Tenant Allowance definition
Examples of Tenant Allowance in a sentence
Tenant Allowance shall only be used for permanent leasehold improvements in the Demised Premises and under no circumstances shall the Allowance be used to pay for any items such as furniture, cabling, equipment, or trade fixtures, which are not affixed to the Property; provided, however, the Allowance may be used on cosmetic items such as paint, trim, and similarly related aspects of Tenant’s Work.
If Landlord fails to pay the Tenant Allowance when due, Tenant may, after fifteen (15) days’ advance written notice to Landlord of its intention to do so, offset against monthly Rent the amount of the Tenant Allowance due to Tenant but remaining unpaid, until the Tenant Allowance has been depleted by such offset.
Landlord shall pay to Tenant the Tenant Allowance as reimbursement toward T▇▇▇▇▇’s costs of designing, permitting and constructing Tenant’s Work.