Common use of Tenant Improvements Clause in Contracts

Tenant Improvements. All improvements to the Premises installed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property.

Appears in 1 contract

Sources: Office Lease (PROS Holdings, Inc.)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Landlord’s contractor, at Tenant’s sole cost and expense; provided that Landlord will contribute an amount up to the Premises installed by Landlord or Tenant (collectively, "TI Allowance toward the cost of completing the Tenant Improvements". All Tenant Improvements shall be constructed in substantial accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) will be owned by exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall advance to Landlord and will remain upon any Excess TI Costs within ten (10) days after receipt of an invoice therefor, but in any case before Landlord commences the Premises without compensation Tenant Improvements. If Landlord is delayed in performing the Tenant Improvements due to Tenant. However, Tenant, by written notice ’s failure to timely pay the Excess TI Costs to Landlord, may remove, at Tenant's expense, any or all Landlord shall be entitled to a day-for-day extension to achieve Substantial Completion of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed for the period of such delay. If the actual Excess TI Costs are less than the Excess TI Costs paid by Tenant to Landlord, Landlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, beginning after Landlord has completed the final accounting for the Tenant that are in excess Improvements. If the cost of the costs associated Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and Tenant shall deposit any additional Excess TI Costs with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Landlord or its contractors as the Tenant Improvements shall be new or “like new,” and the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertya first-class, workmanlike manner.

Appears in 1 contract

Sources: Lease Agreement (Carbylan Therapeutics, Inc.)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before Base TI Allowance and, if properly requested by Tenant pursuant to the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess terms of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration DateAdditional TI Allowance and in accordance with the Approved Plans (as defined below), the Lease and this Work Letter, provided that upon Landlord's prior written consent, which any vivarium shown on the Approved Plans shall not be unreasonably withheldexceed ten percent (10%) of rentable area of the Premises. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant may remain shall pay the costs of the Tenant Improvements on a pari passu basis with Landlord as such costs become due, in the Premises for up proportion of Excess TI Costs payable by Tenant to five days after the Expiration Date for Base TI Allowance and, if properly requested by Tenant pursuant to the sole purpose of removing Tenant's Removable Property. Tenant's possession terms of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at Additional TI Allowance payable by Landlord. If the rate in effect for the last month cost of the Term. Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and Tenant shall repair damage caused by pay any additional Excess TI Costs with Landlord in the installation or removal of Tenant's Removable Propertysame way that Tenant deposited the initial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 17 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 17 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (Monte Rosa Therapeutics, Inc.)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Tenant’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Premises installed TI Allowance) and in accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall advance to Landlord or any Excess TI Costs within ten (10) days after receipt of an invoice therefor, but in any case before Tenant (collectively, "commences the Tenant Improvements") will be owned . If the actual Excess TI Costs are less than the Excess TI Costs paid by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice Tenant to Landlord, may removeLandlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, at Tenant's expense, any or all of beginning after Landlord has completed the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by final accounting for the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. .. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage.

Appears in 1 contract

Sources: Lease Agreement (Bionovo Inc)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Tenant’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Premises installed by Landlord or TI Allowance and in accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (collectively, "Tenant Improvements") will be owned as reasonably agreed by Landlord and will remain upon Tenant) exceeds the Premises without compensation to TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant Improvements on a pari passu basis with Landlord as such costs become due, in the proportion of Excess TI Costs payable by Tenant. HoweverIn the event that the Excess TI Costs are less than projected, Landlord shall reimburse Tenant from the TI Allowance within thirty (30) days after completion of the Tenant Improvements for the amount of Excess TI Costs overpaid by Tenant. If Tenant fails to pay, by written notice to Landlord, may remove, at Tenant's expenseor is late in paying, any or sum due to Landlord under this Work Letter, then Landlord shall have all of the following on rights and remedies set forth in the Lease for nonpayment of Rent (subject to applicable cure periods in the Lease, and including the right to interest and the right to assess a late charge), and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or before its contractors as the Expiration Date (Tenant Improvements shall be new or earlier termination): (1) “like new;” the Tenant Improvements shall be performed in a first-class, workmanlike manner; and the quality of the Tenant Improvements shall be of a nature and character not less than the Building Standard. Tenant shall take, and shall its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectivelyImprovements, "Tenant's Removable Property")including covering or temporarily removing any window coverings so as to guard against dust, debris or damage. Tenant will be required Subject to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent’s approval, which shall not be unreasonably withheld, conditioned or delayed, Tenant may remain install an exhaust duct vertically on the exterior of the east or north side of the Building to support Tenant’s first floor vivarium operation; provided that (a) such duct shall, in Landlord’s reasonable determination, match the façade of the Building, (b) Landlord and Tenant shall reasonably agree on the path and location of the duct and (c) upon Landlord’s request, Tenant shall remove such duct upon the expiration or earlier termination of the Lease at its sole cost and expense and repair any damage caused thereby. As part of the Tenant Improvements, Tenant may, subject to Applicable Laws and at its sole cost and expense, install a one thousand five hundred (1,500) liter liquid nitrogen tank (the “Liquid Nitrogen Tank”) in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Leaselocation outlined on Exhibit D attached hereto and, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Propertyif necessary, Landlord may, may relocate the bike rack located in that area to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property another location at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property’s sole cost and expense.

Appears in 1 contract

Sources: Lease (BIND Therapeutics, Inc)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Tenant’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Premises installed TI Allowance) and in accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) exceeds the T1 Allowance (such excess, the “Excess TI Costs”), Tenant shall advance to Landlord or any Excess TI Costs within ten (10) days after receipt of an invoice therefor, but in any case before Tenant (collectively, "commences the Tenant Improvements") will be owned . If the actual Excess TI Costs are less than the Excess TI Costs paid by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice Tenant to Landlord, may removeLandlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, at Tenant's expense, any or all beginning after Landlord has completed the final accounting for the Tenant Improvements. If the cost of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed (as projected by the Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant that are in excess of the costs associated and Tenant shall deposit any additional Excess TI Costs with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 17 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 17 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (Codex DNA, Inc.)

Tenant Improvements. Landlord shall provide a tenant improvement allowance of up to, but not to exceed, $16.50 per RSF, based on the mutually acceptable space plan of the Modified Premises, to be used within the first eighteen (18) months of the Lease Extension Term. Based on 21,520 rentable square feet the tenant improvement allowance will be $355,080. A space plan of the Modified Premises acceptable to both Landlord and Tenant must be completed in a timely manner. All tenant improvements must be completed by September 30, 2005. Tenant shall give immediate attention to its space plan requirements and shall notify Landlord as soon as Tenant is prepared to meet with Landlord’s architect in order to prepare a space plan for Landlord’s review and approval. The total square feet of Rentable Area used to initially determine the dollar value of the tenant improvement allowance shall be 21,520 RSF. The tenant improvement allowance shall be adjusted when the square feet of Rentable Area of the Modified Premises is determined. The tenant improvement allowance may only be used for actual tenant improvements, including, but not limited to, build-out, carpeting, painting, HVAC upgrades, electrical upgrades (including a full scale UPS unit), data and phone cabling, security systems, raised floor, furniture or any other tenant improvements required by Insightful Corporation. Any costs associated with increasing the electrical and cooling capacities from their current levels shall be included in the tenant improvement allowance. Landlord and Tenant shall mutually agree upon the specifications and locations of any electrical, HVAC and card key security upgrades, including any UPS units. Lease Amendment (Lease Extension) – Insightful Corporation May 11, 2004 Tenant may install a UPS unit of a type and in a location mutually acceptable to both Landlord and Tenant. Landlord shall permit Tenant to install an additional HVAC unit for Tenant’s server room of a type and in a location mutually acceptable to both Landlord and Tenant, and which shall include the installation of one additional condensing unit at the building roof; the additional rooftop condensing unit shall be installed at a location approved by Landlord, mounted on sleepers and in such a manner that there is no penetration of the building roof. Unless their removal is required by Landlord as provided in Section 12 of the Lease, all additions, alterations and improvements made to the Premises shall become the property of Landlord and shall be surrendered with the Premises upon the expiration of the Lease Extension Term including, but not limited to, HVAC equipment and furniture acquired at the expense of Landlord; provided, however, Tenant’s equipment, machinery, furniture and trade fixtures, not acquired at the expense of Landlord, which can be removed without damage to the Premises shall remain the property of Tenant and may be removed, subject to the provisions of Section 13b of the Lease. Pursuant to Section 9 (Services and Utilities) of the Lease, Tenant shall install and maintain equipment that measures the electric current consumed by any HVAC equipment currently installed for Tenant’s exclusive use at Tenant’s server room, as well as any additional HVAC equipment to be installed per Section 7 of this Amendment, including, but not limited to, any rooftop condensing units or other peripheral equipment required for the operation of any HVAC equipment installed per Section 7 for the exclusive use of Tenant. Tenant shall be solely responsible for all costs related to the maintenance and repair of this equipment. Tenant shall reimburse Landlord for all electric current consumed in the operation of said HVAC equipment used exclusively by Tenant. Tenant agrees to pay to Landlord promptly upon demand by Landlord for all such electric current consumed, as shown by any electric current meters installed, at the rates charged for such services by the City of Seattle or the local public utility furnishing the same, plus any reasonable additional expense, if any, incurred in keeping account of the electric current so consumed. Landlord will not agree to any unused tenant improvement balance being applied towards Rent. Landlord shall pay up to $5,000.00 (five thousand dollars) for space planning, engineering fees and construction drawings (“Planning Allowance”). The Planning Allowance is separate from and in addition to the tenant improvement allowance. Following completion of a mutually agreed upon final space plan, Landlord will promptly cause to be prepared and delivered to Tenant (collectivelyan estimate of construction costs. If the estimated construction cost is less than the tenant improvement allowance, "Tenant Improvements") the estimated construction cost will be owned by deemed approved unless Tenant notifies Landlord and will remain upon of Tenant’s objection to the Premises without compensation to construction cost estimate within five (5) business days of Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all ’s receipt of the following on or before estimate. Landlord thereafter shall take reasonable steps to modify the Expiration Date estimate of construction costs to address Tenant’s objection and shall deliver to Tenant a revised estimate of construction cost. If the estimated construction cost is more than the tenant improvement allowance, Tenant will establish the maximum approved cost (or earlier termination): “Tenant’s Maximum Approved Cost”) by either: a) Agreeing in writing to pay the amount by which the estimated construction cost exceeds the tenant improvement allowance or; Lease Amendment (1Lease Extension) – Insightful Corporation May 11, 2004 b) Agreeing to have the space plan revised by Landlord’s architect, the cost for which shall be subject to the Planning Allowance above and any Tenant Improvements that were installed by the Tenant that are costs in excess of the costs associated with standard office improvements; Planning Allowance shall be at Tenant’s sole cost and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARDexpense, in order to leave assure that the Premises in a reasonably leaseable/useable condition estimated construction cost is either: i) No more than the tenant improvement allowance; or ii) Exceeds the Tenant improvement allowance by an office tenantamount that the Tenant agrees to pay. Tenant's Removable Property After exhaustion of the tenant improvement allowance, any amount payable by Tenant for tenant improvements in excess of the tenant improvement allowance shall be removed billed periodically to Tenant by Landlord as the work proceeds, and Tenant before agrees to pay each such invoice within fifteen (15) business days following its delivery. Tenant will give immediate attention to establishing Tenant’s Maximum Approved Cost and respond to Landlord within five (5) business days of receipt of the Expiration Date or date estimate of termination construction costs. Upon Tenant’s timely fulfillment of this Leaseits obligations above, if earlier than Tenant’s Maximum Approved Cost will be established. Upon establishment of Tenant’s Maximum Approved Cost, Landlord will cause to be prepared and delivered to Tenant the Expiration Dateworking drawings, provided that upon Landlord's prior written consentthe construction schedule, which shall not be unreasonably withheld, Tenant may remain in and the Premises for up to five days after the Expiration Date final construction budget proposal for the sole purpose of removing improvements in accordance with the final space plan. If the final construction budget is less than Tenant's Removable Property. Tenant's possession ’s Maximum Approved Cost, the Landlord will take steps necessary to commence construction of the Premises improvements to the premises in coordination with Tenant. If the final construction budget is more than Tenant’s Maximum Approved Cost, Landlord will so notify Tenant in writing and Tenant will 1) agree in writing to pay the amount by which the final construction budget exceeds the Tenant’s Maximum Approved Cost or 2) request Landlord to revise the working drawings, the cost for such purpose which shall be subject to the Planning Allowance above and any costs in excess of the Planning Allowance shall be at Tenant’s sole cost and expense, in order to assure that the final construction budget is no more than Tenant’s Maximum Approved Cost. Tenant will give its immediate attention to Tenant’s Maximum Approved Cost approval process and to respond to Landlord within five (5) business days after submissions. Following approval of the final working drawings and Tenant’s Maximum Approved Cost by Landlord and Tenant, Landlord will cause application to be made to the appropriate governmental authorities for necessary approvals and building permits. Upon receipt of the necessary approvals and permits, Landlord will begin construction of the improvements, subject to the rights of Tenant in possession or upon vacation of premises by Tenant in possession. Landlord shall coordinate construction of the improvements with Tenant. Landlord shall promptly notify Tenant of any changes to the aforementioned construction schedule. Landlord shall contract with the space planner and all terms contractors associated with the tenant improvements, with the exception of Tenant’s consultants. The electrical contractor will be NetVersant Power Systems; the HVAC contractor will be ▇▇▇▇▇▇▇▇▇-▇▇▇▇▇▇ Facility Services. Construction drawings shall be prepared by Landlord’s architect. Landlord shall obtain and conditions of this LeaseLease Amendment (Lease Extension) – Insightful Corporation May 11, including 2004 reasonably consider bids from three (3) general contractors prior to selecting the obligation general contractor to pay Rent on a per diem basis construct the tenant improvements. Landlord will coordinate the tenant improvement construction at the rate in effect no cost to Tenant. Tenant may, at its option and subject to approval by Landlord, contract directly with contractors for the last month installation of phone and data cabling, purchase and installation of furniture, and any other tenant improvement expense approved by Landlord. The costs for any such work or purchases shall be paid by Landlord as a part of the Termtenant improvement allowance. Tenant shall repair damage caused agree to submit any contractor’s invoices received by Tenant for such work or purchases to Landlord in a timely manner; Landlord shall make payment for any such work directly to Tenant’s contractors. During the installation course of the construction of the improvements to the Premises, Landlord shall notify Tenant promptly of any change to the working drawings that adversely affects Tenant’s intended use of the Premises, or removal which increases the cost of construction and exceeds the tenant improvement allowance and thereby affects Tenant's Removable Property’s Maximum Approved Cost, if any; such notification shall include the total proposed cost of such change if such cost exceeds the tenant improvement allowance. If any increase in the cost of construction should exceed the tenant improvement allowance and no Tenant’s Maximum Approved Cost has previously been established, Tenant’s Maximum Approved Cost shall be established as outlined above. Tenant shall notify Landlord in writing of its approval or disapproval of any such change within five (5) business days after receipt of such notification. If Tenant fails to remove respond to such notification within five (5) business days after delivery by Landlord, Tenant will be deemed to have approved the proposed change, as well as any increase in cost to Tenant, and Landlord will proceed to perform the change. If Tenant timely notifies Landlord of Tenant's Removable Propertyits disapproval of any change to the working drawings, Landlord mayand Tenant shall work together to reasonably modify the working drawings to address Tenant’s concerns with respect to such change. Any tenant improvement, to build-out or construction performed by Landlord shall be performed in a good and workmanlike manner and shall comply with any government building codes or ordinances, including the fullest extent permitted by Law: Americans with Disabilities Act (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.ADA), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property.

Appears in 1 contract

Sources: Lease Amendment (Insightful Corp)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Landlord’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Premises installed TI Allowance used by Landlord or Tenant (collectively, "in completing the Tenant Improvements") will and in substantial accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall advance to Landlord any Excess TI Costs within ten (10) days after receipt of an invoice therefor. The parties agree that the Excess TI Costs shall be owned advanced in three (3) tranches pursuant to invoices issued by Landlord; the first tranche shall be in an amount equal to 25% of the Excess TI Costs and shall be advanced before Landlord commences the Tenant Improvements, the second tranche shall be in an amount equal to 50% of the Excess TI Costs and will remain upon shall be advanced when the Premises without compensation Tenant Improvements are approximately 50% complete; the third tranche shall be in an amount equal to 25% of the Excess TI Costs and shall be advanced when the Tenant Improvements are approximately 75% complete. If Landlord is delayed in commencing the Tenant Improvements due to Tenant. However, Tenant, by written notice ’s failure to timely pay the Excess TI Costs to Landlord, may remove, at Tenant's expense, any or all Landlord shall be entitled to a day-for-day extension to achieve Substantial Completion of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed for the period of such delay. If the actual Excess TI Costs are less than the Excess TI Costs paid by Tenant to Landlord, Landlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, beginning after Landlord has completed the final accounting for the Tenant that are in excess Improvements. If the cost of the costs associated with standard office improvements; Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (said increase has not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain been included in the Premises for up to five calculation of the tranches mentioned above, then Landlord may notify Tenant and Tenant shall advance such additional Excess TI Costs within ten (10) days after the Expiration Date for the sole purpose receipt of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyan invoice therefor. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Landlord or its contractors as the Tenant Improvements shall be new or “like new,” and the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertya first-class, workmanlike manner.

Appears in 1 contract

Sources: Lease (Intellia Therapeutics, Inc.)

Tenant Improvements. All improvements Subject to the Premises installed by force majeure events, including events, conditions, and occurrences that are outside of Landlord’s reasonable control that prevent or delay Landlord or Tenant from performing its obligations, including requirements of, and approval from, governmental authorities and acts of God (collectively, "Tenant Improvements") will be owned by “Force Majeure Events”), Landlord and will remain upon the Premises without compensation shall use commercially reasonable efforts to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold construct certain tenant improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up Tenant’s use in accordance with the permitted use set forth below. Landlord shall prepare plans, drawings and specifications for Landlord’s construction of the tenant improvements for Tenant’s review and reasonable comments, provided that Tenant’s comments do not result in any delay in Landlord’s construction of the tenant improvements or increase in the costs of such construction. Any comments to Landlord’s plans, specifications and drawings shall be submitted to Landlord no later than five (5) business days after the Expiration Date for the sole purpose Tenant’s receipt of removing Tenant's Removable Propertysuch plans, specifications and drawings. Tenant's possession Landlord shall control all aspects of the design, preparation and construction of the tenant improvements. ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ #▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Budget $2,000,000 total Landlord budget for developing the Premises for and constructing the tenant improvements outlined in Exhibit B. Rent: Exhibit D – Rental Schedule, provided that in the event that Landlord’s total costs (including hard and soft costs, professional fees and costs, costs of permits, and all other related costs to be determined by Landlord) to develop the Premises and construct the tenant improvements exceeds Landlord’s budget, the annual and monthly rent amounts in the Rental Schedule shall increase to take into consideration such purpose increase in Landlord’s total costs, in which event Landlord shall amend the Rental Schedule to reflect the increase in costs and the increase in annual and monthly rent payments under the Lease, which shall be subject binding on Tenant. In addition to all terms the payment of annual and conditions of this monthly rent, and additional rent pursuant to the Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by also pay to Landlord all use taxes, sales taxes, transaction privilege taxes, excise taxes, and other similar taxes associated with the installation or removal Lease and Landlord’s receipt of Tenant's Removable Propertyrent payments under the Lease. If Tenant fails All payments to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement be made by Tenant to Landlord upon demand; and/or (3) sell or dispose of under the Lease shall be made in such Tenant's Removable Property without delivering form as is acceptable to Landlord, and Landlord shall not be obligated to accept any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth payments in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertycash.

