Definition of Permitted Leasehold Improvement Costs


Permitted Leasehold Improvement Costs means the following costs, in each case to be incurred by Lessee as agent for Lessor, subject to the rights of reimbursement therefore set forth in the Lease and the Participation Agreement: (a) all amounts paid or payable in connection with the designing, engineering, surveying, acquisition, installation, construction, maintenance, testing and validation of Permitted Leasehold Improvements, including, without limitation, the following: (i) soft costs, such as architectural fees, design fees, engineering fees and fees and costs paid in connection with obtaining project permits and approvals required by Legal Requirements; (ii) site preparation costs relating to Permitted Leasehold Improvements, including demolition costs; (iii) costs of offsite and other public improvements required as conditions of governmental approvals for the construction and installation of such improvements; (iv) all costs and expenses payable for supplies, materials, labor and profit relating to Permitted Leasehold Improvements under any construction contract; (v) payments (including nonrefundable deposits) to vendors or suppliers for specifically fabricated equipment and materials relating to Permitted Leasehold Improvements; (vi) internal labor costs of the Lessee attributable to such improvements; and (vii) increases in insurance premiums, taxes, utilities and similar carrying costs attributable to the construction or installation of such improvements, provided, that, in no event shall the aggregate amount of such costs and expenses exceed $60,000,000.
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