Unused Allowance. In the event that there remains any unused portion of the Tenant Improvement Allowance following all required disbursements by Landlord in connection with completing the Tenant Improvements, any such amount shall be retained by Landlord. Tenant shall have no entitlement to any excess of the Tenant Improvement Allowance not in good faith consumed in the construction of the Tenant Improvement Allowance Items.
Unused Allowance. Except as provided below in this Section 6, Landlord shall only be obligated to make disbursements from the Refurbishment Allowance to the extent costs are incurred by Tenant for Refurbishment Allowance Items. All Refurbishment Allowance Items for which the Refurbishment Allowance has been made available shall be deemed Landlord’s property. Notwithstanding the foregoing, if Tenant uses less than the entire amount of the Refurbishment Allowance for Refurbishment Allowance Items, then Tenant may request, by providing written notice (“Request Notice”) to Landlord at any time after January 1, 2004 but no later than December 31, 2004, an amount (“Rent Credit”) equal to the lesser of the following amounts: (A) the remaining portion of the Refurbishment Allowance and (B) an amount equal to Ten Dollars ($10.00) per rentable square foot of the Premises. If Tenant timely delivers a Request Notice, the Rent Credit will be proportionately applied in equal amounts as a credit to Tenant’s monthly Basic Rental obligation for twenty-four (24) months, commencing with the first day of the month following Landlord’s receipt of the Request Notice. In addition, Tenant shall have the option in the Request Notice, to the extent such amount is available as a part of the Rent Credit, to request that up to Two Dollars ($2.00) per rentable square foot of the Premises (“Lindero Allowance”) be added to Tenant’s refurbishment allowance for permanently affixed improvements under the Lindero Amendment (as defined in Section 10 below), in which case the Lindero Allowance shall be deducted from the Rent Credit. If Tenant timely requests the Lindero Allowance in the Request Notice, the disbursement of the Lindero Allowance will be governed by the terms and conditions of the Lindero Amendment. Upon request from Landlord, Tenant shall execute commercially reasonable documentation regarding the application of the Rent Credit and/or the Lindero Allowance.
Unused Allowance. No portion of the Allowance may be credited toward Annual Basic Rent or Additional Rent.
Unused Allowance. Any allowance made available to Tenant under this Construction Agreement must be utilized for its intended purpose during the initial Term or be forfeited with no further obligation on the part of Landlord.
Unused Allowance. Upon notice from Tenant to Landlord (the “Election Notice”) delivered on or before the date (the “Outside Date”) which is ninety (90) days following the New Premises Commencement Date, Tenant shall be entitled to utilize any unused portion of the Improvement Allowance (but in no event in excess of $1.00 for each rentable square foot of the New Premises (i.e., in no event greater than $41,718.00)) for reimbursement of Tenant’s actual out of pocket costs incurred to hire a project manager to monitor construction of the Improvements (“Project Manager Costs”), provided that Tenant provides Landlord with all invoices and reasonable supporting documentation evidencing that such Project Manager Costs EXHIBIT B have been paid. Upon the occurrence of the Outside Date, any portion of the Improvement Allowance which has not been previously disbursed in connection with the Improvements and/or designated by Tenant in the Election Notice for reimbursement of Project Manager Costs shall be retained by Landlord, and Tenant shall have no right to use such amount. SECTION 3
Unused Allowance. Any unused part of the Allowance shall be credited toward the first payments due from Tenant for the Annual Basic Rent and Additional Rent.
Unused Allowance. Except as provided below in this Section 7, Landlord shall only be obligated to make disbursements from the Refurbishment Allowance to the extent costs are incurred by Tenant for Refurbishment Allowance Items. All Refurbishment Allowance Items for which the Refurbishment Allowance has been made available shall be deemed Landlord’s property. Notwithstanding the foregoing, if Tenant uses less than the entire amount of the Refurbishment Allowance for Refurbishment Allowance Items, then Tenant may request, by providing written notice (“Request Notice”) to Landlord at any time after January 1, 2006 but no later than December 31, 2006, an amount (“Rent Credit”) equal to the lesser of the following amounts: (A) the remaining portion of the Refurbishment Allowance and (B) an amount equal to Three and 50/100 Dollars ($3.50) per rentable square foot of the Premises. If Tenant timely delivers a Request Notice, the Rent Credit will be proportionately applied in equal amounts as a credit to Tenant’s monthly Basic Rental obligation for twenty-four (24) months, commencing with the first day of the month following Landlord’s receipt of the Request Notice. In addition, Tenant shall have the option in the Request Notice, to the extent such amount is available as a part of the Rent Credit, to request that up to Two Dollars ($2.00) per rentable square foot of the Premises (“Calabasas Allowance”) be added to Tenant’s refurbishment allowance for permanently affixed improvements under the Calabasas Amendment (as defined in Section 8 below), in which case the Calabasas Allowance shall be deducted from the Rent Credit. If Tenant timely requests the Calabasas Allowance in the Request Notice, the disbursement of the Calabasas Allowance will be governed by the terms and conditions of the Calabasas Amendment. Upon request from Landlord, Tenant shall execute commercially reasonable documentation regarding the application of the Rent Credit and/or the Calabasas Allowance.
Unused Allowance. If in connection with the exercise of the Right of First Opportunity or Right of First Offer set forth above, Tenant elects not to use all of the Allowance available to Tenant, Tenant shall be entitled to a reduction in Rent equal to the amount of the unused allowance amortized over the remaining Term of the Lease at 12.9% per annum.
Unused Allowance. The definition of “Unused Allowance” contained in Section 7 of the Work Letter attached to the Lease as Exhibit C is amended from “Any portion of the Allowance which exceeds the cost of the Landlord Work or is otherwise remaining after July 31, 2004” to “Any portion of the Allowance which exceeds the cost of the Landlord Work or is otherwise remaining after October 31, 2005”.
Unused Allowance. (a) If the final Cost of the TI Work is less than the Allowance, Tenant may draw upon such balance and to the extent thereof (only within the first 180 days after the Early Occupancy Date) up to $1.50 per square foot of NRA within the Premises to pay for Tenant’s cost of move-in and up to $2.00 per square foot of NRA within the Premises to pay for the installation of equipment, including the acquisition and installation of cabling, telecommunications and voice data equipment, but in no event may any balance of the Allowance be used for the acquisition of any furniture, fixtures or equipment. Further, any remaining balance of the Allowance may be drawn upon by Tenant for future Alterations to the Premises prior to the last twelve (12) months of the initial Term. Any items paid for (in whole or in part) with the Allowance shall be the property of Landlord upon acquisition thereof and, except as provided in Paragraph 33 of the Lease, Tenant shall not be required to remove same upon termination of the Lease. Tenant shall provide Landlord with reasonable documentation of such costs as a condition to any such draw. Any remaining balance of the Allowance not used prior to the last twelve (12) months of the initial Term shall be forfeited by Tenant and shall thereafter be the sole property of Landlord.
