the "Tenant Improvements"specific use or occupancy of Tenant). In The parties acknowledge that the Initial Improvements in the entire Premises shall be constructed at the same time pursuant to the terms of this Addendum and that no event portion of the Tenant Improvement Allowance shall be available for use by Tenant following the completion of the Initial Improvements in the entire Premises. Under no circumstances shall Landlord be obligated to make disbursements for the Initial Improvements (pursuant to this Tenant Work Letter Addendum or otherwise) in a total amount which exceeds the Tenant Improvement Allowance, and Tenant shall be obligated to pay the entire cost of the design, permitting, construction and other costs of the Initial Improvements to the extent the same exceeds the Tenant Improvement Allowance (the “Excess Costs”). In additionExcept as otherwise set forth in this Addendum, the Tenant Improvement Allowance shall be disbursed by Landlord for costs related to the construction of the Initial Improvements and for the design, permitting, construction and construction fees for the Initial Improvements (collectively, the “Tenant Improvement Allowance Items”). Landlord shall contribute an amount not disburse the Tenant Improvement Allowance, and Tenant shall pay the Excess Cost for the Tenant Improvement Allowance Items, in proportion to exceed $0.15 per rentable square foot the ratio that their respective contribution bears to the total cost of the Premises ("Landlord's Drawing Contribution") toward Tenant Improvement Allowance Items, in each case as and when due to the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, Engineers and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by TenantContractor. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use at least ten (10) days to make a payment of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property Excess Costs due under the terms of the Leasethis Section 2.1; provided, however, Landlord may, by written notice that Tenant may instead elect to Tenant modify the scope of the Initial Improvements to minimize or eliminate any Excess Costs prior to commencement of construction. Based on the end Preliminary Construction Proposal, the total cost for construction of the Lease TermInitial Improvements is estimated to be [*****], or given following any earlier termination of this Leasewhich means that Excess Costs payable by Tenant would equal [*****]. Notwithstanding the foregoing, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to if the Premises and Building caused by such removal and return the affected portion final construction costs of the Premises Initial Improvements are less than [*****], Landlord and Tenant agree that Tenant Improvement Allowance shall be reduced by [*****]. For illustration purposes of how this reduction in the Tenant Improvement Allowance occurs at different total costs of construction, please see the chart attached to their condition existing prior to this Lease as Exhibit G (the installment of such “Landlord-Tenant ImprovementsContribution Analysis”).

Appears in 1 contract

Samples: Lease Agreement (Atlas Crest Investment Corp.)

Tenant Improvement Allowance. Landlord agrees to provide to Tenant shall be entitled an allowance with respect to a one-time tenant improvement allowance the Phase I Premises equal to $45.00 per square foot of net rentable area based on the number of square feet in the Phase I Premises (the "“Phase I Tenant Improvement Allowance"”). The Phase I Tenant Improvement Allowance may be applied by Tenant to the cost of (a) (i) all space planning, (ii) Phase I Tenant Construction Documents (as defined in Exhibit D), (iii) contractor costs, (iv) construction management fees for Tenant’s selected construction manager, and (v) Tenant Work (collectively, the amount set forth in Section 12 “Phase I Construction Costs”), (b) telecommunications/data costs, (c) furniture expenses and (d) relocation and moving expenses ((b), (c) and (d) being known as the “Phase I Soft Costs”). Any unused portion of the Summary for Phase I Tenant Improvement Allowance up to $15.00 per square foot of net rentable area of the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Phase I Premises (the "“Phase I Soft Costs Improvement Cap”) may be (i) applied as a credit to the first installment(s) of Base Rental coming due for the Phase I Premises under this lease or (ii) at Tenant’s sole discretion, for any purposes related to Tenant’s occupancy of the Premises. If Tenant Improvements"). In no event has not fully utilized the Phase I Tenant Improvement Allowance as set forth herein within twelve (12) months after the Phase I Rent Commencement Date, any remaining balance of the Phase I Tenant Improvement Allowance (up to the Phase I Soft Costs Improvement Cap and after deducting any portion of the Phase I Tenant Improvement Allowance utilized for the Phase I Soft Costs) will be credited to the next Base Rental due hereunder, and any additional amounts not otherwise applied as hereinabove described shall Landlord be obligated added to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Phase II Tenant Improvement Allowance. In additionTenant shall manage the construction of the Premises and there shall be no construction management fee paid to Landlord. Prior to commencement of construction of Tenant’s improvements to the Phase I Premises, Tenant shall furnish Landlord with an estimate of Tenant’s total Phase I Construction Costs. Landlord shall pay Tenant the Phase I Tenant Improvement Allowance based on submission of an invoice by Tenant to Landlord no later than the 15th day of each month. Each invoice shall list Phase I Construction Costs which Tenant has previously paid along with copies of each paid invoice, copies of each check given in payment of such invoices, and lien waivers from each entity (interim lien waivers are permitted for interim draws and final lien waivers are required for final draw) and Landlord shall pay ninety percent (90%) of each invoice. Landlord will pay Tenant ninety percent (90%) of each received invoice by the 20th day of the following month for each Tenant invoice submitted until Landlord shall have paid to Tenant ninety percent (90%) of the full amount of the Phase I Tenant Improvement Allowance. The final ten percent (10%) of the Phase I Tenant Improvement Allowance shall be paid upon the last to occur of the following: (a) substantial completion of the improvements to the Phase I Premises as contemplated by the Phase I Construction Documents and issuance of a temporary or permanent Certificate of Occupancy with respect thereto, or (b) submission of paid invoices and final lien waivers evidencing payment in full by Tenant of all Phase I Construction Costs. Tenant shall be responsible for payment of all Phase I Construction Costs exceeding the Phase I Tenant Improvement Allowance. Alternatively to payment of the Phase I Tenant Improvement Allowance to Tenant as aforesaid, upon Tenant’s written request and express direction, Landlord shall contribute an amount pay such invoiced amounts directly to the appropriate vendors (up to but not to exceed $0.15 in excess of five (5) such vendors per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenantmonth). In the event that Landlord shall fail to remit to Tenant (or Tenant’s vendors, as directed by Tenant pursuant to the terms of this Exhibit C-1) the Phase I Tenant Improvement Allowance as hereinabove described, and in the further event that such failure shall continue for fifteen (15) days following Tenant’s delivery of written notice to Landlord (in addition to Tenant’s delivery of invoices and other documentation as required above), then, in addition to, and without limitation of, any other rights and remedies that Tenant may have under this lease, Tenant shall have the right to offset the cost of any Phase I Construction Costs and other permissible expenses incurred by Tenant pursuant to the terms of this Exhibit C-1 against its next due installments of Base Rental for the Phase I Premises until Tenant shall have been fully reimbursed therefor. XXXXXXX X-0 XXXXX XX TENANT IMPROVEMENT ALLOWANCE Landlord agrees to provide to Tenant an allowance with respect to the Phase II Premises equal to $45.00 per square foot of net rentable area based on the number of square feet in the Phase II Premises (the “Phase II Tenant Improvement Allowance”). The Phase II Tenant Improvement Allowance may be applied by Tenant to the cost of (a) (i) all space planning, (ii) Phase II Tenant Construction Documents (as defined in Exhibit D-l), (iii) contractor costs, (iv) construction management fees for Tenant’s selected construction manager, (v) Tenant Work, and (vi) Phase I Construction Costs (collectively, the “Phase II Construction Costs”), (b) telecommunications/data costs, (c) furniture expenses and (d) relocation and moving expenses ((b), (c) and (d) being known as the “Phase II Soft Costs”). Any unused portion of the Phase II Tenant Improvement Allowance up to $15.00 per square foot of net rentable area of the Phase II Premises (the “Phase II Soft Costs Improvement Cap”) may be (i) applied as a credit to the first installment(s) of Base Rental coming due for the Phase II Premises under this lease or Landlord's Drawing Contribution is (ii) at Tenant’s sole discretion, for any purposes related to Tenant’s occupancy of the Premises. If Tenant has not fully utilized by the Phase II Tenant on or before Improvement Allowance as set forth herein within twelve (12) months after the first (1st) anniversary of the Lease Phase II Rent Commencement Date, then such unused any remaining balance of the Phase II Tenant Improvement Allowance (up to the Phase II Soft Costs Improvement Cap and after deducting any portion of the Phase II Tenant Improvement Allowance utilized for the Phase II Soft Costs) will be credited to the next Base Rental due hereunder, and any additional amounts not otherwise applied as hereinabove described shall revert be added to the Phase III Tenant Improvement Allowance. Tenant shall manage the construction of the Premises and there shall be no construction management fee paid to Landlord. Prior to commencement of construction of Tenant’s improvements to the Phase II Premises, Tenant shall furnish Landlord with an estimate of Tenant’s total Phase II Construction Costs. Landlord shall pay Tenant the Phase II Tenant Improvement Allowance based on submission of an invoice by Tenant to Landlord no later than the 15th day of each month. Each invoice shall list Phase II Construction Costs which Tenant has previously paid along with copies of each paid invoice, copies of each check given in payment of such invoices, and lien waivers from each entity (interim lien waivers are permitted for interim draws and final lien waivers are required for final draw) and Landlord shall pay ninety percent (90%) of each such invoice. Landlord will pay Tenant ninety percent (90%) of each received invoice by the 20th day of the following month for each Tenant invoice submitted until Landlord shall have paid to Tenant ninety percent (90%) of the full amount of the Phase II Tenant Improvement Allowance. The final ten percent (10%) of the Phase II Tenant Improvement Allowance shall be paid upon the last to occur of the following: (a) substantial completion of the improvements to the Phase II Premises as contemplated by the Phase II Construction Documents and issuance of a temporary or permanent Certificate of Occupancy with respect thereto, or (b) submission of paid invoices and final lien waivers evidencing payment in full by Tenant of all Phase II Construction Costs. Tenant shall be responsible for payment of all Phase II Construction Costs exceeding the Phase II Tenant Improvement Allowance. Alternatively to payment of the Phase II Tenant Improvement Allowance to Tenant as aforesaid, upon Tenant’s written request and express direction, Landlord shall pay such invoiced amounts directly to the appropriate vendors (up to but not in excess of five (5) such vendors per month). In the event that Landlord shall fail to remit to Tenant (or Tenant’s vendors, as directed by Tenant pursuant to the terms of this Exhibit C-2) the Phase II Tenant Improvement Allowance as hereinabove described, and in the further event that such failure shall continue for fifteen (15) days following Tenant’s delivery of written notice to Landlord (in addition to Tenant’s delivery of invoices and other documentation as required above), then, in addition to, and without limitation of, any other rights and remedies that Tenant may have under this lease, Tenant shall have the right to offset the cost of any Phase II Construction Costs and other permissible expenses incurred by Tenant pursuant to the terms of this Exhibit C-2 against its next due installments of Base Rental for the Phase II Premises until Tenant shall have been fully reimbursed therefor. XXXXXXX X-0 XXXXX XXX TENANT IMPROVEMENT ALLOWANCE Landlord agrees to provide to Tenant an allowance with respect to the Phase III Premises (the “Phase III Tenant Improvement Allowance”) equal to the sum of the following: $45.00 per square foot of net rentable area based on the number of square feet in the Phase III Premises times a fraction, the numerator of which is the number of full calendar months remaining in the Term after the Phase III Commencement Date and the denominator of which is 180 (the “Phase III Proration”). The Phase III Tenant Improvement Allowance may be applied by Tenant to the cost of (a) (i) all space planning, (ii) Phase III Tenant Construction Documents (as defined in Exhibit D-2), (iii) contractor costs, (iv) construction management fees for Tenant’s selected construction manager, (v) Tenant Work, (vi) Phase I Construction Costs, and (vii) Phase II Construction Costs (collectively, the “Phase III Construction Costs”), (b) telecommunications/ data costs, (c) furniture expenses and (d) relocation and moving expenses ((b), (c) and (d) being known as the “Phase III Soft Costs”). Any unused portion of the Phase III Tenant Improvement Allowance up to $15.00 per square foot of net rentable area of the Phase III Premises (the “Phase III Soft Costs Improvement Cap”) may be (i) applied as a credit to the first installment(s) of Base Rental coming due for the Phase III Premises under this lease or (ii) at Tenant’s sole discretion, for any purposes related to Tenant’s occupancy of the Premises. If Tenant has not fully utilized the Phase III Tenant Improvement Allowance as set forth herein within twelve (12) months after the Phase III Rent Commencement Date, any remaining balance of the Phase III Tenant Improvement Allowance (up to the Phase III Soft Costs Improvement Cap and after deducting any portion of the Phase III Tenant Improvement Allowance utilized for the Phase III Soft Costs) will be credited to the next Base Rental due hereunder. Tenant shall manage the construction of the Premises and there shall be no further rights construction management fee paid to Landlord. Prior to commencement of construction of Tenant’s improvements to the Phase III Premises, Tenant shall furnish Landlord with an estimate of Tenant’s total Phase III Construction Costs. Landlord shall pay Tenant the Phase III Tenant Improvement Allowance based on submission of an invoice by Tenant to Landlord no later than the 15th day of each month. Each invoice shall list Phase III Construction Costs which Tenant has previously paid along with copies of each paid invoice, copies of each check given in payment of such invoices, and lien waivers from each entity (interim lien waivers are permitted for interim draws and final lien waivers are required for final draw) and Landlord shall pay ninety percent (90%) of each such invoice. Landlord will pay Tenant ninety percent (90%) of each received invoice by the 20th day of the following month for each Tenant invoice submitted until Landlord shall have paid to Tenant ninety percent (90%) of the full amount of the Phase II Tenant Improvement Allowance. The final ten percent (10%) of the Phase III Tenant Improvement Allowance shall be paid upon the last to occur of the following: (a) substantial completion of the improvements to the Phase III Premises as contemplated by the Phase III Construction Documents and issuance of a temporary or permanent Certificate of Occupancy with respect thereto, or (b) submission of paid invoices and final lien waivers evidencing payment in full by Tenant of all Phase III Construction Costs. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject responsible for payment of all Phase III Construction Costs exceeding the Phase III Tenant Improvement Allowance. Alternatively to Landlord's reasonable rules, regulations, and restrictions, including payment of the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Phase III Tenant Improvement Allowance has been made available to Tenant as aforesaid, upon Tenant’s written request and express direction, Landlord shall be deemed Landlord's property under pay such invoiced amounts directly to the appropriate vendors (up to but not in excess of five (5) such vendors per month). In the event that Landlord shall fail to remit to Tenant (or Tenant’s vendors, as directed by Tenant pursuant to the terms of this Exhibit C-3) the Lease; providedPhase III Tenant Improvement Allowance as hereinabove described, however, Landlord may, by and in the further event that such failure shall continue for fifteen (15) days following Tenant’s delivery of written notice to Landlord (in addition to Tenant’s delivery of invoices and other documentation as required above), then, in addition to, and without limitation of, any other rights and remedies that Tenant prior may have under this lease, Tenant shall have the right to offset the cost of any Phase III Construction Costs and other permissible expenses incurred by Tenant pursuant to the end of the Lease Term, or given following any earlier termination terms of this Lease, require Tenant, at Tenant's expense, to remove any Exhibit C-3 against its next due installments of Base Rental for the Phase III Premises until Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.shall have been fully reimbursed therefor. XXXXXXX X

