Common use of Improvement Allowance Clause in Contracts

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “6310 Expansion Premises Improvement Allowance”) in a total amount equal to Three Hundred Twelve Thousand Seventy-Five and 00/100 Dollars ($312,075.00) (which amount was calculated based upon Five and 00/100 ($5.00) per Rentable Square Foot for each of the 62,415 Rentable Square Feet of space in the 6310 Expansion Premises) comprising the sum of (i) One Hundred Eighty-Two Thousand Two Hundred Twenty and 00/100 Dollars ($182,220.00) (i.e., Five and 00/100 Dollars ($5.00) per each of rentable square feet of the 6310 Initial Premises) (the “6310 Initial Premises Allowance”), and (ii) One Hundred Twenty-Nine Thousand Eight Hundred Fifty-Five and 00/100 Dollars ($129,855.00) (i.e., Five and 00/100 Dollars ($5.00) for each of the rentable square feet of the 6310 Must-Take Premises) (the “6310 Must-Take Premises Allowance”). The 6310 Initial Premises Allowance shall only be used for costs relating to the initial design, permitting, management and construction of the improvements which are permanently affixed to the 6310 Initial Premises, which improvements may include carpet, or as otherwise allowed pursuant to the express terms of the Lease, as amended, or this Work Letter Agreement (the “Improvements”) in the 6310 Initial Premises. The 6310 Must-Take Premises Allowance shall only be used for costs relating to the Improvements in the 6310 Must-Take Premises. Accordingly, in no event the 6310 Initial Premises Allowance be used by Tenant in any portion of the Building or Project other than the 6310 Initial Premises, and in no event shall the 6310 Must-Take Premises Allowance be used by Tenant, in any portion of the Building or Project other than the 6310 Must-Take Premises. Except as otherwise expressly set forth herein, in no event shall Landlord be obligated to make disbursements pursuant to this Work Letter Agreement in a total amount which exceeds the 6310 Expansion Premises Improvement Allowance. All Improvements for which the 6310 Expansion Premises Improvement Allowance has been made available shall, as more particularly identified in Section 8.5 of the Original Lease, be and become the property of Landlord.

Appears in 2 contracts

Samples: Office Lease, Office Lease (Dexcom Inc)

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Improvement Allowance. Provided that Tenant shall be entitled has fully performed all of its obligations under this Work Agreement and the Original Lease, as amended by the First Amendment, Landlord agrees to a one-time improvement provide to Tenant an allowance (the “6310 Expansion Premises "Improvement Allowance") in a total the amount equal to Three of Two Hundred Seven Thousand Five Hundred Twelve Thousand Seventy-Five and 00/100 Dollars ($312,075.00207,512.00) (which amount was calculated based upon Five and 00/100 or Eight Dollars ($5.008.00) per Rentable Square Foot for each rentable square foot of the 62,415 Rentable Square Feet of space in Premises), to be applied solely to the 6310 Expansion Premises) comprising the sum of Construction Costs; provided, however, that Tenant shall only be permitted to use (i) One up to Twenty-Five Thousand Nine Hundred EightyThirty-Two Thousand Two Hundred Twenty and 00/100 Nine Dollars ($182,220.0025,939.00) (i.e., Five and 00/100 Dollars ($5.00) per each of rentable square feet of the 6310 Initial Premises) (Improvement Allowance to defray the “6310 Initial Premises Allowance”), cost of installation for Tenant's telephone systems and local area network wiring and (ii) One Hundred Twentyup to Seventy-Nine Seven Thousand Eight Hundred Fifty-Five and 00/100 Seventeen Dollars ($129,855.0077,817.00) (i.e.of the Improvement Allowance to defray the cost of all space planning, architectural and engineering work related to the Tenant Improvements. Landlord shall pay, in addition to the Tenant Allowance, Two Thousand Five and 00/100 Hundred Ninety-Three Dollars ($5.002,593.00)(or ten cents ($0.10) for each per rentable square foot of the rentable square feet Premises) to defray the cost of all space planning, architectural and engineering work related to the Tenant Improvements. Subject to the provisions of Paragraph C.3, below, the Construction Costs shall be paid by Landlord to the extent of, and shall be deducted by Landlord from, the Available Allowance, as invoices therefor are rendered to Landlord as and when Construction Costs are actually incurred by Tenant; provided, however, that Landlord shall have received partial lien waivers and such other documentation as Landlord may reasonably require from the party requesting such payment, and Tenant shall have satisfied all of the 6310 Must-Take Premises) (other conditions set forth in Paragraph C.3, below. In the “6310 Must-Take Premises Allowance”). The 6310 Initial Premises Allowance shall only be used for costs relating to the initial design, permitting, management and construction of the improvements which are permanently affixed to the 6310 Initial Premises, which improvements may include carpet, event that Tenant does not expend all or as otherwise allowed pursuant to the express terms of the Lease, as amended, or this Work Letter Agreement (the “Improvements”) in the 6310 Initial Premises. The 6310 Must-Take Premises Allowance shall only be used for costs relating to the Improvements in the 6310 Must-Take Premises. Accordingly, in no event the 6310 Initial Premises Allowance be used by Tenant in any portion of the Building or Project other than Improvement Allowance for costs expressly permitted hereunder within twelve (12) months after the 6310 Initial PremisesExtension Term Commencement Date, and in no event shall the 6310 Must-Take Premises Allowance be used by Tenant, in any unused portion of the Building or Project other than the 6310 Must-Take Premises. Except as otherwise expressly set forth herein, in no event shall Landlord be obligated to make disbursements pursuant to this Work Letter Agreement in a total amount which exceeds the 6310 Expansion Premises Improvement Allowance. All Improvements for which the 6310 Expansion Premises Improvement Allowance has been made available shall, as more particularly identified in Section 8.5 of the Original Lease, shall be and become the property of retained by Landlord.

