Common use of Budget For Tenant Improvements Clause in Contracts

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Landlord shall obtain a detailed breakdown by trade of the costs incurred or that will be incurred in connection with the design and construction of the Tenant Improvements (the “Budget”). The Budget shall be based upon the TI Construction Drawings approved by Tenant and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 5% of the TI Costs for monitoring and inspecting the construction of the Tenant improvements and Changes, which sum shall be payable from the TI Fund (as defined in Section 5(d). Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with monitoring the construction of the Tenant Improvements and Changes, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements or Changes, for disbursement by Landlord as described in Section 5(d).

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Landlord Tenant shall obtain a detailed breakdown breakdown, by trade trade, of the costs incurred or that which will be incurred incurred, in connection with the design and construction of the Tenant Improvements Tenant’s Work (the “Budget”). The Budget shall be based upon the TI Construction Drawings approved by Tenant Landlord and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 53% of the TI Costs (as hereinafter defined) for monitoring and inspecting the construction of the Tenant improvements and ChangesTenant’s Work, which sum shall be payable from the TI Fund (as defined in Section 5(d)Fund. Such Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with with, such monitoring of the construction of the Tenant Improvements and ChangesImprovements, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements or ChangesImprovements, for disbursement by Landlord as described in Section 5(d).

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Landlord shall obtain a detailed breakdown by trade of the costs incurred or that will be incurred in connection with the design and construction of the Tenant Improvements (the “Budget”). The Budget shall be based upon the TI Construction Drawings approved by Tenant and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 5% of the TI Costs for monitoring and inspecting the construction of the Tenant improvements Improvements and Changes, which sum shall be payable from the TI Fund (as defined in Section 5(d). Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with monitoring the construction of the Tenant Improvements and Changes, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements or Changes, for disbursement by Landlord as described in Section 5(d).

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Landlord Tenant shall obtain a detailed breakdown breakdown, by trade trade, of the costs incurred or that which will be incurred incurred, in connection with the design and construction of the Tenant Improvements Tenant's Work (the “Budget”"BUDGET"). The Budget shall be based upon the TI Construction Drawings approved by Tenant Landlord and shall include a payment to Landlord of administrative rent (“Administrative Rent”"ADMINISTRATIVE RENT") equal to 52% of the TI Costs (as hereinafter defined) for monitoring and inspecting the construction of the Tenant improvements and ChangesTenant's Work, which sum shall be payable from the TI Fund (as defined in Section 5(d)Fund. Such Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with with, such monitoring of the construction of the Tenant Improvements and ChangesTenant's Improvements, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements or ChangesImprovements, for disbursement by Landlord as described in Section 5(d).

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Landlord Tenant shall obtain a detailed breakdown breakdown, by trade trade, of the costs incurred or that which will be incurred incurred, in connection with the design and construction of the Tenant Improvements Tenant’s Work (the “Budget”). The Budget shall be based upon the TI Construction Drawings approved by Tenant Landlord and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 51 % of the TI Costs (as hereinafter defined) for monitoring and inspecting the construction of the Tenant improvements and ChangesTenant’s Work, which sum shall be payable from the TI Fund (as defined in Section 5(d)Fund. Such Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with with, such monitoring of the construction of the Tenant Improvements and ChangesTenant’s Improvements, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements or ChangesImprovements, for disbursement by Landlord as described in Section 5(d).