Tenant Improvement Costs definition
Tenant Improvement Costs shall include each and every cost of designing, constructing, engineering and approving the Tenant Improvements which shall include, but not be limited to, the following: (i) all payments to the Contractor for materials, labor, overhead, etc., for the construction of the Tenant Improvements; (ii) all payments to the Engineers and Architects to design the Tenant Improvements; (iii) all construction management and supervision fees; (iii) permitting and approval costs; (iv) taxes, fees, charges, and levies by any governmental agency for permits, inspections or approvals of the Tenant Improvements; (v) utilities incurred in the course of the construction of the Tenant Improvements; (vi) premiums for all insurance to be carried by Tenant under this Work Agreement; (vii) the Coordination Fee; (viii) any and all costs incurred to comply with laws interior to the Premises; (ix) costs of sprinkler and HVAC compliance with laws and distribution to meet the Tenant’s Approved Working Drawings; and (x) all costs incurred interior to the Premises for life-safety compliance. All matters which are not Tenant Improvement Costs may not be paid for, or used from the Tenant Improvement Allowance, which shall include, but not be limited to furniture, fixtures and equipment.
Tenant Improvement Costs means the actual aggregate cost for completing the Tenant Improvements, inclusive of, but not limited to (i) the costs of preparing the Preliminary Plans, the Drawings and Specifications, and the As Built Plans (all as defined below) (ii) all buildings permits and other governmental approvals required to be obtained in connection with the design, construction, and/or installation of the Tenant Improvements and (iii) a three percent (3%) construction management fee.
Tenant Improvement Costs means, collectively, all the actual costs of designing, engineering, permitting (including impact fees), and constructing the Tenant Improvements in accordance with the Final Plans (as amended by all Change Orders, as hereafter defined) and all other hard and soft costs associated with the preparation of the Premises for Tenant’s use and occupancy, including Tenant’s costs for design, architectural, and engineering consultants; all costs associated with the installation and completion of the Tenant Improvements; all conduit, cabling and wiring for Tenant’s telecommunications, computer and/or data systems; and all other furnishings, :fixtures and equipment permanently attached and made a part of the Premises required for Tenant’s use and occupancy of the Premises. Notwithstanding anything herein to the contrary, in no event shall the Allowance be used for the purchase of Tenant’s Property, other than conduit, cabling and wiring for Tenant’s telecommunications, computer and data systems in the Premises. If the Tenant Improvement Costs exceed the Allowance, Tenant will be solely responsible for and pay the full amount of such excess costs as and when due. In addition, Tenant shall pay to Landlord, within thirty (30) days after receipt of Landlord’s written demand therefor, a construction management and oversight fee equal to One and 50/100 Percent (1.50%) of the hard costs component of the total Tenant Improvement Costs for a Phase to compensate Landlord for reviewing the plans for the Tenant Improvements for such Phase, reviewing and processing Allowance Requests, and for costs incurred by Landlord in facilitating Tenant’s completion of the Tenant Improvements for such Phase. Landlord reserves the right to deduct such fee from the Allowance.
Examples of Tenant Improvement Costs in a sentence
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.
The Tenant Improvement Allowance shall be the maximum contribution by Landlord for the Tenant Improvement Costs, and the disbursement of the Tenant Improvement Allowance is subject to the terms contained hereinbelow.
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 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.
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.
More Definitions of Tenant Improvement Costs
Tenant Improvement Costs shall include but not be limited to all sums (1) paid to contractors for labor and materials furnished in connection with construction of the Tenant Improvements pursuant to Paragraph 2 below; (2) all costs, expenses, payments, fees, and charges whatsoever paid or incurred by Landlord to or at the direction of any city, county, or other governmental authority or agency which are required to be paid by Landlord in order to obtain all necessary governmental permits, licenses, inspections and approvals relating to the construction of the Tenant Improvements and the use and occupancy of the Premises, including without limitation all in lieu fees and utility fees; (3) engineering and architectural fees for services required in connection with the design and construction of the Tenant Improvements; and (4) premiums, if any, for course of construction insurance and for payment and completion bonds relating only to construction of the Tenant Improvements.
Tenant Improvement Costs. The term "Tenant Improvement Costs" shall mean the lesser of (a) the Tenant Improvement Cost Estimate, or (b) the sum of the following: (i) payments to third party contractors, subcontractors and materialman for the construction of the Tenant Improvements; (ii) reasonable fees paid to architects, engineers and other construction professionals (other than employees of Landlord or of entities in any way affiliated with Landlord) for services required in connection with the design and construction of the Tenant Improvements; (iii) fees paid to architects, space planners, designers, inspectors and other construction professionals in connection with the design of the Tenant Improvements; (iv) utility connection charges incurred by Tenant; (v) permit and license fees paid for use and occupancy permits required for Tenant to occupy the Premises; (vi) the amounts paid to governmental authorities or agencies for inspections and issuance of building permits and approvals for the Improvements (but not that portion of such amounts applicable to, or based on the value of, the Building Shell); (vii) a development fee (in lieu of any general conditions, overhead, profit or other fee) equal to eight percent (8%) of Tenant Improvement Costs. In no event shall Tenant Improvement Costs include (herein "Excluded Costs"): (i) charges and expenses for changes to either the Building Shell Plans or the Final Tenant Improvement Plans which have not been approved by Tenant in writing; (ii) wages, labor and overhead for overtime and premium time unless approved by Tenant in writing in Tenant's discretion; (iii) additional costs and expenses incurred by Landlord on account of any contractor's or subcontractor's default or construction defects; (iv) interest and fees for construction financing; (v) off-site management or other general overhead costs incurred by Landlord; (vi) bond premiums; (vii) costs for which Landlord has a right of reimbursement from others (including, without limitation, insurers and warrantors); (viii) the cost of bringing the Building Shell and surrounding lot into compliance with applicable building codes, environmental laws, or other statutes, laws, rules and regulations; (ix) costs of management, design and all other services provided by employees or affiliates of Landlord and the cost of any administration, profit and overhead for Landlord or any of its employees or affiliates in excess of the developer's fee mentioned above; (x) costs incurred as a result ...
Tenant Improvement Costs means all non-recurring hard costs and typical and reasonable soft costs (such as space design costs, architect’s fees and legal fees) incurred with respect to any Tenant Improvements.
Tenant Improvement Costs means and include any and all costs and expenses of the Work, including, without limitation, all of the following:
Tenant Improvement Costs means the total cost of (i) the preparation of the Tenant Improvement Working Drawings, (ii) the construction and installation of the Tenant Improvements, and (iii) all other construction costs associated improving the Premises for Tenant's occupancy excluding the Base Building Improvements.
Tenant Improvement Costs means the entire amount of all Tenant Improvement Costs, less any Tenant Improvements Allowance provided by Landlord; provided, however, that if Landlord does not provide a Tenant Improvements Allowance, then "Tenant's Share of Tenant Improvement Costs" shall mean the entire amount of all Tenant Improvement Costs. If required by any lender holding a security interest encumbering the land on which the Building will be situated, Tenant shall provide the Set-Aside Funds (as defined in Paragraph 5.
Tenant Improvement Costs means Tenant Allowance Payments, and costs required for Borrower to complete tenant improvements on the Property pursuant to its obligations under Approved Leases.