Demolition Allowance definition

Demolition Allowance has the meaning given in section 24.2;
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Demolition Allowance means $18,500.00 ($1.35 per rentable square foot) contained in the Third Expansion Space. Tenant shall pay for all Demolition Costs in excess of the Demolition Allowance as and when billed therefor. Landlord shall be entitled to retain any portion of the Demolition Allowance not needed for Demolition Work necessary to prepare the Third Expansion Space for Tenant's Third Expansion Work. The Demolition Allowance will be disbursed
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Demolition Allowance means an amount equal to $1,300,000 increased by the consumer price index for each Lease Year after 2002 that has occurred through the date such amount is calculated. As used in this paragraph the phrase "Shell Condition" means on the upper level of Building 2 remove all tenant fit-out items to bottom of roof joist including all non-bearing walls, partitions, floor finishes, and infrastructure. Toilet facilities and mechanical and electrical services that support space lighting, heating and cooling requirements shall remain. Lighting fixtures integral to ceilings removed shall also be removed. HVAC distribution and return integral to walls and ceilings to be removed shall be stripped back to secondary branches. Electrical infrastructure integral to walls and ceilings to be removed shall be stripped back to main panels. Trenches, sumps, and other depressions in floor slab shall be filled or covered to the same floor bearing rating as the general floor slab. The lower level of Building 2, except for the Lobby and Elevator areas (where there will be no stripout work), will also be stripped of all tenant fit out items as for the upper level of Building 2, except those deemed appropriate for administrative and office support activities. Any damage or perforations of floor, roof or cladding caused by removal of these tenant improvements shall be repaired. Tenant shall not conduct any activity or make any improvements or installations, in any manner which would void or violate a roof membrane warranty. All articles of personal property and all trade fixtures, office machines and equipment, furniture and movable partitions owned by Tenant or installed by Tenant at its expense in the Premises shall be and remain the property of Tenant and may be removed by Tenant at any time during the Lease Term provided that Tenant shall repair any damage caused by such removal. If Tenant shall fail to remove all of its personal property from the Premises upon termination of this Lease, Landlord may, at its option, remove, store and dispose of said personal property without liability to Tenant for any loss thereof, and Tenant agrees to pay Landlord within thirty (30) days after the date of any demand by Landlord for reimbursement of any and all expenses incurred by Landlord in such removal, storage and disposal, including reasonable storage rental costs, disposal costs, court costs and attorneys' fees.
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Examples of Demolition Allowance in a sentence

  • The Demolition Allowance may be used only to pay for costs of demolition of existing conditions in the Relocation Premises.

  • Landlord shall disburse the Demolition Allowance in the same manner as the Construction Allowance, except that Section 9(a)(iv) above shall not be required and the Demolition Allowance must be used by June 30, 2019 or shall be deemed forfeited with no further obligation by Landlord with respect thereto.

  • In addition to the Base Rate and the Site Allowance/ Demolition Allowance, the following allowances may be paid to Employees.

  • If the Cost of the 8th Floor Demolition Work exceeds the Demolition Allowance, Tenant shall be responsible for the payment of all such excess.

  • The Landlord agrees that any portion of the Additional Premises Demolition Allowance not applied by the Tenant to reimbursement of the Additional Premises Demolition Work may be used by the Tenant as a credit against the Rental owing.

  • Landlord shall pay the Demolition Allowance subject to and in accordance with the procedures and requirements set forth in Section IV.B. below.

  • The General Allowance, Demolition Allowance and Restroom Allowance shall collectively be referred to herein as the “Tenant Improvement Allowance”.

  • Notwithstanding anything the contrary herein, Tenant may elect each of the Demolition Allowance and the Restroom Allowance to be paid in a single lump sum, without retention, upon Tenant’s completion of the demolition and restroom upgrades, as applicable.

  • It is expressly understood and agreed that the Additional Premises Demolition Allowance is to be paid for the purpose of reimbursing the Tenant for demolition work to be carried out by the Tenant on the Additional Premises (the “Additional Premises Demolition Work”).

  • Landlord shall disburse the Demolition Allowance to Tenant within 30 days after receiving copies of paid invoices from Tenant’s contractor or subcontractors for the amounts covered by the disbursement.