Examples of Improvement Allowance in a sentence
All Tenant Work will be designed, furnished and installed by Tenant at Tenant’s sole expense and shall not be included in Total Costs or chargeable against the Improvement Allowance.
Notwithstanding anything to the contrary contained in the Lease or this Work Letter, Tenant shall be solely responsible for all Total Costs exceeding the Improvement Allowance.
If City does not thereafter submit a request for application of the entire remaining Extension Leasehold Improvement Allowance to Landlord for desired improvements or abatement of rent by the applicable Outside Request Date, then any unused amount shall accrue to the sole benefit of Landlord and City shall not thereafter be entitled to any credit, abatement or other concession based on the unused Extension Leasehold Improvement Allowance.
If guaranteed maximum price approved by the City exceeds the Extension Leasehold Improvement Allowance (such amounts exceeding the Extension Leasehold Improvement Allowance being herein referred to as the "Excess Costs"), then City shall pay to Landlord such Excess Costs, within thirty (30) days following Landlord’s proper invoicing and completion of the work, whichever occurs later.
At City’s option, and upon prior written notice to Landlord delivered no later than the first anniversary of the commencement date for the applicable Extended Term (the “Outside Request Date”), City may use all or a part of the then unused Extension Leasehold Improvement Allowance to xxxxx rent.