Appears in 1 contract

Samples: Lease Agreement (AutoTrader Group, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled Landlord agrees to a oneprovide an allowance ---------------------------- of up to Two Million Three Hundred Twenty-time tenant improvement allowance five Thousand Seven Hundred Sixty-five Dollars ($2,325,765.00) (the "Tenant Improvement Allowance") to assist Tenant in the amount set forth in Section 12 build-out of the Summary tenant improvements for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). The Tenant Improvement Allowance is calculated by multiplying the agreed floor area of the Premises, in usable square feet (71,562) by $32.50. The Tenant Improvement Allowance may be adjusted based on the actual floor area of the Premises. In no event shall Landlord addition to its use toward the hard costs of constructing the Tenant Improvements, the Tenant Improvement Allowance may be obligated to make disbursements pursuant to this used for space planning and design, the cost of building permits, Washington State Sales Tax, cabling and wiring for the Premises and exterior building signage. Tenant Work Letter expressly assumes responsibility for the cost and payment of any portion of the Tenant Improvements that are in a total amount which exceeds excess of the Tenant Improvement Allowance. In additionTenant may, by written notice delivered to Landlord shall contribute no later than September 1, 2000, elect to amortize the cost of Tenant Improvements that are in excess of the Tenant Improvement Allowance, up to an amount not to exceed additional $0.15 12.50 per rentable usable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion agreed floor area of the Landlord's Drawing ContributionPremises, if any, remaining after the completion on a straight-line basis over a term of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant eight (8) years and based on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject an interest rate equal to Landlord's reasonable rules, regulations, and restrictions, including permanent loan rate on the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the LeaseBuilding plus one percent (1%); provided, however, Landlord maythat until such time as Landlord's permanent loan on the Building is in place, by written notice such amortization shall be based on the Bank of America prime rate plus one percent (1%). If Tenant elects to have any portion of cost of Tenant prior to the end Improvements that are in excess of the Tenant Improvement Allowance amortized, as provided by the terms of the preceding sentence, then Tenant shall execute a promissory note in the form of Exhibit L --------- attached to this Lease Term(the "TI Note"), or given following any earlier termination of evidencing a loan payable to Landlord for such amount. The monthly payments due under the TI Note shall be additional rent due under this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage shall be added to the Premises and Building caused by such removal and return monthly base rent due from Tenant to Landlord under the affected portion terms of the Premises to their condition existing prior to the installment of such Tenant ImprovementsSection 1(f) above.

Appears in 1 contract

Samples: Lease Agreement (Stamps Com Inc)

Tenant Improvement Allowance. After the mutual execution and delivery of this First Amendment by the parties, Landlord shall make available to Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating up to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 6.00 per rentable square foot of the Premises, or $263,550 in the aggregate (the “TI Allowance”) for the design, construction and/or installation of non-structural improvements to the Premises desired by and performed by Tenant and which improvements shall be of a fixed and permanent nature ("Landlord's Drawing Contribution") toward the cost and Landlord and Tenant acknowledge and agree that paint and carpet shall constitute improvements of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, belowa fixed and permanent nature), and no portion shall be constructed pursuant to space plans mutually approved by Landlord and Tenant (the “Tenant Improvements”). The TI Allowance shall be available only for the design, construction and/or installation of the Landlord's Drawing ContributionTenant Improvements. Tenant acknowledges that upon the expiration of the Term of the Lease, the Tenant Improvements shall become the property of Landlord and may not at any time be removed by Tenant. The TI Allowance shall not be used to purchase any furniture, personal property or other non-Building system materials or equipment. Except for the TI Allowance, Tenant shall be solely responsible for all of the costs of the Tenant Improvements. Tenant shall obtain all required permits or other governmental approvals, if any, remaining prior to commencing the Tenant Improvements and deliver a copy of the same to Landlord. Tenant shall cause the Tenant Improvements to be completed promptly and in a good and workmanlike manner and in accordance with applicable laws, subject to delays resulting from events not within Tenant’s reasonable control. The contractor(s) for the Tenant Improvements shall be shall be selected by Tenant, subject to Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Prior to the commencement of construction of the Tenant Improvements, Tenant shall deliver to Landlord a copy of its contract(s) with Tenant’s contractor(s), and certificates of insurance from any contractor(s) performing any part of the Tenant Improvements evidencing industry standard commercial general liability, automotive liability, workers’ compensation insurance, and, if generally required by institutional landlords of similar properties in the Sunnyvale area in connection with the type of Tenant Improvements being performed by Tenant pursuant to this Section 3, “builder’s risk” insurance. Tenant shall cause its contractor(s) to provide a certificate of insurance naming Landlord and Landlord’s lender (if any) as additional insureds for the contractor(s)’ liability coverages required above. During the course of design and construction of the Tenant Improvements, Landlord shall pay Tenant (or, upon Tenant’s written request, pay Tenant contractor(s) for the Tenant Improvements directly) for the cost of the Tenant Improvements once a month against a draw request in the form of an application for payment substantially in the form of AIA G-702 (or its equivalent) covering all work for which disbursement is to be made to a date specified therein, along with invoice(s) for the applicable costs or evidence of payment of the applicable costs and a conditional lien release for each progress payment and an unconditional lien release for the prior month’s progress payment, no later than 30 days following receipt of such draw request. Tenant shall use reasonable effort to deliver to Landlord, within 60 days after the completion of the Tenant Improvements (but in any event prior to any final disbursement of the TI Allowance), the following items: (i) a statement from Tenant setting forth the names of all contractors and subcontractors engaged by Tenant that performed work on the Tenant Improvements and final lien waivers from all such contractors and subcontractors; and (ii) “as built” plans for the Tenant Improvements (to the extent “as built” plans were prepared in connection with the Tenant Improvements). Within 30 days after Landlord’s receipt of the items listed in the immediately preceding sentence, Landlord shall pay Tenant (or, upon Tenant’s written request, pay Tenant’s contractor’s directly) the final disbursement of the TI Allowance. Notwithstanding the foregoing, if at any time and from time-to-time, the remaining cost of Tenant Improvements exceeds the amount of the TI Allowance, Landlord shall disburse the remaining TI Allowance on a pro rata basis based on the percentage that the TI Allowance bears to the total cost of the Tenant Improvements and Tenant shall pay the balance. The TI Allowance shall only be available for use by Tenant for the design, construction and/or installation of the Tenant Improvements until April 30, 2016, and any portion of the TI Allowance which has not been requested for disbursement by Tenant in accordance with the terms of this paragraph on or before April 30, 2016, shall be forfeited and shall not be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Lease Agreement (Meru Networks Inc)

Tenant Improvement Allowance. Tenant Provided that Subtenant is not in default of this Sublease or the Work Letter (following the expiration of all applicable cure periods without cure) Sublandlord shall be entitled provide Subtenant with the sum equal to a oneThirty-time tenant improvement allowance Seven and 50/00 Dollars ($37.50) per RSF of the Sublease Premises plus an additional One Hundred Thousand Dollars ($100,000) for work on the ground floor lobby of Building D (the "Lobby Allowance") (collectively, the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial Subtenant's design and construction of TenantSubtenant's improvements, which are permanently affixed to initial tenant improvements within the Sublease Premises (collectively, the "Tenant Improvements"). In no event The Tenant Improvement Allowance shall first be used to pay for the cost of Subtenant's space plan, construction drawings and working drawings, architectural, engineering and design fees and costs, permit and approval fees and costs, actual contractor costs and charges for materials and labor, contractor's profit, overhead and general conditions costs and other customary and reasonable hard and soft costs of designing, installing and constructing the Tenant Improvements (collectively, the "Tenant Improvement Costs"). Master Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds TI Allowance and Lobby Allowance. Subtenant acknowledges that Thirty Dollars ($30.00) per RSF of the Tenant Improvement Allowance. In addition, Allowance plus the $100,000 Lobby Allowance is being funded by Master Landlord shall contribute an amount not to exceed $0.15 per rentable square foot Sublandlord pursuant to the terms and provisions of the Premises Master Lease (the "Landlord's Drawing ContributionMaster Landlord TI Allowance") toward ), that use of the cost Master Landlord TI Allowance is expressly limited to reimbursement of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as actual Tenant Improvement Costs and that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing ContributionMaster Landlord TI Allowance can be used for furniture and furniture reconfiguration, furnishings, equipment, cabling, wiring, moving expenses, existing lease cancellation costs, construction manager fees, project manager fees, and relocation consultant costs, and other similar costs and expenses (collectively, "Non TI-Costs"). Subtenant acknowledges and agrees that if anythe actual Tenant Improvement Costs are less than Thirty Dollars ($30.00) per RSF for the Subleased Premises, remaining after then Sublandlord shall only be obligated to disburse the completion Master Landlord TI Allowance in an amount up to the actual Tenant Improvement Costs and no more. Anything contained in this Sublease or the Work Letter to the contrary notwithstanding, Subtenant acknowledges and agrees that Sublandlord shall have no obligation to pay all or any portion of the Tenant Improvements shall be available for use by Tenant. In the event that Master Landlord TI Allowance portion of the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary to Subtenant unless and until Sublandlord receives payment of the Master Landlord TI Allowance owing by Master Landlord to Sublandlord under the Master Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsSublease Premises.

