Common use of Alterations Allowance Clause in Contracts

Alterations Allowance. (a) Upon Tenant's written request and satisfaction of the conditions set forth in Section 3.6(b) below, Landlord will contribute to the cost of any interior office and lab improvements to the Premises, cabling and signage (collectively, "Permitted Alterations") that Tenant hereafter performs in or to the Premises to the extent of the lesser of (i) One Million Fifty-Two Thousand Three Hundred Eighty-Six and 50/100 Dollars ($1,052,386.50) (calculated on the basis of $16.50 per rentable square foot in the Premises) or (ii) the actual cost of the Permitted Alterations (the lesser of the previously-described amounts being hereinafter referred to as the "Alterations Allowance"). The Alterations Allowance may only be applied to the payment or reimbursement of documented "hard costs" of labor and materials and "soft costs" relating to the Permitted Alterations. Tenant shall pay for all costs of Permitted Alterations in excess of the Alterations Allowance; provided, however, that, in addition to the Alterations Allowance, Landlord shall provide Tenant a "test fit" allowance not to exceed $6,378.10 towards the cost of preparing preliminary space plans and interior design plans relating to the Permitted Alterations (such amount to be reimbursed by Landlord to Tenant within thirty (30) days of reasonably detailed invoices therefor). (b) Provided that this Lease is then in full force and effect, Landlord shall pay the Alterations Allowance to Tenant within thirty (30) days after satisfaction of each of the following conditions: (i) Tenant's delivery to Landlord of invoices and other reasonably satisfactory evidence of the cost of the Permitted Alterations; (ii) with respect to any portion of the Permitted Alterations requiring a building permit, Tenant's delivery to Landlord of a certificate issued by Tenant's architect certifying, for the benefit of Landlord, that such portion of the Permitted Alterations has been completed in accordance with the plans approved by Landlord (excepting only minor field changes not inconsistent with the intent of such approved plans and any change orders approved by Landlord) and in compliance with all Applicable Requirements; (iii) Tenant's delivery to Landlord of lien releases, in statutory form, from the Tenant's contractor, major subcontractors, and any other persons and entities providing work or materials covered by such statement who have given a preliminary 20-day notice in accordance with California Civil Code Section 3097; and (iv) Tenant's delivery to Landlord of as-built plans and specifications for the Permitted Alterations, if appropriate (provided that, in all cases, Tenant shall deliver to Landlord reasonably detailed plans and specifications for its cabling). (c) If Tenant fails to submit reasonably satisfactory documentation requesting disbursement of the Alterations Allowance on or before December 31, 2010, Landlord shall have no further obligation to provide the Alterations Allowance or any remaining balance thereof to Tenant, nor shall Tenant be entitled to any credit against Rent for any unused portion.

Appears in 1 contract

Samples: Lease (ShoreTel Inc)

