TI Costs means tenant improvement costs and allowances incurred by First Mortgage Borrower in connection with renewing existing Leases or executing new Leases for space located in the Mortgaged Property.
TI Costs means all Tenant Core and Shell Costs (as defined in the Work Letter) and all costs and expenses of performing the TI Work, including without limitation the hard and soft costs of (i) construction, (ii) the Construction Management Fee (as such term is defined in the Work Letter) and any Project or construction management fees paid by Tenant to an unaffiliated third party (such fees not to exceed three percent (3%) of the TI Allowance), (iii) space planning, design, architect, engineering, data and phone cabling and other related services, (iv) costs and expenses for labor, material, equipment, data and phone cabling and fixtures (including, without limitation, any of the Attached Property (as defined in Section 18.5), (v) building permits and other taxes, fees, charges and levies by governmental and quasi-governmental agencies for permits or for inspections of the Tenant Improvements, and (vi) the Warm Shell Costs. In no event shall the TI Allowance be used for: (w) the purchase of any furniture, personal property or other non-building system equipment, (x) costs resulting from a Tenant Delay, (y) costs resulting from any default by Tenant of its obligations under this Lease, or (z) costs that are recoverable or reasonably recoverable by Tenant from a third party (e.g., insurers, warrantors, or tortfeasors). In the event the estimated total TI Costs (as set forth in the Budget) exceed the TI Allowance, Tenant shall deposit with Landlord such overage (the “TI Allowance Excess”), within five (5) business days of receiving the Budget (the “TI Deposit”). In the event Landlord determines the estimate of the TI Costs set forth in the Budget underestimates the amount of TI Costs so that the TI Deposit will not be sufficient to cover the TI Allowance Excess, then Landlord shall communicate the same to Tenant and, if required by Tenant, the parties shall discuss revisions to the Budget and Tenant may make a TI Tenant Change Order Request to reduce TI Costs, and unless the TI Costs are reduced to be within the Budget and previously paid TI Deposit, Tenant shall promptly pay the additional amount to Landlord, and such additional amount shall be added to the TI Deposit. If the sum of the TI Allowance plus the TI Deposit is not sufficient to cover the TI Costs, Tenant shall reimburse Landlord the difference between (a) the TI Costs and (b) the sum of the TI Allowance and the TI Deposit. However, Landlord shall be solely responsible for any costs related to the Tenant I...
TI Costs means costs and expenses incurred by Borrower for the payment of leasing commissions and expenditures related to repairs, replacements and improvements (including any tenant work allowance) in connection with the leasing of a Property or any portion thereof to a new tenant or the renewal or extension of a Lease to an existing tenant.
Examples of TI Costs in a sentence
Notwithstanding the foregoing or any language to the contrary contained herein, the payment of prevailing wages according to the current prevailing wage scale and compliance with applicable prevailing wage statutes shall be required where there is a Tenant's TI Contribution made towards the Total TI Costs of the Tenant Improvements to be performed.
Except as otherwise provided herein, all Total TI Costs shall be paid by Landlord and deducted from Landlord's TI Allowance.
Tenant shall have the right to audit the Total TI Costs at any time after the date of Tenant's Acceptance of the Premises.
Notwithstanding anything to the contrary set forth in this Section 5(d), Tenant shall be fully and solely liable for TI Costs and the cost of Minor Variations in excess of the TI Allowance.
If Tenant fails to deposit any Excess TI Costs with Landlord, Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and the right to assess a late charge).
More Definitions of TI Costs
TI Costs means the total of all costs incurred by Landlord in connection with or allocable to the construction, installation and financing of the Initial Tenant Improvements, including, without limitation, design costs, permitting fees, interest and financing fees.
TI Costs. The cost of the Tenant Improvements determined in accordance with EXHIBIT C. Wherever applicable in this Lease, the TI Costs shall be deemed to be amortized on a straight line basis over a ten (10) year period commencing on the Rent Commencement Date.
TI Costs incurred in the construction of the Tenant Improvements in the Premises, and the design and preparation of the Approved Plans, Preliminary Plans and Permit Drawings, including but not limited to (i) Change Order Requests and any other revisions as required for approval by Landlord, Tenant, and/or the DBS to the extent such are incorporated into the tenant’s plans; and (ii) all necessary printing and distribution costs required to implement the purposes of this Exhibit
TI Costs means “Soft Costs” (as hereafter
TI Costs means: (a) the payment of architectural, engineering and consultant fees, and permits and construction costs in connection with the construction of the Tenant Improvements, including, without limitation: (i) the cost of procuring and installing Tenant’s voice and data cabling; (ii) the cost of electrical power and other utilities used in connection with the construction of the Tenant Improvements; (iii) the cost of preparing the Tenant Plans; (iv) all costs set forth in the Budget, including Landlord’s out-of-pocket expenses; and (v) the cost of Tenant-Requested Modifications (collectively, “TI Costs”). Notwithstanding anything to the contrary contained herein, the TI Allowance shall not be used to purchase any furniture, personal property or other non-Building system materials or equipment, including, nor shall the TI Allowance be used for the cost of demountable partitions (unless Tenant provides its written agreement that the same shall be the property of Landlord and shall remain with the Building).
TI Costs means any and all costs incurred in accordance with this Exhibit C and associated with the performance of Landlord's TI Work and any Tenant Work for which Tenant seeks reimbursement out of the TI Allowance, including (i) all amounts paid for labor, materials and equipment associated with, or in connection with, the performance of Landlord 's TI Work, including fees and costs paid to the TI GC (and any applicable subcontractors), contractor's Ojverhead, supervision, profit and all costs of payment and performance bonds (to the extent applicable to Landlord's TI Work), (ii) all permit fees applicable to the Tenant Improvements, (iii) all fixture fees and governmental inspection fees for Tenant Improvements (i.e., excluding base building tap fees, fixture fees and/or inspection fees), and related engineering fees incurred by Landlord, regardless of whether any of the foregoing were paid by Landlord prior to the commencement of construction C-7