Common use of Tenant Improvement Allowance Clause in Contracts

Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Allowance (as defined in Section 12 of the Summary) for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Premises (the ‘Tenant Improvements”). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance, except to the extent specifically required by the terms of the Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Allowance has been utilized shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenant. 2.2

Appears in 4 contracts

Samples: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

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Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Expansion Premises Allowance (as defined in Section 12 Paragraph 9 of the Summarythis Amendment) for the costs relating to the initial design and construction of Tenant’s 's improvements, which are permanently affixed to the Expansion Premises (the Tenant Improvements”). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Expansion Premises Allowance, except to the extent specifically required by the terms of the this Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Expansion Premises Allowance has been utilized shall be deemed Landlord’s 's property under the terms of the Lease. In the event that Tenant shall fail fails to use the entire Tenant Improvement Expansion Premises Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Expansion Premises Allowance is to be applied to Tenant Improvements covering the entirety of the Expansion Premises such that, following the completion of the Tenant Improvements, the entire Expansion Premises has been built out by Tenant. 2.2

Appears in 3 contracts

Samples: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Allowance (as defined in Section 12 of the Summary) for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Premises (the Tenant Improvements”). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance, except to the extent specifically required by the terms of the Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Allowance has been utilized shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenant. 2.2.

Appears in 2 contracts

Samples: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Expansion Premises Allowance (as defined in Section 12 Paragraph 9 of the Summarythis Amendment) for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Expansion Premises (the Tenant Improvements”). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Expansion Premises Allowance, except to the extent specifically required by the terms of the this Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Expansion Premises Allowance has been utilized shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail fails to use the entire Tenant Improvement Expansion Premises Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Expansion Premises Allowance is to be applied to Tenant Improvements covering the entirety of the Expansion Premises such that, following the completion of the Tenant Improvements, the entire Expansion Premises has been built out by Tenant. 2.2.

Appears in 2 contracts

Samples: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Expansion Premises Allowance (as defined in Section 12 Paragraph 9 of the Summarythis Amendment) for the costs relating to the initial design and construction of Tenant’s 's improvements, which are permanently affixed to the Expansion Premises (the Tenant Improvements”). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Expansion Premises Allowance, except to the extent specifically required by the terms of the this Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Expansion Premises Allowance has been utilized shall be deemed Landlord’s 's property under the terms of the Lease. In the event that Tenant shall fail Xxxxxx fails to use the entire Tenant Improvement Expansion Premises Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Expansion Premises Allowance is to be applied to Tenant Improvements covering the entirety of the Expansion Premises such that, following the completion of the Tenant Improvements, the entire Expansion Premises has been built out by Tenant. 2.2

Appears in 1 contract

Samples: Office Lease (Recursion Pharmaceuticals, Inc.)

Tenant Improvement Allowance. Landlord will contribute to the costs of designing the Tenant Improvements and performing the Tenant Improvement Work, as depicted on the Approved TI Construction Drawings and any approved Plan Modifications, to the extent of the lesser of or (b) the actual cost of Permitted Allowance Items (as hereinafter defined) for the Tenant Improvement Work (the “Tenant Improvement Allowance”). Tenant shall be entitled to pay all costs in excess of the one-time Tenant Improvement Allowance (as defined in Section 12 for the design of the Summary) for Tenant Improvements and performance of the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Premises (the ‘Tenant Improvements”)Improvement Work. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter Agreement in a total an amount which exceeds the Tenant Improvement Allowance, except to . All costs associated with the extent specifically required by the terms construction of the Lease and this Tenant Work Letter. All Tenant Improvements shall be shared with Landlord on an “open-book” basis promptly upon request. Tenant shall not be entitled to a credit for which any unused portion of the Tenant Improvement Allowance has been utilized shall be deemed Landlordin the form of a rent credit, rent abatement or otherwise. Notwithstanding Tenant’s property under the terms of the Lease. In the event that Tenant shall fail election to use the entire Tenant Improvement Allowance within initially occupy only one (1) year following floor of the Delivery DatePremises, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to construct Tenant Improvements covering to the entirety of the Premises such that, following and the completion Tenant Improvement Allowance shall be equitably allocated to Tenant Improvements on each of the Tenant Improvements, floors of the entire Premises has been built out by Tenant. 2.2Premises.

Appears in 1 contract

Samples: Sublease (Zuora Inc)

Tenant Improvement Allowance. Tenant shall be entitled to the a one-time tenant improvement allowance (the “Tenant Improvement Allowance (as defined Allowance”) in the amount set forth in Section 12 5 of the Summary) Summary for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Premises (the Tenant Improvements”), except as otherwise provided herein. In Except as set forth herein, in no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance, except to . In the extent specifically required event that the Tenant Improvement Allowance is not fully utilized by Tenant on or before the terms of date that occurs twelve (12) months following the Lease Commencement Date, then such unused amounts shall revert to Landlord, and this Tenant Work Lettershall have no further rights with respect thereto. All Tenant Improvements for which the Tenant Improvement Allowance has been utilized made available shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord Lease and Tenant shall have no claim not be required to any such unused amounts. Tenant acknowledges that remove the Tenant Improvement Allowance is to be applied to Tenant Improvements covering upon the entirety expiration of earlier termination of the Premises such that, following the completion of the Lease Term. “Tenant Improvements” shall not include any Tenant trade fixtures, the entire Premises has been built out by Tenant. 2.2equipment, or Tenant personal property.