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Alterations Allowance. (a) Upon Tenant's written request and satisfaction of Notwithstanding anything to the conditions set forth contrary in Section 3.6(b) Paragraph 9 below, Landlord will shall contribute to toward the cost of any interior office the design, construction and lab improvements to the Premises, cabling and signage (collectively, "Permitted Alterations") that Tenant hereafter performs in or to the Premises to the extent installation of the lesser of Initial Alterations (iincluding, without limitation, Tenant’s Contractor’s fee and the Alteration Operations Fee) One Million Fiftyan amount not to exceed Sixty-Two Thousand Three Eight Hundred EightySeventy-Six Two and 50/100 Dollars ($1,052,386.5062,872.50) (calculated on the basis of $16.50 per rentable square foot in the Premises) or (ii) the actual cost of the Permitted Alterations (the lesser of the previously-described amounts being hereinafter referred to as the "Alterations Allowance"). The Alterations Allowance At Tenant’s option, Tenant may only be applied to the payment or reimbursement apply portions of documented "hard costs" of labor and materials and "soft costs" relating to the Permitted Alterations. Tenant shall pay for all costs of Permitted Alterations in excess of the Alterations Allowance; provided, however, that, in addition to the Alterations Allowance, Landlord shall provide Tenant a "test fit" allowance not to exceed $6,378.10 towards the cost of preparing preliminary space plans and interior design plans relating to the Permitted Alterations (such amount to be reimbursed by Landlord to Tenant within thirty (30) days of reasonably detailed invoices therefor). (b) Provided that this Lease is then in full force and effect, Landlord shall pay the Alterations Allowance to Tenant within thirty (30) days after satisfaction of each of the following conditions: (i) Tenant's delivery to Landlord of invoices and other reasonably satisfactory evidence of the cost of furniture, fixtures, equipment or moving costs (“Permitted Non-Construction Costs”). In no event may any portion of the Permitted Alterations; Alterations Allowance (iiA) with respect be applied to any portion of the Permitted Alterations requiring a building permit, Tenant's delivery to Landlord Premises which is then the subject of a certificate issued by Tenant's architect certifyingsublease, for the benefit of Landlord, that such (B) be used to prepare any portion of the Permitted Alterations has been completed Premises for a proposed subtenant or assignee or (C) be applied to free rent, excepts as set forth in accordance with the plans approved by Landlord (excepting only minor field changes not inconsistent with the intent of such approved plans and any change orders approved by Landlord) and in compliance with all Applicable Requirements; (iii) immediately following sentence. At Tenant's delivery to Landlord of lien releases, in statutory form, from the Tenant's contractor, major subcontractors, and any other persons and entities providing work or materials covered by such statement who have given a preliminary 20-day notice in accordance with California Civil Code Section 3097; and (iv) Tenant's delivery to Landlord of as-built plans and specifications for the Permitted Alterations, if appropriate (provided that, in all cases’s option, Tenant shall deliver may apply up to Landlord reasonably detailed plans Thirty-One Thousand Four Hundred Thirty-Six and specifications for its cabling). 25/100 (c$31,436.25) If Tenant fails to submit reasonably satisfactory documentation requesting disbursement of the Alterations Allowance on or before December 31to free rent. Further, 2010, Tenant shall not be entitled to receive (and Landlord shall have no further obligation to provide disburse) or apply to free rent all or any portion of the Alterations Allowance if Tenant is in default under the Lease at the time Tenant requests such disbursement or application. Notwithstanding anything to the contrary in this Paragraph 4.b.i., the Alterations Allowance shall be available for disbursement or application pursuant to the terms hereof only during the period commencing on the date hereof and ending on October 1, 2014 (the “Allowance Availability Period”). Accordingly, if any remaining balance thereof portion of the Alterations Allowance has not been utilized (and Tenant has not submitted to Landlord invoices evidencing such costs) or applied as free rent prior to the end of the Allowance Availability Period, such unused portion shall be forfeited by Tenant, nor shall Tenant be entitled to any credit against Rent for any unused portion.

Appears in 1 contract

Samples: Office Lease (Homeunion Holdings, Inc.)