Appears in 1 contract

Samples: E Loan Inc

Tenant Improvement Allowance. Tenant shall be is entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary up to Two Hundred Thirty-One Thousand Five Hundred Fifty Dollars ($231,550.00) for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements". The Tenant Improvement Allowance may be used for all actual costs incurred performing the Work, including without limitation architecture, design, engineering, and permitting (collectively, “Soft Costs”). In ; provided, however, that in no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total the amount which exceeds of Soft Costs exceed ten percent (10%) of the Tenant Improvement Allowance. In addition, no event will Landlord shall contribute an amount not to exceed $0.15 per rentable square foot be obligated for any costs in excess of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to Tenant Improvement Allowance. No credit will be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no given for any unused portion of the Landlord's Drawing ContributionTenant Improvement Allowance. Provided that Tenant is not in default hereunder beyond any applicable grace period, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance shall be disbursed to Tenant, or Landlord's Drawing Contribution is not fully utilized as designated by Tenant, to Tenant’s architect and/or General Contractor, on a monthly basis for costs theretofore incurred by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance is applicable within thirty (30) days after Tenant has been made available provided Landlord with a written request for such payment, together with (i) copies of all government approvals theretofore required, (ii) confirmation of the portion of the Work theretofore completed, certified by Tenant’s architect and/or General Contractor, as appropriate, on standard AIA forms and (iii) partial lien waivers (conditioned solely on payment of the payment amount requested) and progress payment affidavits from General Contractor and from all subcontractors. Landlord shall be deemed Landlord's property under permitted to hold a retainage equal to the terms greater of 10% of any payment or the retainage amount specified in the contract with General Contractor. Landlord shall not be required to make final payment of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end Allowance until thirty (30) days after Xxxxxx has taken occupancy of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior Landlord has received, in addition to the installment of such Tenant Improvementsitems required under clauses (i) and (ii) above, final lien waivers and affidavits from General Contractor and all subcontractors.

Appears in 1 contract

Samples: Lease (Metagenomi Technologies, LLC)

Tenant Improvement Allowance. Tenant Lessee shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary Two Hundred Thirty-Four Thousand Six Hundred and 00/100 Dollars ($234,600.00) for the costs relating related to the initial design and construction of Tenant's improvements, which are permanently affixed to tenant improvements in the Premises (the "Tenant Improvements"). In no event Improvement Allowance”) and Lessee shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds specify the building address associated with use of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot The Tenant Improvement Allowance must be disbursed in accordance with the terms of this Section 11 no later than the last day of the Premises eighteenth ("Landlord's Drawing Contribution"18th) toward month following the cost Extended Term Commencement Date. The construction of one (1) preliminary space plan to be prepared all tenant improvements desired by "Architect/Space Planner," as that term is defined in Section 3.1, below, Lessee and no portion constructed with the use of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by (“New Tenant on or before Improvements”) shall be performed in accordance with the first terms of this Section 11. Lessor shall work with Lessor’s architect and Lessee to develop plans and specifications (1st“Preliminary Plans”) anniversary for the New Tenant Improvements. Within ten (10) days of Lessee’s receipt of the Lease Commencement DatePreliminary Plans for any New Tenant Improvements, then Lessee shall provide Lessor with either its consent to the same or reasonably detailed objections thereto. If Lessee provides such unused amounts objections, Lessor shall revert revise and re-submit the Preliminary Plans for the New Tenant Improvements and thereafter Lessee shall have five (5) days to Landlordconsent or provide reasonably detailed objections to the same, and Tenant the process shall have no further rights with respect thereto. Any repeat until Lessee has consented to the Preliminary Plans for the New Tenant Improvements that require (“Final Plans”). If Lessee shall fail to respond within such five (5) day period, Lessor may send a second written request for approval. Lessee’s failure to respond within five (5) days of such second written request shall be deemed its approval of such Preliminary Plans. Lessor, at Lessee’s sole expense (subject to the use of Building risers, raceways, shafts and/or conduitsTenant Improvement Allowance), shall cause to be subject to Landlord's reasonable rules, regulations, constructed New Tenant Improvements in accordance with the Final Plans. Lessee shall be liable for all fees and restrictions, including costs of the requirement that any cabling vendor must be selected from a list provided by Landlord, design and that the amount and location construction of any such cabling must be approved by Landlord. All Tenant Improvements for which tenant improvements in excess of the Tenant Improvement Allowance has been made available (such difference referred to herein as the “Tenant Improvement Shortfall”). Notwithstanding the foregoing, the parties agree that Lessor’s disbursements of the Tenant Improvement Allowance shall be deemed Landlord's property under made pari passu with Lessee’s contribution of its own funds towards the terms costs of constructing the Lease; providedtenant improvements as such costs become due (i.e. in proportion of Tenant Improvement Shortfall payable by Lessee to the Tenant Improvement Allowance). Lessor shall disburse the Tenant Improvement Allowance directly to the applicable design professional, howevercontractor, Landlord maymaterialman or other laborer (“Contractor”) in connection with the construction of such tenant improvements upon receipt of paid invoices for work completed, conditional/unconditional lien releases, and other documentation reasonably required by written notice Lessor. For the avoidance of doubt, Lessee may submit to Lessor reimbursement requests from the Tenant Improvement Allowance for work completed prior to the end of the Lease Term, or given following any earlier termination date of this LeaseAmendment, require Tenantprovided that (i) such work was completed by a Contractor approved by Lessor, at Tenant's expenseand (ii) Lessee delivers to Lessor receipt of paid invoices for work completed, conditional/unconditional lien releases, and other documentation reasonably required by Lessor. Lessee shall not be entitled to remove receive any Tenant Improvements and to repair cash payment or credit against Rent or otherwise for any damage to the Premises and Building caused by such removal and return the affected portion of the Premises Tenant Improvement Allowance which is not used to their condition existing prior to pay for the installment construction of such Tenant Improvementsthe tenant improvements contemplated hereunder.

Appears in 1 contract

Samples: Lease (Personalis, Inc.)

Tenant Improvement Allowance. Tenant shall Pursuant to Paragraph 4 to the Agreement to Extend Lease, Prime Lessor agreed to provide Sublessor with an allowance of up to $200,375.00 toward improvements to be entitled made to a one-the Premises at any time tenant improvement allowance during the period from November 1, 1997 through April 30, 2001 (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant ImprovementsTENANT IMPROVEMENT ALLOWANCE"). In Sublessor represents and warrants that it has (a) not used or expended any of the Tenant Improvement Allowance as of the date hereof and (b) no event shall Landlord be obligated reason to make disbursements pursuant believe that Prime Lessor will not provide the Tenant Improvement Allowance for the "tenant improvements" as defined in the Agreement to this Tenant Work Letter in a total amount which exceeds Extend Lease. Sublessor covenants that it will cooperate with Sublessee at Sublessee's sole cost and expense to ensure Prime Lessor's prompt release of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements Sublessee shall be available for use by Tenant. In the event that entitled to the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before to the first (1st) anniversary of same extent as Sublessor under the Prime Lease Commencement Date, then such unused amounts shall revert to Landlordand in the manner set forth in the Prime Lease, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject Sublessor agrees to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which pay the Tenant Improvement Allowance has been made available to Sublessee in the amount and in the manner set forth in the Agreement to Extend Lease within five (5) business days of Sublessor's receipt of such funds from the Prime Lessor. Notwithstanding the foregoing, Sublessee agrees and acknowledges that Sublessor shall be deemed Landlord's property under permitted throughout the terms Sublease Term to use all or any part of the Tenant Improvement Allowance in the amount and in the manner set forth in the Agreement to Extend Lease; provided, however, Landlord may, by written notice . If Sublessee during the Sublease Term desires to Tenant prior make tenant improvements to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Sublet Premises and Building caused by the cost of such removal and return improvements exceeds the affected remaining unused portion of the Premises Tenant Improvement Allowance, Sublessor will pay to their condition existing prior Sublessee an amount equal to the installment portion of the Tenant Improvement Allowance used by Sublessor upon the receipt of invoices for the tenant improvements, provided such Tenant Improvements.tenant improvements constitute "tenant improvements" as defined in the Agreement to Extend Lease, Sublessee has furnished to Sublessor the same documents that are required under the Prime Lease in connection with any tenant improvements, and has obtained any and all necessary permits and/or approvals required under the Prime Lease. It is anticipated that Sublessee shall install or cause the following improvements to be made to the Sublet Premises: (a) recarpet the Sublet Premises, (b) repaint interior walls, (c) remove any interior non-

Appears in 1 contract

Samples: Sublease Agreement (Costar Group Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement AllowanceTENANT IMPROVEMENT ALLOWANCE") in the amount set forth in Section 12 of $35.00 per usable square foot of the Summary Premises for the costs relating to the initial design and construction of Tenant's improvements, including the Landlord Work, which are permanently affixed to the Premises (the "Tenant ImprovementsTENANT IMPROVEMENTS"). 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. In additionthe event the cost of the Tenant Improvement Allowance Items is less than the total Tenant Improvement Allowance, Landlord Tenant shall contribute an amount not be entitled to exceed use up to One Dollar ($0.15 1.00) per rentable usable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no such unused portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized to reimburse Tenant for costs incurred by Tenant on or before in connection with moving its personal property to the first Premises and fifty percent (1st50%) anniversary of any remaining unused portion of the Lease Commencement DateTenant Improvement Allowance shall be applied as a credit against Tenant's first obligations to pay Base Rent for the Premises under the Lease, then up to a maximum such credit of One Dollar ($1.00) per usable square foot of the Premises. Tenant shall not be entitled to any credit for any unused portion of the Tenant Improvement Allowance to the extent such unused amounts shall revert to Landlord, portion exceeds the One Dollar ($1.00) per usable square foot of the Premises for moving costs and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use One Dollar ($1.00) per usable square foot of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from Premises for a list Base Rent credit as provided by Landlord, and that the amount and location of any such cabling must be approved by Landlordabove. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of Section 8.5 of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Office Lease (First Consulting Group Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of $100 per RSF of the Summary Premises (i.e., $15,931,000.00 for the 159,310 RSF of the Premises) for the costs relating to the initial design and construction of Tenant's the improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). In addition, Landlord will provide a one-time allowance (the "Base Building Allowance") in the amount of $10 per RSF of the Premises (i.e., $1,593,100 for the 159,310 RSF of the Premises) to be used for modifications and upgrades to the Base Building systems and equipment serving the Building and Premises (the "Base Building Upgrades"). 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 and Base Building Allowance. In addition, Tenant and Landlord shall contribute an amount not to exceed $0.15 per rentable square foot mutually agree on the scope of the Premises ("Landlord's Drawing Contribution") toward Base Building Upgrades, which shall be included in the cost Construction Documents and constructed by Tenant as a part of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no the Tenant Improvement Allowance. If any portion of the LandlordBase Building Allowance remains after Tenant's Drawing Contribution, if any, remaining after the completion construction of the Base Building Upgrades, such remaining portion may be used by Tenant Improvements for other "Tenant Improvement Allowance Items", as defined below. The Base Building Allowance shall be available disbursed for use by TenantBase Building Upgrades in the same manner as the Tenant Improvement Allowance, in accordance with the terms of Section 2.2.1, below. In the event that Landlord shall disburse the Tenant Improvement Allowance and Base Building Allowance (other than the Final Retention) prior to any contribution to the cost of Tenant Improvements or Landlord's Drawing Contribution is not fully utilized Base Building Upgrades by Tenant on (if any is required). Notwithstanding the foregoing or before the first (1st) anniversary any contrary provision of the Lease Commencement Datethis Lease, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any all Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected . Any unused portion of the Premises to their condition existing prior Tenant Improvement Allowance remaining as of the date that is twelve (12) months after the Lease Commencement Date shall remain with Landlord and Tenant shall have no further right thereto. In addition to the installment Tenant Improvement Allowance and Base Building Allowance, Landlord will pay Tenant's "Architect", as defined below, up to $0.15 per RSF of such Tenant Improvementsthe Premises (i.e., up to $23,896.50) for the preparation of a preliminary space plan for the Premises.

Appears in 1 contract

Samples: Office Lease (Kite Pharma, Inc.)

