Common use of Tenant's Construction Allowance Clause in Contracts

Tenant's Construction Allowance. The Initial Leasehold Improvements shall be constructed by Landlord at Tenant's sole cost and expense in accordance with the Approved Plans. Tenant shall receive from Landlord an allowance (the "Tenant Allowance") of up to, but not exceeding, $116,000.00 (i.e., $20.00 per rentable square foot of the Premises leased hereby), which Tenant Allowance shall be used solely to contribute toward payment of the cost of the architectural and engineering services needed to prepare the Approved Plans, the cost of the labor and materials to construct the Initial Leasehold Improvements in accordance with the Approved Plans, and related permit and license fees (the "Work Cost"). Landlord will provide Tenant with a written estimate of the Work Cost based upon the Approved Plans (the "Work Cost Statement"). Tenant agrees to review and approve the Work Cost Statement and the subcontractors' bids within forty-eight (48) hours following Landlord's delivery thereof. Landlord will notify Tenant in writing of the projected "Occupancy Date" (as defined below) within five (5) business days following Tenant's approval of the Work Cost Statement. If the Work Cost Statement exceeds the maximum Tenant Allowance, Tenant agrees to pay Landlord within ten (10) days following Landlord's delivery of its invoice for any Work Costs incurred in an amount equal to "Tenant's Percentage" (defined below) of such invoice (such costs, the "Excess Costs"). Tenant's Percentage, as used in this Article 3, shall mean the fraction expressed as a percentage, the numerator of which is the cost of the entire Work Cost in excess of the maximum Tenant Allowance, and the denominator of which is the entire Work Cost (as the same may be amended with the consent of both Landlord and Tenant). If the Tenant Allowance exceeds the Work Cost, Tenant shall not be entitled to any payment, rent reduction or other credit therefor.

Tenant's Construction Allowance. The Initial Leasehold Landlord shall reimburse Tenant up to the Tenant’s Construction Allowance for Tenant’s actual out-of-pocket expenses incurred to third parties in the construction of Tenant’s Improvements to the Premises according to this Work Letter. Landlord shall be constructed reimburse Tenant through progress payments made on a monthly basis, to the extent of the amounts billed by Landlord at the Tenant's sole cost and expense in accordance with ’s Contractor for construction/installation of the Approved PlansTenant Improvements, up to the maximum amount of the Tenant’s Construction Allowance. Each month, Tenant shall receive from Landlord deliver to Landlord, or its representative, for approval an allowance application for payment (“Application”) for the "Tenant Allowance") of up to, but not exceeding, $116,000.00 (i.e., $20.00 per rentable square foot work completed as of the Premises leased hereby), which Tenant Allowance shall be used solely to contribute toward payment end of the cost prior month, reflecting the amounts properly billed by Tenant’s Contractor for that purpose. With each Application Tenant shall present to Landlord: (i) written approval that the work for which payment has been requested and has been completed in a satisfactory manner; (ii) copies of all invoices, purchase agreements, work agreements or related documents evidencing the architectural services rendered; and engineering services needed to prepare (iii) conditional lien waivers from any contractor or supplier who has constructed or supplied materials for the Approved Plans, Tenant Improvements during the cost of the labor and materials to construct the Initial Leasehold Improvements in accordance with the Approved Plans, and related permit and license fees period. Within ten (the "Work Cost"). Landlord will provide Tenant with a written estimate of the Work Cost based upon the Approved Plans (the "Work Cost Statement"). Tenant agrees to review and approve the Work Cost Statement and the subcontractors' bids within forty-eight (48) hours following Landlord's delivery thereof. Landlord will notify Tenant in writing of the projected "Occupancy Date" (as defined below) within five (510) business days following receipt of each Application, Landlord shall pay directly to Tenant's approval of the Work Cost Statement. If the Work Cost Statement exceeds the maximum Tenant Allowance’s Contractor, Tenant agrees to pay Landlord within ten (10) days following Landlord's delivery of its invoice for any Work Costs incurred in an amount equal to "Tenant's Percentage" (defined below) of such invoice (such costs, the "Excess Costs"). Tenant's Percentage, as used in this Article 3, shall mean the fraction expressed as a percentage, the numerator of which is the cost ’s pro-rata share of the entire Work Cost amount of the payment requested by the Tenant’s Contractor until the Tenant’s Construction Allowance is paid in full. Landlord’s pro-rata share of the progress payments paid to the Tenant’s Contractor shall be the percentage that is equal to the Tenant Finish Allowance divided by the total cost estimate to construct Tenant’s Improvements (“Total Cost”). The resulting percentage is Landlord’s pro-rata share and shall be multiplied by the total Application amount to determine the Landlord’s then-current progress payment amount. Tenant shall pay all such costs in excess of the maximum Tenant AllowanceAllowance and Landlord’s pro-rata share, and Tenant agrees to keep the denominator Premises and the real property free and clear of any liens arising out of the non-payment of such costs. In no event shall Landlord be obligated to make a disbursement pursuant to this Exhibit for Tenant Improvements in a total amount that exceeds the Tenant’s Construction Allowance. Any additional costs or expenses which is the entire Work Cost (as the same may be amended arise in connection with the consent construction or development of both Landlord and Tenant). If the Tenant Allowance exceeds Improvements shall be solely the Work Cost, Tenant shall not be entitled to any payment, rent reduction or other credit thereforresponsibility of Tenant.