Appears in 1 contract

Samples: Extension Term Work Agreement (Questech Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “6310 Expansion Premises Improvement Allowance”) in a total amount equal to Three Hundred Twelve Thousand Seventy-Five and 00/100 Dollars ($312,075.00) (which amount was calculated based upon Five and 00/100 ($5.00) per Rentable Square Foot for each of the 62,415 Rentable Square Feet of space in the 6310 Expansion Premises) comprising the sum of (i) One Hundred Eighty-Two Thousand Two Hundred Twenty and 00/100 Dollars ($182,220.00) (i.e., Five and 00/100 Dollars ($5.00) per each of rentable square feet of the 6310 Initial Premises) (the “6310 Initial Premises Allowance”), and (ii) One Hundred Twenty-Nine Thousand Eight Hundred Fifty-Five and 00/100 Dollars ($129,855.00) (i.e., Five and 00/100 Dollars ($5.00) for each of the rentable square feet of the 6310 Must-Take Premises) (the “6310 Must-Take Premises Allowance”). The 6310 Initial Premises Allowance shall only be used for costs relating to the initial design, permitting, management and construction of the improvements which are permanently affixed to the 6310 Initial Premises, which improvements may include carpet, or as otherwise allowed pursuant to the express terms of the Lease, as amended, or this Work Letter Agreement (the “Improvements”) in the 6310 Initial Premises. The 6310 Must-Take Premises Allowance shall only be used for costs relating to the Improvements in the 6310 Must-Take Premises. Accordingly, in no event the 6310 Initial Premises Allowance be used by Tenant in any portion of the Building or Project other than the 6310 Initial Premises, and in no event shall the 6310 Must-Take Premises Allowance be used by Tenant, in any portion of the Building or Project other than the 6310 Must-Take Premises. Except as otherwise expressly set forth herein, in no event shall Landlord be obligated to make disbursements pursuant to this Work Letter Agreement in a total amount which exceeds the 6310 Expansion Premises Improvement Allowance. All Improvements for which the 6310 EXHIBIT B Expansion Premises Improvement Allowance has been made available shall, as more particularly identified in Section 8.5 of the Original Lease, be and become the property of Landlord.