Tenant Improvement Allowance. Landlord agrees to construct tenant improvements in the Premises (Tenant Improvements) for Tenant's exclusive use during the term of the Lease in accordance with the Space Plan and Conceptual Cost Estimate as approved and signed by Tenant either prior to or following the execution of this Lease. Landlord's contribution to such improvements in Building 42 (23,306 sq. ft.) shall be entitled to a one-time tenant improvement allowance $25.00 per square foot or $582,650 and in Building 42A (20,000 sq. ft.) shall be $25.00 per sq. ft. or $500,000 (the "Tenant Improvement Allowance") ). Landlord's contribution for Building 42 shall be provided in the amount Phase I and Phase II build-outs as set forth in Section 12 of 1.11 and Tenant shall have the Summary right to forgo Landlord's contribution for Phase II and receive the stated reduction in Base Rent. Tenant shall be responsible for the costs relating to the initial design and construction cost of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds Improvements exceeding the Tenant Improvement Allowance, which costs shall be initially determined and set forth in the Conceptual Cost Estimate for the corresponding building and paid for by Tenant to Landlord based on the following schedule: o Twenty percent (20%) at the start of construction. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot o Forty percent (40%) within 60 days after the start of construction o Thirty percent (30%) within 90 days after the Premises start of construction. Payment is due in full if construction is completed within 90 days after the start of construction. o Ten percent ("Landlord's Drawing Contribution"10%) toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining within 10 days after the completion of the punch list items. The Tenant Improvements Improvement Allowance shall be available used for use by and include the cost of: design & engineering, plan check and permit fees, special fees (such as sewer fixture fee for Tenant's over-standard requirements), insurance and the tenant improvement construction cost. In Tenant shall be responsible for the event that cost of any Tenant approved change orders or alterations to the Space Plan or Conceptual Cost Estimate. Should Tenant fail to fully utilize the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before Allowance, the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, remainder shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from applied as a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior credit to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsBase Rent.

Appears in 1 contract

Samples: Lease Agreement (Nextel Partners Inc)

Tenant Improvement Allowance. Commencing as of the Lease Commencement Date, Tenant shall be entitled to use a one-time tenant improvement allowance in the aggregate amount of $2,400,000.00 which is comprised of (i) $1,600,000 (the "Tenant “Existing Premises Improvement Allowance") in the amount set forth in Section 12 of the Summary ”), for the costs relating to the initial design and construction of Tenant's ’s improvements, which are permanently affixed to the Existing Premises only (the "“Existing Premises Improvements”) or which are “Tenant Improvement Allowance Items,” as that term is defined in Section 2.2.1, below, and (ii) $800,000.00 (the “Expansion Premises Improvement Allowance”) for the costs relating to the design and construction of Tenant’s improvements which are permanently affixed to the Expansion Premises only (the “Expansion Premises Improvements”) or which are Tenant Improvement Allowance Items. Collectively, the Expansion Premises Improvements and the Existing Premises Improvements are the “Tenant Improvements"” and collectively the Existing Premises Improvement Allowance and the Expansion Premises Improvement Allowance are the “Tenant Improvement Allowance”. Tenant hereby acknowledges and agrees that (A) Tenant shall not be entitled to receive more than $500,000.00 of the Existing Improvement Allowance during the calendar year 2016, and (B) Tenant shall not be entitled to receive any portion of the Expansion Premises Improvement Allowance until the earlier to occur of (a) the date upon which the Expansion Confirmation Notice is delivered to Landlord or (b) September 16, 2017 (assuming the Expansion Termination Notice has not been timely delivered by Tenant, as Tenant shall forfeit any and all rights to the Expansion Premises Improvement Allowance in the event the Expansion Termination Notice is timely delivered to Landlord). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or otherwise in connection with Tenant’s construction of the Tenant Improvements or any Tenant Improvement Allowance Items, as defined below, in a total amount which exceeds the sum of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's ’s property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant given concurrently with Landlord’s approval of the “Final Working Drawings”, as that term is defined in Section 3.3, below, require Tenant, prior to the end of the Lease Term, or given promptly following any earlier termination of this the Lease, require Tenant, at Tenant's ’s expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their a Building standard general office condition; provided, however, that Landlord shall not require Tenant to remove upon termination or expiration of the Lease, or condition existing prior its approval upon Tenant’s agreement to remove upon termination or expiration of the installment Lease, any Tenant Improvements constructed pursuant to this Tenant Work Letter which constitute standard, non-extraordinary improvements for ordinary office use. Any portion of such the Existing Premises Improvement Allowance that is not disbursed or requested for disbursement by the end of the first twelve (12) months following the Expansion Commencement Date (or, in the event that Tenant Improvementstimely exercises the Expansion Termination Notice, by September 15, 2018), shall revert to Landlord and Tenant shall have no further rights with respect thereto, and any portion of the Expansion Premises Improvement Allowance that is not disbursed or allocated for disbursement by the end of the first twelve (12) months following the Expansion Commencement Date, shall revert to Landlord and Tenant shall have no further rights with respect thereto.

Appears in 1 contract

Samples: Animal Care Agreement (Revolution Medicines, Inc.)

Tenant Improvement Allowance. Landlord shall make available to Tenant shall be entitled to a one-time tenant improvement an allowance (the "Tenant Improvement Allowance") in the amount set forth of $100,000.00. The Improvement Allowance shall be used to pay for costs and expenses incurred in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvementsconnection with renovations, which are permanently affixed alterations, additions or improvements to the Premises made by or for Tenant at any time after the date this Agreement has been fully executed but prior to June 30, 2006 (the "Tenant Improvements"collectively, “New Alterations”). In New Alterations shall be subject to the conditions and requirements of the Lease. The architect designing, contractor performing and contract for any New Alterations work shall be subject to Landlord’s and Tenant’s reasonable review and approval. If such New Alterations work is performed by contractors who enter into direct contracts with Tenant, then upon the completion of any New Alterations Tenant shall provide to Landlord a complete package of invoices, contracts, permits, warranties and lien waivers pertaining to the New Alterations work, which shall be subject to Landlord’s reasonable review and approval (which shall not be unreasonably withheld, conditioned or delayed). Upon such approval, Landlord shall provide to Tenant a check for the approved costs and expenses for such New Alterations work, or, at Tenant’s written direction, shall remit payments to the third parties to whom such payments are owed and who have provided (or shall provide) lien waivers for such payments. Whether such New Alterations work is performed by contractors who enter into direct contracts with Landlord or with Tenant, in no event shall Landlord be obligated to make disbursements pursuant remit to this or on behalf of Tenant Work Letter an amount, in the aggregate, in excess of the Improvement Allowance for the New Alterations work. Tenant shall at its sole cost and expense pay for any and all costs and expenses of any such New Alterations work in excess of the Improvement Allowance before or concurrently with Landlord’s payment for same as provided above. Landlord hereby acknowledges that, at Tenant’s election, Tenant may contract for the New Alterations work and manage the New Alterations work, or Tenant may contract for the New Alterations work and, at Tenant’s sole cost and expense, engage a total amount which exceeds third-party construction manager to manage such work, or Tenant may request that Landlord or Landlord’s managing agent contract with the Tenant Improvement Allowancecontractor performing such New Alterations work and/or manage such New Alterations work. In additionAt the time of Landlord’s approval, Landlord shall contribute an amount not also notify Tenant of any improvements contained in the New Alterations which Landlord will require Tenant to exceed $0.15 per rentable square foot remove at the termination of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan Lease. If Landlord fails to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion notify Tenant within 10 business days of the Landlord's Drawing ContributionApproval, if any, remaining after then the completion improvements in the New Alterations shall become the property of the Tenant Improvements Landlord and shall be available for use by Tenant. In surrendered to Landlord upon the event that the Tenant Improvement Allowance expiration or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary earlier termination of the this Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, obligation to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementsthem.

Appears in 1 contract

Samples: Immucor Inc

Tenant Improvement Allowance. In addition to the Space Plan Allowance described in Section 5.5 below, Tenant shall be entitled to receive from Landlord a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the aggregate amount set forth in Section 12 of up to, but not exceeding, Two Million Eight Hundred Twenty-Two Thousand Four Hundred Eighty-Eight Dollars ($2,822,488.00) (i.e., $38.00 per square foot of usable area of the Summary Premises), to help Tenant pay for the costs relating to (collectively, the initial design “Tenant Improvement Costs”) of the design, permitting and construction of Tenant's improvements, ’s initial improvements which are permanently affixed to the Premises (collectively, the "Tenant Improvements"). Notwithstanding the foregoing to the contrary, (a) with respect to each Construction Premises, Tenant may not use, and Landlord shall not be obligated to disburse, a portion of the Tenant Improvement Allowance to help Tenant pay for the Tenant Improvement Costs for such Construction Premises in an amount greater than $38.00 per square foot of usable area of such Construction Premises (each such portion of the Tenant Improvement Allowance referred to herein as the “TI Allowance Portion”), and (b) Landlord shall make each TI Allowance Portion available to help Tenant pay for the Tenant Improvement Costs for the Construction Premises applicable thereto commencing upon the following dates (each, a “TI Portion Availability Date”): (i) with respect to the Initial Premises only, upon the date of execution of this Lease; and (ii) with respect to each Construction Premises which is other than the Initial Premises, upon the date Landlord delivers possession of such Construction Premises to Tenant. In no event shall Landlord be obligated to make disbursements of the Tenant Improvement Allowance (or portions thereof) pursuant to this Tenant Work Letter Letter: (A) in a total amount which exceeds Two Million Eight Hundred Twenty-Two Thousand Four Hundred Eighty-Eight Dollars ($2,822,488.00); and (B) with respect to each Construction Premises, (1) in an amount greater than the TI Allowance Portion applicable thereto, or (2) on a date prior to the TI Portion Availability Date applicable thereto. Except as otherwise provided in Section 2.1.2, below, Tenant shall not be entitled to receive as a cash payment or credit against Rent or otherwise any unused part of the TI Allowance Portion that is applicable to a particular Construction Premises that is not used to pay for the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available Costs for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first Items (1stas defined below) anniversary of the Lease Commencement Date, then applicable and pertaining to such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementsparticular Construction Premises.

Appears in 1 contract

Samples: Lease Agreement (Fusion-Io, Inc.)

Tenant Improvement Allowance. Upon Tenant’s occupying the Premises and first payment of Rent by Tenant shall be entitled to a oneLandlord and upon Tenant providing to Landlord lien releases and lien waivers from all contractors, sub-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed contractors or material men providing work or labor to the Premises (the "Tenant Improvements"). 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. In additionfor any Tenant’s Improvements constructed thereon, Landlord shall contribute pay to Tenant a Tenant Improvement Allowance equal to $3.00 per rentable square foot which equals $10,626.00. The Tenant Improvement Allowance may be used by Tenant for painting, carpeting, installing supplemental HVAC system for the IT room, and if sufficient funds are left over for moving costs into the Premises. Tenant shall have the right to use their own architect for general services for space planning or construction documents. Landlord shall reimburse Tenant for space planning services and construction documents in an amount not to exceed fifteen cents ($0.15 0.15) per rentable square foot foot, which equals Five Hundred Thirty One and 30/100 ($531.30) Dollars. The space planning allowance shall be paid to Tenant upon Tenant’s provision to Landlord of proper invoices from any such space planner or engineer for such space planning services. Tenant has request removal of the Premises eight ("8) foot wall as set forth on Exhibit 1.19 attached hereto and made a part hereof (the “Removed Wall”). Tenant agrees that it shall patch the carpet in such place as the wall has been removed, as well as finish off all adjacent walls and connector walls to that of a smooth, clean, painted finish consistent with the finishes within the Premises. Upon expiration or termination of this Lease Agreement, Landlord may, in Landlord's Drawing Contribution") toward ’s sole discretion require the cost of one (1) preliminary space plan Tenant to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, belowreconstruct the Removed Wall to its condition prior to its removal, and no Tenant shall restore all finishes, carpeting, and all other areas surrounding the Removed Wall to that condition which it existed prior to its removal. Completion of the restoration of the Removed Wall as required herein, if required by Landlord shall be a condition precedent to Tenant’s right to receive any portion of the Landlord's Drawing Contribution, if any, remaining after the completion its Security Deposit herein upon expiration or termination of the Tenant Improvements shall be available for use by Tenant. In Lease, and in the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary cost of restoration of the Lease Commencement DateRemoved Wall is greater than Security Deposit, then such unused amounts shall revert to Landlord, and the Tenant shall have no further rights with respect theretoremain responsible for all costs of same. Any Tenant Improvements that require the use shall provide to Landlord a copy of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements all plans for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms removal of the Lease; provided, however, Landlord mayRemoved Wall and shall have such alterations performed in a good and xxxxxxx like manner, by written notice a licensed general contractor and after obtaining all building permits which may be required by the City of Boca Raton, Florida or Palm Beach County, Florida and providing lien releases for all work and materials required to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by complete such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementsrestoration.

Appears in 1 contract

Samples: Office Lease (Towerstream Corp)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement AllowanceTENANT IMPROVEMENT ALLOWANCE") in the amount set forth in Section 12 of the Summary Four Million Two Hundred Seventy-Eight Thousand Four Hundred Nineteen Dollars ($4,278,419.00) for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises improvements (the "Tenant ImprovementsTENANT IMPROVEMENTS"). Tenant shall have the right to defer the construction of Tenant Improvements for space in the Building which Tenant elects not to initially build-out until no later than three (3) years after the Lease Commencement Date for the applicable Floor Group; however, (i) if Tenant elects to commence construction of Tenant Improvements for any space in the Building, such construction may not thereafter be deferred, and (ii) any such deferral shall be deemed a Tenant Delay so that the Lease Commencement Date shall not be delayed. 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 AllowanceAllowance (except as expressly contemplated by this Tenant Work Letter). In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no Any portion of the Landlord's Drawing Contribution, if any, Tenant Improvement Allowance remaining after the completion construction of the Tenant Improvements shall for each Floor Group may be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized used by Tenant on or for Tenant Improvements for such Floor Group before the first (1st) anniversary of the Lease Commencement DateDate for such Floor Group. Further, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights allocate and use a minimum Tenant Improvement Allowance for "hard costs" (i.e., costs incurred under the general contract with respect thereto. Any Contractor) of Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the in an amount and location of any such cabling must be approved by Landlordnot less than Two Million Seven Hundred Ninety-Five Thousand Five Hundred Fifty-Eight Dollars ($2,795,558.00). All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property except as described under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination Section 8.5 of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Office Lease (Peregrine Systems Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of up to, but not exceeding $5.00 per useable square foot of the Summary 2nd and 3rd Floor Space and $10.00 per useable square foot for the 1st Floor Space ($386,220 in the aggregate for the Premises), for the costs relating to the initial design and construction of Tenant's improvements, ’s improvements which are permanently affixed to the Premises (the "Tenant Improvements"). The Tenant Improvement Allowance may only be utilized by Tenant pursuant to the terms of this Tenant Work Letter for permissible expenditures or rent abatement, if applicable, occurring prior to April 30, 2008. At Tenant’s election, up to fifty percent (50%) of the Tenant Improvement Allowance may be used for Tenant’s costs relating to IT, furniture, telecommunications, and moving costs, and up to fifty percent (50%) may be used as a credit against Tenants obligation to pay Base Rent. Irrespective of Tenant’s use of the Tenant Improvement Allowance, whether used (i) for Tenant Improvements, (ii) up to fifty percent (50%) used for IT, furniture, telecommunications, moving costs, and/or (iii) up to fifty percent (50%) used as a credit against Base Rent, the utilization or application of the Tenant Improvement Allowance must have occurred no later than April 30, 2008. After April 30, 2008, Tenant shall have-no-right in or to the unused portion of 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 AllowanceAllowance or obligated to make disbursements for expenditures which occur after April 30, 2008. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available entitled to a maximum amount of $193,110 credit against its obligation to pay Base Rent or may use up to $193,110 for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized costs incurred by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights in conjunction with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by related to IT, furniture, telecommunications and/or moving costs(“Alternate TI Use Error! Bookmark not defined.”). If Tenant desires to utilize the Alternate TI Use, Tenant shall notify Landlord of Tenant’s election in writing, together with all backup documentation sufficient in Landlord’s reasonable determination, evidencing such removal expenditures, no later than March 1, 2008. For purposes of this Section 2.1, “IT” shall include the hardware, software and return the affected portion infrastructure of the Premises to their condition existing prior to the installment of such Tenant ImprovementsTenant.

Appears in 1 contract

Samples: Office Lease (Active Network Inc)

Tenant Improvement Allowance. Provided that: (i) the Tenant’s Work concerning the Expansion Space is completed in accordance with this Exhibit B on or before December 31, 2004, (ii) on the Commencement Date if there is no Event of Default at that time and (iii) the Lease is in full force and effect, Landlord shall reimburse Tenant shall be entitled for Tenant’s actual construction costs up to a one-time tenant improvement allowance maximum of Two Hundred Ten Thousand Dollars ($210,000.00) (the "“Expansion Space Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/The Expansion Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized shall be paid by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights construct the tenant improvements for the Expansion Space, in accordance with respect thereto. Any Exhibit B to the Lease (Tenant Improvements that require to the use Premises) and Article 6 of Building risers, raceways, shafts and/or conduits, the Lease. The Expansion Space Tenant Improvement Allowance shall be paid directly to Tenant in three (3) equal progress payments equal to 30% of the applicable Expansion Space Tenant Improvement Allowance. The first progress payment shall be paid after it has been mutually agreed that one third of the Tenant’s Work for the Expansion Space has been satisfactorily completed as reasonably determined by the parties; the second progress payment shall be paid after it has been mutually agreed that two thirds of the Tenant’s Work for the expansion space has been satisfactorily completed as reasonably determined by the parties; and the third progress payment shall be paid after it has been mutually agreed that 100% of the Tenant’s Work for the Expansion Space has been satisfactorily completed as reasonably determined by the parties. Landlord shall pay each progress payment within thirty (30) days after receipt from Tenant of a request for payment, together with copies of submitted invoices, certification from Tenant’s architect concerning the appropriate percentage of work completed and all unconditional waiver and release upon progress payment for material and labor from Tenant’s contractor, subcontractors and suppliers, subject to Landlord's ’s reasonable rules, regulations, verification concerning satisfaction of quality and restrictions, including the requirement that any cabling vendor must be selected from a list provided percentage of work completed as reasonably determined by Landlord, and that the amount and location parties. The remaining 10% of any such cabling must be approved by Landlord. All Tenant Improvements for which the Expansion Space Tenant Improvement Allowance has been made available shall be deemed Landlord's property under paid within sixty (60) days following proper recordation of a Notice of Completion for the terms Tenant’s Work relating to such expansion space, upon commencement of Tenant’s business within the expanded Premises, and subject to satisfaction of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.conditions:

Appears in 1 contract

Samples: Natural Alternatives International Inc

Tenant Improvement Allowance. Landlord will commence construction of certain improvements (the "Tenant Improvements") to the Premises, which Tenant Improvements will be completed in accordance with plans and specifications approved by Landlord and Tenant (the "Plans"). The costs of completing the Tenant Improvements will be paid by Landlord, subject to reimbursement from the Tenant Improvement Allowance (as defined below); provided, however, Landlord is not obligated to pay or incur any costs that exceed the Tenant Improvement Allowance. If the costs of completing the Tenant Improvements exceeds the Tenant Improvement Allowance, Tenant shall pay such excess costs to Landlord within fifteen (15) days after receipt of an invoice therefor; provided, however, any such reimbursement by Tenant shall under no circumstances be entitled considered or deemed to be rent of any kind, but rather a onereimbursement of Landlord for such excess costs, and Landlord shall have no right to recover possession of the leased premises for non-time payment of any such amounts. Any work desired by Tenant other than the Tenant Improvements, such as furniture, fixturing, and telecommunications and computer cabling, shall be performed by Tenant, at Tenant's sole expense, using contractors and pursuant to plans approved by Landlord and in accordance with the alterations provisions of the Lease. The Tenant Improvements shall be deemed substantially completed ("Substantial Completion") on the date Landlord substantially completes the Tenant Improvements in accordance with the Plans and obtains a certificate of occupancy for the Tenant Improvements. If Substantial Completion of the Tenant Improvements is delayed due to any act or omission of Tenant or Tenant's representatives (a "Tenant Delay"), Landlord will be deemed to have achieved Substantial Completion of the Tenant Improvements on the date when they would have been ready but for such Tenant Delay. Landlord shall provide to Tenant a tenant improvement allowance in the amount of Three Thousand and No/100ths Dollars (the $3,000.00)(the "Tenant Improvement Allowance") in to be credited against Landlord's costs (including, without limitation, construction management fees not to exceed 5%) of designing, constructing and installing the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises Tenant Improvements (the "Tenant ImprovementsCosts"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Lease (BBJ Environmental Technologies Inc)

Tenant Improvement Allowance. Commencing as of the date upon which Tenant obtains possession of the Expansion Premises (which date may be prior to the Expansion Commencement Date), Tenant shall be entitled to a one-time tenant improvement allowance as follows: (i) for the Expansion Premises in the amount of $2,435,375.00 (i.e., $125.00 per RSF of the Expansion Premises) (the "Expansion Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary ), for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Expansion Premises (the "Expansion Tenant Improvements") or which are "Tenant Improvement Allowance Items," as that term is defined in Section 2.2.1, below, for the Expansion Premises, and (ii) for the Existing Premises in the amount of $838,320.00 (i.e., $20.00 per RSF of the Existing Premises) (the "Existing Tenant Improvement Allowance"), for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Existing Premises (the "Existing Tenant Improvements") or which are Tenant Improvement Allowance Items for the Existing Premises (the Expansion Tenant Improvements and the Existing Tenant Improvements shall collectively be the "Tenant Improvements", and the Expansion Tenant Improvement Allowance and the Existing Tenant Improvement Allowance shall collectively be the "Tenant Improvement Allowance"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter or otherwise in connection with Tenant's construction of the Tenant Improvements or any Tenant Improvement Allowance Items, as defined below, in a total amount which exceeds the sum of the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant given concurrently with Landlord's approval of the "Final Working Drawings", as that term is defined in Section 3.3, below, require Tenant, prior to the end of the Lease Term, or given following any earlier termination of this the Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused ./ -/// -1- [Revolution Medicines, Inc.] by such removal and return the affected portion of the Premises to their the condition existing in existence prior to the installment construction of such the Tenant Improvements, provided that Landlord hereby acknowledges that Landlord shall not require removal of the Tenant Improvements shown on the preliminary space plan attached hereto as Schedule 1 (the "Preliminary Space Plan"), and accordingly, so long as the Final Space Plan, Final Working Drawings and corresponding Tenant Improvements are consistent with and a logical extension of the Preliminary Space Plan, Landlord shall not require Tenant, whether at the end of the Lease Term, or following any earlier termination of the Lease, to pay for or remove any Tenant Improvements set forth on the Final Working Drawings, to repair any damage to the Premises and Building caused by such removal, or to return the affected portion of the Premises to the condition in existence prior to the construction of the Tenant Improvements. Any portion of the Tenant Improvement Allowance that is not disbursed or allocated for disbursement by the date which is eighteen (18) months following the Expansion Possession Date (subject to extension to the extent of delays resulting from events of Force Majeure (as defined in the Lease), provided that Tenant has delivered notice to Landlord identifying such Force Majeure event), shall revert to Landlord and Tenant shall have no further rights with respect thereto.

Appears in 1 contract

Samples: Lease (Revolution Medicines, Inc.)

Tenant Improvement Allowance. Landlord shall make available to Tenant shall be entitled to a one-time tenant improvement allowance Tenant Improvement Allowance in the amount of Two Million Dollars ($2,000,000) (the "Tenant Improvement Allowance") as provided for in the amount set forth in Section 12 Paragraph 1.V. of the Summary Lease which shall be held in an Escrow Account (over which Landlord shall exercise disbursement authority) and disbursed in accordance with this Section 2 to be utilized to pay for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed Work (as defined hereafter). "Tenant's Work" shall mean and include all work and improvements to the Premises in accordance with the Approved Tenant's Work Plans (as defined below) including telecommunications and data equipment, to the "Tenant Improvements")extent same are included in the Approved Tenant's Work Plans. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the The Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not Allowance may be utilized to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward pay the cost of one (1) preliminary space plan planning, development of any and all construction-related plans, specifications and drawings, physical improvements to be prepared by "Architect/Space Planner," as that term is defined the Premises, signage, telecommunication and data expenses, information service expenses, interior decorating fees and furniture for the Premises and to pay for any other costs included in Section 3.1completing Tenant's Work. Any work or items not specified in this Subsection 2.1, below, and no portion or in excess of the Approved Tenant's Work Plans, shall be performed by Tenant at its sole cost and expense, but shall still require Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenantprior written consent. In the event that Tenant requires Landlord to perform any of Tenant's Work, whether utilizing the Tenant Improvement Allowance or LandlordTenant's Drawing Contribution is not fully utilized own funds, Landlord shall be entitled to be paid a construction management fee equal to 5.9% of all costs of construction (hard and soft) of that portion of the Tenant's Work which Landlord performs, payable to Landlord pursuant to construction draws submitted in a manner similar to the draw requests required by Tenant on or before the first (1st) anniversary for disbursal of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the its Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Leaseas provided herein; provided, however, Landlord may, by written notice shall receive a 3% construction management fee for any change orders which are a part of the Tenant's Work which Landlord actually performs. The Tenant Improvement Allowance shall be disbursed to Tenant prior on a monthly basis upon written request by Tenant on AIA Form G-702 (or such other form as Landlord and Tenant may mutually agree to use) accompanied by invoices, partial lien waivers and Tenant's contractor's or architect's certification that the work for which the draw is requested is Substantially Complete (as such term is defined below), and such other back-up documentation as Landlord may reasonably request (provided that Tenant's draw request which is submitted for the last draw on Tenant's Improvement Allowance shall be accompanied by final lien waivers); provided, however, to the end of extent Landlord performs the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expenseWork, to remove any Tenant Improvements Landlord shall be responsible for obtaining the accompanying documents and to repair any damage to the Premises and Building caused information required by such removal and return the affected portion this sentence as a part of the Premises to their condition existing prior to the installment of such Tenant Improvementsits construction management duties.