Tenant's Construction Allowance. The Initial Tenant shall construct the Leasehold Improvements shall be constructed by Landlord at Tenant's its sole cost and expense in accordance with the Approved Plans. Tenant shall receive from Landlord an allowance (the "Tenant AllowanceCONSTRUCTION ALLOWANCE") of up to, but not exceeding, $116,000.00 (i.e., $20.00 per rentable square foot of the Premises leased hereby)450,000, which Tenant Construction Allowance shall be used solely to contribute toward payment of the cost of the architectural Tenant's relocation expenses and engineering services needed to prepare the Approved Plans, the cost of the labor and materials to construct the Initial Leasehold Improvements in accordance with the Approved Plans, and related permit and license fees and consulting costs (the "WORK COST"). Tenant shall also receive from Landlord an allowance (the "PLANNING ALLOWANCE") of up to, but not exceeding $1.25 per rentable square foot of space leased hereby, which Planning Allowance shall be used solely to contribute toward payment of Tenant's architectural, engineering and space planning services needed to prepare the Approved Plans. Tenant agrees to use Landlord's architect, Antixxxxx Xxxociates, or another architect selected by Tenant and approved by Landlord (which approval shall not be unreasonably withheld), to prepare Tenant's space plan for the Premises. Landlord hereby approves CORE Group P.C. as Tenant's Architect. Tenant shall provide Landlord with information as reasonably requested by Landlord to substantiate the complete Work CostCost following acceptance of construction bids for the Leasehold Improvements, including a certified budget reasonably acceptable to Landlord (the "CONSTRUCTION BUDGET") and shall provide Landlord with any changes thereto within two (2) days following any such change (such approved costs and expenses, the "CONSTRUCTION EXPENSES"). Landlord will provide Tenant with a written estimate of shall pay the Work Cost based upon the Approved Plans (the "Work Cost Statement"). Tenant agrees Planning Allowance to review and approve the Work Cost Statement and the subcontractors' bids within forty-eight (48) hours following Landlord's delivery thereof. Landlord will notify Tenant in writing of the projected "Occupancy Date" not more than three (as defined below3) disbursements within five twenty (520) business days following Tenant's approval delivery to Landlord of invoices (and any other reasonable supporting information requested by Landlord) for expenses permitted to be paid under the Work Cost StatementPlanning Allowance. If the Work Cost Statement exceeds the maximum Tenant Allowance, Tenant agrees to pay Landlord within ten The Construction Allowance shall be disbursed as described in subsection (10g) days following Landlord's delivery of its invoice for any Work Costs incurred in an amount equal to "Tenant's Percentage" (defined below) of such invoice (such costs, the "Excess Costs"). Tenant's Percentage, as used in this Article 3, shall mean the fraction expressed as a percentage, the numerator of which is the cost of the entire Work Cost in excess of the maximum Tenant Allowance, and the denominator of which is the entire Work Cost (as the same may be amended with the consent of both Landlord and Tenant). If the Tenant Allowance exceeds the Work Cost, Tenant shall not be entitled to any payment, rent reduction or other credit therefor.

Tenant's Construction Allowance. The Initial Leasehold Improvements shall be constructed by Landlord at Tenant's sole cost and expense in accordance with the Approved Plans. Tenant shall receive from Landlord an allowance (the "Tenant Allowance") of up to, but not exceeding, $116,000.00 104,000.00 (i.e., $20.00 13.00 per rentable square foot of the Premises leased hereby), which Tenant Allowance shall be used solely to contribute <PAGE> 3 toward payment of the cost of the architectural architectural, engineering and engineering space planning services needed to prepare the Approved Plans, the cost of the labor and materials to construct the Initial Leasehold Improvements in accordance with the Approved Plans, and related permit and license fees (the "Work Cost"). Landlord will provide Tenant with a written estimate of the Work Cost based upon the Approved Plans (the "Work Cost Statement"). Tenant agrees to review and approve the Work Cost Statement and the subcontractors' bids within forty-eight five (485) hours business days following Landlord's delivery thereof. Landlord will notify Tenant in writing of the projected "Occupancy Target Delivery Date" (as defined below) within five (5) business days following Tenant's approval of the Work Cost Statement. If the Work Cost Statement exceeds the maximum Tenant Allowance, Tenant agrees to pay Landlord within ten (10) days following Landlord's delivery of its invoice for any Work Costs incurred in an amount equal to "Tenant's Percentage" (defined below) of such invoice (such costs, the "Excess Costs"). Tenant's Percentage, as used in this Article 3, shall mean the fraction expressed as a percentage, the numerator of which is the cost of the entire Work Cost in excess of the maximum Tenant Allowance, and the denominator of which is the entire Work Cost (as the same may be amended with the consent of both Landlord and Tenant). If the Tenant Allowance exceeds the Work Cost, Tenant shall not be entitled to any payment, rent reduction or other credit therefor.