Definition of Tenant Improvement Costs


Tenant Improvement Costs means the actual costs of the Tenant Improvement Work, including the fees and expenses payable to Tenant's Architect, consultants and third party managers, design and development costs, fees for the Tenant Improvement Permits and construction costs. Tenant Improvement Costs shall not include, and the Tenant Improvement Allowance shall not be spent on, furniture, demountable partitions or other personal property.

Examples of Tenant Improvement Costs in a sentence

The cost of all such permits and approvals, including inspection and other building fees required to obtain the permits for the Tenant Improvements, shall be included as part of the Tenant Improvement Costs.
The Tenant Improvement Allowance shall be the maximum contribution by Landlord for the Tenant Improvement Costs and shall be subject to the provisions of Section 10 below.
The preceding notwithstanding, all Tenant Improvement Costs paid or incurred by Tenant prior to Landlord's approval of the Construction Documents in connection with the design and planning of the Tenant Improvements by Architect shall be paid from the Tenant Improvement Allowance, without any retention, within fourteen (14) days following Landlord's receipt of invoices, bills or statements from Architect evidencing such costs.
Tenant shall not be entitled to any credit, abatement or payment from Landlord in the event that the amount of the Tenant Improvement Allowance specified above exceeds the actual Tenant Improvement Costs.
Any costs related to such approved Change Request(s), Change Order and any delays associated therewith, shall be added to the Tenant Improvement Costs and shall be paid for by Tenant as and with any Excess Tenant Improvement Costs as set forth in Section 10 above.