Alterations Allowance. Notwithstanding anything to the contrary in Paragraph 9 of the Lease, Landlord shall provide Tenant with an allowance of up to Two Million Seven Hundred Seven Thousand Nine Hundred Twenty Dollars (a$2,707,920.00)(the "Alterations Allowance") Upon to be applied toward the cost of the Initial Alterations, of which not more than Three Hundred Twenty Eight Thousand Nine Hundred Twenty Dollars ($328,920.00) of the Alterations Allowance may be applied to the Initial Alterations in the Ground Floor Premises. Further, not more than One Hundred Sixty Seven Thousand Four Hundred Nine Dollars ($167,409.00) of the Alterations Allowance may be applied to Tenant's written request reasonable space planning, architectural and satisfaction engineering costs for the design of the conditions set forth in Section 3.6(bInitial Alterations. No portion of the Alterations Allowance may (A) below, Landlord will contribute be applied to the cost of equipment, trade fixtures, moving expenses, furniture, signage, computer cabling or free rent, (B) be applied to any interior office portion of the Premises which is then the subject of a sublease, or (C) be used to prepare any portion of the Premises for a proposed subtenant or assignee. Further, Tenant shall not be entitled to receive (and lab improvements Landlord shall have no obligation to disburse) all or any portion of the Alterations Allowance if Tenant is in default under the Lease at the time Tenant requests such disbursement. Notwithstanding anything to the Premisescontrary in this Paragraph 4.b., cabling and signage (collectively, "Permitted Alterations") that Tenant hereafter performs in or the Alterations Allowance shall be available for disbursement pursuant to the Premises to terms hereof only during the extent of the lesser of (i) One Million Fifty-Two Thousand Three Hundred Eighty-Six and 50/100 Dollars ($1,052,386.50) (calculated period commencing on the basis of $16.50 per rentable square foot in the Premises) or (ii) the actual cost of the Permitted Alterations Commencement Date and ending on December 1, 2005 (the lesser of the previously-described amounts being hereinafter referred to as the "Alterations AllowanceAllowance Availability Period"). The Accordingly, if any portion of the Alterations Allowance has not been utilized (and Tenant has not submitted to Landlord invoices evidencing such costs) prior to expiration of the Allowance Availability Period, such unused portion shall be forfeited by Tenant. Landlord shall disburse the Alterations Allowance for the Initial Alterations directly to Tenant's Contractor, or subcontractors, or to Tenant as Landlord and Tenant may only agree, in monthly installments. Landlord's disbursements shall be applied conditioned upon Landlord's receipt of (I) invoices of Tenant's Contractor furnished to Landlord by Tenant covering work actually performed, construction in place and materials actually delivered to the site (as may be applicable) describing in reasonable detail such work, construction and/or materials, (II) conditional lien waivers executed by Tenant's Contractor, subcontractors or suppliers, as applicable, for their portion of the work covered by the requested disbursement, and (III) unconditional lien waivers executed by Tenant's Contractor and the persons and entities performing the work or supplying the materials covered by Landlord's previous disbursement for the work or materials covered by such previous disbursements (all such waivers to be in the form prescribed by California law). No payment will be made for materials or reimbursement supplies not on site. Landlord may withhold the amount of documented "hard costs" any and all retention percentages provided for in original contracts or subcontracts until expiration of labor the applicable lien periods or receipt of unconditional lien waivers and materials and "soft costs" relating to full releases upon final payment (in the Permitted Alterationsform prescribed by California law) from Tenant's Contractor, subcontractors or suppliers, as applicable. Tenant shall pay for all costs of Permitted the construction of the Initial Alterations in excess of the Alterations Allowance; provided. Based on the estimated cost of the construction of the Initial Alterations (the "Estimated Costs"), however, that, in addition to the Alterations Allowance, pro rata share of the Estimated Costs payable by Landlord and Tenant shall be determined and an appropriate percentage share established for each (a "Share of Costs"). Tenant and Landlord shall provide Tenant a "test fit" allowance not to exceed $6,378.10 towards the cost of preparing preliminary space plans and interior design plans relating to the Permitted Alterations (such amount to be reimbursed by Landlord to Tenant within thirty (30) days of reasonably detailed invoices therefor). (b) Provided that this Lease is then in full force and effect, Landlord shall pay the Alterations Allowance to Tenant within thirty (30) days after satisfaction of each of the following conditions: (i) Tenant's delivery to Landlord of invoices and other reasonably satisfactory evidence of fund the cost of the Permitted Alterations; construction of the Initial Alterations (ii) with respect to any including the applicable portion of the Permitted Alterations requiring a building permitapplicable fees) as the same is performed, Tenant's delivery to Landlord of a certificate issued by Tenant's architect certifying, for the benefit of Landlord, that such portion of the Permitted Alterations has been completed in accordance with their respective Share of Costs for the plans approved by construction. Tenant's payments shall be made directly to Tenant's Contractor or the subcontractors or suppliers involved and Tenant shall furnish to Landlord copies of receipted invoices for such payments (excepting only minor field changes not inconsistent with describing in reasonable detail the intent of such approved plans and any change orders approved by Landlordwork, construction and/or materials applicable to the subject disbursement) and in compliance with all Applicable Requirements; (iii) Tenant's delivery to Landlord such waivers of lien releasesrights as Landlord may reasonably require. Notwithstanding anything to the contrary above, in statutory form, from at the Tenant's contractor, major subcontractors, and time Landlord makes any other persons and entities providing work or materials covered by such statement who have given a preliminary 20-day notice in accordance with California Civil Code Section 3097; and (iv) Tenant's delivery to Landlord of as-built plans and specifications for the Permitted Alterations, if appropriate (provided that, in all cases, Tenant shall deliver to Landlord reasonably detailed plans and specifications for its cabling). (c) If Tenant fails to submit reasonably satisfactory documentation requesting disbursement of the Alterations Allowance on or before December 31, 2010for application to the Initial Alterations, Landlord shall have no further obligation retain from the Alterations Allowance, as a partial payment of the Alteration Operations Fee, a proportionate amount of the Alteration Operations Fee based upon Landlord's reasonable estimation of the amount required to provide be withheld from each disbursement in order to ensure that the entire Alteration Operations Fee is retained over the course of construction of the Initial Alterations on a prorata basis. At such time as the Alterations Allowance or any remaining balance thereof has been entirely disbursed, Tenant shall, within fifteen (15) days of written demand, pay to TenantLandlord the remainder, nor shall Tenant be entitled if any, of the Alteration Operations Fee not yet paid to any credit against Rent for any unused portionLandlord.