Appears in 1 contract

Sources: Letter of Intent (Zoned Properties, Inc.)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove's contractor, at Tenant's expense, any or all sole cost and expense (subject to Landlord's obligations with respect to payment of the following on or before TI Allowance) and in accordance with the Expiration Date Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the applicable Tenant Improvements that were installed (as reasonably projected by Landlord) exceeds the TI Allowance (such excess, the "Excess TI Costs"), Tenant shall pay the costs of the Tenant that Improvements on a pari passu basis with Landlord as such costs become due, in the proportion of Excess TI Costs payable by Tenant to the TI Allowance. If the actual Excess TI Costs are in less than the Excess TI Costs paid by Tenant to Landlord, Landlord shall promptly return such excess to Tenant after Landlord has completed the final accounting for the Tenant Improvements. If the cost of the costs associated with standard office improvements; and Tenant Improvements (2as projected by Landlord) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon increases over Landlord's prior written consentinitial projection, which then Landlord may notify Tenant and Tenant shall not be unreasonably withheld, Tenant may remain deposit any additional Excess TI Costs with Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or "like new;" the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 17 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 17 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease Agreement (Natera, Inc.)

Tenant Improvements. All improvements Tenant shall be solely responsible for the installation of its FF&E, cabling and networking, and any additional IT installations within the First Floor Expansion Premises. Any Alterations made to the First Floor Expansion Premises installed shall be subject to Landlord’s prior consent and the terms of Article 10 of the Initial Lease, provided, however, (i) as part of its request for Landlord’s approval of an Alteration to the First Floor Expansion Premises, Tenant shall include a request that Landlord determine if Landlord will require the removal of such Alteration prior to the expiration or earlier termination of the Lease and (ii) for any Alterations to the First Floor Expansion Premises Tenant shall pay Landlord an oversight fee (“Oversight Fee”) equal to $1.00 per RSF of the First Floor Expansion Premises. In addition to the Oversight Fee, Tenant shall reimburse Landlord for the actual out-of-pocket costs incurred by Landlord or in connection with any third party review of Tenant’s plans, specifications, drawings and similar documentation (“Third Party Review Costs”). In the event the Oversight Fee exceeds $36,490.00, then Tenant shall pay Landlord for such additional work on a time and materials basis at the rate of $195/hour (collectively“Oversight Excess”), "Tenant Improvements"in addition to the Third Party Review Costs. For the avoidance of doubt, any Oversight Excess shall be in addition to (and not in lieu of) will be owned the Oversight Fee. Notwithstanding anything to the contrary contained in the Lease, with respect to the First Floor Expansion Premises only, unless otherwise stated by Landlord and will remain upon the Premises without compensation to Tenant. Howeverin writing as part of its consent, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will shall be required to remove any batteriesAlteration to the First Floor Expansion Premises, generatorsrestore the effected portion of the First Floor Expansion Premises to the condition prior to the construction of such Alteration (reasonable wear and tear excepted), fuel tanks and security systems repair any damage caused by such Alteration or the removal thereof, prior to the expiration or earlier termination of the Lease. Landlord shall have the option, to be exercised by written notice to Tenant any time between July 1, 2026 and July 31, 2026, Landlord to deliver to Tenant its estimate (not including interior wiring“Restoration Estimate”) installed by Tenantof the commercially reasonable (inclusive of copies of third-party bids for the work in question) cost to restore the First Floor Expansion Premises to the condition which existed prior to the Alteration(s) required to be removed under the terms of this Section 9. The Restoration Estimate shall be accompanied by reasonable backup documentation supporting Landlord’s estimate and the process Landlord used to ensure that such estimate is commercially reasonable. If Landlord delivers the Restoration Estimate to Tenant, then Tenant, on or before the Lease Expiration Date (i.e. December 31, 2026, subject to the exercise of any Renewal Options) shall deliver to Landlord a check (or other immediately available funds) (“Restoration Check”) in an amount equal to the Restoration Estimate. If Tenant will replace all Removed "timely delivers the Restoration Check, then Tenant Improvements" which were in "excess of standard" with leasehold improvements which would shall no longer be considered STANDARDrequired to remove the applicable Alteration(s) from the First Floor Expansion Premises, in order provided, however, Tenant shall otherwise remain obligated to leave surrender the First Floor Expansion Premises in a reasonably leaseable/useable the condition required by an office tenantSection 10.5 of the Initial Lease. Tenant's Removable Property shall be removed by Tenant before ’s failure to timely deliver the Expiration Date or date of termination of this Lease, Restoration Check (if earlier than applicable) and/or surrender the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain First Floor Expansion Premises in the condition required in the Lease shall result in a holdover tenancy solely with respect to the First Floor Expansion Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose and Tenant shall be subject to all the’ terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month Section 25 of the Term. Initial Lease until the Restoration Check is received by Landlord (if applicable) or Tenant shall repair damage caused by restores and repairs the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property First Floor Expansion Premises as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertyrequired herein.

Appears in 1 contract

Sources: Office Lease (Airbnb, Inc.)

Tenant Improvements. All improvements Following delivery of the Premises to Tenant on the Delivery Date, the Tenant Improvements shall be performed by ▇▇▇▇▇▇ (or, with respect to the Premises installed TI by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, TenantLandlord, by written notice to Landlord, may remove, ) at Tenant's expense’s sole cost and expense (subject to the TI Allowance) substantially in accordance with the Approved TI Plans (subject only to changes made in accordance with Section 6.3), any or all the provisions of the following on or before Lease governing Alterations (to the Expiration Date (or earlier termination): (1) any extent not inconsistent with this Work Letter), and this Work Letter. The schedule for the construction of the Tenant Improvements that were installed (other than the TI by Landlord) shall be in accordance with a schedule to be prepared by ▇▇▇▇▇▇’s general contractor (the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"“TI Schedule”). Tenant will be required shall prepare the TI Schedule so that it is a reasonable schedule for the completion of the Tenant Improvements (other than the TI by Landlord), taking into account the work necessary for Landlord to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed achieve Substantial Completion by Tenantthe date set forth in the GMP Contract. The TI Schedule shall clearly identify estimated dates and time periods when Tenant’s contractor will require access to areas that are under construction by Landlord. As soon as the TI Schedule is completed, Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order shall deliver the same to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord for Landlord's prior written consent’s approval, which approval shall not be unreasonably withheld, Tenant may remain in the Premises for up to five conditioned or delayed. Such TI Schedule shall be approved or disapproved by Landlord, following consultation with Landlord’s General Contractor, within ten (10) business days after the Expiration Date for the sole purpose of removing Tenant's Removable Propertydelivery to Landlord. Tenant's possession of the Premises for Landlord’s failure to respond within such purpose ten (10) business day period shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused deemed approval by the installation or removal of Tenant's Removable PropertyLandlord. If Landlord disapproves the TI Schedule, then Landlord shall notify Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether of its objections to such TI Schedule, with reasonable detail, and the Alteration or any portion of parties shall confer and negotiate in good faith to reach agreement on the Alteration will be designated as Tenant's Removable PropertyTI Schedule.

Appears in 1 contract

Sources: Lease Agreement (Ionis Pharmaceuticals Inc)

Tenant Improvements. All Certain improvements to the Premises installed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required in order for Tenant to remove any batteries, generators, fuel tanks and security systems operate its business within the Premises (not including interior wiring) installed by Tenantthe ‘Tenant Improvements”). The cost of constructing the Tenant Improvements will replace all Removed "include design and engineering expenses, hard and soft construction costs, cost of demolition, permit fees, the cost of compliance with the ADA if required due to Tenant’s space plan (excepting modifications to existing improvements not in compliance). The construction drawings for completion of the Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property Improvements shall be removed prepared by Tenant before as soon as reasonably practicable, and delivered to Landlord for Landlord’s review and approval (which may include review by Landlord’s architect and other professional consultants, depending upon the Expiration Date or date scope of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consentwork), which shall not be unreasonably withheld, Tenant may remain in conditioned or delayed (the “Plans”). The Plans shall include all proposed demolition of any part of the Premises. Landlord shall expedite its review of the Plans to the extent reasonably practicable. Any change orders shall be similarly approved by Landlord, and revised Plans addressing the change orders shall be delivered to Landlord and updated as-built Plans shall be provided to Landlord reflecting any work to the Premises for up to five days occurring after the Expiration Date initial completion of the Tenant Improvements. Landlord shall not be responsible for construction of the Tenant Improvements, or the payment of any costs associated therewith, except as otherwise expressly provided herein, which Tenant Improvements shall be constructed by Tenant in accordance with the terms of this Exhibit D (the “Work Letter”). The Tenant Improvements shall be constructed on an “open book” basis, with copies of all bids, contracts, and invoices for the sole purpose Tenant Improvements being made available to Landlord for inspection. The Tenant Improvements shall be constructed in accordance with the requirements of removing Tenant's Removable Property. Tenant's possession Section 9.1 of the Premises Lease relating to Alterations. As-built plans for such purpose the Tenant Improvements shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement provided by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion completion of the Alteration will Tenant Improvements. Tenant shall deliver final preliminary drawings to Landlord and Landlord’s architect which define the complete scope of work as soon as possible for their review and approval, which approval shall not be designated as Tenant's Removable Propertyunreasonably withheld, delayed or conditioned. Tenant shall also deliver to Landlord and Landlord’s architect a copy of the final contract documents to be used for permitting purposes prior to commencing any work within the Premises.

Appears in 1 contract

Sources: Lease Agreement (Southern Graphic Systems, Inc.)

Tenant Improvements. All improvements Twenty-five percent (25%) of all obligations to pay the Premises installed by Landlord cost of any tenant improvement work owed or Tenant (collectively, "Tenant Improvements") will to be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all owed in connection with new leases of the following on Building executed after the date hereof or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed result of the renewal of the Lease, the extension of the term of the Lease, the expansion of the premises demised by the Tenant that are in excess Lease to space within the Building or the exercise of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required an option to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain lease additional space in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs Building set forth in the preceding sentenceLease occurring after the date hereof, which costs shall include, but not be limited to, all sums expended by Highwoods for such tenant improvement work (including all overhead costs incurred by Highwoods or its affiliates in connection with the performance of the work related to such tenant improvements not to exceed five percent (5%) of the cost of such tenant improvements) and a profit not to exceed ten percent (10%) of the cost of such tenant improvements shall be assumed and paid by the Distributees on the Closing Date by reimbursing Highwoods for the costs of such tenant improvements previously paid by Highwoods in connection with new leases, renewals, extensions, relocations, expansions, or the exercise of an option to lease additional space in the Building occurring after the date hereof or if the cost of such tenant improvements are not yet due and payable by paying the same when they otherwise become due without an adjustment to the value of the capital interest of the Distributees in Highwoods to be reduced as a result of this transaction. Notwithstanding the foregoing, Tenant, at to the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or extent any portion of the Alteration term of a Lease, and renewals, extensions, expansions and relocations for which any tenant improvement work is completed prior to the Closing Date, the amount of the value of the capital interest of the Distributees in Highwoods to be reduced as a result of this transaction will be designated reduced by a pro rata share of such tenant improvement work based upon the percentage of such term (exclusive of any renewal options) which occurs prior the Closing Date. If any tenant improvement work is in process on the Closing Date, Highwoods shall be responsible for completing the construction thereof, provided, the Distributees shall be responsible for the costs thereof as Tenant's Removable Propertyset forth above.

Appears in 1 contract

Sources: Partnership Agreement (Highwoods Properties Inc)

Tenant Improvements. All improvements (a) Landlord shall provide Tenant with a tenant improvement allowance not to exceed $14,700.00 (the Premises installed “Expansion Area Allowance ”) for costs associated with the Work (as defined below). The Expansion Area Allowance will be available to Tenant as of the Effective Date and must be utilized by Tenant no later than December 31, 2021, otherwise any remaining amount of the Expansion Area Allowance shall be forfeited by Tenant. Tenant shall not be entitled to any payments or rent reduction if the Expansion Area Allowance exceeds the actual cost of the Work. If the cost of the Work exceeds the Expansion Area Allowance, Tenant shall have the sole responsibility for payment of such excess costs. The Expansion Area Allowance is to be applied against the cost of the Work and shall be used solely for the design, including engineering plans, specifications and permits, purchase, installation, and construction of the Work. The Expansion Area Allowance shall not be used for Tenant’s furniture, furnishings, inventory, trade fixtures, personal property, or equipment. Tenant may submit requests for disbursement from the Expansion Area Allowance not more than monthly. To draw on the Expansion Area Allowance, Tenant must submit to Landlord a written notice requesting disbursement, together with (i) invoices for all costs included in the request for disbursement; (ii) proof that such costs have been paid, including appropriate lien waivers in a form acceptable to Landlord; and (iii) such other documentation as Landlord may reasonably request. Landlord shall make disbursements from the requested portion of the Expansion Area Allowance within sixty (60) days following Landlord’s receipt of a proper request for disbursement and Landlord may make such disbursements to Tenant or pay directly to Tenant’s contractors, as agreed to by Landlord and Tenant. No disbursement of any part of the Expansion Area Allowance by Landlord will constitute acceptance of any condition of the Work, an approval of any action taken or omission of Tenant or its contractors, subcontractors, or material suppliers, or waive any other rights or claims that Landlord might have at law or in equity. (b) The provisions of Articles 12, and 13 of the Original Lease shall apply to all of the Work, including the provisions relating to Landlord’s review and approval of the proposed plans and specifications of the alterations and improvements that Tenant desires to make in the Expansion Area (collectively, "the “Work”), provided, however, that none of the Work shall be deemed a Minor Alteration and all proposed plans and specifications shall be subject to Landlord’s review and approval. No portion of the Work shall be undertaken or commenced by Tenant Improvements") until all necessary building permits have been applied for and obtained by Tenant or Tenant’s contractor. Tenant or Tenant’s contractor will also obtain final inspection approval, if applicable, or any other final governmental approval of the Work that may be required by applicable codes and regulations, upon substantial completion of the Work. All construction will be owned done through Tenant’s contractors, who shall be approved by Landlord in advance (such approval not to be unreasonably withheld, conditioned, or delayed). Tenant shall require all contractors performing any portion of the Work to carry and will remain upon the Premises without compensation to Tenant. Howevermaintain, Tenant, by written notice at no expense to Landlord, may remove, at Tenant's expense, any or all of the following on or before insurance policies as determined by Landlord, written by insurance companies acceptable to Landlord: (a) commercial general liability insurance, which shall name Tenant and Landlord as additional insureds, in such amounts and with such endorsements that Landlord requires; (b) worker’s compensation insurance in such amounts as required by law and covering all persons engaged in the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvementsWork; and (2c) Tenant's personal property (collectivelyinsurance against such other perils or legal risks and in such amounts as Landlord may reasonably require. Upon Landlord’s request, "Tenant's Removable Property")Tenant shall provide Landlord with duplicate original counterparts of any of the insurance policies required by this paragraph. Tenant will be required shall permit access to remove any batteriesthe Premises, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose Work shall be subject to inspection, by Landlord and Landlord’s architects, engineers, contractors and other representatives, at all terms reasonable times during the period in which the Work is being constructed and conditions installed and following completion of the Work, provided Landlord uses commercially reasonable efforts to minimize interference with Tenant’s business operations in the Premises and the Work then being performed. (c) Tenant shall indemnify and hold harmless Landlord from and against any construction liens arising from the Work. Notwithstanding anything to the contrary contained in this LeaseAmendment, including Landlord’s participation in the obligation to pay Rent on a per diem basis at construction of the rate in effect Work shall not constitute any representation or warranty, express or implied, that the Work will be suitable for Tenant’s intended purpose. Tenant acknowledges and agrees that Tenant shall be solely responsible for the last month selection and hiring of its construction manager and that neither Landlord nor any agent, employee, contractor, or subcontractor of Landlord is managing or overseeing construction of the TermImprovements or Tenant’s contractors, subcontractors, and/or construction manager. Tenant shall repair damage caused by acknowledges and agrees that the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned Work is intended for use by Tenant with full rights and the specifications and design requirements for such Work are not within the special knowledge or experience of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property.

Appears in 1 contract

Sources: Lease Agreement (Redwood Trust Inc)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before TI Allowance) and in accordance with the Expiration Date Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements that were installed (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant that are Improvements on a pari passu basis with Landlord as such costs become due, in excess the proportion of Excess TI Costs payable by Tenant to the TI Allowance payable by Landlord. If the cost of the Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and Tenant’s pari passu share of the costs associated of the Tenant Improvements shall increase accordingly. If the actual Excess TI Costs are less than the Excess TI Costs paid by Tenant, Landlord shall credit Tenant with standard office improvementsthe overage paid by Tenant against Tenant’s Rent obligations (any such credit, the “Excess TI Costs Overage Credit”), beginning after Landlord has completed the final accounting for the Tenant Improvements; provided, however, that in no event shall such credit exceed an amount equal to the difference between (a) the amount of the available TI Allowance (i.e., $600,000) and (2b) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed the amount of the TI Allowance actually paid by Tenant. The Tenant will replace all Removed "Landlord in connection with the Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Propertypay, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership or is late in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Lawpaying, any unused portion sum due under this Work Letter, then Landlord shall have all of Tenant's Security Deposit may be applied to offset Landlord's costs the rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 18 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 18 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (Ardelyx, Inc.)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Tenant’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Premises installed TI Allowance) and in accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as reasonably projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall advance to Landlord or any Excess TI Costs within ten (10) days after receipt of an invoice therefor, but in any case before Tenant (collectively, "commences the Tenant Improvements") will be owned . If the actual Excess TI Costs are less than the Excess TI Costs paid by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice Tenant to Landlord, may removeLandlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, at Tenant's expense, any or all beginning after Landlord has completed the final accounting for the Tenant Improvements (which final accounting shall be completed within thirty (30) days following the completion of the following on or before Tenant Improvements). If the Expiration Date (or earlier termination): (1) any cost of the Tenant Improvements that were installed (as reasonably projected by the Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant that are in excess of the costs associated and Tenant shall deposit any additional Excess TI Costs with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or under this Work Letter (and Tenant fails to cure such non-payment within three (3) sell or dispose business days after notice from Landlord), then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 17 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 17 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (Protagonist Therapeutics, Inc)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before TI Allowance and in accordance with the Expiration Date Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements that were installed (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant that are Improvements on a pari passu basis with Landlord as such costs become due, in excess the proportion of Excess TI Costs payable by Tenant to the TI Allowance payable by Landlord. If the cost of the costs associated Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and Tenant shall pay any additional Excess TI Costs with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 17 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 17 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (Epizyme, Inc.)

