Common use of TI Allowance Clause in Contracts

TI Allowance. The first sentence of Section 5.1 of the Existing Lease is hereby amended and restated in its entirety as follows: “Tenant shall cause appropriate improvements consistent with the Permitted Use (the “Tenant Improvements”) to be constructed in the Premises pursuant to the Work Letter attached hereto as Exhibit E (the “Work Letter”) at a cost to Landlord not to exceed Three Million Dollars ($3,000,000.00) (the “TI Allowance”).” In addition, the final sentence of Section 5.2 of the Existing Lease is hereby amended and restated in its entirety as follows: “In addition, Landlord’s obligation to disburse any of the TI Allowance in excess of Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be conditional upon the satisfaction of the following: (a) Tenant’s delivery to Landlord of a certificate of occupancy for the Premises suitable for the Permitted Use, as applicable; (b) Tenant’s delivery to Landlord of a Certificate of Substantial Completion in the form of the American Institute of Architects document G704, executed by the project architect and the general contractor or such other form or certification as may be reasonably acceptable to Landlord; (c) Tenant’s satisfaction of the conditions precedent to funding of the TI Allowance set forth in Section 6.3 of the Work Letter; and (d) there shall be no uncured event of default by Tenant under this Lease.”

TI Allowance. The first sentence of Section 5.1 of the Existing Lease is hereby amended and restated in its entirety as follows: “Tenant shall cause appropriate improvements consistent with the Permitted Use (the “Tenant Improvements”) to be constructed in the Premises pursuant to the Work Letter attached hereto as Exhibit E (the “Work Letter”) at a cost to Landlord not to exceed Three Two Million Nine Hundred Eighty-Eight Thousand Dollars ($3,000,000.002,988,000.00) (the “TI Allowance”).” In addition, the final sentence of Section 5.2 of the Existing Lease is hereby amended and restated in its entirety as follows: “In addition, Landlord’s obligation to disburse any of the TI Allowance in excess of Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be conditional upon the satisfaction of the following: (a) Tenant’s delivery to Landlord of a certificate of occupancy for the Premises suitable for the Permitted Use, as applicable; (b) Tenant’s delivery to Landlord of a Certificate of Substantial Completion in the form of the American Institute of Architects document G704, executed by the project architect and the general contractor or such other form or certification as may be reasonably acceptable to Landlord; (c) Tenant’s satisfaction of the conditions precedent to funding of the TI Allowance set forth in Section 6.3 of the Work Letter; and (d) there shall be no uncured event of default by Tenant under this Lease.”

TI Allowance. The first sentence of Section 5.1 of the Existing Lease is hereby amended and restated in its entirety as follows: “Tenant shall cause appropriate improvements consistent with the Permitted Use (the “Tenant Improvements”) to be constructed in the Premises pursuant to the Work Letter attached hereto as Exhibit E (the “Work Letter”) at a cost to Landlord not to exceed Three Five Million Five Hundred Eighty-Eight Thousand Dollars ($3,000,000.005,588,000.00) (the “TI Allowance”).” In addition, the final sentence of Section 5.2 of the Existing Lease is hereby amended and restated in its entirety as follows: “In addition, Landlord’s obligation to disburse any of the TI Allowance in excess of Two Five Million Five Four Hundred Thousand Dollars ($2,500,000.005,400,000.00) shall be conditional upon the satisfaction of the following: (a) Tenant’s delivery to Landlord of a certificate of occupancy for the Premises suitable for the Permitted Use, as applicable; (b) Tenant’s delivery to Landlord of a Certificate of Substantial Completion in the form of the American Institute of Architects document G704, executed by the project architect and the general contractor or such other form or certification as may be reasonably acceptable to Landlord; (c) Tenant’s satisfaction of the conditions precedent to funding of the TI Allowance set forth in Section 6.3 of the Work Letter; and (d) there shall be no uncured event of default by Tenant under this Lease.”

TI Allowance. The first sentence of Section 5.1 of the Existing Lease is hereby amended and restated in its entirety as follows: “Tenant shall cause appropriate improvements consistent with the Permitted Use (the “Tenant Improvements”) to be constructed in the Premises pursuant to the Work Letter attached hereto as Exhibit E (the “Work Letter”) at a cost to Landlord not to exceed Three Million Three Hundred Sixty Thousand Dollars ($3,000,000.003,360,000.00) (the “TI Allowance”).” In addition, the final sentence of Section 5.2 of the Existing Lease is hereby amended and restated in its entirety as follows: “In addition, Landlord’s obligation to disburse any of the TI Allowance in excess of Two Million Five Eight Hundred Sixty Thousand Dollars ($2,500,000.002,860,000.00) shall be conditional upon the satisfaction of the following: (a) Tenant’s delivery to Landlord of a certificate of occupancy for the Premises suitable for the Permitted Use, as applicable; (b) Tenant’s delivery to Landlord of a Certificate of Substantial Completion in the form of the American Institute of Architects document G704, executed by the project architect and the general contractor or such other form or certification as may be reasonably acceptable to Landlord; (c) Tenant’s satisfaction of the conditions precedent to funding of the TI Allowance set forth in Section 6.3 of the Work Letter; and (d) there shall be no uncured event of default by Tenant under this Lease.”

TI Allowance. The Landlord has agreed to increase the TI Allowance available to Tenant by One Million Sixty Thousand Dollars ($1,060,000.00), subject to the terms and conditions outlined in this Amendment. Accordingly, the first sentence of Section 5.1 of the Existing Original Lease is hereby amended and restated in its entirety as follows: “Tenant shall cause appropriate improvements consistent with the Permitted Use (the “Tenant Improvements”) to be constructed in the Premises pursuant to the Work Letter attached hereto as Exhibit E (the “Work Letter”) at a cost to Landlord not to exceed Six Million Six Hundred Ninety-Eight Thousand One Hundred Eighty-Three Million Dollars ($3,000,000.006,698,183.00) (the “TI Allowance”).” In addition, the final sentence of Section 5.2 of the Existing Lease is hereby amended and restated in its entirety as follows: “In addition, Landlord’s obligation to disburse any of the TI Allowance in excess of Two Six Million Five Four Hundred Sixty Thousand Dollars ($2,500,000.006,460,000.00) shall be conditional upon the satisfaction of the following: (a) Tenant’s delivery to Landlord of a certificate of occupancy for the Premises suitable for the Permitted Use, as applicable; (b) Tenant’s delivery to Landlord of a Certificate of Substantial Completion in the form of the American Institute of Architects document G704, executed by the project architect and the general contractor or such other form or certification as may be reasonably acceptable to Landlord; (c) Tenant’s satisfaction of the conditions precedent to funding of the TI Allowance set forth in Section 6.3 of the Work Letter; and (d) there shall be no uncured event of default by Tenant under this Lease.”