Common use of TENANT INDUCEMENT Clause in Contracts

TENANT INDUCEMENT. Subject to the Required Conditions, the Landlord will pay the Tenant a Leasehold Improvement allowance of SEVEN DOLLARS ($7.00) per square foot of the Rentable Area of the Premises, plus goods and services tax if applicable (the “Allowance”) to be applied towards the cost of construction of the Tenant’s Leasehold Improvements. Ninety percent (90%) of the Allowance will be paid within thirty (30) days after the last to occur of: (a) the execution of the Lease by all parties; (b) the commencement of the Term; (c) satisfactory completion of the construction of the Tenant’s Leasehold Improvements in accordance with terms and conditions provided in this Lease and delivery to the Landlord of such post-construction documentation that the Landlord reasonably requires; (d) receipt by the Landlord of a statutory declaration from the Tenant documenting (i) that payment has been made in full to all contractors, sub-contractors, suppliers and any other personnel retained to complete construction of the Tenant’s Leasehold Improvements; (ii) that construction of the Tenant’s Leasehold Improvements has been carried out and performed in accordance with all applicable by-laws, rules, regulations and orders of any lawful authority (iii) the last date on which any work was done or materials were provided in connection with the construction of the Leasehold Improvements; and (iv) that all assessments under the Workers’ Compensation Act against the Tenant, its contractors, subcontractors and other persons or business entities who performed work in the Building or the Premises in connection with the Tenant’s work have been paid in full; and (e) the delivery to the Landlord of an invoice for ninety percent (90%) of the Allowance (plus GST as applicable), such invoice to include the Tenant’s business number(s). The remaining ten percent (10%) of the Allowance will be paid forthwith after the expiry of the applicable statutory lien period, provided no liens have been registered in respect of the Tenant’s Leasehold Improvements and provided that the Tenant has delivered to the Landlord an invoice for the remaining ten percent (10%) of the Allowance (plus GST as applicable), such invoice to include the Tenant’s business number(s). The Tenant will deliver to the Landlord copies of bona fide receipts, paid invoices or other evidence acceptable to the Landlord substantiating the materials and services supplied on account of the Renovation. Provided that the Required Conditions are satisfied and the Tenant has claimed and received 90% of the Allowance in accordance with this Section 11.23 and the remaining 10% is due and payable, to the extent that the Allowance exceeds the amount that has been spent on the construction of the Tenant’s Leasehold Improvements, such extra amount, up to a maximum limit of TWO Dollars ($2.00) per square foot, shall be applied by the Landlord to the next Rent due under the Lease.

TENANT INDUCEMENT. Subject to the Required Conditions, the The Landlord will pay to the Tenant a Leasehold Improvement allowance of SEVEN DOLLARS Tenant, without duplication, as an inducement to enter into the Lease, up to thirty dollars ($7.00plus goods and services tax) per square foot ($30.00 + GST/sq.ft.) of rentable area of the Rentable Area of Premises under the Premises, plus goods and services tax if applicable Lease (the “Allowance”"Tenant Inducement") payable as follows: (i) up to be applied towards the cost of construction of the Tenant’s Leasehold Improvements. Ninety fifty percent (9050%) of the Allowance will Tenant inducement shall be paid within thirty (30) days after to the last Tenant from time to occur of: (a) time upon the execution Tenant providing to the Landlord satisfactory evidence of the Lease payment of corresponding amounts for Tenant's Work by all partiesway of receipted invoices; (b) the commencement of the Term; (c) satisfactory completion of the construction of the Tenant’s Leasehold Improvements in accordance with terms and conditions provided in this Lease and delivery to the Landlord of such post-construction documentation that the Landlord reasonably requires; (d) receipt by the Landlord of a statutory declaration from the Tenant documenting (i) that payment has been made in full to all contractors, sub-contractors, suppliers and any other personnel retained to complete construction of the Tenant’s Leasehold Improvements; (ii) that construction of the Tenant’s Leasehold Improvements has been carried out and performed in accordance with all applicable by-laws, rules, regulations and orders of any lawful authority (iii) the last date on which any work was done or materials were provided in connection with the construction of the Leasehold Improvements; and (iv) that all assessments under the Workers’ Compensation Act against the Tenant, its contractors, subcontractors and other persons or business entities who performed work in the Building or the Premises in connection with the Tenant’s work have been paid in full; and (e) the delivery up to the Landlord of an invoice for ninety percent (90%) of the Allowance (plus GST Tenant Inducement, less such amounts as applicablehave already been paid under Section 5.01(a)(i), such invoice shall be paid to include the Tenant upon satisfaction of the following: (A) the Tenant providing the Landlord with a certificate from the Tenant’s business number(s). The remaining ten percent (10%) 's architect of the Allowance will be paid forthwith after the expiry of the applicable statutory lien period, provided no liens have been registered in respect substantial completion of the Tenant’s Leasehold Improvements and provided that 's Work; (B) the Tenant has delivered to providing the Landlord an invoice for with a copy of As-Built Drawings from the Tenant's Work; (C) the Tenant taking possession, going into occupation of, and commencing the carrying-on of business with the public from the Premises; and (D) the Tenant commencing to pay Annual Basic Rent, operating costs and property taxes all in accordance with the provisions of the Lease, and (iii) the remaining ten percent (10%) of the Allowance (plus GST as applicable), such invoice to include the Tenant’s business number(s). The Tenant will deliver Inducement shall be paid to the Landlord copies Tenant forty-one (41) days after the expiry of bona fide receipts, paid invoices or other evidence acceptable any applicable lien period and subject to no liens having been filed and the Landlord substantiating the materials and services supplied on account not having received notice of the Renovation. Provided that the Required Conditions are satisfied and the Tenant has claimed and received 90% of the Allowance in accordance with this Section 11.23 and the remaining 10% is due and payable, to the extent that the Allowance exceeds the amount that has been spent on the construction of the Tenant’s Leasehold Improvements, such extra amount, up to a maximum limit of TWO Dollars ($2.00) per square foot, shall be applied by the Landlord to the next Rent due under the Leaseany lien claims.