Allowance Disbursement Clause Samples
The Allowance Disbursement clause defines the process and conditions under which specified funds or allowances are distributed to a party under the agreement. Typically, this clause outlines the timing, method, and documentation required for disbursing the allowance, such as monthly payments or reimbursements upon submission of receipts. Its core function is to ensure transparency and predictability in the allocation of funds, reducing the risk of disputes over payment timing or eligibility.
Allowance Disbursement. Notwithstanding anything to the contrary contained in this Amendment, Landlord shall not be required to disburse any portion of the Expansion Premises Allowance to Tenant until Tenant has provided to Landlord the Additional L - C described in paragraph 9 of this Amendment.
Allowance Disbursement. Tenant shall be responsible for the entire Construction Costs; provided, however, that Landlord shall provide to Tenant (i) a construction allowance in the amount of $20.00 per RSF of the Premises, or $1,931,240.00 (the “Construction Allowance”) to be applied toward Construction Costs. Landlord shall make disbursements of the available Construction Allowance to Tenant for Construction Costs incurred by Tenant as follows:
Allowance Disbursement. Landlord shall provide to Tenant a construction allowance in an amount not to exceed $11.50 per square foot of space within the Premises ($3,762.098.50; $11.50 x 327,139sf) (“Leasehold Improvements Allowance”) to be applied toward Construction Costs. Tenant shall be responsible for the Construction Costs in excess of the Leasehold Improvements Allowance (the positive difference between the Construction Costs and the Leasehold Improvements Allowance being “Tenant’s Contribution”). The Leasehold Improvements Allowance will be paid by Landlord in periodic payments as construction progresses on a pari passu basis, less a retainage of ten percent (10%), within thirty (30) days of receipt by Landlord of applications for payment from Tenant consistent with the provisions set forth below. In the event Landlord has disbursed to Tenant (or to the General Contractor) the total Leasehold Improvements Allowance, less a retainage equal to ten percent (10%) of the Leasehold Improvements Allowance, Tenant will be responsible for additional payments to the General Contractor sufficient to satisfy the General Contract and any obligations to the General Contractor due thereunder. Notwithstanding anything to the contrary herein, Landlord shall install, at its sole cost and expense, a 3,000A switchgear (the “Switchgear”) in the Building within a reasonable time after the Commencement Date and shall work together with ▇▇▇▇▇▇’s electrical consultant in good faith. Further, if Tenant subsequently replaces the Switchgear with a larger capacity switchgear, as part of the Leasehold Improvements or otherwise as allowed under the Lease, then the larger capacity switchgear shall become part of the Building and part of the Leasehold Improvements and Tenant shall be deemed the owner of the Switchgear. Landlord is currently storing metal studs and other interior building materials (the “Stored Materials”) for construction of interior improvements in the Building, which Stored Materials Landlord is willing to either (at Tenant’s option): (i) apply toward the Leasehold Improvements Allowance, or (ii) remove from the Building after execution of this Lease. ▇▇▇▇▇▇▇▇ agrees to coordinate with ▇▇▇▇▇▇ and the General Contractor on the suitability of the Stored Materials to be used by Tenant in the construction of the Leasehold Improvements, and to establish the value of the credit against the Leasehold Improvement Allowance, or, in the alternative if the parties are unable to agree on such credi...