Common use of Construction Allowance Clause in Contracts

Construction Allowance. Provided Tenant is not in default, Landlord agrees to contribute the sum of up to $10.00 per rentable square foot in the Premises as shown in the jointly approved final plans, which is currently estimated at One Hundred Seventy-Four Thousand, Five Hundred Forty Dollars ($174,540.00) (“Construction Allowance”) toward the cost of performing the Initial Alterations in preparation of Tenant’s occupancy of the Premises, plus one-half (1/2) the cost of each new demising wall being constructed in the Premises included in the Initial Alterations. For purposes of this Lease, a demising wall is a wall that separates the Premises from other tenants and the other areas of the Building. The Construction Allowance shall be payable to Tenant as a single payment following: (1) completion of the Initial Alterations (or the portion in the designated phase) including punchlist items as described below; (2) issuance of a final (not temporary) certificate of occupancy for the Premises (or the scope of work for the phase) by the applicable governmental agency(ies): (3) the certification of Tenant and its architect that the Initial Alterations (or for the work in the designated phase) have been installed in a good and workmanlike manner in accordance with the approved plans, and in accordance with applicable laws, codes and ordinances; (4) full and final contractor’s, subcontractor’s and material supplier’s waivers of liens which shall cover all Initial Alterations (or all work in the designated phase) and all other statements and forms required for compliance with the mechanics’ lien laws of the State of Utah; (5) general contractor and architect’s completion affidavits; (6)_plans and specifications for the initial Alterations, together with a certificate from an AIA architect that such plans and specifications comply in all material respects with all laws affecting the Building, Property and Premises; (7) Tenant furnishing Landlord with an accurate architectural “as-built” plan of the Initial Alterations as constructed, which plan shall be incorporated into this Exhibit D by this reference for all purposes, and (8) copies of all construction contracts for the Initial Alterations, together with copies of all change orders, if any; together with all such invoices, contracts, or other supporting data as Landlord or Landlord’s Mortgagee may reasonably require. The Construction Allowance shall be disbursed in the amount reflected on the receipted bills meeting the requirements above. Upon making payment of the Construction Allowance, Landlord and Tenant shall also jointly notify the escrow agent that all remaining funds in the escrow account may be returned to Tenant. Notwithstanding anything herein to the contrary, Landlord shall not be obligated to disburse any portion of the Construction Allowance during the continuance of an uncured default under the Lease, and Landlord’s obligation to disburse shall only resume when and if such default is cured.

