Tenant Improvement Deposit definition

Tenant Improvement Deposit means the sum of $220,000, $110,000 of which shall be deposited by Tenant with Landlord at such time as Landlord receives the building permit from the City of Austin for the construction of the Tenant Improvements, and $110,000 of which shall be payable on the Completion Date. Tenants failure to timely deposit the Tenant Improvement Deposit with Landlord shall constitute a Tenant Delay. The Tenant Improvement Deposit will be used by Landlord to reimburse Landlord for the costs of installing the Tenant Improvements. If Tenant is not in default at the termination of this Lease, then Landlord shall repay the Tenant Improvement Deposit to Tenant within thirty (30) days following the termination of this Lease. If Landlord transfers its interest in the Building during the term of this Lease, Landlord may assign its obligation to repay the Tenant Improvement Deposit to the transferee and upon assumption by such transferee of such obligation, Landlord shall have no further liability for the return of the Tenant Improvement Deposit.
Sample 1

Examples of Tenant Improvement Deposit in a sentence

  • Prior to commencement of the Landlord Improvements, Landlord may require Tenant to deposit with Landlord an additional sum equal to the difference of the estimated cost to complete the Landlord Improvements and the Landlord Contribution ("Tenant Improvement Deposit").

  • In the event Buyer has delivered a Tenant Improvement Deposit or Leasing Common Deposit to Escrow Holder in accordance with this Agreement, such amounts shall be disbursed in accordance with Exhibit G.

  • Any portion of the Tenant Improvement Deposit remaining on the Termination Date (as defined in Section 6 below) shall be released to Purchaser and all accrued interest shall be disbursed to Seller.

  • The portion of the Tenant Improvement Deposit attributable to a particular Earnout Space may not be reallocated by Seller to a different Earnout Space.

  • The portion of the Tenant Improvement Deposit attributable to a particular Vacant Space may not be reallocated by HTC to a different Vacant Space.

  • That portion of the Escrow Deposit identified as the sum of $49,560.00 is hereby referred to as the “Tenant Improvement Deposit.” The Tenant Improvement Deposit is attributable to the certain 3,304 square feet of tenant space in the Property which is not currently occupied by a tenant (the “Earnout Space”) as shown on Exhibit A.

  • Notwithstanding anything contained herein to the contrary, if the Completion Date does not occur on or before January 1, 2000 (the “Outside Completion Date”), for any reason whatsoever save and except for Tenant Delays, Tenant shall have the option, but not the obligation, to terminate this Lease at any time prior to the occurrence of the Completion Date, in which event Landlord shall immediately return to Tenant that portion of the Tenant Improvement Deposit previously deposited by Tenant with Landlord.

  • The Termination Date of this Escrow Agreement is the date which is twenty-five (25) months hereof with respect to the Tenant Improvement Deposit and the Leasing Commissions Deposit and shall be twenty (20) months hereof with respect to the Real Estate Tax Deposit.

  • Any portion of the Tenant Improvement Deposit remaining on the Termination Date shall be released to Inland.

Related to Tenant Improvement Deposit

  • 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 Work means the construction of the Tenant Improvements, together with any related work (including demolition) that is necessary to construct the Tenant Improvements.

  • Tenant Improvements Defined in Exhibit B, if any.

  • Landlord Work means the work, if any, that Landlord is obligated to perform in the Premises pursuant to a separate agreement (the “Work Letter”), if any, attached to this Lease as Exhibit C.

  • Landlord’s Work means the work of constructing the Tenant Improvements.

  • Tenant’s Work means all improvements, alterations, fixture, equipment, and signage installation, and furniture placement necessary or appropriate for the conduct of the Permitted Use, including all work described as Tenant’s Work on Exhibit D, attached (the “Work Letter”).

  • this Tenant Work Letter means the relevant portion of Sections 1 through 6 of this Tenant Work Letter.

  • Tenant Work All work installed or furnished to the Premises by Tenant in connection with Tenant’s initial occupancy pursuant to Rider 2 and the Workletter.

  • Work Letter means the work letter between Landlord and Tenant regarding the construction of the Tenant Improvements, if any, in the form of Exhibit C.

  • Building Work has the meaning given to it in section 6 of the Building and Construction Industry (Improving Productivity) Act 2016 (Cth);

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Construction Work means any work in connection with⎯

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Base Building Work means the base building work for the Building as described in this Manual.

  • Leasehold Improvements means all leasehold improvements situated in or on the Leased Real Property and owned by Seller.

  • Installation Work means the construction and installation of the System and the start-up, testing and acceptance (but not the operation and maintenance) thereof, all performed by or for Provider at the Premises.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Tenant Inducement Costs shall not include loss of income resulting from any free rental period, it being agreed that Seller shall bear the loss resulting from any free rental period until the date of Closing and that Purchaser shall bear such loss from and after the date of Closing.

  • Customer Premises Equipment or "CPE" means equipment employed on the premises of a Person other than a Carrier to originate, route or terminate Telecommunications (e.g., a telephone, PBX, modem pool, etc.).

  • Premises Building Partial Damage means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is less than fifty percent (50%) of the then Replacement Cost of the building.

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Punchlist means a list of items of Work to be completed or corrected by Contractor after Substantial Completion. Punchlists indicate items to be finished, remaining Work to be performed, or Work that does not meet quality or quantity requirements as required in the Contract Documents.

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;

  • Building Project means the aggregate combined parcel of land on a portion of which are the improvements of which the Premises form a part, with all the improvements thereon, said improvements being a part of the block and lot for tax purposes which are applicable to the aforesaid land.