Tenant Improvements. All Provided that Tenant is not in default under the Lease, Landlord shall contribute a maximum amount (“Tenant Finish Allowance”) of $81,905.00 (i.e., $5 per rentable office square foot of the Premises (i.e., 16,381 rsf)) to be used by Tenant for Tenant’s actual third party out-of-pocket costs to related to the following improvements to the Premises installed (the “Premises Improvements”): (a) Flooring: Supply and install flooring. Remove and dispose of existing flooring. (b) Paint: Prepare all paintable surfaces for new paint. Paint such surfaces. All paint will be water based and antimicrobial – mildew resistant. (c) Such other items as are approved in writing by Landlord or in its sole and absolute discretion. Tenant (collectivelyshall have the option, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, exercisable by written notice to Landlord, may remove, at Tenant's expense, any or all of the following Landlord on or before August 1, 2014 to increase the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by amount of the Tenant that are Finish Allowance by up to an additional amount of $150,000.00 (the “Additional Allowance”). If Tenant exercises its right to increase the Tenant Finish Allowance, then all references in this Lease to Tenant Finish Allowance shall mean and refer to the Tenant Finish Allowance and Additional Allowance. If Tenant exercises such option, monthly Basic Rent payable by Tenant throughout the initial Term shall be increased by an amount sufficient to fully amortize such increase in the Additional Allowance throughout said initial Term based upon equal monthly payments of principal and interest, with interest imputed on the outstanding principal balance at the rate of five and one-half percent (5.5%) per annum. In no event shall Landlord be obligated to make disbursements pursuant to this Lease in a total amount which exceeds the Tenant Finish Allowance and, if applicable, the Additional Allowance. Tenant shall have the sole and absolute responsibility for the payment of any excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property")cost of the Premises Improvements over the amount of the Tenant Finish Allowance. Tenant will be required shall select the licensed architect and contractor for such work, subject to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's ’s prior written consentapproval, which shall not be unreasonably withheld; provided that, in any event, Tenant may must contract with Landlord’s base building subcontractors for any electrical, life safety, structural, heating, ventilation, and air-conditioning work in the Premises, if the Landlord’s subcontractors pricing is competitive in the marketplace after a competitive bid process has been completed. Tenant shall deliver all plans and signage proposals related to the Premises Improvements to Landlord for Landlord’s prior written approval. Landlord’s review of the plans and signage proposals shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, compliance with Requirements or other like matters. The Premises Improvements shall be owned by the Landlord and shall remain in the Premises for up upon any termination. The Premises Improvements shall comply in all respects with the following: (i) the applicable laws, rules, statutes, regulations and requirements, as applicable according to five days after the Expiration Date for rulings of the sole purpose controlling public official, agent or other person; (ii) applicable standards of removing Tenant's Removable Propertythe American Insurance Association (formerly, the National Board of Fire Underwriters) and the National Electrical Code; and (iii) building material manufacturer’s specifications (collectively, the “Requirements”). Tenant's possession Landlord shall have the right to inspect the Premises Improvements at all times; provided, however, that Landlord’s failure to inspect the Premises Improvements shall in no event constitute a waiver of any of Landlord’s rights hereunder nor shall Landlord’s inspection of the Premises Improvements constitute Landlord’s approval of the same. Should Landlord disapprove any portion of the Premises Improvements, Landlord shall notify Tenant in writing of such disapproval and shall specify the items disapproved. Any defects or deviations in, and/or disapproval by Landlord of, the Premises Improvements shall be rectified by Tenant at no expense to Landlord. Tenant shall cause the Premises Improvements to be completed in a timely and workmanlike manner, in accordance with the plans and proposals approved by Landlord. Tenant’s indemnity of Landlord as set forth in this Lease shall also apply with respect to any and all costs, losses, damages, injuries and liabilities related in any way to the construction of the Premises Improvements and any act or omission of Tenant or Tenant’s employees, agents or contractors, or anyone directly or indirectly employed by any of them, or in connection with Tenant’s non payment of any amount arising out of the Premises Improvements. All of Tenant’s agents or contractors shall carry worker’s compensation insurance covering all of their respective employees, and shall also carry public liability insurance, including property damage, all with limits, in form and with companies as are required to be carried by Tenant as set forth in Paragraph 14. Upon completion of the Premises Improvements and in any event prior to December 31, 2014, Tenant shall furnish Landlord with (i) final unconditional waivers of liens in such form as may be reasonably required by Landlord and Landlord’s title insurance company from all parties performing labor or supplying materials or services in connection with the Premises Improvements showing that all of said parties have been compensated in full and are waiving all liens in connection with the Premises and the Building; (ii) temporary or permanent certificate of occupancy or equivalent as required by the local government to occupy the Premises, if applicable; (iii) “as built” drawings, if applicable; and (iv) a detailed breakdown of Tenant’s total construction costs, including invoices for such purpose costs, that is reasonably acceptable to Landlord. Landlord and Tenant shall be subject to all enter into a Disbursement Agreement in the form attached hereto as Exhibit “C” (“Disbursement Agreement”) with Nevada Construction Services and Tenant’s general contractor, which Disbursement Agreement shall provide the terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month payment of costs of construction of the TermPremises Improvements. Tenant shall repair damage caused be responsible for any alterations, additions or improvements required by Requirements to be made by Landlord to or in the installation Premises or removal the Building as a result of Tenant's Removable Property’s proposed alterations, additions, or improvements. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, Notwithstanding anything to the fullest extent permitted by Law: contrary contained herein or in the Disbursement Agreement, in the event the Tenant Finish Allowance has not been expended pursuant to the terms of this Section 59, (1i) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant shall not be entitled to Landlord upon demand; and/or (3) sell a credit or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, other payment for any unused portion of Tenant's Security Deposit may the Tenant Finish Allowance after December 31, 2014, and (ii) all undistributed amounts deposited by Landlord pursuant to the Disbursement Agreement shall be applied promptly returned to offset Landlord's costs set forth Landlord after December 31, 2014 in a manner directed by Landlord without the preceding sentence. Notwithstanding need for any further instruction or consent of Tenant and the foregoing, Tenant, at the time it requests approval form of Disbursement Agreement attached hereto as Exhibit “C” shall be modified to include a provision providing for such return in a proposed Alteration (defined form acceptable to Landlord in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertyits sole discretion.

Appears in 1 contract

Sources: Industrial Real Estate Lease (Galaxy Gaming, Inc.)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant Landlord’s contractor (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove“Contractor”), at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before Base TI Allowance and, if properly requested by Tenant pursuant to the Expiration Date terms of the Lease, the Additional TI Allowance used by Landlord in completing the Tenant Improvements) and in substantial accordance with the Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”) and Tenant agrees with Landlord’s projection and has been given opportunity to value engineer the project to a total that were installed by is at or below the TI Allowance, if desired, (provided that Tenant’s opportunity to value engineer the project shall end on January 6, 2012), Tenant shall pay the costs of the Tenant that are in excess of the Improvements on a pari passu basis with Landlord as such costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARDbecome due, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed proportion of Excess TI Costs payable by Tenant before to the Expiration Date or date of termination of this Base TI Allowance (and, if properly requested by Tenant pursuant to the Lease, if earlier than the Expiration Date, provided that upon Additional TI Allowance) payable by Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentenceLease for nonpayment of Rent (including the right to interest and the right to assess a late charge), and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. Notwithstanding All material and equipment furnished by Landlord or its contractors as the foregoingTenant Improvements shall be new or “like new,” and the Tenant Improvements shall be performed in a first-class, Tenantworkmanlike manner. Landlord and Tenant shall use commercially reasonable efforts to cooperate with each other to enforce any and all warranties from the Contractor with respect to the Tenant Improvements. Landlord warrants that, as of Substantial Completion of the Tenant Improvements, the Tenant Improvements shall be in compliance with all Applicable Laws, and Landlord shall, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated its sole cost and expense and as Tenant's Removable Property’s sole remedy, correct any breach of such warranty promptly following receipt of written notice thereof from Tenant.

Appears in 1 contract

Sources: Lease (aTYR PHARMA INC)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before Base TI Allowance and, if properly requested by Tenant pursuant to the Expiration Date terms of the Lease, the Additional TI Allowance) and in accordance with the Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements that were installed (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant that are in excess of the Improvements on a pari passu basis with Landlord as such costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARDbecome due, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed proportion of Excess TI Costs payable by Tenant before to the Expiration Date or date of termination of this Base TI Allowance (and, if properly requested by Tenant pursuant to the Lease, if earlier than the Expiration Date, provided that upon Additional TI Allowance) payable by Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage.

Appears in 1 contract

Sources: Lease Agreement (Depomed Inc)

Tenant Improvements. All Tenant shall be responsible for the design and construction of all improvements to the Expansion Premises installed by Landlord or Tenant (collectively, "“Expansion Tenant Improvements"”). Tenant shall submit tenant improvement plans to Landlord for Landlord’s review no later than ten (10) days from the date hereof. The Expansion Tenant Improvement Plans shall be designed and detailed so that the Expansion Tenant Improvements will comply with applicable laws and building codes. Within seven (7) days after Landlord’s receipt of the Expansion Tenant Improvement Plans, Landlord shall either approve the Expansion Tenant Improvement Plans (with Landlord’s approval not to be owned unreasonably withheld) or disapprove the Expansion Tenant Improvement Plans. Any disapproval shall include a detailed explanation of the rejected components of the Expansion Tenant Improvement Plans. If Landlord fails to respond in the established timeframe, the Expansion Tenant Improvement Plans shall be deemed to be approved by Landlord. If Landlord disapproves the Expansion Tenant Improvement Plans, tenant may submit a revised version of the Expansion Tenant Improvement Plans to Landlord for its review in the same manner described above. Tenant may continue such approval procedure until Landlord’s approval of the Expansion Tenant Improvement Plans is obtained or is deemed obtained. Once the Expansion Tenant Improvement Plans have been approved by Landlord, Tenant shall submit the Expansion Tenant Improvement Plans to the appropriate governmental agency(ies) for the necessary permits to construct the Expansion Tenant Improvements. Any nonmaterial change to the Expansion Tenant Improvement Plans required by a governmental agency shall be deemed approved by Landlord. Tenant shall submit any material changes to the Expansion Tenant Improvement Plans required by a governmental agency to Landlord for its review in the manner described above, except that the timeframe in such event shall be five (5) business days. Once the Expansion Tenant Improvement Plans are approved (or deemed approved) by Landlord and will remain upon Tenant has obtained the Premises without compensation to necessary construction permits, Tenant shall retain a reputable licensed and insured contractor(s), of Tenant. However, Tenant, by written notice ’s choice but subject to Landlord’s prior written approval, may removenot to be unreasonably withheld or delayed, at Tenant's expense, any or all to perform the construction of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Expansion Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property Such construction shall be removed by performed in substantial compliance with the approved Expansion Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the TermImprovement Plans. Tenant shall repair damage caused by have the installation or removal of Tenant's Removable Property. If Expansion Tenant fails to remove any of Tenant's Removable PropertyImprovements constructed in a professional, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertyworkmanlike manner.

Appears in 1 contract

Sources: Lease (Towerstream Corp)

Tenant Improvements. All improvements (a) In addition to the Premises installed construction of the Landlord Improvements as described above, Landlord agrees to construct those tenant improvements (the “Tenant Improvements”) specified below: Dock equipment other than dock bumpers and “Z guards” at each door, signage, gas system, MFL upgrades, including but not limited to, water storage backup tank, metal deck roof structure, smoke detection and automatic shut down, a second municipal water connection, separate fire loop for on site hydrants, fire alarm system or fire extinguishers in warehouse area, guard house, security system, electrical distribution, fire alarm system, mezzanine deck, office and warehouse improvements. (b) Landlord shall pay for the Tenant Improvements up to a maximum amount of $5,436,321, and Tenant shall pay for the cost of the Tenant Improvements in excess of such amount. If the cost of the Tenant Improvements is reasonably estimated by Landlord or to exceed such amount, such estimated overage shall be paid by Tenant before Landlord begins construction, and a final adjusting payment, based upon the actual costs of the Tenant Improvements, shall be made promptly after Tenant accepts possession of the Premises. Landlord will competitively bid all Tenant Improvements and will disclose such bids to Tenant on an “open book” basis. If after approval of the Drawings (as defined below), Tenant shall desire any changes to the Tenant Improvements it shall follow the procedure for Change Orders described in Paragraph 1(b) above. Any and all costs of reviewing any Change Order Request relative to the Tenant Improvements, and any and all costs of making any changes to the Tenant Improvements which Tenant may request and which Landlord shall approve shall be at Tenant’s sole cost and expense, and shall be paid to Landlord upon demand and before commencement of the work covered by the Change Order. Landlord shall proceed with and complete the construction of the Tenant Improvements in a good and workmanlike manner in accordance with all legal requirements and any Drawings prepared and approved by the parties as described below. The construction of the Tenant Improvements shall, to the extent possible, be coordinated with the construction of the Landlord Improvements. The Landlord Improvements shall not be deemed to have achieved Substantial Completion until the Tenant Improvements shall also have been Substantially Completed (also to be based upon the opinion of the Architect of Record). The Landlord and Tenant shall work together to prepare designs and construction drawings (collectively, "Tenant Improvements"the “Drawings”) will for the Initial Improvements and any such Drawings must be owned mutually approved by Landlord and will remain upon the Premises without compensation to TenantTenant before work is commenced. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all The cost of such designs and drawings shall be part of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertyallowance described above.

Appears in 1 contract

Sources: Lease Agreement (Skechers Usa Inc)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before Base TI Allowance and, if properly requested by Tenant pursuant to the Expiration Date terms of the Amendment, the Additional TI Allowances) and in accordance with the Approved Plans (or earlier termination): (1) any as defined below), the Amendment and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as reasonably projected by Landlord based on the Approved Budget (as that were installed by term is defined in Section 6.2 below)) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant that are Improvements on a pari passu basis with Landlord as such costs become due, in excess the proportion of Excess TI Costs payable by Tenant to the Base TI Allowance (and, if properly requested by Tenant pursuant to the Lease, the Additional TI Allowance) payable by Landlord. If the cost of the costs associated with standard office improvements; Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be shall pay any additional Excess TI Costs in the same way that Tenant is required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave pay the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter and such failure continues beyond the applicable notice and cure periods, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 17 of the Original Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 17 of the Original Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (CareDx, Inc.)

Tenant Improvements. All improvements (a) Upon written request from Tenant, Landlord at a cost to Landlord not to exceed the sum of $62,500 will construct approximately 2,500 square feet of additional office space in the Premises installed by Landlord or Tenant (collectively, the "Tenant Tenants Improvements") will be owned by ). Tenant shall reimburse Landlord and will remain upon for the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all cost of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by amortizing the cost thereof over the then remaining months of the term of the Lease at an interest rate of 11%; provided, however, Tenant shall reimburse Landlord within ten days of substantial completion of the Tenant that are improvements for any costs thereof in excess of the costs associated sum of $62,500. Landlord shall construct the Tenant Improvements pursuant to plans prepared by Tenant (the "Tenant Plans") and reasonably approved by Landlord. Upon substantial completion of the Tenant Improvements, Tenant shall be obligated to reimburse Landlord for said Tenant Improvements as set forth above. Upon the completion of the Tenant Improvements, the parties shall execute an agreement memorializing the amount due from Tenant to Landlord each month to reimburse Landlord for the Tenant Improvement Work. (b) Landlord shall give Tenant not less than 5 days notice of the date of the expected substantial completion date of the Tenant Improvements. If Tenant disputes Landlord's notice that the Tenant Improvements have been Substantially Completed, Tenant shall deliver notice of such dispute to Landlord within five (5) days after Landlord's delivery to Tenant of Landlords' Notice of Substantial Completion. The failure of Tenant to deliver the foregoing Notice within such five (5) day period shall preclude Tenant from claiming at a later date that the Tenant Improvements have not been Substantially Completed. Tenant's Notice disputing Landlord's notice of Substantial Completion must state with standard specificity which items Tenant disputes are not Substantially Completed. In the event Tenant delivers the foregoing Notice within such five (5) day period, and Landlord and Tenant cannot mutually agree on the date of Substantial Completion within fifteen (15) days of Tenant's delivery of the foregoing Notice, or such longer period as Landlord and Tenant may agree upon, then the parties shall each select an architect who in turn shall select a third party licensed architect, whose determination as to substantial completion shall be binding. The parties shall each pay for their own architect and split the cost of the third party architect. (c) In addition to the office improvementsspace referred to in Paragraph 5(a) above, Tenant shall have the option to construct up to 2,500 square feet of additional office space (the "Additional Space") pursuant to plans and specifications prepared by the Tenant and approved by the Landlord. Payment of the Additional Space improvements will be the sole responsibility of the Tenant. Landlord shall have the right to condition its consent to the work for the Additional Space upon review of the following information from Lessee: (i) the names and addresses of all contractors, subcontractors and material suppliers who will be present on the Premises; (ii) copies of all contracts pertaining to the performance of the work for which such access is being requested; (iii) copies of all licenses and permits required in connection with the performance of the work for which such access is being requested; and (2iv) Tenant's personal property (collectivelycertificates of insurance and instruments of indemnification against all claims, "Tenant's Removable Property")costs, expenses, liens, damages, and liabilities which may arise in connection with such work in amounts and with companies reasonably acceptable to Landlord. Tenant agrees that in accordance with Paragraph 7 of the Original Lease that upon expiration of the term, upon written notice from Landlord it will be required to remove any batteries, generators, fuel tanks the Additional Space and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave restore the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertyits original condition.

Appears in 1 contract

Sources: Lease Agreement (Riddell Sports Inc)

Tenant Improvements. All Tenant and Landlord agree that Landlord shall make improvements to the Tenant's Premises installed according to the space plan attached hereto as Exhibit B and by Landlord or Tenant this reference made a part hereof (collectively, the "Tenant Improvements"). Landlord agrees to pay up to an allowance of One Hundred Seventy Five Thousand Nine Hundred Twenty Dollars and 00/100 ($175,920.00) will (the "Maximum Allowance") associated with Tenant's Premises (Suite 100) at its sole cost and expense related to such Tenant Improvements. In the event the cost of Tenant Improvements exceed the Maximum Allowance, Tenant hereby agrees to pay promptly when due the cost overage for such Tenant Improvements above the Maximum Allowance, if any, provided Tenant has approved such overage in writing prior to incurring such overage. Landlord agrees to pay the tenant improvement invoices as they become due with Tenant reimbursing Landlord for all amounts over the Maximum Allowance stated above provided Tenant has approved such overage in writing prior to incurring such overage. IT IS EXPRESSLY AGREED TO HEREIN THAT NO WORK WILL BE AUTHORIZED FOR OVER THE MAXIMUM ALLOWANCE WITHOUT PRIOR WRITTEN APPROVAL OF BOTH LANDLORD AND TENANT. Tenant Improvements shall be owned defined as all costs associated with improving the Premises, as it relates to Exhibit B, including new carpeting and padding (if applicable), general conditions of the contractor (including overhead and profit), wall installation and/or removal, wall preparation, painting, floor plan preparations and review, permits, hard surface floor covering, relites, doors, door jambs, door hardware, Tenant signage, sprinklers, vapor/noise barriers, smoke detectors, fire dampers/stops, light fixtures, code required modifications, electrical installation or reconfiguration, ceiling tiles (new or repainted), ceiling T-grids, securing tenant improvements for earthquake codes, installation of wood work or cabinetry, window blinds repair or replacement, general clean-up, and other items mutually agreed to by Tenant and Landlord, and any applicable sales taxes. In no event shall any of the Maximum Allowance allocation be utilized for furniture, furniture installation, demountable furniture partitions, and other moving costs. All of the furniture related costs are to be at the sole cost of Tenant and are not part of the Maximum Allowance allocation. Landlord shall utilize Landlord's tenant improvement contractor to perform the Tenant Improvement work on the Premises, except for telephone and/or networking cabling which shall be contracted by Tenant. Once the Tenant improvement work has been completed, and will remain upon should the total cost associated with the Tenant Improvements and other items permitted herein, total less than the Maximum Allowance amount, any savings in the total cost to improve the Premises without compensation to Tenant. However, Tenant, by written notice shall belong to Landlord, may remove, at Tenant. Tenant and Landlord agree that the Base Monthly Rent described in item above is based in part upon Landlord's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any obligation to pay for Tenant Improvements that were installed by up to an amount not to exceed the Maximum Allowance specified herein. If, In the event, the cost to install the Tenant that are Improvements, to which Landlord is obligated to pay and which Tenant and Landlord have mutually approved to include in such cost, is in excess of the Maximum Allowance, Tenant shall pay for all such costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property")directly. Once the Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were Improvements are substantially completed in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed areas where access is desired by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall even though other areas may not be unreasonably withheldsubstantially completed, prior to the Lease Commencement, Tenant may remain in enter the Premises space for up to five days after the Expiration Date for the sole purpose installation of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Leaseits fixturing, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation cabling or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord mayother furniture installations, to the fullest extent permitted such activities do not interfere with or delay the completion of Tenant Improvements directed by Law: (1) treat such TenantLandlord or it's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell contractors, agents, or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertyemployees.

Appears in 1 contract

Sources: Lease Agreement (Cellular Technical Services Co Inc)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, any or all of the following on or before the Expiration Date ’s sole cost and expense (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation Landlord’s obligations with respect to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will TI Allowance and in accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant Improvements as such costs become due, and Landlord shall reimburse Tenant (or pay directly to Tenant’s contractor) on a pari passu basis, in the proportion of Excess TI Costs payable by Tenant to the TI Allowance payable by Landlord. If the cost of the Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, Tenant shall promptly notify Landlord, and Landlord’s payment of the TI Allowance shall be designated on an adjusted pari passu basis based on the additional Excess TI Costs. All material and equipment furnished by Tenant or its contractors as Tenant's Removable Propertythe Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in a first-class, workmanlike manner; and the quality of the Tenant Improvements shall be of a nature and character not less than the Building Standard, as set forth in Exhibit B-2. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as to guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 16 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 16 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (PMV Pharmaceuticals, Inc.)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Tenant’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Premises installed TI Allowance) and in accordance with the Approved Plans (as defined below), the Amendment and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall advance to Landlord or any Excess TI Costs within ten (10) days after receipt of an invoice therefor, but in any case before Tenant (collectively, "commences the Tenant Improvements") will be owned . If the actual Excess TI Costs are less than the Excess TI Costs paid by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice Tenant to Landlord, may remove, at Tenant's expense, any or all Landlord shall promptly return such excess to Tenant following completion of the following on or before Tenant Improvements. If the Expiration Date (or earlier termination): (1) any cost of the Tenant Improvements that were installed (as projected by the Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant that are in excess of the costs associated and Tenant shall deposit any additional Excess TI Costs with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 17 of the Original Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 17 of the Original Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (Zosano Pharma Corp)

Tenant Improvements. All Landlord agrees to contribute an amount of money (the "Tenant Allowance") calculated at $0.40 per rentable square foot of the Expansion Space, multiplied by the number of months remaining in the Lease Term as of the Commencement Date for each individual suite therein. The Tenant Allowance shall be for the cost of constructing certain tenant improvements to (the Premises installed by Landlord or Tenant (collectively, "Tenant Improvements") will for the Expansion Space in accordance with the space plan (the "Plan") to be owned approved by both Landlord and Tenant within fifteen (15) days of the date of execution of this Agreement. It is understood and agreed that Landlord's contractors shall perform the work in connection with the Tenant Improvements. If the cost to construct the Tenant Improvements pursuant to the Plan exceeds the Tenant Allowance, then within ten (10) days of Tenant's receipt of an invoice from Landlord, Tenant shall pay Landlord, as additional rent, by certified or cashier's check, an amount equal to the difference between the cost to construct the Tenant Improvements and the Tenant Allowance. Tenant agrees it shall not make any changes to the Plan without obtaining the prior written consent of Landlord. In the event Tenant shall make changes to the Plan that are approved by Landlord and will remain upon which result in an additional cost to Landlord of completing the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectivelyTenant Allowance, "Tenant's Removable Property"). Tenant will be required shall pay to remove Landlord prior to construction of such changes, as additional rent, any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The increase in the cost of completing the Tenant will replace all Removed "Tenant Improvements" which were Improvements in "excess of standard" with leasehold improvements which would be considered STANDARDthe Tenant Allowance resulting from such changes in the Plan. In the event Tenant, its employees or agents, causes any delays or is otherwise responsible, in order whole or in part, for any additional costs in excess of the Tenant Allowance incurred by Landlord in constructing the Tenant Improvements (other than additional costs arising due to leave changes to the Premises Plan as described above), Tenant shall pay to Landlord within ten (10) business days of receipt of written notice from Landlord, as additional rent, any such additional costs in a reasonably leaseable/useable condition excess of the Tenant Allowance incurred by an office tenantLandlord. Tenant's Removable Property shall failure to timely pay any such amounts to be removed paid by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenantthis Article, at the time it requests approval for a proposed Alteration (defined and in Section 10.C.)the manner set forth in this Article, may request in writing that Landlord advise Tenant whether the Alteration or any portion shall be an event of the Alteration will be designated as Tenant's Removable Propertydefault.

Appears in 1 contract

Sources: Lease Agreement (Deltek Systems Corp)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before TI Allowance and the Expiration Date Test Fit Allowance) and in accordance with the Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements that were installed (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant Improvements on a pari passu basis with Landlord as such costs become due, in the same proportion that the Excess TI Costs payable by Tenant represent of the total cost of the Tenant Improvements. In other words, if the total cost of the Tenant Improvements is $100,000, and the Excess TI Costs are in excess $25,000, then the Excess TI Costs comprise 25% of the total cost of the Tenant Improvements, and therefore Tenant would pay 25% of the costs associated of the Tenant Improvements as they come due. If the cost of the Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection (the “Increased TI Costs”), then Landlord may notify Tenant and Tenant shall deposit with standard office improvements; Landlord, within ten (10) days after receipt of an invoice therefore, the portion of such Increased TI Costs that would have been required to be paid by Tenant had such Increased TI Costs been included in the initial determination of Excess Costs and Tenant had been required to pay the costs of the Tenant Improvements in the proportion that the Excess TI Costs and the Increased TI Costs, in the aggregate, represent of the total cost of the Tenant Improvements. Thereafter, the remaining balance of such Increased TI Costs shall be included as part of the Excess TI Costs to thereafter be paid by Tenant on a pad passu basis in accordance with this Section. In other words, if the Excess TI Costs originally comprised 25% of the total cost of the Tenant Improvements and subsequently Landlord notifies Tenant of Increased TI Costs that when combined with the original Excess TI Costs comprise 30% of the total cost of the Tenant Improvements, then Tenant shall pay the difference (2i.e. an additional five percent (5%) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will of the costs incurred to date) to Landlord and thereafter be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession pay 30% of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month costs of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable PropertyImprovements as they become due. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 17 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 17 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (Silverback Therapeutics, Inc.)

Tenant Improvements. All improvements If Tenant timely exercises the Option, Tenant may elect to perform the Work as to the Premises installed by Landlord Tenant Improvements on the 12th Floor and the Tenant Improvements on the 13th Floor at the same or different times so long as such Work may reasonably completed on or before the commencement date that is applicable to the Expansion Space on such Floor. The Tenant (collectively, "Tenant Improvements") Improvements will be owned designed and constructed as described in this Exhibit "D". Tenant and Landlord shall solicit bids for the Tenant Improvements from no less than three (3) but not more than five (5) general contractors as mutually approved by Tenant and Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, (which may remove, at Tenant's expense, any include some or all of the following general contractors listed in the definition of "Contractor" above). All subcontracted work (except for fire alarm, sprinkler work, Building automation system(s) connections, Building roof work and work associated with existing warranties) will be competitively bid by a minimum of three (3) qualified subcontractors in each trade of work. Tenant will have the right, but not the obligation, to attend contractor interviews, review or prepare the invitation to bid (with Landlord's reasonable approval), review the bid documents, and be present at the bid opening. Tenant and Landlord will mutually agree on the selection of the Contractor to be the general contractor for the Tenant Improvements. Upon selection of the Contractor, Landlord will enter into a construction contract with the Contractor to perform the Work and making advances to Contractor from the Improvement Allowance (unless Tenant elects to hire its own project manager to manage the construction, as outlined below, and in that case, Tenant will enter into a construction contract with the Contractor to perform the Work and make advances to Contractor. Tenant will submit invoices, check copies and lien releases for reimbursement from Improvement Allowance). Landlord shall not be liable for any defects in the Tenant Improvements, cost overruns by Contractor or before delays in the Expiration Date (or earlier termination): (1) any completion of the Tenant Improvements that were installed (other than to the extent caused by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"a Landlord Delay). Tenant will pay all costs of preparing the Space Plans, construction document preparation, negotiation of the construction contract with the Contractor, design, Plans and Specifications as well as all direct and indirect costs Landlord incurs in connection with the design and construction of the Tenant Improvements subject to the application of the Improvement Allowance. Such costs Landlord incurs may include, without limitation, all costs of general conditions, labor, materials, and other EXHIBIT D – TENANT IMPROVEMENTS AGREEMENT construction costs, the fees (on an hourly basis) of Contractor's project manager and site superintendent for the Tenant Improvements, and all costs incurred in connection with obtaining permits for the Tenant Improvements. For all purposes of ownership, including risk of loss thereto, the Tenant Improvements will immediately upon installation be required and remain a part of the Building and the property of Landlord (subject to remove any batteriesSection 15 (c) of the Lease). Tenant will notify Landlord in writing no later than November 15, generators2012, fuel tanks if Tenant elects to have Landlord's construction manager, ▇▇▇▇▇ Interests, manage the construction of the Tenant Improvements; it being understood that Tenant may determine to manage or hire its own project manager for the construction of the Tenant Improvements for the Expansion Space, in which event the fee described below shall be reduced to one percent (1%); and security systems agrees that such construction manager shall receive a fee for such services in an amount equal to three percent (not 3%) of the hard costs of construction. Such construction management services shall include, without limitation, the following: (a) preparing budgets and advising Tenant on costs and building conditions affecting cost and schedule; (b) reviewing Tenant's plans and specifications for comment and approval; (c) arrange for and attend contractor pre-construction interviews for selection of bidders; (d) in collaboration with Tenant's representative, receive/analyze/summarize contractors bids/proposals and make firm selection recommendation; (e) recommend cost and time saving adjustments to meet budget and schedule objectives, (f) attend weekly construction meetings and arrange for documenting progress; (g) coordinate Building access and operations with that of the Tenant Improvements and Tenant's contractors and vendors; (h) provide regular construction cost updates (construction cost summaries and accounting against the allowance, including interior wiringfinal accounting) installed by Tenantto Tenant including submitting and processing construction cost change orders to Tenant for approval; (i) arrange for preparation of schedules including regular updates; (j) identify Substantial Completion and provide for the timely identification and completion of punch list items; and (k) arrange for the delivery of close-out documentation including electronic as-built plans, certificate of occupancy, operation and maintenance manuals, warranties, final waivers and release of liens. The Contractor and Tenant shall have (i) the right to use existing communication conduit within and between the floors, (ii) access to the Building telecom risers and pathways (horizontal and vertical), conduits and cabling, (ii) the right to improve elevator lobbies, restrooms and stairwells on those floors of the Building in which the Tenant has leased the entire floor; (iii) the right to purchase and install Tenant's own cosmetic/decorative materials, including, but not limited to, floor coverings, paint and wall coverings; (iv) perform core drilling contemplated by the Plans and Specifications during periods other than Normal Business Hours, (v) where contemplated by the Plans and Specifications, add structural support to increase floor loading; (vi) the right to install Tenant's own security card system for access to the Premises (which security system may be installed in a manner that is compatible with the Building's security system so that Tenant's security card system will provide access to both the Building and the Premises); (vii) the right to secure the Building's stairwells on the floors in which Tenant has leased the entire floor, subject in all events to compliance with the Rules and Regulations and applicable Laws. With the exception of core drilling and excessive noise activities, construction of the Tenant Improvements will be conducted during Normal Business Hours. Access to the Building loading dock and vertical transportation shall be available to Contractor 24/7 at no additional cost. Contractor will coordinate with the Building's property manager to obtain reasonable access to floors contiguous to the Premises for the purpose of installing floor outlets, water lines, taps, drains, etc., to the Premises. Tenant shall also have the option to connect to the existing generator for back up emergency power in the capacity of 100 amps three phase 480 volts. Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" have the right, but not the obligation, to review and approve the construction contract with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consentContractor, which approval shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Propertyconditioned or delayed. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property.EXHIBIT D – TENANT IMPROVEMENTS AGREEMENT

Appears in 1 contract

Sources: Office Lease Agreement (FSP Galleria North Corp)

Tenant Improvements. All improvements a. Tenant hereby agrees to accept the Premises installed by in its “as-is” condition existing on the Commencement Date, subject to Landlord’s completion of “Improvements” defined in subsection (b) below. b. Landlord or Tenant shall construct improvements (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon for the Premises without compensation in accordance with the Work Letter Agreement attached hereto as Schedule 1. In connection thereto, Landlord hereby grants to TenantTenant an “Improvement Allowance” of up to One Hundred Thousand and No/100 Dollars ($100,000.00) which Improvement Allowance shall be used only for the items specified in the Cost Breakdown, as that term is defined in the Work Letter Agreement, and for telephone and data cabling and wiring in the Premises. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all In the event the total cost of construction of the following on or before Improvements exceeds the Expiration Date (or earlier termination): (1) any Improvement Allowance, Tenant Improvements that were installed by shall pay to Landlord the Tenant that are sum in excess of the costs associated with standard office improvements; and (2) TenantImprovement Allowance by cashier's personal property (collectivelycheck, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property payment shall be removed by made within five (5) days of Landlord's notice to Tenant before that Landlord is prepared to commence construction. In the Expiration Date or date event the actual cost of termination of this Lease, if earlier the Improvements is less than the Expiration DateImprovement Allowance, provided that upon Landlord's prior written consent, which the unused portion of the Improvement Allowance shall not be unreasonably withheldpaid or refunded to Tenant or be available to Tenant as a credit against any obligations of Tenant under the Lease. c. To the extent the Improvements are not substantially completed by the Commencement Date, Landlord shall permit Tenant may remain in to move into the Premises for up as of the Commencement Date provided Tenant agrees to five days pay any additional costs incurred by Landlord to complete the Improvements after the Expiration Commencement Date for the sole purpose of removing due to Tenant's Removable Property. Tenant's possession ’s occupancy of the Premises for during such purpose shall construction. Tenant hereby acknowledges that the Improvements may be subject to all terms and conditions of constructed in accordance with this Lease, including the obligation to pay Rent on a per diem basis at the rate Paragraph while Tenant is in effect for the last month occupancy of the TermPremises, and Landlord's actions in connection with such Improvements shall in no way constitute a constructive eviction of Tenant or entitle Tenant to any abatement of rent. Tenant shall repair damage Unless directly caused by the installation Landlord’s or removal of Landlord’s agents gross negligence or willful misconduct, Landlord shall have no responsibility or for any reason be liable to Tenant for any direct or indirect injury to or interference with Tenant's Removable Property. If business arising from the construction of the Improvements, nor shall Tenant fails be entitled to remove any of Tenant's Removable Property, compensation or damages from Landlord may, to the fullest extent permitted for any inconvenience or annoyance occasioned by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell construction or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth actions in the preceding sentenceconnection with such construction. Notwithstanding the foregoing, Landlord shall use commercially reasonable efforts to minimize unreasonable interference with Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion ’s use and occupancy of the Alteration will be designated as Tenant's Removable PropertyPremises during any such construction.

Appears in 1 contract

Sources: Lease Agreement (Rexahn Pharmaceuticals, Inc.)

Tenant Improvements. All improvements Seller shall be responsible for paying all tenant improvement costs and reimbursements payable under all Tenant Leases executed prior to the Premises installed Second Closing Date with respect to the Development Properties. In the case of tenant improvement work, tenant improvement allowances or other reimbursements to be paid or performed by Landlord or the landlord under any other Tenant Lease, the relevant Buyer shall be responsible for paying for and performing such work and paying such allowances and reimbursements after the Adjustment Time, and (collectively, "A) if the Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date Lease was executed (or earlier termination): (1the renewal, extension or additional space option requiring such work or reimbursement was exercised or executed) prior to the date of this Agreement, the relevant Buyer will receive a credit for the cost of performing such work after the Adjustment Time and the amount of any Tenant Improvements that were installed such reimbursements and allowances not paid by the Tenant that are in excess of relevant Seller prior to the costs associated with standard office improvementsAdjustment Time; and (2B) Tenant's personal property if the Tenant Lease was executed (collectivelyor the renewal, "Tenant's Removable Property"). Tenant extension or additional space option requiring such work or reimbursement was exercised or executed) on or after the date of this Agreement but prior to the Adjustment Time, the cost of performing such work (whether to be performed before or after the Adjustment Time) and such reimbursements and allowances will be required apportioned between the relevant Seller and the relevant Buyer, with the relevant Seller to remove any batteriesbe allocated the proportion of such costs, generatorsreimbursements and allowances that is equal to the proportion that the term of such Tenant Lease that is prior to the Adjustment Time bears to the entire term of such Tenant Lease, fuel tanks and security systems (not including interior wiring) installed by Tenantthe relevant Buyer to be allocated the remainder of such costs, reimbursements and allowances. The references to "term of such Tenant will replace all Removed "Tenant ImprovementsLease" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises immediately preceding sentence mean the term of such Tenant Lease that includes the Adjustment Time and commences on the latest to occur of: the first day of the original term of the Tenant Lease for up to five days after which fixed rent is payable and the Expiration Date first day of the latest renewal or extension of such Tenant Lease for which fixed rent is payable. The relevant Seller shall receive a credit for the sole purpose of removing Tenantamount by which the costs, reimbursements and allowances actually paid or to be paid by the relevant Seller exceed the relevant Seller's Removable Property. Tenant's possession apportioned share of the Premises total costs of performing such work (based on the relevant Seller's budgeted cost for such purpose work) and the total of such reimbursements and allowances. The relevant Buyers shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on receive a per diem basis at the rate in effect credit for the last month amount by which the relevant Seller's apportioned share of the Term. Tenant shall repair damage caused total costs of performing such work (based on the relevant Seller's budgeted cost for such work) and the total of such reimbursements and allowances exceeds the costs, reimbursements and allowances actually paid or to be paid by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertyrelevant Seller.

Appears in 1 contract

Sources: Asset Purchase Agreement (Weeks Corp)

Tenant Improvements. All Except as otherwise provided below and subject to the Tenant Allowance (as defined below), Landlord agrees to cause the construction of alterations, improvements and finish-out to the Premises installed by Landlord or Tenant for Tenant’s use (collectively, "the “Tenant Improvements") will be owned in accordance with Final Working Drawings and Specifications approved by Landlord and Tenant in the following manner. Landlord hereby acknowledges receipt and approval of Tenant’s preliminary plans and specifications for the Tenant Improvements which are annexed hereto as Exhibit “B- 1” (the “Preliminary Plans”). Within fifteen days from the Effective Date of this Amendment, Landlord will remain upon cause to be prepared by Landlord’s architect (the Premises without compensation “Architect”) and delivered to Tenant working drawings and specifications for the Tenant Improvements (the “Proposed Working Drawings”) which shall substantially conform to the Preliminary Plans and shall include reasonably detailed plans and specifications for the Tenant Improvements in form and content and containing sufficient information and detail to allow for competitive bidding or negotiated pricing by contractor(s) selected and engaged by Landlord. Within five (5) days following Tenant’s receipt of such Proposed Working Drawings from Landlord, Tenant will advise Landlord of any required revisions to the Proposed Working Drawings, provided however such required revisions shall not increase the Construction Costs, delay the Substantial Completion of the Tenant Improvements, or materially deviate from the Preliminary Plans (the “Requested Changes”). Within fifteen (15) days following receipt of the Requested Changes, Landlord shall deliver Tenant revised Proposed Working Drawings incorporating the Requested Changes. The Proposed Working Drawings as revised by the Requested Changes will constitute the “Final Working Drawings and Specifications.” Landlord will promptly begin construction of the Tenant Improvements described in the Final Working Drawings and Specifications and will pursue construction with reasonable diligence to completion. Tenant Improvement Allowance. Landlord agrees to provide up to, but not in excess of seventy eight thousand four hundred one and 00/100 Dollars 78,401 .00) (calculated at $14.45 per square foot of the Rentable Area of the Premises) for costs of constructing the Tenant Improvements (the “Tenant Allowance”). Any excess costs must be paid by Tenant. HoweverThe cost of constructing Tenant Improvements will include (a) costs of labor and materials, Tenant(b) fees and other charges payable to contractors, (c) fees to governmental authorities for permits, inspections, and certificates of occupancy, and (d) other third party out-of-pocket costs and expenses incurred by written notice Landlord that are directly related to Landlord, may remove, at Tenant's expense, any or all the preparation of the following on Final Working Drawings and Specifications or before the Expiration Date (construction of the Tenant Improvements. The Tenant Allowance shall not be utilized toward any of Tenant’s furniture, fixtures or earlier termination): (1) any equipment including cabling. Tenant must pay Landlord the estimated cost of constructing the Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and Tenant Allowance in full within ten (210) Tenant's personal property (collectively, "Tenant's Removable Property")days of receipt of such estimate in writing. Tenant will Any underpayment based on such estimate must be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement paid by Tenant to Landlord upon demand; and/or within fifteen (315) sell or dispose days alter delivery of such Tenant's Removable Property without delivering any proceeds Landlord’s invoice to Tenant. To Tenant reflecting the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion final accounting of the Alteration will be designated as Tenant's Removable PropertyConstruction Costs of the Tenant Improvements.

