Unused Allowance. In the event that there remains any unused portion of the Tenant Improvement Allowance following all required disbursements by Landlord in connection with completing the Tenant Improvements, any such amount shall be retained by Landlord. Tenant shall have no entitlement to any excess of the Tenant Improvement Allowance not in good faith consumed in the construction of the Tenant Improvement Allowance Items.
Unused Allowance. In the event that the total amount of the Refurbishment Allowance is not fully applied or disbursed by Landlord by December 31, 2005 in accordance with the terms and conditions of this Tenant Work Letter (such unused amount to be referred to herein as the "Unused Allowance"), then Landlord shall provide Tenant with a credit against Base Rent in an amount equal to the Unused Allowance pursuant to either the "Lump Sum Alternative" or the "Amortized Alternative," as those terms are set forth hereinbelow, which alternative shall be elected by Landlord in its sole and absolute determination. To the extent Landlord elects the "Lump Sum Alternative," Tenant shall be provided a credit against the Base Rent next due and owing for the Premises (following December 31, 2005) in a total amount EXHIBIT B 571981.06/WLA X0000-000/0-0-00/xxx/xxx XXXXXX REALTY 0000 Xxxxxxxxx Xxxxx [STMicroelectronics, Inc.] equal to the Unused Allowance. To the extent Landlord elects the "Amortized Alternative," the amount of each Monthly Installment of Base Rent thereafter due during the initial Lease Term (i.e., commencing with the installment due and owing on January 1, 2006 and continuing through the installment due and owing on July 1, 2009), shall be reduced by an amount equal to the product of (A) the Unused Allowance, and (B) 0.02326 (i.e., a fraction, with a numerator of 1, and a denominator equal to the number of calendar months (43) in the then-remaining initial Lease Term). Except as expressly set forth herein with regard to the Unused Allowance, Tenant shall have no rights with respect to any unapplied or undisbursed portion of the Refurbishment Allowance. In the event Landlord elects the Amortized Alternative, the parties shall promptly execute an amendment to the Lease setting forth the new amount of the Base Rent computed in accordance with this Section 3. EXHIBIT B 571981.06/WLA K4064-066/6-8-04/pypir XXXXXX REALTY 0000 Xxxxxxxxx Xxxxx [STMicroelectronics, Inc.] EXHIBIT C 0000 XXXXXXXXX XXXXX NOTICE OF LEASE TERM DATES To: Re: Office Lease dated , 200 between , a ("Landlord"), and , a ("Tenant") concerning Suite on floor(s) of the office building located at , California. Gentlemen: In accordance with the Office Lease (the "Lease"), we wish to advise you and/or confirm as follows:
Unused Allowance. If any portion of the Construction Allowance remains unexpended after the earlier of: (a) the payment of the Permitted Costs, and (b) 210 days following the Commencement Date, then the unexpended portion of the Construction Allowance shall become and remain the sole property of Landlord, and neither Tenant nor Tenant’s Contractors shall have any right or interest therein.
Unused Allowance. No portion of the Allowance may be credited toward Annual Basic Rent or Additional Rent.
Unused Allowance. Upon notice from Tenant to Landlord (the “Election Notice”) delivered on or before the date (the “Outside Date”) which is ninety (90) days following the New Premises Commencement Date, Tenant shall be entitled to utilize any unused portion of the Improvement Allowance (but in no event in excess of $1.00 for each rentable square foot of the New Premises (i.e., in no event greater than $41,718.00)) for reimbursement of Tenant’s actual out of pocket costs incurred to hire a project manager to monitor construction of the Improvements (“Project Manager Costs”), provided that Tenant provides Landlord with all invoices and reasonable supporting documentation evidencing that such Project Manager Costs EXHIBIT B have been paid. Upon the occurrence of the Outside Date, any portion of the Improvement Allowance which has not been previously disbursed in connection with the Improvements and/or designated by Tenant in the Election Notice for reimbursement of Project Manager Costs shall be retained by Landlord, and Tenant shall have no right to use such amount. SECTION 3
Unused Allowance. Any allowance made available to Tenant under this Construction Agreement must be utilized for its intended purpose during the initial Term or be forfeited with no further obligation on the part of Landlord.
Unused Allowance. Any unused part of the Allowance shall be credited toward the first payments due from Tenant for the Annual Basic Rent and Additional Rent.
Unused Allowance. If the actual cost of the Improvements does not exceed the mprovement Allowance, Tenant may use up to $59,800.00 of the unused portion of the Improvement llowance (the "Maximum Amounf') to reimburse Tenant for the actual out-of-pocket costs it pays to nrelated third parties in order to (a) move its existing furniture and equipment into the Expansion Space,(b) urchase new furniture and equipment for use in the Expansion Space and (c) install telephone and omputer cabling in the Expansion Space (collectively, "Expenses"). If Tenant desires to use the unused ort on of the Improvement Allowance (not to exceed the Maximum Amount) to reimburse itself for Expenses, enant shall provide to Landlord bills, invoices and other information reasonably acceptable to Landlord to ocument monies paid by Tenant for Expenses, and Landlord shall reimburse Tenant within thi rty (30) days fter receiving such information for the lesser of the Maximum Amount and amount of the unused mprovement Allowance. After the Improvements are completed, Tenant shall have the right to make one equest for the reimbursement of Expenses (the "Reimbursement Request") and the Reimbursement Request shall include all Expenses for which Tenant requests reimbursement. Landlord shall have no bligation to reimburse Tenant for any Expense that is not included in the Reimbursement Request. Any ort on of the Improvement Allowance that has not been expended on or before December 31,2017 on the onstruction of the Improvements or on the reimbursement of Expenses shall be retained by Landlord, and enant shall have no further right to the use of such unused portion of the Improvement Allowance for any urpose. (i)
Unused Allowance. Upon the completion of the Tenant Improvements with respect to a portion of the Premises, as applicable, Tenant shall have the right, exercisable by written notice to Landlord following the twenty-fourth (24th) month of the commencement of the Term relative to such portion of the Premises, to elect to use any unused amount of the Tenant Improvement Allowance applicable to such portion of the Premises to offset Base Rent, Additional Rent, and other sums next becoming due under this Lease, not to exceed two (2) months’ Base Rent, Additional Rent, and other charges then applicable to such portion of the Premises.
Unused Allowance. If the actual cost of the Improvements does not exceed the
