Carpet Allowance Clause Samples

A Carpet Allowance clause specifies an agreed-upon sum that the seller will provide to the buyer at closing to cover the cost of replacing or upgrading carpeting in the property. Typically, this amount is either credited toward the buyer’s closing costs or deducted from the purchase price, allowing the buyer to choose their own carpeting after the sale. The core function of this clause is to address concerns about worn or outdated carpets without requiring the seller to complete the work before closing, thereby facilitating the transaction and accommodating buyer preferences.
POPULAR SAMPLE Copied 4 times
Carpet Allowance. Landlord shall provide to Tenant a Carpet allowance not to exceed $1.00 per rentable square foot in the Premises (the “Carpet Allowance”) to be applied toward the Total Carpet Costs, as adjusted for any changes to the Carpet. The Carpet Allowance shall not be disbursed to Tenant in cash, but shall be applied by Landlord to the payment of the Total Carpet Costs, if, as, and when the cost of the Carpet is actually incurred and paid by Landlord. The Carpet Allowance must be used (that is, the installation of Carpet must be fully complete and the Carpet Allowance disbursed) within six months following the date of this Amendment or shall be deemed forfeited with no further obligation by Landlord with respect thereto, time being of the essence with respect thereto.
View SourceView Similar (2)
Carpet Allowance. Landlord shall provide to Tenant an allowance of up to Seven Thousand Three Hundred Fifty Dollars ($7,350) (the “Carpet Allowance”), which such Carpet Allowance shall be available to reimburse Tenant for the reasonable and customary third-party out-of-pocket costs and expenses actually incurred by Tenant for procuring and installing carpet in the Office Space (“Carpet Expenses”). Landlord shall reimburse Tenant for Tenant’s Carpet Expenses in an amount up to the amount of the Carpet Allowance within a reasonable period of time following Landlord’s receipt of a written request from Tenant setting forth the total amount incurred for Tenant’s Carpet Expenses accompanied by paid receipts and invoices from third parties and any other evidence Landlord may reasonably request to justify such a reimbursement. In the event Tenant’s Carpet Expenses exceed the Carpet Allowance, Tenant shall pay from another source of funds the amount by which ▇▇▇▇▇▇’s Carpet Expenses exceeds the Carpet Allowance prior to any disbursement of the Carpet Allowance by Landlord. In the event Tenant’s Carpet Expenses are less than the Carpet Allowance, the unused portion (the “Unused Allowance”) of the Carpet Allowance shall not be paid or refunded to Tenant or be available to Tenant as a credit against any obligations of Tenant under the Lease. ▇▇▇▇▇▇’s request for reimbursement from the Carpet Allowance for ▇▇▇▇▇▇’s Carpet Expenses must be properly submitted to Landlord prior to December 31, 2020 (the “Allowance Sunset Date”) or Landlord shall have no further obligation to make such a reimbursement hereunder. Tenant shall have no right to receive any portion of the Carpet Allowance at any time that Tenant is in default under the Lease beyond the expiration of any applicable notice and cure period. ​
View SourceView Similar (2)

Related to Carpet Allowance

  • Boot Allowance The District will pay $180 toward the purchase and/or repair of work boots for District Employees listed in the District’s Work Apparel Policy and/or at the discretion of the employee’s department manager. Payment will be made by the first full paycheck of the employee’s date of hire and annually thereafter. Boots must meet applicable OSHA standards for the duties assigned.

  • Shift Allowance In addition to the wage specified in sub-clause (1), read with sub- clause (12), a normal shift worker shall, in respect of his shift hours worked in any week, be paid an additional 12,5% on such wage.

  • Improvement Allowance Subject to the terms hereof, Landlord shall grant an allowance to Tenant in an amount not to exceed the aggregate of (a) Six Million Eight Hundred Seventy Thousand Dollars ($6,870,000.00) (the “Basic Improvement Allowance”) to be used solely to reimburse the Tenant for the Itemized Costs, and (b) One Million Three Hundred Thousand Dollars ($1,300,000.00) (the “HVAC Allowance” and together with the Basic Improvement Allowance, the “Improvement Allowance”) to be used solely to reimburse the Tenant for that portion of the Itemized Costs of replacing the HVAC units serving the Premises and related control systems . The Improvement Allowance shall be available for disbursement subject to and in accordance with the terms and conditions hereof (including the Work Letter), provided that at no time shall Landlord be required to make a disbursement of any of the Improvement Allowance if following such advance the aggregate amount of the Improvement Allowance advanced by Landlord would exceed Landlord’s Share of the aggregate amount of the Itemized Costs incurred by Tenant through such date. As used herein, “Landlord’s Share” means and refers to a fraction (expressed as a percentage), the numerator of which is the original amount of the Improvement Allowance and the denominator of which is the total amount of the Approved Budget (taking into account any increases in the Approved Budget, including increases as a result of change orders requested by Tenant and approved by Landlord in accordance with the terms of the Work Letter). Conditioned upon and provided that the Conditions Precedent (as defined below) are satisfied for each reimbursement request, and satisfied for each request no later than the date which is two (2) years after the Term Commencement Date (the “Required Completion Date”), Landlord shall pay to Tenant within thirty (30) days of satisfaction of the Conditions Precedent Landlord’s Share of the Itemized Costs The “Conditions Precedent” are: (a) Tenant is not in default under this Lease beyond any applicable notice and cure period provided in this Lease, and Tenant is in full compliance with all requirements under this Section 3.3 concerning Tenant’s Initial Work, (b) Tenant has complied with all of the terms and conditions of the Work Letter that are conditions precedent that required to be satisfied prior to the disbursement of any portion of the Improvement Allowance, and (c) Tenant has provided Landlord an itemized accounting of Tenant’s costs for such Tenant’s Initial Work for which it seeks reimbursement (“Itemized Costs”), of which not more than twenty-five (25%) percent shall be laboratory case work and soft costs, as more particularly set forth in the Work Letter.

  • Cleaning Allowance The University will pay for the cleaning of Department issued uniforms and necessary work clothing requiring cleaning worn by employees assigned to non-uniformed positions.

  • TI Allowance Landlord shall provide to Tenant a tenant improvement allowance (collectively, the “TI Allowance”) as follows: