Examples of Tenant Improvement Contract in a sentence
Lessor shall manage the construction of the Tenant Improvements for a construction management fee of 2.5% of the Tenant Improvement Contract amount (as the same may change by agreement of the parties) due and payable in nine equal monthly installments beginning on the first day of the calendar month following the calendar month in which the Budget is first approved.
Tenant shall deliver to Landlord or the Beneficiary either an amendment to the Letter of Credit, or a replacement Letter of Credit, in the increased TI Required Amount within ten (10) days after Tenant enters into the last of the Warm Shell Contract and the Tenant Improvement Contract.
All Warm Shell Improvements shall be constructed by Devcon Construction pursuant to the Warm Shell Contract, and all Tenant Improvements shall be constructed by the Tenant Improvement Contractor pursuant to the Tenant Improvement Contract, and Tenant shall be responsible for project management with respect to construction of the Warm Shell Improvements and the Tenant Improvements.
Tenant shall name authorized construction representatives for purposes of completing and coordinating the Tenant Improvement Contract with the Landlord Improvement Contract, including the name and contact information of a primary representative.
Simultaneously with Tenant's execution of the Tenant Improvement Contract and the Warm Shell Contract, Tenant shall enter into, and shall cause each of the Warm Shell Contractor and the Tenant Improvement Contractor to enter into, an agreement with Landlord and Tenant, in form and substance reasonably satisfactory to Landlord (the "Three Party Agreement").
The construction contract for the Tenant Improvements (the "Tenant Improvement Contract") shall be in form and substance acceptable to Tenant and approved by Landlord in its reasonable discretion, and shall include, without limitation, requirements (i) that Tenant's Contractor carry such insurance as Landlord may reasonably require, and (ii) that Landlord, at Landlord's sole option, may succeed Tenant and enforce the Construction Contract in the event of a termination of the Lease.
Failure of Landlord to so execute or so cause Landlord's Contractor to execute the Tenant Improvement Contract within ten (10) business days following Landlord's receipt of Tenant's Request and Acceptance Notice shall constitute a material default of Landlord hereunder, which, notwithstanding any other provision of this Lease to the contrary, shall permit Tenant to thereafter terminate this Lease by written notice to Landlord.
Upon determination of acceptable Approved Plans and Specifications, Tenant and Tenant Improvement Contractor shall enter into the Tenant Improvement Contract and Landlord shall make the Premises Shell available for installation of the Tenant Improvements.
The final plans and specifications for Tenant Improvements prepared pursuant to the foregoing, as revised, modified and supplemented from time to time by Change Orders for the Tenant Improvements, are herein referred to as the "FINAL PLANS." On or before December 11, 2006, Landlord shall cause Landlord's Contractor to provide Tenant with a written proposed guaranteed maximum price (the "GUARANTEED MAXIMUM PRICE") for the Tenant Improvement Contract (as defined below in this Section 14.02).
Landlord shall execute the Tenant Improvement Contract and shall cause Landlord's Contractor to execute the Tenant Improvement Contract upon written request from Tenant to Landlord that Landlord initiate construction of the Tenant Improvements, which written request shall also include Tenant's written acceptance of all of the final terms of the Tenant Improvement Contract ("TENANT'S REQUEST AND ACCEPTANCE NOTICE").