Common use of Improvement Allowance Clause in Contracts

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right thereto.

Appears in 2 contracts

Samples: Office Lease (Appdynamics Inc), Office Lease (Appdynamics Inc)

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Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of Two Million Seven Hundred Eleven Thousand Six Hundred Seventy and 00/100 Dollars ($2,711,670.00) (i.e., $65.00 per rentable square foot of Suite 700 the New Premises) for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 the New Premises. Using Building standard materials, components and finishes, Landlord shall cause the installation and/or construction of the Improvements in the New Premises (the “Improvements”), In addition, Landlord shall contribute up ) pursuant to an amount equal that certain Final Space Plan attached to $0.15 per rentable square foot of Suite 700 this Work Letter as Schedule 1 (the “Test-Fit EXHIBIT B ContributionFinal Space Plan) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution). In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay as and when due any portion of the “Over-Allowance Amount,” as defined in Section 4.2.14.3.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit ContributionAllowance. Notwithstanding the foregoing or any contrary provision of the Lease, as amended, all Improvements shall be deemed Landlord’s property under the terms of the Lease, as amended. Any unused portion of the Improvement Allowance remaining as of January 1December 31, 20172014, shall remain with Landlord and Tenant shall have no further right thereto.

Appears in 2 contracts

Samples: Office Lease (Appdynamics Inc), Office Lease (Appdynamics Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the "Improvement Allowance") in the amount of Five Million Eight Hundred Seventy-Four Thousand One Hundred Twenty and 00/100 Dollars ($65.00 5,874,120.00) (i.e., $45.00 per rentable square foot of Suite 700 the Premises) for the costs relating to the initial design and construction of the improvements desired by Tenant or otherwise necessitated thereby, which are permanently affixed to Suite 700 the Premises (the "Improvements"), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly timely pay any portion of the "Over-Allowance Amount," as that term is defined in in, and within the time frames more particularly set forth in, Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit ContributionAllowance. Notwithstanding the foregoing or any contrary provision of the this Lease, all Improvements shall be deemed Landlord’s 's property under the terms of the this Lease. Any unused portion of the Improvement Allowance remaining as of January March 1, 20172014 (the "Improvement Allowance Sunset Date"), shall remain with Landlord and Tenant shall have no further right thereto.; provided, however, such Improvement Allowance Sunset date shall be extended on a day -for-day basis for each day of any "Landlord Delay" (as that term is defined in Section 5.5 below). EXHIBIT B -1-

Appears in 1 contract

Samples: Office Lease (Entropic Communications Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of Fifteen and 00/100 Dollars ($65.00 15.00) per rentable square foot of Suite 700 the Premises located on the first (1st) floor of the Building, and Three and 00/100 Dollars ($3.00) per rentable square foot of the Premises located on the second (2nd) floor of the Building, for the costs relating to the initial design and construction of the improvements improvements, which are permanently affixed to Suite 700 the Premises (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly timely pay any portion of the “Over-Allowance Amount,” as defined that term is defined, and within the time frames more particularly set forth, in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit ContributionAllowance. Notwithstanding the foregoing or any contrary provision of the this Lease, all Improvements shall be deemed Landlord’s property under the terms of the this Lease. Any unused portion of the Improvement Allowance remaining as of January 1December 31, 20172010, shall remain with Landlord and Tenant shall have no further right thereto.. EXHIBIT B

Appears in 1 contract

Samples: Office Lease (Volcano Corp)

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Improvement Allowance. Tenant shall be entitled to a one-time an improvement allowance (the "Improvement Allowance") in the amount of up to, but not exceeding, Two Million Three Hundred Eighty-Four Thousand Two Hundred Thirty-Two Dollars ($65.00 per rentable square foot of Suite 700 2,384,232.00), to help Tenant pay for the costs relating to of the initial design design, permitting and construction of the improvements which are permanently affixed sprinkler renovation work in the 6290 Building pursuant to Suite 700 the construction bids attached hereto as Schedule 1 (collectively, the “Improvements”"Sprinkler Renovation Work"); provided, In additionhowever, that Landlord shall contribute up have no obligation to an amount equal disburse all or any portion of the Improvement Allowance to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect Tenant unless Tenant makes a request for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check disbursement pursuant to the Architect in the lesser amount terms and conditions of (a) the amount set forth in such invoice from the ArchitectSection 2.2 below prior to June 30, and (b) the amount of the Test-Fit Contribution2019. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit ContributionAllowance. Notwithstanding the foregoing Tenant shall not be entitled to receive any cash payment or credit against Rent or otherwise for any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining which is not used to pay for the Improvement Allowance Items (as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right theretodefined below).

Appears in 1 contract

Samples: Office Lease (Dexcom Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the "Improvement Allowance") in the amount of $65.00 5,793,150.00 (i.e., $75.00 per rentable square foot of Suite 700 the Premises) for the costs relating to the initial design and construction of the improvements improvements, which are permanently affixed to Suite 700 the Premises (the "Improvements"), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly timely pay any portion of the “Over-Allowance "Over‑Allowance Amount," as defined in Section 4.2.1, as and when required by such Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit ContributionAllowance. Notwithstanding the foregoing or any contrary provision of the this Lease, all Improvements shall be deemed Landlord’s 's property under the terms of the this Lease. Any Subject to the "Construction Risk Alternatives," as that term is defined in Section 4.2.1 below, any unused portion of the Improvement Allowance remaining as of January 1the date which is six (6) months following the Lease Commencement Date (subject to day-for-day extension to the extent of Landlord Delay, 2017the "Allowance Deadline"), shall remain with Landlord and Tenant shall have no further right thereto. In addition to (and not as part of) the Improvement Allowance, Landlord shall pay directly to Xxxxxxxxx Design Group a space planning allowance for Tenant's preparation of an initial space plan for the Improvements in an amount not to exceed $11,586.30 (i.e., $0.15 per rentable square foot of the Premises).

Appears in 1 contract

Samples: Office Lease (Retrophin, Inc.)

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