Appears in 1 contract

Samples: Office Lease (Dexcom Inc)

Improvement Allowance. Tenant Notwithstanding anything to the contrary in the Lease, the Improvement Allowance shall be entitled to a one-time improvement allowance (the “6310 Expansion Premises Improvement Allowance”) in a total amount equal to Three Four Hundred Twelve Thousand Seventy-Five Nine Thousand Nine Hundred Eighty-Two and 00/100 No/100 Dollars ($312,075.00479,982.00) (which amount was calculated based upon Five and 00/100 (I.E., $5.00) per Rentable Square Foot 21.00 for each of the 62,415 Rentable Square Feet of space in the 6310 Expansion Premises) comprising the sum of (i) One Hundred Eighty-Two Thousand Two Hundred Twenty and 00/100 Dollars ($182,220.00) (i.e., Five and 00/100 Dollars ($5.00) per each of rentable 22,206 usable square feet of the 6310 Initial Premises plus $13,656.00 as set forth in Section 1, above). To reimburse Tenant for initial planning costs, Landlord shall pay Tenant a portion of the Improvement Allowance in the amount of Three Hundred Thirty-Three Thousand Ninety and No/100 Dollars ($333,090.00) (I.E., $15.00 per usable square foot of the Premises) (the “6310 Initial Premises Allowance”), "INITIAL ALLOWANCE AMOUNT") within ten (10) business days following the mutual execution and (ii) delivery of this First Amendment. The balance of the Improvement Allowance in the amount of One Hundred TwentyForty-Nine Six Thousand Eight Hundred FiftyNinety-Five Two and 00/100 No/100 Dollars ($129,855.00146,892.00) shall be disbursed by Landlord in accordance with the terms of Section 2.2 of the Tenant Work Letter attached to the Lease as Exhibit "D" (i.e.the "TENANT WORK LETTER"), Five provided that Landlord shall have no obligation to make any disbursements of the Improvement Allowance until Tenant's requests for payment exceed in the aggregate Three Hundred Thirty-Three Thousand Ninety and 00/100 No/100 Dollars ($5.00333,090.00) (I.E., the Initial Allowance Amount). Tenant agrees that the Initial Allowance Amount shall be spent by Tenant only for each Improvement Allowance Items (as set forth in Section 2.2 of the rentable square feet of the 6310 Must-Take Premises) (the “6310 Must-Take Premises Allowance”Tenant Work Letter). The 6310 Initial Premises Allowance shall only be used for costs relating to the initial design, permitting, management and construction of the improvements which are permanently affixed to the 6310 Initial Premises, which improvements may include carpet, or as otherwise allowed pursuant to the express terms of the Lease, as amended, or this Work Letter Agreement (the “Improvements”) in the 6310 Initial Premises. The 6310 Must-Take Premises Allowance shall only be used for costs relating to the Improvements in the 6310 Must-Take Premises. Accordingly, in no event the 6310 Initial Premises Allowance be used by Tenant in any portion of the Building or Project other than the 6310 Initial Premises, and in no event shall the 6310 Must-Take Premises Allowance be used by Tenant, in any portion of the Building or Project other than the 6310 Must-Take Premises. Except as otherwise expressly set forth herein, in In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter Agreement in a total amount which exceeds the 6310 Expansion Premises amount of the Improvement Allowance. All Improvements , as set forth above, and in no event shall Tenant be entitled to any credit for which any unused portion of the 6310 Expansion Premises Improvement Allowance has been made available shall, as more particularly identified in Section 8.5 (including the Initial Allowance Amount plus the remainder) not spent by Tenant for Improvement Allowance Items by the date which is the last day of the Original Leasecalendar month which is thirty-six (36) full calendar months after the Commencement Date. Tenant acknowledges that the Initial Allowance Amount is being disbursed by Landlord prior to the disbursement of the remainder of the Improvement Allowance and in the event the Lease is terminated for any reason (whether because of a Tenant default or otherwise) prior to the disbursement of the remainder of the Improvement Allowance, Tenant shall be and become required to repay in full to Landlord upon demand by Landlord any portion of the property of LandlordInitial Allowance Amount which has not yet been spent on Improvement Allowance Items.