Appears in 1 contract

Samples: Lease Agreement (NTS Realty Holdings Lp)

Tenant Improvement Allowance. Landlord shall provide Tenant shall be entitled with a basic allowance for construction of Tenant’s Improvements Work and to a one-time tenant improvement allowance offset such other Tenant Improvement Costs as Tenant may incur in connection with this Lease in an amount determined by multiplying the sum of Thirty Five Dollars ($35.00) times the "number of square feet of Usable Area in the Premises as determined in accordance with Section 1.05 (“Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this All Tenant Work Letter Improvement Costs in a total amount which exceeds excess of the Tenant Improvement AllowanceAllowance (collectively, the “Tenant’s Improvement Contribution”) shall be paid by Tenant. In addition, Landlord shall contribute acknowledges receipt of an amount not initial contribution to exceed Tenant Improvement Contribution of Two Hundred Forty-three Thousand Three Hundred Thirteen Dollars ($0.15 per rentable square foot 243,313). An additional contribution to Tenant’s Improvement Contribution in excess of the Premises Tenant Improvement Allowance and the initial contribution to the Tenant Improvement Contribution shall be paid by Tenant to Landlord fifteen ("Landlord's Drawing Contribution"15) toward the cost of one days after Tenant shall have approved a Cost Estimate (1) preliminary space plan to be prepared by "Architect/Space Planner," as that each term is defined in Section 3.1, below, the Work Letter) and no portion Landlord and Tenant have thereafter agreed on an estimate of Tenant Improvement Costs. Any additional contributions to Tenant’s Improvement Contribution to be paid by Tenant hereunder shall be paid by Tenant to Landlord thirty (30) days after Tenant shall have approved a Revised Cost Estimate (as such term is defined in the Landlord's Drawing ContributionWork Letter), if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenantsame is required. In the event that the actual Tenant Improvement Costs are less than the sum of the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Dateand Tenant’s Improvement Contribution, then Landlord shall pay to Tenant within ten (10) days after such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that determination the amount and location by which the sum of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under and Tenant’s Improvement Contribution exceeded the terms of the Leaseactual Tenant Improvement Costs; providedprovided , however, in no event shall the Landlord maybe required to pay an amount greater than the amount of Tenant’s Improvement Contribution. The Tenant Improvement Allowance and Tenant’s Improvement Contribution are herein collectively referred to as the “Tenant Improvement Fund”. In no event, by written notice to however, shall amounts paid for Tenant’s moving costs from the Tenant prior to Improvement Fund exceed Two Dollars ($2.00) per square foot of Usable Area in the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsPremises.

Appears in 1 contract

Samples: Office Lease (Jni Corp)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of up to, but not exceeding Forty-Eight Dollars ($48.50) per rentable square foot of the Summary Premises (i.e., up to Three Million Five Hundred Thirty-seven Thousand Two Hundred Fifty and 50/100ths Dollars ($3,537,250.50), based on 72,933 rentable square feet in the Premises), for the costs relating to the initial design and construction of Tenant's improvements, ’s improvements which are permanently affixed to the Premises (the "Tenant Improvements")”) over and above the items included in the Base, Shell, and Core. Tenant shall not be responsible for nor shall Tenant fund any construction to the Base, Shell, and Core and to any of the structural components of the Building. 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. In addition, Landlord Tenant shall contribute an amount not be entitled to exceed $0.15 per rentable square foot receive any cash payment or credit against Rent or otherwise for any portion of the Premises Tenant Improvement Allowance which is not used to pay for the Tenant Improvement Allowance Items ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that such term is defined in Section 3.1below); provided, belowhowever, and no portion of the Landlord's Drawing Contribution, if any, remaining after upon the completion of the Tenant Improvements, and provided that Tenant completed the Tenant Improvements shall be available for use in a manner substantially consistent with the Final Space Plans, as amended from time to time by mutual consent of Landlord and Tenant. In , to the event extent that any portion of the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Dateunused, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the right, exercisable by written notice to Landlord (the “Unused Allowance Exercise Notice”), to elect to use such unused amount of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property (the “Unused Allowance Amount”), if any, to receive a credit against consecutive future installments of Base Rent next coming due under the terms Lease immediately following the Abatement Period, and for no other purpose. Notwithstanding anything in this Section 2.1 to the contrary, in no event shall the aggregate of any Base Rent credit received by Tenant exceed the amount of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsUnused Allowance Amount.

Appears in 1 contract

Samples: Lease Agreement (Zendesk, Inc.)

Tenant Improvement Allowance. Landlord shall reimburse Tenant shall be entitled up to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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, provided that Landlord may withhold the amount of $10,000.00 to ensure completion of filling the existing pit on the Premises. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) Tenant’s preliminary architectural/construction/space plan to be documents, prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available or contracted for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized directly by Tenant on or before (the first (1st) anniversary of the Lease Commencement Date“Space Plan Documents”), then such unused amounts shall revert have been provided to Landlord, and Tenant has obtained cost estimates to construct Tenant’s Work pursuant to the Space Plan Documents (the “Estimated Construction Costs”). Within fifteen (15) days after the Date of Lease, Tenant shall submit to Landlord two (2) copies of the complete plans and specifications (the “Tenant’s Plans”) for the work outlined in the Space Plan Documents. Tenant’s Plans shall include the Landlord’s Work and any additional work to be completed by Tenant (the “Tenant’s Work”). Within five (5) days after Landlord’s receipt of Tenant’s Plans, Landlord shall notify Tenant of any failures of the Tenant’s Plans to meet with Landlord’s approval. Tenant shall, within five (5) days after receipt of any such notice, cause the Tenant’s Plans to be revised to the extent necessary to obtain Landlord’s approval and to be resubmitted for Landlord’s approval. Both Landlord and Tenant acknowledge and agree that revisions to Tenant’s Plans must be reasonable in the context of meeting the needs of Tenant’s operations in the Premises. When Landlord has approved the original or revised Tenant’s Plans, Landlord shall initial and return one (1) set of approved Tenant’s Plans (the “Approved Plans”) to Tenant within two (2) days of such approval. Tenant shall not commence Tenant’s Work until Landlord has approved Tenant’s Plans, which approval shall not be unreasonably withheld. If the Estimated Construction Costs are greater than the Tenant Improvement Allowance, Tenant shall be responsible for such excess amount, or at its option, Tenant may reduce the scope of the Space Plan Documents to reduce the Estimated Construction Costs. Any additional improvement work required by Tenant, or change orders that increase the cost of Landlord’s Work or the Estimated Construction Costs, or actual and direct costs of build out of Tenant’s Plans, in excess of the Tenant Improvement Allowance, shall be the sole financial responsibility of the Tenant (“Tenant’s Cost of Construction”). In consideration of the $50,000.00 for the Tenant Improvement Allowance, in addition to the other work contemplated, Tenant shall be responsible, but shall have no further rights with respect thereto. Any Tenant Improvements that require liability, for permanently filling and closing the use of Building risers, raceways, shafts and/or conduits, shall be area known as the pit; subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementsindemnification provisions in Section 17 below.

Appears in 1 contract

Samples: Magnetek, Inc.

Tenant Improvement Allowance. Landlord shall provide Tenant with the Allowance specified on the Reference Page in accordance with the provisions of Exhibit “B”. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary he responsible for the costs relating to the initial design and construction extent that the cost of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this such Tenant Work Letter in a total amount which exceeds shall exceed the Tenant Improvement Allowance. In additionAny amount of Tenant Improvement Allowance not spent on the Tenant Work shall be made available to Tenant for architectural design services, Landlord shall contribute an amount engineering costs, moving costs, telephone and computer equipment costs, and if not to exceed $0.15 per rentable square foot used for any of the Premises ("Landlord's Drawing Contribution") toward foregoing shall be provided to Tenant in the form of rent abatement. If the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements Work shall be available for use by Tenant. In the event that exceed the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Allowance, Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior Landlord within ten (10) days of the Rent Commencement Date, elect to add such additional costs (up to but not exceeding the sum of $2,625,000; the total of such additional costs added to the end Annual Rent is hereinafter called “Additional Costs”) to the Annual Rent due during the initial Term of the Lease Termby adjusting the Annual Rent, or given following any earlier termination and the Annual Rent shall immediately be adjusted by adding an amount to the Annual Rent for each such lease year equal to the cost of this Leaseamortizing the Additional Costs over such initial Term with imputed interest at the rate of 9.75% per year. For example, require if the Additional Costs are $1 million, Monthly Rent during the initial Term shall he increased by $12,607.46. Landlord’s obligation to fund the Allowance shall be secured by the Guaranty (the “Guaranty”) in the form of Exhibit “H” from Lone Star Opportunity Fund. Tenant agrees that, if in Tenant’s reasonable determination, at Tenant's expenseLandlord has provided Tenant with another mechanism to adequately secure Landlord’s obligation to fund the Allowance, Tenant shall, to remove any Tenant Improvements and to repair any damage to such extent, release or reduce the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsGuaranty.

Appears in 1 contract

Samples: Lease (Dunkin' Brands Group, Inc.)

Tenant Improvement Allowance. Tenant (a) Lessor shall be entitled to provide Lessee with a one-time tenant improvement allowance of Two Hundred Seventy-two Thousand One Hundred Sixty Dollars ($272,160.00) ($9.00 per rentable square foot) for the Building #16 Premises (the "“Building #16 Tenant Improvement Allowance"”), and Three Hundred Seventy-eight Thousand Seven Hundred Twenty Dollars ($378,720.00) in the amount set forth in Section 12 of the Summary ($12.00 per rentable square foot) for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Building #13 Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the “Building #13 Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not ”) to exceed $0.15 per rentable square foot defray a portion of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) the tenant improvements to the Building #16 Premises and the Building #13 Premises, respectively. The foregoing Building #16 Tenant Improvement Allowance shall be in addition to any Tenant Improvement Allowance provided in the Building #16 Lease. Lessor shall provide a reasonable number of space planning sessions with DES Architects and Engineers, at Lessor’s expense, for the preparation of preliminary plans for the modification of the Building #16 Premises and the preparation of a preliminary space plan for the Building #13 Premises. Lessor and Lessee shall jointly determine whether the architect who prepared the space plans for the Building #16 Premises currently occupied by Lessee was satisfactory, or whether to retain Xxxxx Xxxxxxxxxx of DES Architects and Engineers to perform the space planning and to prepare the construction documents for the tenant improvements to the Building #16 Premises and the Building #13 Premises. Upon approval by Lessor and Lessee of a space plan for the modification of the Building #16 Premises and the tenant improvements to the Building #13 Premises, Lessor and Lessee shall jointly designate the general contractor or general contractors to price the project from a list of general contractors approved by Lessor. After the Building #16 Tenant Improvement Allowance and the Building #13 Tenant Improvement Allowance have been exhausted, the balance of the cost of all tenant improvement work performed in the Building #16 Premises or the Building #13 Premises shall be prepared paid by "Architect/Space Planner," as that term Lessee; provided, however if the total cost of the tenant improvement work in the Building #16 Premises and the Building #13 Premises is defined in Section 3.1less than the total tenant improvement allowance, below, and no the remaining portion of the Landlord's Drawing Contributiontenant improvement allowance may be used by Lessee in performing future alterations to the Building #16 Premises and/or the Building #13 Premises, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, compliance by Lessee with the requirements of Paragraphs 15(d) and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements15(e).

