Lessor’s Allowance. Lessor shall contribute up to One Million Nine Hundred and Seventy Thousand Dollars ($1,970,000) or Twenty Dollars ($20) per square foot towards construction of the Lessee Interior Improvements for Phase II (the " Phase II TI Allowance"), which is included in base rent.
Lessor’s Allowance. Concurrently with Lessee’s delivery to Lessor of (1) a building permit for Lessee’s Work and (2) written evidence that Lessee has received in Lessee’s bank account at least $20,000,000.00 from the sale of Series C Preferred Stock, Lessor shall deliver to Lessee $100,000.00 (“Lessor’s Allowance”) to be used to pay a portion of the cost of Lessee’s Work.
Lessor’s Allowance. Lessor shall contribute up to three million dollars ($3,000,000) towards construction of the Lessee Interior Improvements (the “TI Allowance”), which cost is included in the base rent, and Lessee shall pay in cash any amount above Lessor TI Allowance monthly on a prorated basis as the job proceeds. The TI Allowance will decrease base rent by $10.49 per $1,000 on 7 year lease if the entire $3,000,000 is not used. (Example: $200K Not Used X 10.49 = $2098 or $.087 per sq. ft. per month).
Lessor’s Allowance. Included in the rental rates above would be a Lessee Interior Improvements allowance for Phase II in the amount of Thirty Five Dollars ($35.00) per square foot. Landlord shall also make available an additional Five Dollars ($5.00) per square foot allowance to be amortized over the remaining initial term, at an interest rate of ten percent (10%). Such additional improvements, if used, shall increase the rental to be paid accordingly. Should the Lessee not utilize the full Thirty Five Dollars ($35.00) per square foot allowance for tenant improvements, then Lessee shall have the following options: (i) receive a rental decrease equal to the unused tenant improvement allowance amortized at ten percent (10%) over the term of the lease, (ii) the right to utilize, at a later time, any unused tenant improvement dollars for a period, not to exceed twelve (12) months from the Commencement Date of Phase II, or (iii) such dollars can be utilized by Lessee for the cost of moving expenses, security systems, phone systems and or cabling. Lessee has the right to allocate the full tenant improvement allowance over the Phase I and Phase II buildings collectively. In addition to the above, Lessor will give Lessee a credit of Two Hundred Thirty Seven Thousand Five Hundred Dollars ($237,500) in cash or credit to improvements.
Lessor’s Allowance. Lessor shall contribute up to Thirty Two Dollars ($32) per square foot towards construction of the Lessee Interior Improvements for Phase I (the “ Phase I TI Allowance”), which is included in base rent. The Phase I TI Allowance shall be a minimum of Twenty Dollars ($20) per square foot and Lessee may pay in cash any amount above Lessor and receive a credit of $13.39 per $l,000 per month.
Lessor’s Allowance. Lessor shall contribute up to One million Six Hundred Two Thousand One Hundred Fifty Dollars ($1,602,150) towards construction of the Lessee Interior Improvements for Phase I (the " Phase I TI Allowance").
Lessor’s Allowance. Upon installation of the Perimeter Fence in compliance with Paragraph 54, Lessor shall reimburse Lessee up to One Hundred Thousand Dollars ($100,000.00) for Lessee’s cost to acquire and install the Perimeter Fence. Lessee shall provide Lessor invoices evidencing such cost for payment by Lessor.
Lessor’s Allowance. Lessor hereby grants Lessee a construction allowance not to exceed One Hundred Thousand Dollars ($100,000) ("Construction Allowance"), which shall be used only as a credit towards the cost of improvements to Suites 4, 5 and 6 of the Premises.
Lessor’s Allowance. Concurrently with the approval by Lessor of the working plans and specifications and subject to adjustment as provided below, Lessor shall deliver to Lessee evidence of availability of $2,430,000.00 ("Lessor's Allowance") to be used to pay the cost of Lessee's Work. Lessor's Allowance shall be used to pay the fees, costs and expenses owed to the architects, engineers, general contractor, subcontractors and/or materials suppliers furnishing labor and materials to accomplish Lessee's Work. Lessor's Allowance shall also be used to pay for liability and course of construction insurance maintained by Lessor and/or Lessee during the completion of Lessee's Work and Lessor's Expansion Work. Lessor shall pay to Lessee Lessor's Allowance within ten days following delivery by Lessee to Lessor of (1) a copy of the certificate of occupancy and (2) lien releases upon final payment showing "$0.00" as the disputed amount from Lessee's contractor and all other subcontractors and material suppliers who furnished labor and materials to the Premises for Lessee's Work; provided, however, if there exists a dispute with respect to the amount owed to Lessee's contractor or a subcontractor or material supplier, Lessor shall only withhold an amount equal to 150 percent of the disputed amount and shall disburse to Lessee the balance of Lessor's Allowance. Lessor and Lessee agree that the amount of Lessor's Allowance as provided above has been calculated based upon an estimated completed rentable floor area for the Premises of 54,000 rentable square feet. If the approved plans for Lessor's Expansion Work (defined below) result in the estimated rentable floor area of the Premises being more or less than 54,000 square feet, then the amount of Lessor's Allowance shall be calculated by multiplying what Lessee and Lessor estimate to be the final rentable floor area of the Building following completion of Lessor's Expansion Work by $45.00 (e.g., if, based upon the approved plans for Lessor's Expansion Work, the estimated rentable floor area of the Building will be, upon completion, 54,300 square feet, then Lessor's Allowance would be $2,443,500.00). In addition to the amount of Lessor's Allowance, Lessor shall pay for Lessee's contractor to install in the Building an elevator.
Lessor’s Allowance. LESSOR agrees to pay a maximum of $900,000.00 for the Tenant Improvement Costs ("Allowance"). The Allowance shall be applied solely to pay the cost of the Tenant Improvements, and under no circumstances shall LESSEE be entitled to any payment on account of any unused portion of the Allowance following completion of the Tenant Improvements and payment of the Tenant Improvement Costs. The amount of the Allowance actually expended for payment of Tenant Improvement Costs shall be the amount used to determine the amount of the Allowance Amortization Charge under subsection 2.3 above. LESSOR shall pay its share of the Tenant Improvement Costs as construction progresses in the same manner that LESSEE is required to pay its Initial Contribution under subsection 4.4.3 of this Addendum.