Appears in 1 contract

Samples: Sorrento Gateway (Sorrento Therapeutics, Inc.)

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Tenant Improvement Allowance. Tenant shall be entitled to the a one-time ---------------------------- tenant improvement allowance (the "Tenant Improvement Allowance (as defined Allowance") in Section 12 the amount of $27.00 per usable square foot of the Summary) Premises for the costs relating to the initial design and construction of Tenant’s improvements, 's improvements which are permanently affixed to the Premises (the "Tenant Improvements"). In addition, Landlord shall contribute an amount not to exceed $0.12 per usable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution remaining, if any, following the completion of construction of the Tenant Improvements shall be available for use by Tenant. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the sum of the Tenant Improvement Allowance, except to the extent specifically required by the terms of the Lease Allowance and this Tenant Work LetterLandlord's Drawing Contribution. All Tenant Improvements for which the Tenant Improvement Allowance has been utilized made available shall be deemed Landlord’s 's property under the terms of the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenant. 2.2.

Appears in 1 contract

Samples: Temporary Space Agreement (Ecommercial Com Inc)

Tenant Improvement Allowance. Tenant shall be entitled to the a one-time tenant improvement allowance (the “Tenant Improvement Allowance (as defined Allowance”) in the amount set forth in Section 12 13 of the Summary) Summary for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Premises (the Tenant Improvements”). No portion of the Tenant Improvement Allowance, if any, remaining after August 31, 2016 shall be available for use by Tenant and Tenant shall have no further rights with respect to such Tenant Improvement Allowance. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance, except to Allowance for the extent specifically required by the terms of the Lease and this Tenant Work LetterImprovements. All the Tenant Improvements and/or Tenant Improvement Allowance Items for which the Tenant Improvement Allowance has been utilized made available shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenant. 2.2.

Appears in 1 contract

Samples: Office Lease (TrueCar, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to an improvement allowance (the one-time "Tenant Improvement Allowance (as defined Allowance") in the amount set forth in Section 12 13 of the Summary) Summary for the costs relating to the initial design and construction of Tenant’s improvements, the improvements which are permanently affixed to the Premises (the "Tenant Improvements"). The Tenant Improvements shall be constructed on a floor by floor basis, with floors 1 and 2 of the Building constructed concurrently, and floor 3 of the Building constructed separately. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter 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 Tenant Improvement Allowance. Notwithstanding the foregoing or any contrary provision of this Lease, except to the extent specifically required by the terms of the Lease and this Tenant Work Letter. All all Tenant Improvements for which the Tenant Improvement Allowance has been utilized shall be deemed Landlord’s 's property under the terms of the this Lease. In Any unused portion of the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following remaining as of the Delivery Lease Commencement Date, such unused amounts shall be the sole property of remain with Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenant. 2.2further right thereto.

Appears in 1 contract

Samples: Office Lease (Roku, Inc)

Tenant Improvement Allowance. Landlord shall bear the cost of all of the Landlord's Work. Except as provided herein, Tenant shall be entitled bear the cost of all of the Tenant's Work. Landlord shall reimburse Tenant for a portion of the costs of the Tenant's Work which consist of improvements permanently affixed to and a part of the one-time Premises, in an amount not to exceed Seventy Five Thousand Dollars ($75,000) (the "Tenant Improvement Allowance"). The Tenant Improvement Allowance (as defined in Section 12 shall be paid to Tenant upon the satisfaction of the Summaryfollowing conditions: (a) for Tenant shall have supplied Landlord with documentation showing that Tenant's actual expenses in performing the costs relating Tenant's Work exceed the amount of the Tenant Improvement Allowance sought to the initial design be released; (b) Tenant shall provide Landlord with all appropriate lien releases by its Contractors, subcontractors and construction of Tenant’s improvementsvendors; (c) Tenant shall have supplied Landlord, which are permanently affixed to the Premises (the ‘Tenant Improvements”). In no event and Landlord shall Landlord be obligated to make disbursements pursuant have approved and attached to this Tenant Work Letter in lease as an addendum, a total amount which exceeds schedule of the improvements acquired, constructed or installed and paid for by the Tenant Improvement Allowance, except to the extent specifically required all of which shall be owned by the terms Landlord; and (d) all of the Lease and this improvements to be constructed by Tenant Work Letter. All Tenant Improvements for which in the Tenant Improvement Allowance has been utilized Premises shall be deemed Landlord’s property under completed in strict compliance with the terms of approved plans and specifications for the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenant. 2.2's Work.

Appears in 1 contract

Samples: Agreement (Star Telecommunications Inc)

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