Tenant Improvement Allowance definition

Tenant Improvement Allowance in the maximum amount of $200.00 per rentable square foot in the Premises, which is included in the Base Rent set forth in the Lease; and
Tenant Improvement Allowance means the amount required to be paid by Borrower to a Tenant under a Lease on account of or in lieu of work performed by such Tenant in the applicable space demised under such Lease.
Tenant Improvement Allowance means the sum of $316,020.00 (or $15.00 per square foot of rentable area times 21,068 square feet of rentable area) which Landlord agrees to pay towards the construction costs. Landlord agrees to pay architectural fees and design services up to $1.25 per rentable square foot. Any services performed by the architect above the $1.25 per rentable square foot shall be the responsibility of the Tenant and may be paid out of the Tenant Improvement Allowance to the extent funds are available. Notwithstanding anything to the contrary, provided there is any unused portion of the Tenant Improvement Allowance, up to 20% of the allowance can be used by the Tenant as a moving allowance or for communications costs for cabling and data. Tenant must submit invoices for such allowances for Landlord to pay. Xxxxxx Development will act as General Contractor for the construction of tenant improvements, competitively bidding each trade to at least three subcontractors, the typical five percent (5%) construction management fee will not be charged to Tenant or deducted from the Tenant Improvement Allowance. Landlord shall obtain bids based on the Approved Pricing Plans and construct the Work as described in the Approved Pricing Plans. If after finalizing the Approved Working Drawings, it is determined that the construction costs will exceed the amount of the Tenant Improvement Allowance (an “Excess”), then Tenant shall pay to Landlord the amount of such Excess within ten (10) days of written request from Landlord. Notwithstanding anything to the contrary, if Tenant fails to pay any Excess timely, Landlord shall not be obligated to commence construction of the Work and such delay shall constitute a Tenant Delay for each day beyond the ten (10) day period until the Excess is paid to Landlord. If Tenant elects not to use Xxxxxx Development as the General Contractor, Tenant understands that Landlord, or its designated agent, shall serve as construction manager for all of Tenant’s refurbishment and renovations in the refurbishment and renovations in the Premises and the fee for such service is 5% of the total cost of all work performed in connection with such refurbishment and renovations. Tenant agrees to cooperate with Landlord in completing any such improvements on a timely basis and Tenant has approved the preliminary space plan and pricing documentation. Additional space on the 3rd floor which Tenant elects to lease pursuant [****] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN...

Examples of Tenant Improvement Allowance in a sentence

  • As used in this Lease, the “Lease Concessions” shall be equal to the sum of: (A) the amount of all tenant improvement allowances (including, without limitation, the Tenant Improvement Allowance) disbursed by Landlord in connection with this Lease and not reimbursed by Xxxxxx; and (B) the amount of all real estate commissions paid to Tenant or any broker or brokerage company in connection with the consummation of this Lease.

  • The Expansion Improvement Allowance shall be distributed by Landlord in a manner consistent with the distribution of the Tenant Improvement Allowance with respect to the Initial Premises.

  • Tenant is entitled to a Tenant Improvement Allowance in the amount of $105.07 per rentable square foot of the Third Amendment Must-Take Space (i.e., $3,355,200.31) pursuant to Section 2(d) of the Second Amendment.

  • Commencing on the Commencement Date and continuing thereafter on the first day of each month during the Base Term, Tenant shall pay the amount necessary to fully amortize the portion of the Supplemental Tenant Improvement Allowance actually funded by Landlord, if any, as Additional Rent in equal monthly payments with interest at a rate of 8% per annum over the Base Term, which interest shall begin to accrue on the Commencement Date.

  • Any of the Supplemental Tenant Improvement Allowance and applicable interest remaining unpaid as of the expiration or earlier termination of the Lease shall be paid to Landlord in a lump sum at the expiration or earlier termination of this Lease.


More Definitions of Tenant Improvement Allowance

Tenant Improvement Allowance is specified in Article 1.
Tenant Improvement Allowance. The maximum amount to be expended by Landlord, if any, for the cost of Tenant Improvements (including architectural, engineering, permitting and space planning fees) which maximum shall not exceed Forty-Two Thousand Five Hundred Forty and 00/100 Dollars ($42,540.00), or Six and 00/100 Dollars ($6.00) per rentable square foot. There shall be no credit or payment due Tenant on account of any unexpended portion of the Tenant Improvement Allowance.
Tenant Improvement Allowance in the maximum amount of $525,712.50; and
Tenant Improvement Allowance has the meaning set forth in Item 4 of the Summary of Basic Terms.
Tenant Improvement Allowance means the maximum amount Landlord is required to spend toward the payment of Interior Improvement Costs (as defined in the Interior Improvement Agreement) for all Interior Improvements (as defined in the Interior Improvement Agreement) constructed in the Premises, which amount is Four Hundred Thirty-Six Thousand One Hundred Seventy-Six and 26/100 Dollars ($436,176.26).
Tenant Improvement Allowance shall have the meaning given in Section 22.3.
Tenant Improvement Allowance means the amount set forth in the Basic Lease Information as adjusted pursuant to the provisions thereof, which amount shall, except as otherwise provided in this Exhibit B, be paid by Landlord toward the cost of completion of the Tenant Improvements (collectively, the “Tenant Improvement Cost”). The Tenant Improvement Allowance shall be subject to adjustment upon the final determination of the Premisessquare footage by Landlord’s Architect. Notwithstanding the foregoing, (i) not less than an amount equal to Fifteen and 57/100ths Dollars ($15.57) per square foot of the Premises (the “Warm Shell Allowance”) shall be expended on the improvements generally described on Exhibit B-1 hereto, and (ii) the Tenant Improvement Allowance and the Deferred Allowance may not be used to pay the costs of Tenant Improvements that constitute furniture, equipment or trade fixtures or result in changes to the Base Building Improvements. If the Tenant Improvement Cost exceeds the Tenant Improvement Allowance, the difference shall be paid by Tenant in accordance with this Exhibit B. If the total cost of constructing and installing the improvements described on Exhibit B-1 is less than the Warm Shell Allowance, then the Tenant Improvement Allowance shall be reduced by the difference and the difference shall not be disbursed to Tenant.