Unamortized Allowance Clause Samples

Unamortized Allowance. Lessor shall pay to Lessee a tenant improvement allowance up to the amount of Five Hundred Forty Thousand Seven Hundred Thirty-Six Dollars ($540,736.00) (“Unamortized Allowance”), calculated at the rate of Seventeen Dollars ($17.00) per the 31,808 rentable square feet of space in the Premises, toward the Estimated Cost of Alterations as follows. Not later than the 30th day of each month during the course of construction of the Alterations, Lessee shall submit to Lessor an application for payment (in a form reasonably acceptable to Lessor and accompanied by such supporting documentation as shall be reasonably requested by Lessor, each an “Application for Payment”), of a portion of the Unamortized Allowance allocable to labor, materials and equipment incorporated in the Premises during the period indicated by the Application for Payment. On or before the 15th day of the month following submission of the Application for Payment, Lessor shall pay a portion of the Unamortized Allowance equal to the amount shown on the Application for Payment, up to a total which is the lesser of the Actual Cost of Alterations or the Unamortized Allowance.