Hold Space Allowance definition

Hold Space Allowance prorated Expansion Space Allowance based on Hold Space Rent Commencement Date for applicable Hold Option Space over remainder of the First Extended Term.
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Examples of Hold Space Allowance in a sentence

  • If Lessee does not elect to utilize TS as its project manager, TS shall monitor the work on behalf of Lessor, for which TS shall be paid a fee of one percent (1%) of the construction bid for the Hold Space Improvements, such fee to be debited against the Hold Space Allowance.

  • The Hold Space Improvements shall be designed, constructed and performed and the Hold Space Allowance shall be disbursed in accordance with Section 12 of the Original Lease and the provisions of this Section 7(C) hereunder.

  • Lessee shall obtain at its sole expense all occupancy and building permits necessary for Lessee to lawfully improve and occupy the Hold Space during the then remaining Lease Term (and any extensions thereof), which may also be funded out of the Hold Space Allowance.

  • Lessee is responsible for the payment of all architectural and engineering fees, which shall be debited against the Hold Space Allowance.

  • In connection with the Hold Space Improvements, Lessor’s affiliate, Tishman Speyer (“TS”) shall, at Lessee’s election, act as Lessee’s project manager for which TS shall be paid a fee of three and one-half percent (3.5%) of the construction bid for the Hold Space Improvements, such fee to be debited from the Hold Space Allowance.