Appears in 1 contract

Samples: Lease (Pacific Biosciences of California Inc)

Tenant Improvement Allowance. Tenant shall be entitled acknowledges that except as otherwise described herein, the Premises are leased to a oneTenant for the First Renewal Term in its “as-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 is” condition as of the Summary for the costs relating date of this Amendment and that Landlord is not obligated to make any improvements to the initial design and construction Premises. At anytime during the period of January 1, 2015 – December 31, 2016, Tenant's improvements, which are permanently affixed at Tenant’s request, shall have the right to make such improvements to the Premises (the "as are approved by Landlord, such approval not to be unreasonably withheld, conditioned or delayed. Landlord hereby grants Tenant Improvements"). 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. In addition, Landlord shall contribute an amount allowance not to exceed One Million Five Hundred Thirty Thousand Seventy Five and 00/100 Dollars ($0.15 per rentable square foot 1,530,075.00) (the “Allowance”) towards the costs of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenantsuch improvements. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, Such improvements shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location provisions of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms Section 10 of the Lease; provided. Tenant shall be responsible for preparing all construction documents (“Tenant’s Construction Documents”), howeversubject to Landlord’s prior consent, which consent shall not be unreasonably withheld, conditioned or delayed. Tenant shall submit to Landlord completed construction documents for Landlord’s review and approval. Within ten (10) business days following Landlord’s receipt of the Tenant Construction Documents, Landlord mayshall review, by and in Landlord’s reasonable discretion, either approve the same or notify Tenant of Landlord’s objections thereto and, if applicable, Landlord’s proposed modifications. If Landlord has any objections to the Tenant Construction Documents, Landlord shall identify such objections in a written notice to Tenant. Within five (5) business days of receiving Landlord’s objections, Tenant shall address the objections and deliver revised Tenant Construction Documents to Landlord for approval in the same manner. The Tenant Construction Documents shall conform to all Legal Requirements applicable to the Tenant Work, and to Landlord’s rules and regulations concerning Building safety, fire and protection of persons from injury. Notwithstanding the foregoing, Landlord’s approval of the Tenant Construction Documents shall not constitute a representation or warranty by Landlord that the Tenant Construction Documents are in compliance with building codes or other applicable laws. Tenant’s improvements shall be referred to as the “Tenant’s Work.” Tenant shall apply for and obtain all required permits and deliver copies thereof to Landlord prior to commencing Tenant’s Work. In such event, Landlord shall disburse the end of Allowance in accordance with the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.provisions:

Appears in 1 contract

Samples: Agreement of Lease (Osiris Therapeutics, Inc.)

Tenant Improvement Allowance. Subject to the terms of this Exhibit B, Tenant shall be entitled to an allowance in the amount of Two Million Six Hundred Forty-One Thousand Six Hundred and No/100 Dollars ($2,641,600.00) (i.e., $25.00 per rentable square foot of the Premises) (the "Base Allowance") for the costs relating to the Improvement Allowance Items. Notwithstanding the terms and conditions set forth in this Exhibit B, Tenant shall be entitled, pursuant to a written notice (the "Additional Allowance Notice") delivered to Landlord, to a one-time tenant improvement allowance increase (the "Additional Allowance") in the Base Allowance in an amount not to exceed $1,056,640.00 (i.e., $10.00 per rentable square foot of the Premises), for the costs relating to the Improvement Allowance Items. The Base Allowance together with the Additional Allowance shall sometimes be collectively referred to herein as the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that Tenant exercises its right to use all or any portion of the Additional Allowance, then such portion of the Additional Allowance shall be repaid by Tenant to Landlord by increasing Tenant's monthly Base Rent hereunder by the amount required to fully amortize such portion of the Additional Allowance over the initial Term, in sixty-two (62) equal monthly installments, commencing upon the Commencement Date and continuing on the first day of each calendar month thereafter through the Expiration Date (the "Allowance Rent"). Such amortization shall be calculated together with interest at the rate of seven percent (7%) per annum. In the event Tenant elects to utilize all or any portion of the Additional Allowance, then (i) the parties shall promptly execute an amendment (the "Amendment") to the Lease setting forth the monthly Base Rent as increased by the Allowance Rent, and (ii) Tenant shall pay to Landlord, concurrently with Xxxxxx's execution and delivery of the Amendment to Landlord, an amount equal to the first installment of the Allowance Rent payment. Notwithstanding anything contained herein to the contrary, the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Dateshall only be available for disbursement until March 31, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements2021.

Appears in 1 contract

Samples: Lease (Gigamon Inc.)

Tenant Improvement Allowance. The Tenant Improvement Allowance shall be entitled to a one-time tenant improvement allowance (the "maximum contribution by Landlord for the Tenant Improvement Allowance") in Costs, and the amount set forth in Section 12 disbursement of the Summary for the costs relating Tenant Improvement Allowance is subject to the initial design terms contained hereinbelow. Except for payment of the CM Fee, Landlord will make payments to Tenant from the Tenant Improvement Allowance to reimburse Tenant for Tenant Improvement Costs paid or incurred by Tenant. Payment of the CM Fee shall be the first payment from the Tenant Improvement Allowance and construction shall be made by means of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds deduction or credit against the Tenant Improvement Allowance. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot All other payments of the Premises Tenant Improvement Allowance shall be by progress payments not more frequently than once per month and only after satisfaction of the following conditions precedent: ("a) receipt by Landlord of conditional mechanics' lien releases for the work completed and to be paid by said progress payment, conditioned only on the payment of the sums set forth in the mechanics' lien release, executed by the Contractor and all subcontractors, labor suppliers and materialmen; (b) receipt by Landlord of unconditional mechanics' lien releases from the Contractor and all subcontractors, labor suppliers and materialmen for all work other than that being paid by the current progress payment previously completed by the Contractor, subcontractors, labor suppliers and materialmen and for which Tenant has received funds from the Tenant Improvement Allowance to pay for such work; (c) receipt by Landlord of any and all documentation reasonably required by Landlord detailing the work that has been completed and the materials and supplies used as of the date of Tenant's request for the progress payment, including, without limitation, invoices, bills, or statements for the work completed and the materials and supplies used; and (d) completion by Landlord or Landlord's Drawing Contribution") toward the cost agents of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion any inspections of the work completed and materials and supplies used as deemed reasonably necessary by Landlord. Except for the CM Fee payment (credit), Tenant Improvement Allowance progress payments shall be paid to Tenant within fourteen (14) days from the satisfaction of the conditions set forth in the immediately preceding sentence. The preceding notwithstanding, all Tenant Improvement Costs paid or incurred by Tenant prior to Landlord's Drawing Contribution, if any, remaining after approval of the completion Construction Documents in connection with the design and planning of the Tenant Improvements by Architect shall be available for use by Tenantpaid from the Tenant Improvement Allowance, without any retention, within fourteen (14) days following Landlord's receipt of invoices, bills or statements from Architect evidencing such costs. In Notwithstanding the event that foregoing to the contrary, Landlord shall be entitled to withhold and retain five percent (5%) of the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under progress payment until the terms lien-free expiration of the Lease; provided, however, Landlord may, time for filing of any mechanics' liens claimed or which might be filed on account of any work ordered by written notice to Tenant prior to or the end Contractor or any subcontractor in connection with the construction and installation of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Lease Agreement (Jabil Circuit Inc)

Tenant Improvement Allowance. Landlord shall provide Tenant a tenant improvement allowance, to construct Tenant finish and improvements in the space leased by the Tenant (including the GoEngineer Space), in an amount up to Two Hundred Fifty Thousand Dollars ($250,000.00). The Tenant shall be entitled to a one-time the entire $250,0000.00 improvement allowance whether or not the Landlord is able to deliver the GoEngineer Space to the Tenant. The tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary shall be allowed for the any costs relating related to the initial design Tenant’s occupancy including space planning, voice and construction of Tenant's data cabling, furniture, tenant improvements, which are permanently affixed or rent credits. The tenant improvement allowance shall be paid by the Landlord to the Premises Tenant within forty-five (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds 45) days of receipt from the Tenant Improvement Allowanceof invoices and documentary evidence, reasonably acceptable to the Landlord, supporting the expenditures, or upon the date that Tenant notifies the Landlord that it will apply the improvement allowance as a rent credit, and provided Tenant has delivered to the Landlord invoices and documentary evidence reasonably acceptable to the Landlord supporting the expenditures. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan Any amounts to be prepared paid to the Tenant for a tenant improvement allowance shall be for expenditures incurred by "Architect/Space Planner," as that term is defined in Section 3.1, belowthe Tenant not more than nine (9) months prior to the effective date of this Third Amendment, and no portion of the Landlord's Drawing Contribution, if any, remaining not more than six (6) months after the completion of Landlord delivers the Tenant Improvements shall be available for use by GoEngineer Space to the Tenant. In the event that If Tenant elects to apply some or all of the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by as a rent, common area maintenance, insurance and property tax credit, Tenant shall so inform the Landlord in writing, on or before the first expiration of forty-five (1st45) anniversary days from the effective date of this Third Amendment, that Tenant has elected to take the Lease Commencement Daterent, then such unused amounts shall revert to Landlordcommon area maintenance, insurance and property tax credit in lieu of paying rent, common area maintenance, insurance and property taxes in the amount of that credit. Notwithstanding the foregoing, Tenant, in its sole discretion, may apply the $250,000 improvement allowance towards both the reimbursement of its tenant improvement costs, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building riserstowards Tenant’s rent, racewayscommon area maintenance, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, insurance and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvementstax credits.

Appears in 1 contract

Samples: Lease (Myogen Inc)

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the total amount set forth in Section 12 of up to, but not exceeding $31.25 per rentable square foot of the Summary Premises (including the Initial Premises and any Must-Take Space added to the Premises during the initial ten (10) years of the Term), for the costs relating to the initial design and construction of Tenant's improvements, improvements which are permanently affixed to the Premises (the "Tenant Improvements"); provided, however, that Landlord shall have no obligation to disburse all or any portion of the Tenant Improvement Allowance to Tenant unless Tenant makes a request for disbursement pursuant to the terms and conditions of Section 2.2 below prior to that date which is twelve (12) months after the applicable Commencement Date for the applicable portion of the Premises (as applicable with respect to each portion of the Premises, the "Outside Allowance Date"); the Outside Allowance Date shall be delayed, on a day for day basis, for each day that the design or construction of the Tenant Improvements within such portion of the Premises is delayed due to Force Majeure Events or Landlord Delay. 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. In addition, Landlord Tenant shall contribute an amount not be entitled to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no receive any cash payment or credit against Rent or otherwise for any unused portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution which is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert used to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements pay for which the Tenant Improvement Allowance has been made available Items (as such term is defined below). In no event shall the Tenant Improvement Allowance be deemed Landlord's property under the terms used for purposes of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to constructing improvements in the Premises and Building caused by such removal and return for purposes of offering space for sublease or for the affected portion benefit of the Premises to their condition existing prior to the installment of such Tenant Improvementsa subtenant.