Appears in 1 contract

Samples: Investment Technology Group Inc

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Improvement Allowance. Subject to the terms of this Work Letter, Tenant shall be entitled to two (2) improvement allowances in the total aggregate amount of One Million One Hundred Ninety-Six Thousand Eight Hundred Twenty-Seven and 00/100 Dollars ($1,196,827.00) (each an “Improvement Allowance” and, collectively, the “Improvement Allowances”) for the costs relating to the initial design and construction of improvements that are permanently affixed to the Premises (the “Improvements”). The Improvement Allowances shall consist of (i) a one-time improvement allowance (in the “6310 Expansion Premises Improvement Allowance”) in a total amount equal to Three of Nine Hundred Twelve Thousand Seventy-Five One Thousand Forty-Seven and 00/100 Dollars ($312,075.00) (which amount was calculated based upon Five and 00/100 ($5.00) per Rentable Square Foot for each of the 62,415 Rentable Square Feet of space in the 6310 Expansion Premises) comprising the sum of (i) One Hundred Eighty-Two Thousand Two Hundred Twenty and 00/100 Dollars ($182,220.00971,047.00) (i.e., Five and 00/100 Dollars ($5.00) 38.50 per each of rentable square feet foot of the 6310 Initial Premises) (the “6310 Initial Premises Allowance”), which may be applied toward the cost of Improvements in the Initial Premises only, and (ii) One a one-time improvement allowance in the amount of Two Hundred Twenty-Nine Five Thousand Eight Seven Hundred Fifty-Five Eighty and 00/100 Dollars ($129,855.00225,780.00) (i.e., Five and 00/100 Dollars ($5.00) for each 6.00 per rentable square foot of the rentable square feet of the 6310 Must-Take PremisesSpace) (the “6310 Must-Take Premises Space Allowance”). The 6310 Initial Premises Allowance shall only be used for costs relating to the initial design, permitting, management and construction of the improvements which are permanently affixed to the 6310 Initial Premises, which improvements may include carpet, or as otherwise allowed pursuant to be applied toward the express terms cost of the Lease, as amended, or this Work Letter Agreement (the “Improvements”) Improvements in the 6310 Initial Premises. The 6310 Must-Take Premises Allowance shall only be used for costs relating to the Improvements in the 6310 Must-Take PremisesSpace only. Accordingly, in no event the 6310 Initial Premises Allowance be used by Tenant in any portion of the Building or Project other than the 6310 Initial Premises, and in no event shall the 6310 Must-Take Premises Allowance be used by Tenant, in any portion of the Building or Project other than the 6310 Must-Take Premises. Except as otherwise expressly set forth herein, in In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter Agreement in the event that Tenant fails to immediately 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 6310 Expansion Premises Improvement Allowance. All Improvements Landlord shall not be obligated to disburse any monies from the Initial Premises Allowance for which a request has not been made prior to December 31, 2012, and any unused portion of the 6310 Expansion Initial Premises Allowance remaining as of such date shall remain with Landlord and Tenant shall have no further right thereto. Landlord shall not be obligated to disburse any monies from the Must-Take Space Allowance for which a request has not been made prior to December 31, 2015, and any unused portion of the Must-Take Space Allowance remaining as of such date shall remain with Landlord and Tenant shall have no further right thereto. Further, to the extent there are any funds remaining in the Initial Premises Allowance, Landlord shall not be obligated to disburse such funds for application toward the cost of Improvements in the Must-Take Space; and, likewise, to the extent there are any funds remaining or the Must-Take Space Allowance, Landlord shall not be obligated to disburse such funds for application toward the cost of Improvements in the Initial Premises, as the case may be. Except as otherwise expressly provided hereinbelow, all references in this Work Letter to the “Improvement Allowance” shall mean either the Initial Improvement Allowance has been made available shallor the Must-Take Space Improvement Allowance, as more particularly identified in Section 8.5 of the Original Lease, be and become the property of Landlordapplicable.

Appears in 1 contract

Samples: Office Lease (Okta, Inc.)

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