Improvement Costs. Only Improvement Costs of the types set forth in Exhibit 3 are deemed to be validly incurred Improvement Costs for purposes of this Agreement. Tenant must provide the Commissioner with a statement certified by Tenant, setting forth the aggregate amount of the Improvement Costs expended by Tenant for each Leased Space, with such detail as may be reasonably requested by the Commissioner. The certified statement must be submitted at the same time as the “as-built” drawings for the Leased Space. Tenant must make available to the Commissioner, at the Commissioner's request, receipted invoices for labor and materials covering all Improvement Costs. The Commissioner has the right to audit the Improvement Costs. If there is a discrepancy of 5% or more, the cost of the audit must be paid promptly by Tenant upon request. If the Tenant's actual Improvement Costs for any portion of the Leased Space are less than 95% of the amount set forth in Exhibit 3 for said portion of the Leased Space, Tenant must, within 30 days after the date of completion of the Work or the Date of Beneficial Occupancy, whichever is earlier, pay the City the difference between 95% of the amount set forth in Exhibit 3 and the actual Improvement Cost for said portion of the Leased Space.
Improvement Costs. Landlord shall reimburse Tenant for the Improvement Costs (as hereinafter defined) incurred in constructing the Tenant Improvements, up to an amount equal to Three Million Three Hundred Forty-Two Thousand Sixty-Six and 75/100 Dollars ($3,342,066.75) (the “Tenant Allowance”), as follows:
Improvement Costs. Lessee shall be responsible for the full and timely payment of all Improvement Costs, subject to Lessor’s disbursement of Lessor’s Contribution as provided in this Work Agreement. Lessor shall make disbursements from Lessor’s Contribution as invoices are rendered to Lessor, provided that Lessor has received partial or final (as applicable) lien waivers and such other documentation as Lessor may reasonably require from the party requesting such payment. Lessor shall have the right to deduct Lessor’s Fee from Lessor’s Contribution as and when Lessor makes disbursements from Lessor’s Contribution. Lessee agrees that Lessor’s Contribution must be applied relatively proportionately towards the payment of Improvements Costs for the entire Demised Premises.
Improvement Costs. The Tenant Improvement Costs shall mean and include any and all costs and expenses of the Improvements, including, without limitation, all of the following:
Improvement Costs. Provided that Tenant has made all deposits with Landlord with respect to the Excess Costs (as provided below), Landlord shall advance all Improvements Costs for the construction the Tenant Improvements up to an amount equal to the Improvement Allowance. It is contemplated that the Improvement Costs will exceed the Improvement Allowance ("EXCESS COSTS"), which Excess Costs shall be borne by Tenant. In this regard, upon the execution of this Lease, Tenant shall pay to Landlord the sum of THREE HUNDRED TWENTY-FOUR THOUSAND FOUR HUNDRED EIGHT DOLLARS ($324,408.00)("TENANT'S INITIAL ADVANCE"). On the date which is thirty (30) days [60 DAYS SEEMS TOO LONG UNDER THE PRESENT SCHEDULE] following the execution of this Lease, Tenant shall pay to Landlord an amount by which (a) the estimated total Improvement Costs which Landlord then expects to be incurred, exceeds (b) the sum of the Improvement Allowance and Tenant's Initial Advance. ("TENANT'S SECOND ADVANCE"). Tenant's Initial Advance and Tenant's Second Advance shall be applied by Landlord towards the payment of Improvement Costs after Landlord has expended the full amount of the Improvement Allowance. In no event shall Landlord be obligated to expend from its own funds (including funds advanced to Landlord from the Project lender) more than the sum of the Improvement Allowance.
Improvement Costs. County shall use good faith efforts to cause Non-Participating Property Owners to fund their fair share reimbursement of the costs of any improvements advanced or constructed by Developer through the Non- Participating Property Owners’ participation in the PVSP Fee Program and any other applicable Project Impact Fee program adopted to finance such improvement costs. In particular, and without limitation thereof, the County shall use good faith efforts to include, as a condition of development and any development agreement for a Non- Participating Property Owner’s property, to require the Non-Participating Property Owner to participate in and support the PVSP Fee Program and all other Project Impact Fee programs required to be supported by Developer hereunder.
Improvement Costs. The term "Improvement Costs" shall mean for ----------------- the Interior Improvements (to the extent applicable) the following "Included Costs", but not the following "Excluded Costs":
Improvement Costs. At Closing, Buyer shall have (i) paid to Seller an amount equal to Seller's actual and reasonable engineering, architectural and consulting fees and expenses incurred in connection with presently ongoing improvement projects for the Oregon Trail Shopping Center and (ii) assumed all of Seller's obligations under the construction contracts for such improvement projects.
Improvement Costs. Tenant shall be responsible for the full and timely payment of all Improvement Costs, subject to Landlord’s disbursement of Landlord’s Contribution as provided in this Work Agreement. Landlord shall make disbursements from Landlord’s Contribution as invoices are rendered to Landlord, provided that Landlord has received partial or final (as applicable) lien waivers and such other documentation as Landlord may reasonably require from the party requesting such payment. Landlord shall have the right to deduct Landlord’s Fee from Landlord’s Contribution as and when Landlord makes disbursements from Landlord’s Contribution. Tenant agrees that Landlord’s Contribution must be applied relatively proportionately towards the payment of Improvements Costs for the entire Premises.
Improvement Costs. The Improvements, with estimated quantities and prices are shown in Exhibit B attached hereto based on the Financing Plan (the “Estimated Costs”). Developer shall be entitled to TASP Fee Credits for all actual costs and expenses incurred for the design, permitting and construction of the Improvements, including, without limitation, any and all design fees and costs, bond costs, land acquisition costs, hard and soft construction costs, consulting fees and costs, engineering fees and costs, inspection costs, and fees and expenses payable to the City or other governmental or public utility that, with respect to each of the above items, are incurred for the permitting, plan check, inspection and construction of the Improvements, (“Improvement Costs”) provided however the Improvement Costs shall not exceed the Estimated Costs unless approved in accordance with Section 1.3 below.