Appears in 1 contract

Samples: Office Lease (Ask Jeeves Inc)

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Alterations Allowance. (a) Upon Tenant's written request and satisfaction of Notwithstanding anything to the conditions set forth contrary in Section 3.6(b) Paragraph 9 below, Landlord will shall contribute toward the cost of the design, construction and installation of the Initial Alterations (including, without limitation, Tenant’s Contractor’s fee and the Alteration Operations Fee provided for in Paragraph 9.a. below) an amount not to exceed One Million Seventy-One Thousand Nine Hundred Sixty-Six and No/100ths Dollars ($1,071,966.00) (the “Alterations Allowance”). No portion of the Alterations Allowance may (A) be applied to the cost of any interior office and lab improvements to the Premisesequipment, cabling and trade fixtures, moving expenses, furniture, signage or cabling, (collectively, "Permitted Alterations"B) that Tenant hereafter performs in or to the Premises to the extent of the lesser of (i) One Million Fifty-Two Thousand Three Hundred Eighty-Six and 50/100 Dollars ($1,052,386.50) (calculated on the basis of $16.50 per rentable square foot in the Premises) or (ii) the actual cost of the Permitted Alterations (the lesser of the previously-described amounts being hereinafter referred to as the "Alterations Allowance"). The Alterations Allowance may only be applied to the payment or reimbursement of documented "hard costs" of labor and materials and "soft costs" relating to the Permitted Alterations. Tenant shall pay for all costs of Permitted Alterations in excess of the Alterations Allowance; provided, however, that, in addition to the Alterations Allowance, Landlord shall provide Tenant a "test fit" allowance not to exceed $6,378.10 towards the cost of preparing preliminary space plans and interior design plans relating to the Permitted Alterations (such amount to be reimbursed by Landlord to Tenant within thirty (30) days of reasonably detailed invoices therefor). (b) Provided that this Lease is then in full force and effect, Landlord shall pay the Alterations Allowance to Tenant within thirty (30) days after satisfaction of each of the following conditions: (i) Tenant's delivery to Landlord of invoices and other reasonably satisfactory evidence of the cost of the Permitted Alterations; (ii) with respect to any portion of the Permitted Alterations requiring a building permit, Tenant's delivery to Landlord Premises which is then the subject of a certificate issued by Tenant's architect certifyingsublease, for the benefit of Landlord, that such or (C) be used to prepare any portion of the Permitted Alterations has been completed in accordance with Premises for a proposed subtenant or assignee. Notwithstanding anything to the plans approved by Landlord (excepting only minor field changes not inconsistent with the intent of such approved plans and any change orders approved by Landlord) and in compliance with all Applicable Requirements; (iii) Tenant's delivery to Landlord of lien releases, in statutory form, from the Tenant's contractor, major subcontractors, and any other persons and entities providing work or materials covered by such statement who have given a preliminary 20-day notice in accordance with California Civil Code Section 3097; and (iv) Tenant's delivery to Landlord of as-built plans and specifications for the Permitted Alterations, if appropriate (provided that, in all casescontrary herein, Tenant shall deliver not be entitled to receive (and Landlord reasonably detailed plans and specifications for its cabling). (cshall have no obligation to disburse) If Tenant fails to submit reasonably satisfactory documentation requesting disbursement all or any portion of the Alterations Allowance on or before December 31if Tenant is in default under the Lease at the time Tenant requests such disbursement, 2010but Tenant shall be entitled to receive the subject disbursement after such default is cured, Landlord shall have no further obligation subject to provide Tenant complying with all other conditions for the disbursement provided for herein within the Availability Period (as defined below). Notwithstanding anything to the contrary in this Paragraph 4.b., the Alterations Allowance or shall be available for disbursement pursuant to the terms hereof only during the fifteen (15) month period (the “Availability Period”) commencing on the Delivery Date. Accordingly, if any remaining balance thereof portion of the Alterations Allowance has not been utilized (and Tenant has not submitted to Landlord invoices evidencing such costs) prior to the end of the Availability Period, such unused portion shall be forfeited by Tenant, nor shall Tenant be entitled to any credit against Rent for any unused portion.

Appears in 1 contract

Samples: Office Lease (Salt Blockchain Inc.)

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