Appears in 1 contract

Sources: Lease Agreement (Argyle Security, Inc.)

Tenant Improvements. All improvements Prior to the Premises installed Commencement Date, Landlord shall, at its sole cost and expense (except as limited below), construct the improvements desired by Landlord or Tenant to complete the Building for Tenant's occupancy (collectively, the "Tenant Improvements") in accordance with the Drawings (as defined below). The cost of the Tenant Improvements shall be advanced by Landlord for the benefit of Tenant, to be repaid by Tenant in the form of Base Rent, but only to the extent that the aggregate cost of furnishing the Tenant Improvements does not exceed $18.00 per rentable square foot contained in the Premises (the "Tenant Improvement Allowance"). The Tenant Improvement Allowance shall be in addition to the Base Building (as defined below). The following items will be owned charged against the Tenant Improvement Allowance: (i) architectural, engineering, design and space planning work in preparation of the Drawings necessary to construct the Tenant Improvements, including all mechanical, structural, electrical, plumbing and fire sprinkler engineering required to develop Tenant Improvements or any modifications to the Base Building or Building Standard requested by Tenant and approved by Landlord to accommodate the Tenant Improvements; (ii) the total cost of the Tenant Improvements, (iii) a charge of five percent (5%) of the total costs and will remain upon expenses otherwise chargeable for the Premises without compensation Tenant Improvements for Landlord's construction management of the Tenant Improvements (which construction management fee is payable to Tenant. However, Tenant, by written notice Landlord in lieu of overhead or other administrative fees of Landlord itself and is exclusive of and in addition to Landlord, may remove, at the general contractor's overhead and profit); (iv) Tenant's expense, any moving costs; and (v) all other costs and expenses related to the design or all construction of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by (collectively, the "Tenant Improvements Cost"). Landlord shall keep accurate books and records related to the Tenant that are Improvements Cost. Except as provided in Paragraph 6 of this Exhibit "C" below, the Tenant Improvements Cost in excess of the costs associated with standard office improvements; and (2) Tenant Improvement Allowance shall be paid by Tenant prior to Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession occupancy of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable PropertyPremises.

Appears in 1 contract

Sources: Lease Agreement (Eloyalty Corp)

Tenant Improvements. A. Lessor is providing the existing base building (pursuant to the schedule of base building plan attached hereto as Exhibit "F") and a tenant improvement allowance of $30.00 per usable square foot (the "Tenant Improvement Allowance") for the tenant improvements to be constructed by Lessor at the Premises. All improvements to the Premises installed by Landlord or Tenant (collectively, existing base building will be so-called "Tenant Improvements") will " to be owned installed by Landlord Lessor but to be selected by Lessee as hereinafter provided and will remain upon paid for by Lessee subject to Lessor providing an allowance in the Premises without compensation to Tenantaforesaid amount. HoweverIncluded within the Tenant Improvement Allowance shall be all costs for space planning, Tenantconstruction document preparation, by written notice to Landlord, may remove, at Tenant's expense, any or design work and construction drawing work and all costs of obtaining permits. In the following on or before the Expiration Date (or earlier termination): (1) event Lessee desires any Tenant Improvements that were installed by the Tenant that are having a price in excess of the costs associated Tenant Improvement Allowance, Lessee shall pay Lessor in cash for such excess amount or, at Lessee's option, such excess amount (up to $7.00 per rentable square foot of the Premises) may be paid by Tenant in equal monthly installments over the Initial Term, with standard office improvements; an annual interest rate thereon of nine percent (9%), in which case, such excess amount shall be deemed to be included in the Tenant Improvement Allowance. If Lessee requests a higher grade or quality of any component of the Tenant Improvements (if any) otherwise provided by Lessor pursuant to the plans and (2) Tenant's personal property (collectivelyspecifications of Exhibit "F", "Tenant's Removable Property"). Tenant Lessor will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenantallow a credit for the cost of the component replaced. The balance of the amount by which the cost of the Tenant will replace all Removed "Improvements exceeds the Tenant Improvement Allowance shall be paid for in cash by Lessee to Lessor upon substantial completion of the Tenant Improvements" . In the event the actual cost of the Tenant Improvements is less than the Tenant Improvement Allowance (without regard to the $7.00 per rentable square foot additional amount), the difference between the actual cost of such Tenant Improvements and the Tenant Improvement Allowance shall be available to Lessee as a credit against Base Rent due from Lessee to Lessor. Opus West Construction Corporation shall be the general contractor for all Tenant Improvement work. All major subcontracts shall be competitively bid. B. On or before June 17, 1998, Lessee shall provide to Lessor a space plan for the Tenant Improvements to be constructed by Lessor, which were space plan shall have received final approval of Lessee and which shall be adequate for preparation by Lessor of working drawings for construction of such Tenant Improvements. Such space plan shall show in "excess reasonable detail the design and appearance of standard" the tenant finishing materials to be used in the construction thereof, and such other detail or description as may be necessary to adequately outline the scope of the Tenant Improvements. If Lessee shall provide Lessor with leasehold improvements Lessee's space plan after June 17, 1998, then the Target Commencement Date (April Scottsdale Northsight/JDA Software 04/26/98: 531637.1827-0801 Exhibit C 1, 1999) shall be automatically extended day-for-day for each day of delay after June 17, 1998. ▇. ▇▇▇▇▇▇'▇ architect (which shall be selected by Lessee from the list of architects already approved by Lessor) shall prepare the final working drawings and specifications for the construction and installation of the Tenant Improvements. Lessee shall approve or disapprove the final working drawings and specifications within ten working days after receipt of same, and if Lessee fails to approve or disapprove same within such ten working day period, Lessee shall be deemed to have approved the final working drawings and specifications. Lessee agrees that it will not withhold its approval except for just and reasonable cause and will not act in an arbitrary or capricious manner with respect to the approval of the final working drawings and specifications. Lessor's architect shall review and seal said plans and submit the plans for permits and construction bids. D. Subject to the provisions of Article XXXVII.G., below, if Lessee desires to make revisions to the final working drawings and specifications once they have been approved, Lessee shall request that Lessor's architect prepare, and submit to Lessor for approval, proposed working drawings and specifications containing all such desired revisions. Upon approval by Lessor of any revisions, Lessor shall obtain promptly from its contractor the amount of any adjustment in the Tenant Improvement costs resulting from such revisions and the amount of any delay that would result from constructing such proposed revisions, and Lessor shall submit the amount thereof and the contemplated delay caused thereby to Lessee for Lessee's approval. Lessee shall approve or disapprove the amount of such adjustment and the delay caused thereby within two working days after submission thereof to Lessee by Lessor, and if Lessee fails to notify Lessor of its disapproval within such two working day period, Lessee shall be considered STANDARDdeemed to have given Lessee's approval thereto. If Lessee disapproves either the amount of such adjustment or the delay resulting therefrom, then such proposed revision shall be deemed withdrawn by Lessee and Lessor shall have no obligation to cause the construction of such revision. Once any adjustment and the resulting delay have been approved, Lessee shall be deemed to have given full authorization to Lessor to proceed with the work of constructing and installing the Tenant Improvements in order accordance with the final working drawings and specifications, as revised. ▇. ▇▇▇▇▇▇ shall use its best faith efforts to leave cause the construction of the Office Complex, the Premises or the Tenant Improvements to be substantially completed, subject only to completion of punchlist items, on or before fifteen (15) days prior to the Target Commencement Date; provided, however, that if any delay is caused or contributed to by Lessee (which shall include delays described above relating to the failure of Lessee to submit the required plans by June 17, 1998 or to respond timely to approve the final working drawings and specifications and shall also include any delays caused by any Lessee-proposed revisions to the final working drawings and specifications), or in a reasonably leaseable/useable condition the event performance by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consentLessor is delayed due to force majeure, which shall include, without limitation, act or neglect of Lessee or those acting for or under Lessee ("Lessee Delay"), labor disputes, casualties, acts of God or the public enemy, governmental embargo restrictions, shortages of fuel, labor or building materials, action or nonaction of public utilities, or of local, state or federal governments affecting the Tenant Improvements or other causes beyond Lessor's reasonable control), then the Target Commencement Date shall be automatically extended day-for-day for each day of any such delay. F. The price charged by Lessor to Lessee for the Tenant Improvements shall be all direct and indirect costs thereof plus three percent (3%) as a development fee, five percent (5%) for Lessor's overhead and profit and five percent (5%) as a fixed-fee Scottsdale Northsight/JDA Software 04/26/98: 531637.1827-0801 Exhibit C general conditions cost, in connection with the construction of the Tenant Improvements. Lessee shall be responsible for Lessor's costs (including lost rent) arising out of delays in completing the Tenant Improvements caused by Lessee. Lessee also agrees to refrain from ordering long lead time items which would delay substantial completion of the Tenant Improvements. For purposes of this Article, "long lead time items" shall mean items required to complete the Tenant Improvements that may delay substantial completion beyond the date which is fifteen (15) days prior to the Target Commencement Date due to causes such as an extended length of time necessary for the supplier of the item to manufacture same or due to a lengthy shipping time. Lessor shall give notice to Lessee as soon as practicable, to identify any items constituting "long lead time items." G. From time to time, Lessee may request reasonable modifications of the plans and specifications of the final working drawings for the Tenant Improvements, or to the plans and specifications set forth on Exhibit "F" attached hereto. Lessor reserves the right to reject such request if the request requires a substantial modification of the structural aspects or primary systems of the Building, a substantial delay in the completion of the construction, or a substantial increase in the costs of construction. As soon as reasonably possible after receipt of such request (if not rejected for the foregoing reasons), Lessor shall prepare a change order which shall describe the modification requested and the additional costs and delays, if any, which shall result and the time period for Lessee to review and accept the change order. Further, Lessor shall be entitled to propose, as a condition to Lessor's agreement to the change order, a modification of the provisions of Article IV, so that as a result of the delays anticipated to be caused by the change order, Lessor's liability for the Reimbursement Obligation shall not be unreasonably withheldincreased. If Lessee accepts the change order (and by implication, Tenant may remain in all modifications to the Premises for up Lease required, as proposed by Lessor and necessitated thereby), then Lessor shall diligently proceed to five days after construct the Expiration Date for the sole purpose proposed change order improvements. Lessee shall pay any such costs upon demand by Lessor and completion of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Leasechange order improvements, including the obligation to pay Rent on a per diem basis at the rate fees and charges allowed in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable PropertyArticle XXXVII.F., Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertyabove.

Appears in 1 contract

Sources: Office Lease (Jda Software Group Inc)

Tenant Improvements. All improvements obligations to pay the Premises installed by Landlord cost of any tenant improvement work owed or Tenant (collectively, "Tenant Improvements") will to be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all owed in connection with new leases of the following on Building executed after the date hereof or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed result of the renewal of the Lease, the extension of the term of the Lease, the expansion of the premises demised by the Tenant that are in excess Lease to space within the Building or the exercise of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required an option to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain lease additional space in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs Building set forth in the preceding sentenceLease occurring after the date hereof, which costs shall include, but not be limited to, all sums expended by Highwoods for such tenant improvement work (including all overhead costs incurred by Highwoods or its affiliates in connection with the performance of the work related to such tenant improvements not to exceed five percent (5%) of the cost of such tenant improvements) and a profit not to exceed ten percent (10%) of the cost of such tenant improvements shall be assumed and paid by the Distributees on the Closing Date by reimbursing Highwoods for the costs of such tenant improvements previously paid by Highwoods in connection with new leases, renewals, extensions, relocations, expansions, or the exercise of an option to lease additional space in the Building occurring after the date hereof or if the cost of such tenant improvements are not yet due and payable by paying the same when they otherwise become due without an adjustment to the value of the capital interest of the Distributees in Highwoods to be reduced as a result of this transaction. Notwithstanding the foregoing, Tenant, at to the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or extent any portion of the Alteration term of a Lease, and renewals, extensions, expansions and relocations for which any tenant improvement work occurs prior to the Closing Date, the amount of the value of the capital interest of the Distributees in Highwoods to be reduced as a result of this transaction will be designated reduced by a pro rata share of such tenant improvement work based upon the percentage of such term (exclusive of any renewal options) which occurs prior the Closing Date. If any tenant improvement work is in process on the Closing Date, Highwoods shall be responsible for completing the construction thereof, provided, the Distributees shall be responsible for the costs thereof as Tenant's Removable Propertyset forth above.

Appears in 1 contract

Sources: Partnership Agreement (Highwoods Properties Inc)

Tenant Improvements. All The Premises are being provided by the Landlord in their current as-is condition together with, but not necessarily limited to, all existing demising and interior partitions, doors, frames and hardware, ceilings, electrical fixtures and distribution wiring, HVAC distribution systems and controls, sprinkler systems, fire alarm systems and controls exit lighting, interior finishes, built-in millwork, and any and all other improvements located therein. The Landlord shall provide the Tenant with all necessary Working Drawings, permits, demolition, general, mechanical, electrical and plumbing construction and interior finishes (the "TENANT IMPROVEMENTS") to construct, modify, alter or otherwise improve and prepare that portion of the Premises shown on EXHIBIT A as the area of construction in accordance with the final Working Drawings as described in PARAGRAPH 27.01, provided however the Landlord's obligation for the cost of said Tenant Improvements shall not exceed SIXTY THREE THOUSAND SIX HUNDRED NINETY AND 00/100 dollars ($63,690.00) (the "TENANT IMPROVEMENT ALLOWANCE"). The cost of the Tenant Improvements shall be determined by the Landlord after mutual agreement by the Landlord and the Tenant of the Working Drawings and prior to the Premises installed commencement of any work or construction by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to TenantLandlord. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all In the event the cost of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed exceed the Landlord's obligation as herein described, or in the event the actual cost to construct the Tenant Improvements exceed the Landlord's obligation due to changes requested by the Tenant that are to the final Working Drawings, then, in such event, the Tenant shall be responsible for the additional cost in excess of the costs associated with standard office improvements; Landlord's obligation and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "shall reimburse the Landlord for such excess immediately upon completion of the Tenant Improvements" which were in ". Any excess of standard" with leasehold improvements which would cost due from the Tenant shall be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property as Additional Rent and shall be removed by Tenant before due and payable upon the Expiration Date or date first installment of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be Rent and subject to all provisions, terms and conditions of this LeaseRent and Additional Rent as herein provided. In the event the cost of Tenant Improvements exceeds the Landlord's obligation and the Tenant disputes the Landlord's cost estimate of the Tenant Improvements, including the obligation or refuses to pay Rent on a per diem basis at the rate excess cost, or requires the Landlord to redesign, modify, or otherwise change the final Working Drawings in effect for an effort to reduce cost, or requests the last month Landlord to obtain additional cost estimates of the Term. Tenant Improvements, the Landlord may do so, however, such redesigning, modifications or changes shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, be considered a delay to the fullest extent permitted Landlord as provided in SECTION 27.01 and the Commencement Date of the Term of this Lease shall not be delayed by Law: such action. Notwithstanding anything to the contrary contained herein this PARAGRAPH 39.01, in the event the cost of the Tenant Improvements exceeds NINETY THOUSAND AND 00/100 DOLLARS ($90,000.00), the Landlord shall increase the Tenant Improvement Allowance up to a maximum increase of TEN THOUSAND AND 00/100 DOLLARS ($10,000.00) and such increase amount shall be amortized over the term of this Lease at an annual rate of 9.5% and the monthly amortized amount shall be added to the monthly Rent amounts stipulated in PARAGRAPH 53.01-1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership , however in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To no event shall the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in total contribution towards the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration cost of Tenant Improvements exceed SEVENTY THREE THOUSAND SIX HUNDRED NINETY AND 00/100 DOLLARS (defined in Section 10.C.$73,690.00), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property.

Appears in 1 contract

Sources: Lease Agreement (Neomedia Technologies Inc)

Tenant Improvements. All improvements Tenant desires to perform certain leasehold improvement work in the Premises (the “Tenant’s Work”). Prior to the Premises installed commencement of Tenant’s Work, Tenant shall furnish to Landlord such additional plans, drawings, specifications and finish details as Landlord may reasonably request. All plans, drawings, specifications and other details describing the Tenant’s Work which have been or are hereafter furnished by or on behalf of Tenant shall be subject to Landlord’s approval, which Landlord agrees shall not be unreasonably withheld. Landlord shall not be deemed to have acted unreasonably if it withholds its approval of any plans, specifications, drawings or other details or of Tenant’s Work because, in Landlord’s reasonable opinion, the Tenant’s Work: (a) is likely to adversely affect Building systems, the structure of the Building or the safety of the Building and/or its occupants; (b) might impair Landlord’s ability to furnish services to Tenant unless Landlord notifies Tenant of such possible impairment and Tenant agrees to modify the Lease accordingly (c) would increase the cost of operating the Building, unless Tenant otherwise agrees to be responsible for such increased costs; (d) would violate any governmental laws, rules or ordinances (or reasonable interpretations thereof); (e) contains or uses Hazardous Materials; (f) would adversely affect the exterior appearance of the Building; or (g) is prohibited by any ground lease affecting the Building or any mortgage, trust deed or other instrument encumbering the Building. The foregoing reasons, however, shall not be the only reasons for which Landlord may withhold its approval, whether or not such other reasons are similar or dissimilar to the foregoing. Landlord shall not impose any construction management fee on the Tenant Work, however, Landlord reserves the right to charge Tenant for the reasonable costs incurred by Landlord or Tenant (collectivelyfor review of Tenant’s plans, "Tenant Improvements") will be owned by Landlord drawings, specifications and will remain upon the Premises without compensation to Tenant. Howeverfinish details, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all inspection of the following on or before the Expiration Date Tenant Work and travel costs for such inspections (or earlier termination): (1) any Landlord’s costs), up to a maximum of $5,000. Landlord shall provide Tenant Improvements that were installed by the Tenant that are in excess with detailed invoices and copies of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property")applicable invoices for Landlord’s Costs. Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Leaseentitled to competitively bid Tenant’s Work with at least three contractors, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, acceptable to Landlord (which approval shall not be unreasonably withheld, Tenant may remain in delayed or conditioned), and after Tenant’s selection of the Premises for up contractor to five days after the Expiration Date enter into a contract with such bidder for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the TermTenant Work. Tenant shall repair damage caused be permitted to core drill within the Building, with Landlord’s approval, which approval shall not be unreasonably withheld, delayed or conditioned. Tenant hereby represents and warrants that once the Tenant’s Work has begun, Tenant will complete the same. The Tenant’s Work shall be performed in a good and workmanlike manner and Tenant shall keep the Premises free and clear of all materialmen’s or mechanic’s liens in connection with any such work by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To Tenant shall maintain worker’s compensation insurance for the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertywork being performed.