Appears in 1 contract

Samples: Lease Agreement (Penumbra Inc)

Tenant Improvement Allowance. Subject to any restrictions, conditions or limitations expressly set forth in this Tenant Work Letter or in the Lease or as otherwise expressly provided by mutual written agreement of Landlord and Tenant, the cost of construction of the Tenant Improvements shall be entitled paid or reimbursed by Landlord up to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") in the amount set forth in Section 12 5 of the Summary (the “Tenant Improvement Allowance”), which amount is being made available by Landlord to be applied towards the Cost of Improvements for the costs relating to the initial design and construction of Tenant's improvementsthe Tenant Improvements in the Premises. Tenant shall be responsible, which are permanently affixed to at its sole cost and expense, for payment of the Premises (entire Cost of Improvements of the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter Improvements in a total amount which exceeds excess of the Tenant Improvement Allowance. In addition, Landlord including (but not limited to) any costs or cost increases incurred as a result of delays (unless caused by Landlord), governmental requirements or unanticipated conditions (unless caused by Landlord), and for payment of any and all costs and expenses relating to any alterations, additions, improvements, furniture, furnishings, equipment, fixtures and personal property items which are not eligible for application of Tenant Improvement Allowance funds under the restrictions expressly set forth below in this paragraph, but Tenant shall contribute an amount not be entitled to exceed $0.15 per rentable square foot of use or apply the Premises ("Landlord's Drawing Contribution") entire Tenant Improvement Allowance toward the cost Cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion Improvements of the Tenant Improvements (subject to any applicable restrictions, conditions, limitations, reductions or charges set forth in the Lease or in this Tenant Work Letter) prior to being required to expend any of Tenant’s own funds for the Tenant Improvements. The funding of the Tenant Improvement Allowance shall be available for use made on a monthly basis or at other convenient intervals mutually approved by TenantLandlord and Tenant and in all other respects shall be based on such commercially reasonable disbursement conditions and procedures as Landlord, Project Manager and Landlord’s lender (if any) may reasonably prescribe. In Notwithstanding the event that foregoing provisions, under no circumstances shall the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized any portion thereof be used or useable by Tenant on for any moving or before relocation expenses of Tenant, or for any Cost of Improvement (or any other cost or expense) associated with any moveable furniture or trade fixtures, personal property or any other item or element which, under the first (1st) anniversary applicable provisions of the Lease, will not become Landlord’s property and remain with the Building upon expiration or termination of the Lease. Notwithstanding anything to the contrary herein, the Tenant Improvements shall not include (and Landlord shall be solely responsible for and the Tenant Improvement Allowance shall not be used for) the following: (a) costs incurred due to the presence of any Hazardous Materials, if any, but with respect to removal and remediation of any such Hazardous Materials, only to the extent such removal or remediation is required by Applicable Laws enforced as of the date of this Lease Commencement Datefor improvements in the Premises generally (as opposed to the specific Tenant Improvements) and to the extent the same required in order to allow Tenant to obtain a certificate of occupancy or its legal equivalent, then such unused amounts for the Premises for the Permitted Use assuming a normal and customary occupancy density; (b) costs to bring the Project into compliance with Applicable Laws to the extent required in order to allow Tenant to obtain a certificate of occupancy or its legal equivalent, for the Premises for the Permitted Use assuming a normal and customary office occupancy density; (c) construction costs in excess of the contract amount stated in the contract with the General Contractor, as approved EXHIBIT B by Tenant (not to be unreasonably withheld), except for increases set forth in change orders approved by Tenant; (d) wages, labor and overhead for overtime and premium time unless approved by Tenant (which approval shall revert not be unreasonably withheld, conditioned or delayed); (e) attorneys’ fees incurred in connection with negotiation of construction contracts, and attorneys’ fees, experts’ fees and other costs in connection with disputes with third parties; (f) interest and other costs of financing construction costs; (g) costs incurred as a consequence construction defects or default by a contractor; (h) costs as a consequence of casualties; (i) penalties and late charges attributable to Landlord’s failure to pay construction costs, and (j) costs due to compliance with any soil management plan for the Project or its appendices. Any unused portion of the Tenant Improvement Allowance remaining as of December 31, 2022, shall remain with Landlord and Tenant shall have no further rights with respect right thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Lease (Annexon, Inc.)

Tenant Improvement Allowance. In order for the Premises to be useful to Tenant and marketable in the future for Landlord, Landlord and Tenant agree that Landlord shall pay an improvement allowance to Tenant in order for Tenant to construct a buildout at the Premises pursuant to Exhibit B attached hereto. Thus, Landlord and Tenant acknowledge and agree that Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant provided an Improvement Allowance") Allowance in the amount set forth in Section 12 of the Summary approximately Three Hundred and Twenty Thousand Dollars ($320,000.00) for the costs relating to work described in accordance with Exhibit B (the initial design and construction of Tenant's improvements“Tenant Improvements”). No material deviations from Exhibit B shall be made by Tenant without Landlord’s prior written consent, which are permanently affixed to the Premises (the "Tenant Improvements")shall not be unreasonably withheld. 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements “Material deviations” shall be available for use by Tenant. In defined as an increase or decrease of $100,000 or more at the event Premises, it being agreed that the total Tenant Improvement Allowance or Landlord's Drawing Contribution is for the Premises and 000 Xxxxx Xxxx Xxxxx leased to Tenant under a separate lease shall not fully utilized by Tenant on or before the first (1st) anniversary exceed $2,000,000. Approval of the Lease Commencement Date, then such unused amounts plans and specifications by Landlord shall revert to Landlordnot constitute the assumption of and responsibility by Landlord for their accuracy or sufficiency, and Tenant shall have no further rights with respect theretobe solely responsible for such items. Tenant shall be responsible for any and all costs and expenses which exceed the Improvement Allowance. Any portion of the total Improvement Allowance shall be paid to Tenant or to Tenant’s general contractor, Xxxxxx Xxxxx Company, within 30 days following receipt by Landlord of (1) invoices; (2) an AIA sworn statement from the general contractor, (3) an affidavit from the Tenant that the payments from the prior disbursement request have been made in full; (4) Landlord lender approval and submittal by Tenant of lender-requested mechanics or materialmen lien waivers or their functional equivalents under applicable Connecticut’s materialmen lien laws; and (5) and the certification of Tenant and its architect that the Tenant Improvements that require the use of Building risershave been made in accordance with applicable laws, raceways, shafts and/or conduits, codes and ordinances. The Improvement Allowance shall be subject disbursed in the amount reflected on the invoices meeting the requirements above. Notwithstanding anything herein to Landlord's reasonable rulesthe contrary, regulationsLandlord shall not be obligated to disburse any portion of Improvement Allowance during the continuance of an uncured default under the Lease, and restrictionsLandlord’s obligation to disburse shall only resume when and if such default is cured. The final 7 1/2% of the Improvement Allowance shall be withheld by Landlord and disbursed upon receipt of the final sworn statement. Immediately after the final payment is made, including the requirement that any cabling vendor must be selected Tenant shall provide Landlord with confirmation of full payment from a list provided by Landlordall contractors, subcontractors, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage vendors who performed work to the Premises and Building caused desired by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsTenant.

Appears in 1 contract

Samples: One Targeting Centre Lease Agreement (Valassis Communications Inc)

Tenant Improvement Allowance. A. Subject to Tenant’s compliance with the provisions of this Exhibit F, Landlord shall provide to Tenant shall be entitled to a one-time tenant improvement an allowance in the amount of Two Hundred Fifty Four Thousand Eight Hundred Eighty and 00/100 Dollars ($254,880.00) (the "Tenant Improvement Allowance") in to construct and install only the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement Date, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Tenant shall have the right to utilize (i) up to Fifty Three Thousand One Hundred Dollars ($53,100.00) of the Tenant Improvement Allowance for the purchase of furniture for the Premises (as evidenced by third party invoices for such furniture costs) and (ii) all or a portion of the Tenant Improvement Allowance for the tenant improvements being constructed by Tenant at premises owned by affiliates of Landlord mayand to be leased by Tenant located at 1003 – 0000 Xxxxxxxx Xxxxxx, by written notice to Tenant prior Menlo Park, California and 0000 Xxxxxx Xxxx, Xxxxx Xxxx, Xxxxxxxxxx, subject to the end terms of the Lease Termleases between Tenant and such affiliates of Landlord. The Tenant Improvement Allowance shall be used to design, or given following any earlier termination of this Leaseprepare, require Tenantplan, at Tenant's expenseobtain the approval of, to remove any construct and install the Tenant Improvements and for no other purpose. Except as otherwise expressly provided herein, Landlord shall have no obligation to repair any damage contribute the Tenant Improvement Allowance unless and until the Construction Documents have been approved by Landlord and Tenant has complied with all requirements set forth in Paragraph 4.C. of this Exhibit F. In addition to the Premises and Building caused by such removal and return the affected foregoing, Landlord shall have no obligation to disburse all or any portion of the Premises Tenant Improvement Allowance to their condition existing Tenant unless Tenant makes a progress payment request pursuant to the terms and conditions of Section 5.B. below prior to December 31, 2012 (time being of the installment essence). The costs to be paid out of such the Tenant Improvements.Improvement Allowance shall include all reasonable costs and expenses associated with the design, preparation, approval, planning, construction and installation of the Tenant Improvements (the “Tenant Improvement Costs”), including all of the following:

Appears in 1 contract

Samples: Pacific Biosciences of California Inc

Tenant Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") ), in the amount set forth in Section 12 the amount of $50.00 per RSF of the Summary Premises (i.e., $5,485,050.00 for the 109,701 RSF of the Premises), for the costs relating to the initial design and construction of Tenant's improvements, improvements which are permanently affixed to the Premises (the "Tenant Improvements"). 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. In addition, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect/Space Planner," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution, if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenant. In the event that the Tenant Improvement Allowance or Landlord's Drawing Contribution is not fully utilized disbursed by Landlord to, or on behalf of, Tenant on or before the first (1st) anniversary of the Lease Commencement DateAugust 1, 2019, then such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that the amount and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlord's property under the terms of the Lease; provided, however, Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements.

Appears in 1 contract

Samples: Office Lease (Zeltiq Aesthetics Inc)

Tenant Improvement Allowance. Landlord shall provide Tenant shall be entitled with a basic allowance for construction of Tenant's Improvements Work and to a one-time tenant improvement allowance offset such other Tenant Improvement Costs as Tenant may incur in connection with this Lease in an amount determined by multiplying the sum of Thirty Five Dollars ($35.00) times the number of square feet of Usable Area in the Premises as determined in accordance with Section 1.05 ("Tenant Improvement Allowance") in the amount set forth in Section 12 of the Summary for the costs relating to the initial design and construction of Tenant's improvements, which are permanently affixed to the Premises (the "Tenant Improvements"). In no event shall Landlord be obligated to make disbursements pursuant to this All Tenant Work Letter Improvement Costs in a total amount which exceeds excess of the Tenant Improvement Allowance. In additionAllowance (collectively, Landlord shall contribute an amount not to exceed $0.15 per rentable square foot of the Premises ("LandlordTenant's Drawing Improvement Contribution") toward shall be paid by Tenant. Landlord acknowledges receipt of an initial contribution to Tenant Improvement Contribution of Two Hundred Forty-three Thousand Three Hundred Thirteen Dollars ($243,313). An additional contribution to Tenant's Improvement Contribution in excess of the cost of one Tenant Improvement Allowance and the initial contribution to the Tenant Improvement Contribution shall be paid by Tenant to Landlord fifteen (115) preliminary space plan to be prepared by "Architect/Space Planner," days after Tenant shall have approved a Cost Estimate (as that each term is defined in Section 3.1, below, the Work Letter) and no portion Landlord and Tenant have thereafter agreed on an estimate of Tenant Improvement Costs. Any additional contributions to Tenant's Improvement Contribution to be paid by Tenant hereunder shall be paid by Tenant to Landlord thirty (30) days after Tenant shall have approved a Revised Cost Estimate (as such term is defined in the Landlord's Drawing ContributionWork Letter), if any, remaining after the completion of the Tenant Improvements shall be available for use by Tenantsame is required. In the event that the actual Tenant Improvement Costs are less than the sum of the Tenant Improvement Allowance or Landlordand Tenant's Drawing Contribution is not fully utilized by Tenant on or before the first (1st) anniversary of the Lease Commencement DateImprovement Contribution, then Landlord shall pay to Tenant within ten (10) days after such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord's reasonable rules, regulations, and restrictions, including the requirement that any cabling vendor must be selected from a list provided by Landlord, and that determination the amount and location by which the sum of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Landlordand Tenant's property under Improvement Contribution exceeded the terms of the Leaseactual Tenant Improvement Costs; providedprovided , however, in no event shall the Landlord may, by written notice be required to Tenant prior to pay an amount greater than the end amount of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant's expenseImprovement Contribution. The Tenant Improvement Allowance and Tenant's Improvement Contribution are herein collectively referred to as the "Tenant Improvement Fund". In no event, to remove any however, shall amounts paid for Tenant's moving costs from the Tenant Improvements and to repair any damage to Improvement Fund exceed Two Dollars ($2.00) per square foot of Usable Area in the Premises and Building caused by such removal and return the affected portion of the Premises to their condition existing prior to the installment of such Tenant ImprovementsPremises.

Appears in 1 contract

Samples: Agreement Regarding Lease (Iomega Corp)

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