Definition of Leasehold Improvement Allowance


Leasehold Improvement Allowance means the amount set forth in Section 31.1 to be paid by the Landlord to the Tenant an account of the Tenant leasehold improvement expenditure;

Examples of Leasehold Improvement Allowance in a sentence

For purposes of interpreting the Bank Completion Guaranty, the undersigned represents and warrants that the construction work, completion of which is guaranteed by the undersigned for the benefit of the Bank includes the Base Building Improvements, the Base Systems, and the Core/Lobby/Finish Work and those of the Leasehold Improvements contemplated to be paid for by application of the Leasehold Improvement Allowance, as such terms are defined in the Lease.
LANDLORD shall provide TENANT with a Leasehold Improvement Allowance in the amount of $ [INSERT DOLLAR AMOUNT IN WORDS AND NUMBERS e.g, FIFTY and 00/100 Dollars ($50.00)] per square foot for a total of [INSERT DOLLAR AMOUNT IN WORDS AND NUMBERS, e.g, FIFTY THOUSAND and 00/100 Dollars ($50,000.00)] toward the cost of design, purchase and construction of Leasehold Improvements, including without limitation design, engineering, construction, and consulting fees ("Leasehold Improvement Costs").
For purposes of interpreting the Bank Completion Guaranty, you represent and warrant that the construction work, completion of which is guaranteed by the undersigned includes the Base Building Improvements, the Base Systems and the Core/Lobby/Finish Work, and those of the Leasehold Improvements contemplated to be paid for by application of the Leasehold Improvement Allowance, as such terms are defined in the Lease.
All costs relating to the Landlord's Work shall be deducted from the Leasehold Improvement Allowance, subject to the Tenant's prior written approval, which approval shall not be unreasonably withheld or delayed.
The Landlord shall provide the Tenant with an amount equal to Three Hundred Thousand Dollars ($300,000.00) plus G.S.T. (the "Leasehold Improvement Allowance") to be applied toward the cost of constructing leasehold improvements in the Premises (the "Leasehold Improvements").