Appears in 1 contract

Sources: Lease (Wells Real Estate Fund v L P)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Tenant’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to the Premises installed TI Allowance) and in accordance with the Approved Plans (as defined below), the Amended Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall advance to Landlord or any Excess TI Costs within ten (10) days after receipt of an invoice therefor, but in any case before Tenant (collectively, "commences the Tenant Improvements") will be owned . If the actual Excess TI Costs are less than the Excess TI Costs paid by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice Tenant to Landlord, may remove, at Tenant's expense, any or all Landlord shall return such excess to Tenant as provided in Section 6.1 below. If the cost of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed (as projected by the Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant that are in excess of the costs associated and Tenant shall deposit any additional Excess TI Costs with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Amended Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be of a quality equal to the building standard; the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the building standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Section 10.05 of the Lease; provided that, notwithstanding anything in the Amended Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Section 10.05 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (Metabolix, Inc.)

Tenant Improvements. All improvements Landlord shall provide Tenant with a onetime tenant improvement allowance in the amount of $17,646.00 ($2.00 per square foot) (the “Allowance”) for the costs relating to the Premises installed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all construction of the following Tenant Improvement Work, as hereinafter defined. Landlord shall perform the improvements shown on or before the Expiration Date space plan prepared by ▇▇▇▇ ▇▇▇▇▇ Associates dated August 7, 2014, attached hereto as Exhibit “B” (or earlier termination): (1) any the “Tenant Improvements that were installed by Improvement Work”), which shall be completed in accordance with the Standard Tenant Finish Specifications attached hereto as Exhibit “C”. The current estimate for the Tenant that are in excess of Improvement Work is Forty Thousand Three Hundred Forty-Two and No/100 Dollars ($40,342.00) (the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"“Total Projected Cost”). Tenant shall fund the cost of any Tenant Improvement Work that exceeds the Allowance. Tenant shall pay to Landlord at execution of the Amendment the estimated overage of the Tenant Improvement Work equal to the Total Projected Cost less the Allowance, which is currently estimated to be Twenty-Two Thousand Six Hundred Ninety-Six and No/100 Dollars ($22,696.00) (the “Estimated Tenant Overage”). Landlord and Tenant agree, that upon determination of the actual costs of the Tenant Improvement Work, the unused portion of the Estimated Tenant Overage collected from Tenant, if any, will either be required returned to remove Tenant or applied towards Tenant’s Base Rent obligation within thirty (30) days. In the event, the Tenant Improvement Work exceeds the Estimated Tenant Overage, Tenant shall have thirty (30) days after receipt of invoice from Landlord to pay to Landlord the balance due for any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenantcost of the Tenant Improvement Work that exceeded the Total Projected Cost. The Tenant will replace all Removed "Improvement Work shall begin after execution of the Amendment by both Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property and Landlord and shall be removed by Tenant before completed per a mutually agreeable schedule. ▇▇▇▇▇▇▇▇ Construction Services shall be the Expiration Date or date of termination of this LeaseGeneral Contractor for all construction, if earlier than and ▇▇▇▇▇▇▇▇ Development Company will oversee the Expiration Dateconstruction process. Except as expressly modified hereby, provided that upon Landlord's prior written consent, which the Lease shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms full force and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Propertyeffect, Landlord may, to and Tenant ratifying and affirming the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertysame.

Appears in 1 contract

Sources: Lease Agreement (Clearside Biomedical, Inc.)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Landlord’s contractor in substantial accordance with the Approved Plans (as defined below), the Lease and this Work Letter at Landlord’s sole cost and expense with respect to the Premises installed by Landlord or Tenant improvements shown and described in the Approved Plans, except that the Add Alternate (collectively, "Tenant Improvements"defined below) will shall be owned by Landlord at Tenant’s sole cost and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice expense (subject to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated ’s obligations with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required respect to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will Additional TI Allowance if properly requested by Tenant pursuant to the terms of the Lease ). Costs payable by Tenant hereunder, including costs of the Add Alternate, Tenant-requested Changes (defined below) and a construction management fee payable to Landlord in an amount of 2% of the cost of any Tenant-requested Charges are collectively the “Tenant’s Costs”. If there are Tenant’s Costs, Tenant shall advance to Landlord any such Tenant’s Costs within ten (10) business days after receipt of an invoice therefor, but in any case before Landlord commences the Tenant Improvements. If Landlord is delayed in commencing the Tenant Improvements due to Tenant’s failure to timely pay the Tenant’s Costs to Landlord, Landlord shall be designated as Tenant's Removable Property.entitled to a day-for-day extension to achieve Substantial Completion

Appears in 1 contract

Sources: Lease (Spark Therapeutics, Inc.)

Tenant Improvements. All Unless specified otherwise herein, Tenant shall bear and pay the cost of the Tenant Improvements (which cost shall include, without limitation, the costs of construction as provided for in the Tenant Improvement Contractor’s contract, the cost of permits, and all architectural, design, space planning, and engineering services obtained by Tenant in connection with Tenant Improvements, office improvements, wiring and cabling costs, and cubicle costs; provided that, so long as Tenant is not in monetary or material non-monetary default under the Lease or this Work Letter, Landlord shall contribute a maximum of $65 per rentable square foot, for an aggregate maximum of $13,314,4051 (the “Tenant Improvement Allowance”), but in no event more than $65 per square foot of the applicable space under construction, which shall be utilized only for building improvements to the Premises installed Building (but a portion thereof up to a maximum of $5 per rentable square foot may be used for building improvements to the portion of the Common Areas described in Paragraph 2(c) of the Lease), and for any related costs, including but not limited to design, engineering, construction, furniture and equipment appurtenant to the Leased Premises, cabling, project management fees, moving expenses, and signage, and shall be available to Tenant only until the date which is twelve (12) months after the Lease Commencement Date (the “TI Allowance Deadline”), after which Landlord shall have no further obligation to provide any portion of the Tenant Improvement Allowance. Landlord shall have no obligation to make disbursements of the Tenant Improvement Allowance at any time that Landlord has delivered written notice of a monetary or material non-monetary default under the Lease or this Work Letter by Landlord or Tenant (collectivelyuntil such default has been cured. Subject to such TI Allowance Deadline, "Tenant Improvements") will be owned by Landlord and will remain based 1 Based upon the Leased Premises without compensation containing 204,837 rentable square feet of space, and subject to Tenantmeasurement and adjustment as described in the “Leased Premises” definition in Article 1 of the Lease. HoweverBuilding D upon applications for payment prepared, Tenantcertified and submitted by Tenant as described below, by written notice Landlord shall make progress payments from the Tenant Improvement Allowance to Tenant in accordance with the provisions of this Paragraph 3 (but in no event more than $65 per square foot for the applicable space under construction), as follows: (i) Not later than the 25th day of each month Tenant shall submit applications for payment to Landlord in a form reasonably acceptable to Landlord, may removeincluding Tenant Improvement Contractor’s Application and Certification for Payment AIA G702 certified by Tenant Improvement Architect, at certified as correct by an officer of Tenant and by Tenant's expense’s architect, any or all for payment of that portion of the following on cost of the Tenant Improvements allocable to labor, materials and equipment incorporated in the Building or Common Areas during the period from the first day of the same month projected through the last day of the month. Each application for payment shall set forth such information and shall be accompanied by such supporting documentation as shall be reasonably requested by Landlord, including the following: (A) Invoices and canceled checks. (B) Fully executed conditional lien releases in the form prescribed by law from the Tenant Improvement Contractor and all subcontractors and suppliers furnishing labor or materials during such period and fully executed unconditional lien releases from all such entities covering the prior payment period. (C) Tenant Improvement Contractor’s worksheets showing percentages of completion. (D) Tenant Improvement Contractor’s certification as follows: “There are no known mechanics’ or materialmen’s liens outstanding at the date of this application for payment, all due and payable bills with respect to the Building have been paid to date or shall be paid from the proceeds of this application for payment, and there is no known basis for the filing of any mechanics’ or materialmen’s liens against the Building or the Property, and, to the best of our knowledge, waivers from all subcontractors are valid and constitute an effective waiver of lien under applicable law to the extent of payments that have been made or shall be made concurrently herewith.” (ii) On or before the Expiration Date (15th day following submission of the application for payment, so long as Tenant is not in default under the terms of this Work Letter or earlier termination): (1) any Tenant Improvements that were installed the Leases, Landlord shall pay a share of such payment determined by multiplying the amount of such payment by a fraction, the numerator of which is the amount of the Tenant Improvement Allowance, and the denominator of which is the sum of (i) estimated construction cost of all Tenant Improvement work and materials for the entire Leased Premises and Common Areas, and (ii) the estimated cost of all professional services, fees and permits in connection therewith. Tenant shall pay the balance of such payment, provided that are at such time as Landlord has paid the entire Tenant Improvement Allowance on account of such Tenant Improvement work, all ▇▇▇▇▇▇▇▇ shall be paid entirely by Tenant; provided, however, that Landlord shall have no obligation to make disbursements of the Tenant Improvement Allowance at any time that Landlord has delivered written notice of a monetary or material non-monetary default under the Lease or this Work Letter by Tenant until such default has been cured. If upon completion of the Tenant Improvement Work and payment in full to the Tenant Improvement Contractor, the architect and engineer, and payment in full of all fees and permits, the portion of the cost of the Tenant Improvement Work, architects’ and engineers’ fees, permits and fees theretofore paid by Landlord is less than the Tenant Improvement Allowance, Landlord shall reimburse Tenant for costs expended by Tenant for Tenant Improvement work up to the amount by which the Tenant Improvement Allowance exceeds the portion of such cost theretofore paid by Landlord. Landlord shall have no obligation to advance the Tenant Improvement Allowance to the extent it exceeds the total cost of the Tenant Improvement Work. In no event shall Landlord have any responsibility for the cost of the Tenant Improvement Work in excess of the costs associated Improvement Allowance. Landlord shall have no obligation to make any payments to Tenant Improvement Contractor’s material suppliers or subcontractors or to determine whether amounts due them from Tenant Improvement Contractor in connection with standard office improvements; and (2) Tenant's personal property (collectivelythe Tenant Improvement work have, "Tenant's Removable Property"). Tenant will be required to remove any batteriesin fact, generators, fuel tanks and security systems (not including interior wiring) installed by Tenantbeen paid. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which foregoing shall not be unreasonably withheld, read to prevent Tenant may remain in from curing the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms applicable default and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, then being entitled to the fullest extent permitted by Law: (1) treat applicable disbursement once the default is cured if such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To cure is completed within the fullest extent permitted by applicable Lawcure period, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs if any, expressly set forth in this Work Letter or the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable PropertyLease.

Appears in 1 contract

Sources: Lease Agreement (Aruba Networks, Inc.)

Tenant Improvements. All improvements to Tenant shall construct, furnish or install all improvements, equipment or fixtures, that are necessary for Tenant’s use and occupancy of the entirety of the Leased Premises installed by Landlord or Tenant (collectively, "the “Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant”). However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all Tenant shall complete construction of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by for the entirety of the Leased Premises. Tenant shall also be responsible for the cost of any alterations to the Building required as a result of the Tenant that are in excess Improvements (but only if required as a result of the costs associated with standard office improvements; Tenant Improvements and (2) Tenant's personal property (collectively, "Tenant's Removable Property"not if they would have been required notwithstanding the Tenant Improvements). Tenant will engage a consultant reasonably approved by Landlord (who may be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed employed by Tenant’s Contractor or Architect) to manage the design and construction of the Tenant Improvements (“Tenant Improvement Project Manager”). The Landlord hereby approves ▇▇▇ ▇▇▇▇▇▇, Tenant’s employee in charge of facilities, as the Tenant will replace Improvement Project Manager. Tenant shall cause all Removed "drawings and specifications for the Tenant Improvements" which were in "excess of standard" with leasehold improvements which would Improvements to be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition prepared by an office tenant. Tenant's Removable Property shall be removed architect selected by Tenant before the Expiration Date or date of termination of this Leaseand reasonably approved by Landlord (“Tenant Improvement Architect”) and to be constructed by a general contractor licensed in California, if earlier than the Expiration Dateselected by Tenant, provided that upon and reasonably approved by Landlord (“Tenant Improvement Contractor”). Landlord's ’s prior written consent, which shall not be unreasonably withheld, shall be required if Tenant may remain in the Premises for up desires to five days after the Expiration Date for the sole purpose change its Tenant Improvement Architect, Tenant Improvement Contractor or Tenant Improvement Project Manager. Landlord approves of removing Tenant's Removable Property. Tenant's possession any and/or all of the Premises for such purpose shall be subject to following as a Tenant Improvement Architect: DES, DGA and/or Gensler; and Landlord approves of any and/or all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Termfollowing as a Tenant Improvement Contractor: Landmark Builders, and/or South Bay Construction. Tenant shall repair damage caused by furnish to Landlord a copy of the installation or removal executed contracts between Tenant and Tenant Improvement Architect, and Tenant and Tenant Improvement Contractor, covering all of Tenant's Removable Property’s obligations under this Work Letter. The Tenant Improvements shall be in conformity with drawings and specifications submitted to and approved by Landlord, which approval shall not be unreasonably withheld or delayed, and shall be performed in accordance with the following provisions: Tenant Improvement Space Plans: Tenant shall prepare and submit to Landlord for its approval Tenant Improvement space plans (the “Tenant Improvement Space Plans”). Within five (5) business days after receipt of Tenant’s drawings Landlord shall return one set of prints thereof with Landlord’s approval and/or suggested modifications noted thereon. Landlord shall not object to improvements that are consistent with the space plan attached hereto as Exhibit B-1 and the description of improvements attached hereto as Exhibit B-2. If Landlord has approved Tenant’s drawings subject to modifications, such modifications shall be deemed to be acceptable to and approved by Tenant fails unless Tenant shall prepare and resubmit revised drawings for further consideration by Landlord. If Landlord has suggested modifications without approving Tenant’s drawings Tenant shall prepare and resubmit revised drawings within five (5) business days (subject to remove any the availability of the Tenant Improvement Architect) for consideration by Landlord. All revised drawings shall be submitted, with changes highlighted, to Landlord within five (5) business days following Landlord’s return to Tenant of the drawings originally submitted (subject to the availability of the Tenant Improvement Architect), and Landlord shall approve or disapprove such revised drawings within five (5) business days following receipt of the same. Landlord shall be provided with a copy of Tenant's Removable Property, Landlord may, ’s preliminary floor plan and associated CAD files as a condition to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertyreceiving reimbursement.

Appears in 1 contract

Sources: Sublease Agreement (Guardant Health, Inc.)

Tenant Improvements. All improvements to the Premises installed Extension Term Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before Extension Term TI Allowance) and in accordance with the Expiration Date Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Extension Term Tenant Improvements that were installed (as projected by Landlord) exceeds the Extension Term TI Allowance (such excess, the “Excess TI Costs”), Tenant that are in excess shall pay the costs of the Extension Term Tenant Improvements on a pari passu basis with Landlord as such costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARDbecome due, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed proportion of Excess TI Costs payable by Tenant before to the Expiration Date or date Extension Term TI Allowance payable by Landlord. If the cost of termination of this Leasethe Extension Term Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which then Landlord may notify Tenant and Tenant shall not be unreasonably withheld, Tenant may remain pay any additional Excess TI Costs in the Premises for up to five days after same way that Tenant pays the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Extension Term Tenant Improvements shall be new or “like new;” the Extension Term Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Extension Term Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Extension Term Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Extension Term Tenant Improvements shall be performed in accordance with Article 17 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 17 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease (Momenta Pharmaceuticals Inc)

Tenant Improvements. All (a) Prior to making any initial improvements to any portion of the Demised Premises installed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by ), Tenant shall give Landlord notice of its intentions and will remain upon submit plans and specifications of the Premises without compensation to Tenant. However, Tenant, by written notice proposed Tenant Improvements to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consentfor approval, which approval shall not be unreasonably withheldwithheld or delayed. Landlord acknowledges that the Tenant Improvements may include the following work: . Upgraded cafeteria. . Relocation of demonstration room and training room. . Exercise room with shower. . Relocation of existing and/or construction of new laboratories. . Enlarge third floor computer room, Tenant including additional air conditioning and installation of condenser(s) on roof. . Installation of a new card reader security system, separate from the current Andataco system, including electrical and low voltage wiring. This may remain include expansion of the current system in the manufacturing area of the first floor of the Demised Premises. Landlord's approval shall be deemed given if Landlord does not respond to Tenant's request for approval within fifteen (15) days from the receipt of such request. In the event that Landlord withholds approval for the proposed Tenant Improvements, Landlord shall state in writing its reasons in sufficient detail to permit Tenant to modify its plans in order to receive approval. (b) At the time Landlord grants or is deemed to grant approval of any Tenant Improvements, Landlord shall inform Tenant of any of the Tenant Improvements that would (i) materially diminish the value of the Demised Premises for up to five days after the Expiration Date use by a tenant for the sole purpose of removing Permitted Uses or (ii) require unusual expenses to readapt the Demand Premises for use by a tenant for the Permitted Uses or (iii) would be unique to Tenant's Removable Property. particular business operations (except for the air handlers in Tenant's possession of the Premises for such purpose shall computer rooms), and must be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis removed at the rate in effect for the last month end of the Term. If Landlord does inform Tenant shall of any such removal requirements, then Tenant may either remove or leave such Tenant Improvements as it decides. Tenant's responsibility upon removal of any such Tenant Improvement is to repair any damage caused by the installation removal and not to restore the Demised Premises. (c) Tenant Improvements may be done by any contractor chosen by Tenant and approved by Landlord which approval shall not be unreasonably withheld or removal delayed. Said contractor must be licensed, carry the kinds or insurance and in the amounts set forth in subparagraph (f) below, and must not interfere with Landlord's performance of its obligations under this Lease. (d) If Tenant retains Landlord to perform any of the work of making Tenant's Removable Property. Improvements for Tenant, Landlord shall obtain bids from three (3) independent general contractors. If Landlord acts as its own general contractor, it shall obtain three (3) bids from three (3) independent subcontractors for each discipline (mechanical, electrical, etc.). Landlord shall make its recommendation as to each bidder, however, Tenant fails shall have the right to remove any of Tenant's Removable Propertychoose the successful bidder in either event. If Landlord acts as its own general contractor, Landlord mayshall not receive more than ten percent (10%) overhead and profit based on the total cost of construction. (e) Tenant in making any Tenant Improvements shall cause all work to be done in a good and workmanlike manner using materials equal to or better than those used in the construction of the Demised Premises and shall comply with or cause compliance with all applicable building codes, health and safety regulations and zoning laws and with any direction given by any public officer pursuant to such codes, regulations and laws. Tenant shall obtain or cause to be obtained and maintain in effect, as necessary, all building permits, licenses, temporary and permanent certificates of occupancy and any other governmental approvals which may be required in connection with the fullest extent permitted by Law: making of the Tenant Improvements. Landlord shall cooperate with Tenant in the obtaining thereof and shall execute any documents reasonably required in the furtherance of such purpose, provided any such cooperation shall be without expense and/or liability to Landlord. (f) Tenant shall have its contractor procure and maintain in effect during the term of such Tenant Improvements, the following insurance coverages with an insurance company or companies with a Best's rating of A- or better and authorized to do business in the Commonwealth of Massachusetts. (1) treat such TenantWorkmen's Removable Property as abandoned by Tenant with full rights Compensation Insurance-Statutory limits for the Commonwealth of ownership in Landlord; Massachusetts. (2) remove and store any Employer's Liability insurance meeting the requirements of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or Massachusetts law. (3) sell or dispose of such Tenant's Removable Comprehensive General Liability - at least $1,000,000.00 Combined Single Limit, including Personal Injury, Contractual and Products/Completed Operations Liability and Property without delivering any proceeds to TenantDamage. To Coverage must include the fullest extent permitted by applicable Lawfollowing: (a) premises - operations (b) elevators and hoists (c) independent contractor (d) contractual liability assumed under this contract (e) completed operations - products (f) explosion, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration underground and collapse (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property.XCU) coverage

Appears in 1 contract

Sources: Lease Agreement (Seachange International Inc)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Tenant’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the TI Allowance and in accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost (as projected by Landlord) of the Base Building Improvements exceeds the Base Building Allowance (such excess, the “Excess Base Building Costs,” Tenant shall advance to Landlord any Excess Base Building Costs within ten (10) days after receipt of an invoice therefor, but in any case before Tenant commences the Base Building Improvements. If the actual Excess Base Building Costs are less than the Excess Base Building Costs paid by Tenant to Landlord, Landlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, beginning after Landlord has completed the final accounting for the Tenant Improvements. If the actual Excess Base Building Costs at any point during the construction of the Base Building Improvements are or are projected to be more than the previously estimated Excess Base Building Costs, Tenant shall advance to Landlord any such additional Excess Base Building Costs within ten (10) days after receipt of an invoice therefor. To the extent that the total projected cost (as projected by Landlord) of the Premises Improvements exceeds the Premises Allowance, and provided that such excess cost is not due to Landlord Delay, (such excess, the “Excess Premises Costs” and together with the Excess Base Building Costs, the “Excess TI Costs,” Tenant shall pay the costs of the Premises Improvements on a pari passu basis with Landlord as such costs become due, in the proportion of Excess Premises Costs payable by Tenant to the Premises installed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable PropertyAllowance. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose any third party under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. Any and all amounts associated with remediation of Pre-Existing Hazardous Conditions shall be paid solely by Landlord and shall not be paid out of the TI Allowance or included as Excess TI Costs.

