Examples of Leasehold Improvement Allowance in a sentence
In the event the Tenant does not pay such aforementioned amount within thirty (30) days after demand, the Landlord shall have the right, without limitation to any other right or remedy for the collection of such amount, to deduct such amount from the Leasehold Improvement Allowance owing to the Tenant, or any advanced rent deposit or security deposit being held.
TENANT shall pay the excess of the Leasehold Improvement costs over the amount of the available Leasehold Improvement Allowance, except for change orders requested by LANDLORD for which LANDLORD is responsible pursuant to Section 9 below as stated in this Exhibit C to Lease Agreement.
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”).
If costs fall below the Leasehold Improvement Allowance, LANDLORD shall reduce TENANT’s Rent by the amount of unused Leasehold Improvement Allowance dollars.
The Leasehold Improvement Allowance shall be net of any costs and expenses incurred by Lessor either on its own behalf or on behalf of Lessee in connection with any alterations or renovations required by this Second Amendment, provided that Lessee shall reimburse Lessor for the actual third party out-of-pocket costs and expenses reasonably incurred by Lessor with respect to any consultants retained by Lessor in connection with Lessee’s performance of the Leasehold Improvements.