Appears in 1 contract

Sources: Lease (Alnylam Pharmaceuticals, Inc.)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before Base TI Allowance and, if properly requested by Tenant pursuant to the Expiration Date terms of the Lease, the Additional TI Allowance) and in substantial accordance with the Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. The construction contract for the Tenant Improvements shall be open book, and at Landlord’s election, a design-build or guaranteed maximum price contract. To the extent that were installed by the total projected cost of the Tenant that are in excess Improvements (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant Improvements on a pari passu basis with Landlord as such costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARDbecome due, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed proportion of Excess TI Costs payable by Tenant before to the Expiration Date or date of termination of this Base TI Allowance (and, if properly requested by Tenant pursuant to the Lease, if earlier than the Expiration DateAdditional TI Allowance) payable by Landlord. If the cost of the Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, provided that upon Landlord's prior written consent, which then Landlord may notify Tenant and Tenant shall not be unreasonably withheld, Tenant may remain deposit any additional Excess TI Costs with Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Landlord or its contractors as the Tenant Improvements shall be new or “like new,” and the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertya first-class, workmanlike manner.

Appears in 1 contract

Sources: Lease (Omega Therapeutics, Inc.)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, any or all ’s sole cost and expense (subject to Landlord’s obligations with respect to payment of the following on or before Base TI Allowance and, if properly requested by Tenant pursuant to the Expiration Date terms of the Lease, the Additional TI Allowance) and in accordance with the Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements that were installed (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant that are Improvements on a pari passu basis with Landlord as such costs become due, in excess the proportion of Excess TI Costs payable by Tenant to the Base TI Allowance (and, if properly requested by Tenant pursuant to the Lease, the Additional TI Allowance). If the cost of the costs associated with standard office improvements; Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove shall pay any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain additional Excess TI Costs in the Premises for up to five days after same way that Tenant paid the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any sum due to Landlord under this Work Letter, then after notice and the expiration of Tenant's Removable Propertya ten (10) business day cure period, Landlord may, to shall have all of the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether a first-class, workmanlike manner; and the Alteration or any portion quality of the Alteration will Tenant Improvements shall be designated of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as Tenant's Removable Propertyto guard against dust, debris or damage. All Tenant Improvements shall be performed in accordance with Article 17 of the Lease; provided that, notwithstanding anything in the Lease or this Work Letter to the contrary, in the event of a conflict between this Work Letter and Article 17 of the Lease, the terms of this Work Letter shall govern.

Appears in 1 contract

Sources: Lease Agreement (La Jolla Pharmaceutical Co)

Tenant Improvements. All Landlord shall cause its contractor to make such improvements to the Premises installed Suite 100 Expansion Space as may be specified by Landlord or Tenant and approved by Landlord, such specification and approval to be completed not later than April 30, 2021 (collectively, "Tenant Improvements") will be owned by ”). Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all hereby approves of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements to include installing glass partitions in the ground floor common area and removing the two existing doors in order to separate/designate the ground floor restrooms and adjacent hallway for Tenant’s exclusive use as shown in Exhibit B. All such improvements shall be set forth at one time by Tenant as part of a single plan, it being understood that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will Landlord shall not be required to remove any batteries, generators, fuel tanks undertake multiple jobs. All materials and security systems (not including interior wiring) installed by Tenant. The finishes utilized in completing the Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property Improvements shall be removed Landlord’s building standard. Should Landlord submit any matter to Tenant for approval, Tenant shall approve or reasonably disapprove same (with reasons specified) within 5 business days. Landlord’s total contribution for the Tenant Improvements shall not exceed $166,070.00 (“Landlord Contribution”). It is understood that Landlord shall be entitled to a supervision/administrative fee equal to 3% of the total hard and soft construction cost, which fee shall be paid from the Landlord Contribution. Any excess cost shall be borne solely by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon and shall be paid to Landlord within 10 days following Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises ’s billing for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Termexcess cost. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove understands and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing agrees that Landlord advise Tenant whether the Alteration or any portion of the Alteration will Landlord Contribution not utilized by Tenant as part of the single improvement project on or before December 31, 2021 shall inure to the benefit of Landlord and Tenant shall not be designated entitled to any credit or payment or to apply any such savings toward additional work. It is understood that the Tenant Improvements shall be done during Tenant’s occupancy of the Suite 100 Expansion Space. In this regard, Tenant agrees to assume any risk of injury, loss or damage which may result and that no rental abatement shall result while the Tenant Improvements are completed in the Premises. Landlord shall use commercially reasonable efforts to perform the Tenant Improvements such that it minimizes disruption to Tenant’s business activities, which may include working after hours and on weekends as requested by Tenant's Removable Property.

Appears in 1 contract

Sources: Lease Agreement (Bionano Genomics, Inc)

Tenant Improvements. All Landlord shall endeavor to deliver the Initial Premises to Tenant on the Commencement Date with Initial Landlord’s Work substantially complete. As used herein, “Initial Landlord’s Work” shall mean the management of the construction of the Tenant Improvements plan in substantial compliance with Initial Premises identified in the attached Exhibit A. Upon notice from Tenant, Landlord shall endeavor to deliver the Expansion Premises with Expansion Landlord’s Work substantially complete within a mutually agreeable time period in substantial compliance to a floor plan to be provided by Tenant and approved by Landlord in its sole and absolute discretion. As used herein, “Expansion Landlord’s Work” shall mean the management of the construction of the Tenant Improvements plan in substantial compliance with the floor plan of the Expansion Premises. Landlord shall provide Tenant an allowance of __1 (“Expansion Allowance”) for the construction of Expansion Landlord’s Work by the contractor retained by Landlord and approved by Tenant for the construction of the Expansion Landlord’s Work. Substantial completion shall mean the completion of Initial Landlord’s Work or Expansion Landlord’s Work, subject only to punch list items which do not materially affect Tenant’s use of the Premises. With a corresponding adjustment in Base Rent described below, Landlord shall make available to Tenant an allowance (the “Tenant Improvement Allowance”) in the maximum amount of $ per rentable square foot of the Premises. If Tenant draws the full amount of the Tenant Improvement Allowance, Landlord shall provide an additional allowance of up to $ per rentable square foot of the Premises (“Additional Tenant Improvement Allowance”) for use by Tenant without a rent adjustment, The Expansion Allowance, Tenant Improvement Allowance, and the Additional Tenant Improvement Allowance may be used by Tenant only in connection with the design and construction of improvements to the Premises installed in accordance with designs and plans submitted by Tenant and approved by Landlord or Tenant (collectively, "the “Tenant Improvements") will ”). The Tenant Improvements shall be owned designed and constructed by architects and contractors selected by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed approved by Tenant. The All disbursements of the Expansion Allowance, Tenant will replace all Removed "Improvement Allowance, and the Additional Tenant Improvements" which were in "excess Improvement Allowance and the construction of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property Tenant Improvements shall be removed in accordance with a work letter to be executed by Landlord and Tenant before concurrently with the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession execution of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, In addition to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement other amounts payable by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds under the Lease, Tenant shall pay to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion as administrative rent out of the Alteration will be designated as Tenant's Removable PropertyExpansion Allowance, Tenant Improvement Allowance, and the Additional Tenant Improvement Allowance the amount of 5% of the total cost of the Tenant Improvements.

Appears in 1 contract

Sources: Sublease (Atossa Genetics Inc)

Tenant Improvements. All improvements Any work to make the Premises ready for Tenant's use is to be performed by Tenant at its expense (hereinafter referred to as “Tenant's Work”). Tenant's Work shall include, without limitation, all items required to fully equip the Premises with all trade fixtures, security systems and monitoring, lighting fixtures, furniture, furnishings, fixtures, signs, any special equipment and other items of construction and personal property necessary for the completion of the Premises and the proper operation of Tenant's business. All such items installed by Landlord Tenant shall be new or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon in like-new condition. All entry into the Premises without compensation to Tenant. However, Tenant, and work done by written notice to Landlord, may remove, Tenant shall be at Tenant's expenserisk, any or all of subject to Landlord’s duty to maintain the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; Building and (2) building systems as required pursuant to this Lease. All Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property Work shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon subject to Landlord's prior written consent, approval to which shall not be unreasonably withheld, Tenant may remain conditioned or delayed, and shall be performed in accordance with good construction practices, all applicable laws, insurance requirements, Landlord's reasonable rules and regulations uniformly applied and the terms of the Lease. Further, except in the Premises event of Landlord’s willful misconduct or gross negligence, Landlord shall have no responsibility or liability for up any loss or damage to five days after the Expiration Date for the sole purpose of removing any property belonging to Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused reimburse Landlord, within fifteen (15) days after demand, for the actual third-party costs incurred by Landlord associated with review of Tenant’s plans for Tenant’s Work. For purposes hereof, “hard costs” exclude furniture, fixtures and equipment installed by Tenant, general conditions payable under the construction contract, fees paid to the general contractor and all other items of expense generally deemed to be soft costs in the construction industry. Prior to the commencement of any of the Tenant’s Work, Tenant shall provide to Landlord all applicable permits, a schedule for the Tenant’s Work, a budget for the Tenant’s Work, a subcontractor list (subject to the requirements of Section 4), and certificates of insurance for commercial general liability insurance as required by the installation Lease from all contractors and subcontractors performing the Tenant’s Work naming Landlord as an additional insured. Landlord shall not charge any construction supervision or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, plan review fees related to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property’s Work.

Appears in 1 contract

Sources: Lease (GrubHub Inc.)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before Base TI Allowance and, if properly requested by Tenant pursuant to the Expiration Date terms of the Lease, the Additional TI Allowance used by Landlord in completing the Tenant Improvements, but subject to the last sentence of Section 4.7 of the Lease) and in substantial accordance with the Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements that were installed (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant that are Improvements on a pari passu basis with Landlord as such costs become due, in excess the proportion of Excess TI Costs payable by Tenant to the Base TI Allowance (and, if properly requested by Tenant pursuant to the Lease, the Additional TI Allowance) payable by Landlord. If the cost of the costs associated with standard office improvements; Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord’s and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property ’s respective pari passu shares shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyadjusted accordingly. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Landlord or its contractors as the Tenant Improvements shall be new or “like new,” and the Tenant Improvements shall be performed in writing that Landlord advise a first-class, workmanlike manner and in compliance with Applicable Laws to the extent required by applicable Governmental Authorities as a condition to the issuance of a certificate of occupancy or its substantial equivalent (i.e., a final sign off on permits for the Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable PropertyImprovements).

Appears in 1 contract

Sources: Lease Agreement (Codex DNA, Inc.)

Tenant Improvements. All improvements to the Premises installed Tenant Improvements shall be performed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove’s contractor, at Tenant's expense, ’s sole cost and expense (subject to Landlord’s obligations with respect to any or all portion of the following on or before TI Allowance used by Landlord in completing the Expiration Date Tenant Improvements) and in substantial accordance with the Approved Plans (or earlier termination): (1) any as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements that were installed (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant that are Improvements on a pari passu basis with Landlord as such costs become due, in excess the proportion of Excess TI Costs payable by Tenant to the TI Allowance payable by Landlord. In the event Tenant wishes to value engineer the Tenant Improvements prior to its approval of the costs associated with standard office improvements; and (2) Tenant's personal property (collectivelybudget for the Tenant Improvements, "Tenant's Removable Property"). Tenant will be required permitted to remove do so; provided that any batteries, generators, fuel tanks and security systems (not including interior wiring) installed delay caused by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property such value engineering shall be removed by a Tenant before delay and the Expiration Date or date of termination Substantial Completion of this Leasethe Tenant Improvements for purposes of calculating the Expansion Commencement Date will be deemed to be the date that Substantial Completion would have occurred absent such delay. If the cost of the Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which then Landlord may notify Tenant and Tenant shall not be unreasonably withheld, Tenant may remain deposit any additional Excess TI Costs with Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Landlord or its contractors as the Tenant Improvements shall be new or “like new,” and the Tenant Improvements shall be performed in writing that a first-class, workmanlike manner. Landlord advise will complete the final accounting for the Tenant whether the Alteration or any portion Improvements promptly after Substantial Completion of the Alteration will be designated as Tenant's Removable Propertysame.

Appears in 1 contract

Sources: Sublease Agreement (Locust Walk Acquisition Corp.)

Tenant Improvements. All Landlord shall provide Tenant with a tenant improvement allowance (“Allowance”) not to exceed $6.00/sq. ft. on 58,958 rentable square feet ($353,748.00), the funds of which will be used exclusively for improvements within the Premises. Tenant improvements shall include normal and customary costs and expenses (including permit licenses and inspection fees) incurred in connection with tenant improvement renovation as is consistent with current market standards. The proposed tenant improvement renovation shall include, but not be limited to the Premises installed carpet or wallcovering replacement, painting, demolition of walls, installation of new walls, electrical and HVAC changes, etc. The Allowance shall be made available by Landlord or Tenant (collectively, "Tenant Improvements"for Tenant’s use as follows: i) an amount not to exceed $200,000.00 which will be owned made available for Tenant’s use as requested by Tenant through the year 2001, to include reimbursement to Tenant by Landlord from Allowance for expenses incurred by Tenant for Expansion Area I, and ii) beginning in the year 2002, the remaining Allowance, including the balance of the Allowance, if any, not use through the calendar year 2001, shall be made available as requested by Tenant through expiration of the Term. Tenant will remain upon the Premises without compensation to Tenant. However, Tenant, by provide Landlord a minimum of twenty (20) days advance written notice to obtain Landlord, may remove, at Tenant's ’s approval prior to incurring any expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant which approval will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, the cost of which would exceed Five Thousand Dollars ($5,000). Landlord shall reimburse Tenant may remain in for approved expenses not later than thirty (30) days following Landlord’s receipt of the Premises for up reimbursement request and verification of the work completed thereon. A separate tenant improvement ledger will be maintained by Landlord through the Term of the Lease to five days after the Expiration Date account for the sole purpose expenditure of removing Tenant's Removable Propertytenant improvement costs pursuant to this section. Tenant's possession Any unused Allowance at the end of the Premises for such purpose Extended Term shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused forfeited by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property.

Appears in 1 contract

Sources: Lease Agreement (CHG Healthcare Services, Inc.)

Tenant Improvements. All improvements to Tenant shall construct, furnish or install all improvements, equipment or fixtures that are necessary for Tenant's use and occupancy of the entirety of the Leased Premises installed by Landlord or Tenant (collectively, the "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant). However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all Tenant shall complete construction of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by for the entirety of the Leased Premises. Tenant shall also be responsible for the cost of any alterations to the Building or Property required as a result of the Tenant that are in excess Improvements. Tenant will engage a consultant reasonably approved by L▇▇▇▇▇▇▇ to manage the design and construction of the costs associated with standard office improvements; and Tenant Improvements (2) Tenant's personal property (collectively, "Tenant's Removable PropertyTenant Improvement Project Manager"). Tenant will shall cause all drawings and specifications for the Tenant Improvements to be required prepared by an architect selected by T▇▇▇▇▇ and reasonably approved by Landlord ("Tenant Improvement Architect") and to remove any batteriesbe constructed by a general contractor licensed in California, generators, fuel tanks and security systems (not including interior wiring) installed selected by Tenant. The Tenant will replace all Removed , and reasonably approved by Landlord ("Tenant Improvements" which were in Improvement Contractor"excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant). Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, conditioned or delayed, shall be required if Tenant may remain in the Premises desires to change its Tenant Improvement Architect, Tenant Improvement Contractor or Tenant Improvement Project Manager. Landlord shall respond to T▇▇▇▇▇'s request for up consent to (or consent to change) its Tenant Improvement Architect, Tenant Improvement Contractor or Tenant Improvement Project Manager within five (5) business days after the Expiration Date for the sole purpose receipt of removing written notice thereof. L▇▇▇▇▇▇▇'s failure to respond to Tenant's Removable Property. Tenant's possession of request for consent to the Premises for Tenant Improvement Project Manager or Tenant Improvement Architect or Tenant Improvement Contractor within such purpose 5-business day period shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Termdeemed Landlord's approval. Tenant shall repair damage caused by furnish to Landlord a copy of the installation or removal executed contracts between Tenant and Tenant Improvement Project Manager, Tenant and Tenant Improvement Architect, and Tenant and Tenant Improvement Contractor, covering all of Tenant's Removable Propertyobligations under this Work Letter. If The Tenant fails Improvements shall be in conformity with drawings and specifications submitted to remove any of Tenant's Removable Propertyand approved by Landlord, Landlord maywhich approval shall not be unreasonably withheld, to conditioned or delayed, and shall be performed in accordance with the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property.following provisions:

Appears in 1 contract

Sources: Lease Agreement (EBR Systems, Inc.)

Tenant Improvements. The Tenant Improvements shall be furnished and installed within the Premises substantially in accordance with the Working Drawings to be prepared by the Tenant Architect and approved by Landlord in writing in accordance with this Workletter. All Tenant Improvements will be managed by Landlord and shall be furnished and installed by the selected Premises Contractor at the expense of Tenant, subject to application of the Tenant Improvement Allowance. Tenant hereby acknowledges that the Special Tenant Improvements described on Schedule B-4 are subject to the approval of applicable governmental authorities and applicable Regulations. Landlord and Tenant agree that to the extent it will save time and money for all involved, Landlord may choose to combine a portion of the TI Work (for example improvements to the Premises installed Building electrical and HVAC systems) necessary to accommodate Tenant’s Special Tenant Improvements with the now ongoing Base Building Improvements described in Section 3 of Schedule B-1. If such election is made, then to be included in the Costs of TI Work, the portion of the scope and cost of such work to be included in the Costs of the TI Work shall be described in a change order to such existing construction contract that is signed by Landlord or Tenant (collectively, "Tenant Improvements") will be owned by both Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit Improvement Allowance may be applied to offset Landlord's costs set forth the cost of any Special Tenant Improvements. Landlord shall enter the Premises Contract with the Premises Contractor. The Tenant Improvements shall be constructed in accordance with the Premises Contract and the Working Drawings prepared by the Tenant Architect and approved by Tenant and Landlord in accordance with Section 5 below, and permitted by the City of Seattle. If the Premises Contractor delivers any proposed change to the Premises Contract, Tenant shall promptly be provided an “open book” explanation and documentation to support such change or any alteration in the preceding sentence. Notwithstanding proposed stipulated sum for the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion Costs of the Alteration will TI Work, and be designated as Tenant's Removable Propertyafforded an opportunity to review and approve any alteration in the approved stipulated sum for the Costs of the TI Work before the affected work is performed.

Appears in 1 contract

Sources: Lease (Cray Inc)

Tenant Improvements. All improvements A. Tenant Improvements for the Initial Premises ("INITIAL TENANT IMPROVEMENTS") shall be constructed pursuant to Tenant's plans for the Premises approved by Landlord to the Premises installed by extent and in the manner set forth in Exhibit D. Landlord or shall enter into the contract with the Initial Tenant (collectivelyImprovements contractor, "who shall be selected in accordance with the provisions of Exhibit D. Tenant is aware that its selection of an Initial Tenant Improvements contractor other than the Shell and Core Contractor may result in delays in completion of the Initial Tenant Improvements. B. Landlord shall provide Tenant with an allowance (the "ALLOWANCE") will of Thirty and 15/100 Dollars ($30.15) per square foot of usable area in the Initial Premises (i.e. $30.00 per usable square foot for tenant improvements and $0.15 per usable square foot for the space planning allowance). The Allowance may be owned applied to costs of designing and constructing the tenant Improvements, Tenant's signage costs and the acquisition and installation of Tenant's furniture, fixtures and equipment. The Landlord shall contract with the contractor chosen by Landlord Tenant to construct the Tenant Improvement (the terms and will remain upon the Premises without compensation conditions of which contract shall be subject to Tenant. However's prior written approval, acting reasonably) and shall pay all payments owed to such contractor when and as due; provided that at such time as Landlord has paid the total sum of the Allowance to such contractor, or to others at the direction of Tenant, Tenant shall thereafter be responsible to pay the balance owed to the contractor, which balance shall be paid by written notice Tenant to Landlord, may removefor payment to the contractor, at Tenant's expense, any or all of the following on or before the Expiration Date (same day that payments are owed by Landlord to such contractor in connection with the construction of the Tenant Improvements. Any unused portion of the Allowance may be taken as a credit against Rent or earlier termination): (1) any may be applied to additional build-out, wiring or cabling costs, as Tenant may elect. Any costs of constructing Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; Allowance shall be borne solely by Tenant. C. Landlord and (2) Tenant mutually agree on the selection of JPC, Incorporated as Tenant's personal property (collectivelyarchitect to plan, "Tenant's Removable Property")design, and complete construction documents for the Initial Tenant Improvements. Tenant The cost for such services as well as engineering costs attributable to the same shall be charged against the Allowance; provided that the contract with JPC, Incorporated, as well as with any engineer, the costs of which will be required to remove any batteriescharged against the Allowance, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms the prior written approval of Tenant, acting reasonably. D. All disputes, controversies and conditions claims arising out of this Lease, including or relating to the obligation to pay Rent on a per diem basis at the rate in effect for the last month construction of the Term. Tenant Improvements in the Initial Premises shall repair damage caused be settled by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property expedited mandatory arbitration as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentencethis Section 6(D). Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined All statutes of limitations which would otherwise be applicable and any limitations upon claims set forth in this Agreement shall apply to any arbitration proceeding under this Section 10.C.6(D), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property.

Appears in 1 contract

Sources: Lease Agreement (Bsquare Corp /Wa)

Tenant Improvements. All improvements Landlord shall provide Tenant a tenant improvement allowance up to and not to exceed $108,094.00 (the "TI Allowance"). The TI Allowance shall be used to pay for all costs and expenses incurred in connection with remodeling the Expansion Area, including, without limitation, all costs for heating, ventilation and air conditioning modifications made to the Premises installed by Landlord or existing condition as of the signature date of the Second Amendment to Lease, electrical distribution, plumbing, partitions, working drawings, construction documents, design services, supervision and permits, but not furniture and furnishings. It is agreed and understood that Tenant (collectively, "Tenant Improvements") will be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at Tenant's expense, any or all responsible for payment of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are entire cost of other improvements in excess of the TI Allowance. If Tenant exceeds the TI Allowance, any such excess costs associated with standard office improvements; shall promptly be paid by Tenant in a single lump sum within 15 days after receipt of invoice from the Landlord. Tenant shall not be entitled to a credit for any unused portion of the TI Allowance. Landlord will act as construction manager and (2) administer a contract on the Tenant's personal property (collectivelybehalf for the entire scope of the work outlined above and Landlord shall have no liability to tenant whatsoever for any claims or damages arising in connection with Landlord's services as construction manger or its administration of the construction contract, "Tenantexcept as may be caused by Landlord's Removable Property")gross negligence, willful misconduct or delay, except for causes beyond the Landlord's control. Landlord shall not charge Tenant will be required to remove or the TI Allowance for any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenantconstruction supervisory fee of landlord or its building manager. The Tenant will replace plans for the remodeling work itself, and all Removed "Tenant Improvements" which were contractors and subcontractors used in "excess of standard" with leasehold improvements which would be considered STANDARDthe remodeling work, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon subject to Landlord's prior written consentapproval, which approval shall not unreasonably be unreasonably withheld, Tenant may remain . All remodeling work shall be in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession compliance with all applicable laws and regulations as of the Premises for such purpose shall be subject to all terms and conditions date of this LeaseAmendment, including including, without limitation, the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant Americans with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentence. Notwithstanding the foregoing, Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable PropertyDisabilities Act.

Appears in 1 contract

Sources: Lease (Cfi Proservices Inc)

Tenant Improvements. All improvements Lessor agrees to provide Lessee with a tenant improvement allowance (the "Allowance") of $7.00 per rentable square foot to be applied to the Premises installed by Landlord or Tenant cost of constructing tenant improvements (collectively, the "Tenant Improvements") will during the first year of the renewal term of this Lease. Any unused portion of the Allowance may be owned by Landlord and will remain upon the Premises without compensation to Tenant. However, Tenant, by written notice to Landlord, may remove, at applied as a credit toward Tenant's expense, any or all rent. All costs of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by exceed the Tenant that are in excess Allowance shall be the responsibility of the costs associated with standard office improvements; Lessee and shall be paid directly to Lessor within thirty (230) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "days after completion of such Tenant Improvements" . Any such amounts payable by Lessee which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall are not be unreasonably withheld, Tenant may remain in the Premises for up to five paid within thirty (30) days after the Expiration Date for due date will have interest added to the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis unpaid principal balance at the rate of one and one-half percent (1 1/2%) per month until payment, including any added interest, is received in effect for the last month full by Lessor. Any such Tenant Improvements shall be constructed by contractors and subcontractors approved in writing by Lessor and in accordance with plans and specifications to be provided by Lessee and to be approved in writing by Lessor prior to commencement of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose construction of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs set forth in the preceding sentenceTenant Improvements. Notwithstanding the foregoing, Tenantonly one-half (1/2) of the cost of constructing a new demising wall (exclusive of wall finishes) on the seventh (7th) floor of the Building (the "New Demising Wall"), as a part of the Tenant Improvements and in connection with the reduction in the number of rentable square feet of the leased premises as described in Paragraph 3 hereinabove, shall be paid from the Allowance. The other one-half of the cost of constructing the New Demising Wall (exclusive of wall finishes) shall be paid by Lessor. The cost of wall finishes on the New Demising Wall shall be borne solely by Lessee. Lessor shall, at Lessor's sole cost and expense, remodel the time it requests approval for restrooms located on the eighth (8th) floor of the Building in a proposed Alteration manner consistent with the remodeling of the other restrooms located within the common areas of the Building (defined in Section 10.C.the "Lessor Improvements"). The Lessor Improvements shall not be included as a part of the Tenant Improvements, may request in writing that Landlord advise Tenant whether the Alteration or any and no portion of the Alteration will Allowance shall be designated applied to the cost of constructing the Lessor Improvements. The Lessor at its sole expense shall replace the existing sign in front of the Building that identifies the Lessee as Tenant's Removable Propertya tenant of the Building with new identification of similar size containing the name of Lessee and its business logo. Lessee shall provide Lessor with all necessary artwork and shall have the right to approve the final drawings for such sign.

Appears in 1 contract

Sources: Lease Agreement (Restaurant Co)

Tenant Improvements. All Landlord, at Landlord’s sole cost and expense shall provide a “one time” refurbishment allowance of $800,000 ($12.66 per square foot) (the “Allowance”) to be used at Tenant’s sole discretion. Landlord and Tenant shall mutually agree on the improvements to be constructed for the Premises installed Tenant and a construction budget. Landlord will select the contractor to perform the work, subject to Tenant’s approval. Except as provided herein, Tenant shall be responsible for the costs of any work which exceeds the Allowance. Landlord will provide Tenant copies of all statements, bills and other evidence for the work completed. Landlord will provide Tenant a Statement and bills or other invoices for any work which was completed that exceeded the Allowance and Tenant will pay the amounts requested by Landlord within 30 days of the request and approval of the underlying invoices and support materials. Except as provided herein, the Allowance may be used for all hard and soft costs incurred by Landlord for the permitting and construction of the improvements as well as any design or architectural costs incurred by Tenant in connection with the improvements and Tenant’s costs of furniture, fixtures and equipment (collectively“Eligible Costs”). Notwithstanding the foregoing, "Tenant Improvements"may elect to apply all or any portion of the unused Allowance towards future Base Rent, in which event, except as otherwise provided herein, any Eligible Costs incurred by Landlord that exceed the available Allowance shall be paid by Tenant. Landlord shall construct the improvements in accordance with final plans and specifications provided by Tenant or Tenant’s architect (the “Final Plans”). At Tenant’s request, Landlord shall cause two (2) general contractors to bid for construction of the improvements. If Tenant so desires, Tenant may also select a general contractor, reasonably acceptable to Landlord, to bid the work. All bids will be owned by opened together with Landlord selecting the general contractor to construct the improvements (the “General Contractor”), subject to Tenant’s approval. Notwithstanding Tenant’s right to approve the General Contractor, the General Contractor is the contractor only of Landlord and Tenant shall have no liability to the General Contractor on the construction contract. Landlord shall cause the General Contractor to prepare one or more estimates of the total cost for the improvements which are consistent with the bid (each a “Cost Estimate”), and, a detailed construction schedule for the construction of the improvements (the “Improvement Schedule”) and deliver the same to Tenant for approval. Upon approval of the final Cost Estimate and Improvement Schedule for the improvements (or any phase thereof), Landlord will remain enter into a guaranteed maximum price construction contract for such improvements in the amount of the approved Cost Estimate (such amount, the “Guaranteed Maximum Price” or “GMP”) and requiring completion of the improvements in the time period specified in the approved Improvement Schedule. Landlord shall not modify the GMP, the Improvement Schedule or the Final Plans without Tenant’s consent. Tenant shall have the right to modify the Improvements, Final Plans and Improvement Schedule by submitting a written request for any such modification to Landlord. Without limiting the foregoing, Landlord acknowledges that Tenant may elect to perform the Improvements in phases and at different times in order to accommodate Tenant’s business operations in the Premises, so long as Tenant gives the information to the General Contractor so he can prepare the Improvement Schedule prior to it being agreed upon the Premises without compensation to Tenantby all parties. However, Tenantif Tenant elects to have the improvements performed in phases, by written notice to Landlordafter the Improvement Schedule is approved, may removeand the change in schedule results in additional costs that exceed the Allowance, at Tenant's expense, any or all of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed by the Tenant that are in excess of the costs associated with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required responsible for said costs. Upon receipt of a request for a change order from Tenant, Landlord will cause the General Contractor to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in prepare a written change order to leave be delivered to Tenant for Tenant’s approval. Upon Tenant’s written approval of any such change order, Landlord will cause the Premises General Contractor to implement the change order in a reasonably leaseable/useable condition by an office tenantaccordance with its terms. Tenant's Removable Property shall be removed by Tenant before Subject to the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain in the Premises for up to five days after the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this LeaseSection 6, including Tenant shall be responsible for all additional costs related to any change order requested by Tenant that exceed the obligation Allowance. The improvements shall be constructed by Landlord in accordance with all rules, regulations, codes, ordinances, statutes, and laws of any governmental or quasi-governmental authority. The improvements shall be constructed on an “open book” basis and Tenant shall have access to pay Rent on a per diem basis at and the rate in effect for the last month of the Termright to review all construction invoices, contracts, working drawings, permits, lien waivers, budgets, minutes and other documentation. Tenant shall repair damage have the right to participate in all meetings related to the permitting, budgeting for and construction of the Improvements and to prescribe rules and schedules for the construction of the improvements to avoid interference with Tenant’s business activities on the Premises. Notwithstanding anything to the contrary herein, Tenant shall have no responsibility for and the Allowance shall not be used for the following: (a) costs attributable to improvements installed outside the walls of the Building, unless such improvements are specifically requested and designed by Tenant (as opposed to costs to correct existing violations of law or upgrades triggered by Tenant’s improvements and imposed by the applicable governmental authority, which shall be Landlord’s responsibility); (b) costs for improvements which are not shown on or described in the Final Plans unless otherwise approved by Tenant; (c) costs incurred due to the presence of hazardous materials in the Premises or the surrounding area; (d) 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; (e) interest and other costs of financing construction costs; (f) costs incurred as a consequence of delay (unless the delay is caused by Tenant), construction defects or default by a contractor; (g) costs recoverable by Landlord upon account of warranties and insurance; (h) restoration costs in excess of insurance proceeds as a consequence of casualties; (i) penalties and late charges attributable to Landlord's failure to pay construction costs; (j) costs to bring the installation or removal of Tenant's Removable Property. If Tenant fails to remove any of Tenant's Removable Property, Landlord may, Premises and areas exterior to the fullest extent permitted by Law: (1) treat Building into compliance with applicable laws and restrictions, including, without limitation, the Americans with Disabilities Act and environmental laws, unless such Tenant's Removable Property as abandoned improvements are specifically requested and designed by Tenant with full rights (as opposed to costs to correct existing violations of ownership in law or upgrades triggered by Tenant’s improvements and imposed by the applicable governmental authority, which shall be Landlord’s responsibility); (k) wages, labor and overhead for overtime and premium time unless required by Tenant; (l) management or other general overhead costs incurred by Landlord; and (2m) remove and store any construction costs in excess of Tenant's personal property at Tenant's expense with reimbursement by Tenant to Landlord upon demand; and/or (3) sell or dispose of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable LawGMP, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs except for increases set forth in the preceding sentence. Notwithstanding the foregoingapproved change orders, or delays caused by Tenant, at the time it requests approval for a proposed Alteration (defined in Section 10.C.), may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Property.

Appears in 1 contract

Sources: Lease Agreement (eHealth, Inc.)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Landlord’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Base TI Allowance and, if properly requested by Tenant pursuant to the Premises installed terms of the Lease, the Additional TI Allowance used by Landlord or Tenant (collectively, "in completing the Tenant Improvements"), in a good and workmanlike manner in compliance with all Applicable Laws, and in substantial accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) will be owned exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant Improvements on a pari passu basis with Landlord as such costs become due within thirty (30) days of Landlord’s invoice therefor, in the proportion of Excess TI Costs payable by Tenant to the TI Allowance. If Landlord and will remain upon is delayed in commencing the Premises without compensation Tenant Improvements due to Tenant. However, Tenant, by written notice ’s failure to timely pay the Excess TI Costs to Landlord, may remove, at Tenant's expense, any or all Landlord shall be entitled to a day-for-day extension to achieve Substantial Completion of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed for the period of such delay and it shall be deemed a Tenant Delay. If the actual Excess TI Costs are less than the Excess TI Costs paid by Tenant to Landlord, Landlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, beginning after Landlord has completed the final accounting for the Tenant that are in excess Improvements. If the cost of the costs associated Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and Tenant shall deposit any additional Excess TI Costs with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Landlord or its contractors as the Tenant Improvements shall be new or “like new,” and the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertya first-class, workmanlike manner.

Appears in 1 contract

Sources: Lease Agreement (Selecta Biosciences Inc)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Landlord’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Premises installed TI Allowance used by Landlord or Tenant (collectively, "in completing the Tenant Improvements") will be owned and in substantial accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall advance to Landlord and will remain upon any Excess TI Costs within ten (10) days after receipt of an invoice therefor, but in any case before Landlord commences the Premises without compensation Tenant Improvements. If Landlord is delayed in commencing the Tenant Improvements due to Tenant. However, Tenant, by written notice ’s failure to timely pay the Excess TI Costs to Landlord, may remove, at Tenant's expense, any or all Landlord shall be entitled to a day-for-day extension to achieve Substantial Completion of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed for the period of such delay. If the actual Excess TI Costs are less than the Excess TI Costs paid by Tenant to Landlord, Landlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, beginning after Landlord has completed the final accounting for the Tenant that are in excess Improvements. If the cost of the costs associated Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and Tenant shall deposit any additional Excess TI Costs with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Landlord or its contractors as the Tenant Improvements shall be new or “like new,” and the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertya first-class, workmanlike manner.

Appears in 1 contract

Sources: Lease Agreement (Synlogic, Inc.)

Tenant Improvements. All improvements Tenant Improvements shall be performed by Landlord’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Base TI Allowance and, if properly requested by Tenant pursuant to the Premises installed terms of the Lease, the Additional TI Allowance used by Landlord or Tenant (collectively, "in completing the Tenant Improvements") will be owned and in substantial accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as projected by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall advance to Landlord and will remain upon any Excess TI Costs within ten (10) days after receipt of an invoice therefor, but in any case before Landlord commences the Premises without compensation Tenant Improvements. If Landlord is delayed in commencing the Tenant Improvements due to Tenant. However, Tenant, by written notice ’s failure to timely pay the Excess TI Costs to Landlord, may remove, at Tenant's expense, any or all Landlord shall be entitled to a day-for-day extension to achieve Substantial Completion of the following on or before the Expiration Date (or earlier termination): (1) any Tenant Improvements that were installed for the period of such delay. If the actual Excess TI Costs are less than the Excess TI Costs paid by Tenant to Landlord, Landlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, beginning after Landlord has completed the final accounting for the Tenant that are in excess Improvements. If the cost of the costs associated Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and Tenant shall deposit any additional Excess TI Costs with standard office improvements; and (2) Tenant's personal property (collectively, "Tenant's Removable Property"). Tenant will be required to remove any batteries, generators, fuel tanks and security systems (not including interior wiring) installed by Tenant. The Tenant will replace all Removed "Tenant Improvements" which were in "excess of standard" with leasehold improvements which would be considered STANDARD, in order to leave the Premises in a reasonably leaseable/useable condition by an office tenant. Tenant's Removable Property shall be removed by Tenant before the Expiration Date or date of termination of this Lease, if earlier than the Expiration Date, provided that upon Landlord's prior written consent, which shall not be unreasonably withheld, Tenant may remain Landlord in the Premises for up to five days after same way that Tenant deposited the Expiration Date for the sole purpose of removing Tenant's Removable Property. Tenant's possession of the Premises for such purpose shall be subject to all terms and conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in effect for the last month of the Term. Tenant shall repair damage caused by the installation or removal of Tenant's Removable Propertyinitial Excess TI Costs. If Tenant fails to remove pay, or is late in paying, any of Tenant's Removable Property, Landlord may, to the fullest extent permitted by Law: (1) treat such Tenant's Removable Property as abandoned by Tenant with full rights of ownership in Landlord; (2) remove and store any of Tenant's personal property at Tenant's expense with reimbursement by Tenant sum due to Landlord upon demand; and/or (3) sell or dispose under this Work Letter, then Landlord shall have all of such Tenant's Removable Property without delivering any proceeds to Tenant. To the fullest extent permitted by applicable Law, any unused portion of Tenant's Security Deposit may be applied to offset Landlord's costs rights and remedies set forth in the preceding sentence. Notwithstanding Lease for nonpayment of Rent (including the foregoing, Tenant, at right to interest and the time it requests approval for right to assess a proposed Alteration (defined in Section 10.C.late charge), may request and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Landlord or its contractors as the Tenant Improvements shall be new or “like new,” and the Tenant Improvements shall be performed in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration will be designated as Tenant's Removable Propertya first-class, workmanlike manner.

Appears in 1 contract

Sources: Lease (Ignyta, Inc.)