Construction Allowance. Provided (a) Landlord will contribute to the costs of designing the Tenant is not in defaultImprovements and performing the Tenant Improvement Work, Landlord agrees as depicted on the Approved Working Drawings, to contribute the sum extent of up to the lesser of (i) One Hundred Ninety-Six Thousand Five Hundred Five Dollars ($10.00 196,505.00) (i.e., Five Dollars ($5.00) per rentable square foot in of the Premises as shown in Premises) or (ii) the jointly approved final plans, which is currently estimated at One Hundred Seventy-Four Thousand, Five Hundred Forty Dollars actual cost for such work ($174,540.00) (the “Construction Allowance”) toward the cost of performing the Initial Alterations in preparation of Tenant’s occupancy of the Premises, plus one-half (1/2) the cost of each new demising wall being constructed in the Premises included in the Initial Alterations). For purposes of this Lease, a demising wall is a wall that separates the Premises from other tenants and the other areas of the Building. The Construction Allowance shall be payable to Tenant as a single payment following: (1) completion of the Initial Alterations (or the portion in the designated phase) including punchlist items as described below; (2) issuance of a final (not temporary) certificate of occupancy for the Premises (or the scope of work for the phase) by the applicable governmental agency(ies): (3) the certification of Tenant and its architect that the Initial Alterations (or for the work in the designated phase) have been installed in a good and workmanlike manner in accordance with the approved plans, and in accordance with applicable laws, codes and ordinances; (4) full and final contractor’s, subcontractor’s and material supplier’s waivers of liens which shall cover all Initial Alterations (or all work in the designated phase) and all other statements and forms required for compliance with the mechanics’ lien laws of the State of Utah; (5) general contractor and architect’s completion affidavits; (6)_plans and specifications for the initial Alterations, together with a certificate from an AIA architect that such plans and specifications comply in all material respects with all laws affecting the Building, Property and Premises; (7) Tenant furnishing Landlord with an accurate architectural “as-built” plan of the Initial Alterations as constructed, which plan shall be incorporated into this Exhibit D by this reference for all purposes, and (8) copies of all construction contracts for the Initial Alterations, together with copies of all change orders, if any; together with all such invoices, contracts, or other supporting data as Landlord or Landlord’s Mortgagee may reasonably require. The Construction Allowance shall be disbursed in the amount reflected on the receipted bills meeting the requirements above. Upon making payment of the Construction Allowance, Landlord and Tenant shall also jointly notify the escrow agent that pay all remaining funds costs in the escrow account may be returned to Tenant. Notwithstanding anything herein to the contrary, Landlord shall not be obligated to disburse any portion excess of the Construction Allowance during for the continuance design and construction of an uncured default under the LeaseTenant Improvements. Tenant shall cause Tenant’s architect or Tenant’s Contractor to provide Landlord, prior to the commencement of construction of the Tenant Improvements, a good faith estimate of the total cost of constructing the Tenant Improvements. (b) The Construction Allowance may be applied only to the payment or reimbursement of: (i) costs of preparing the Approved Space Plan and Final Working Drawings, the cost of obtaining Permits and other similar approvals, and Landlord’s obligation to disburse shall only resume when the costs and if such default is curedexpenses incurred by Landlord in connection with coordinating and supervising the Tenant Improvement Work, including, without limitation, the Construction Administration Costs; and (ii) documented costs of labor and materials incorporated into the Tenant Improvements (excluding all costs of data and telephone cabling, and all costs of furnishings, fixtures, equipment, signage and other personal property, including switches, servers, routers and similar data and telecommunications equipment).

Construction Allowance. Provided Landlord will contribute to the costs of performing the Tenant is not in defaultImprovement Work, Landlord agrees as depicted on the Approved Working Drawings, to contribute the sum extent of up to $10.00 per rentable square foot in the Premises as shown in the jointly approved final plans, which is currently estimated at lesser of (a) One Million Six Hundred Seventy-Four Thousand, Five Sixty Nine Thousand Three Hundred Forty Fifty Dollars ($174,540.001,669,350) for the Tenant Improvement Work to the Phase I Premises and One Million Nine Hundred Twenty Eight Thousand Three Hundred Sixty Two and 50/100 Dollars ($1,928,362.50) for the Tenant Improvement Work to the Phase II Premises or (b) the actual cost for such work (such amount for each Phase being the “Construction Allowance”) toward the cost of performing the Initial Alterations in preparation of Tenant’s occupancy ” for such Phase). The amount of the PremisesConstruction Allowance for each Phase shall be disbursed pursuant to Section 6.2. Except as otherwise provided in Section 5.3 of this Work Letter, plus one-half below, Tenant shall pay all costs in excess of the Construction Allowance for the design and construction of the Tenant Improvements. Except as otherwise specified in this Work Letter, the Construction Allowance may be applied only to the payment or reimbursement of: (1/2i) the cost of each new demising wall being constructed in obtaining Permits; (ii) the Premises included in reasonable out of pocket costs paid by Landlord to any third-party consultant to review and approve the Initial Alterations. For purposes of this LeaseFinal Working Drawings, a demising wall is a wall that separates the Premises from other tenants and the other areas of the Building. The Construction Allowance shall be payable to Tenant as a single payment following: (1) completion of the Initial Alterations (or the portion Approved Working Drawings and costs incurred by Landlord in the designated phasereviewing proposed Change Orders; and (iii) including punchlist items as described below; (2) issuance documented costs of a final (not temporary) certificate of occupancy for the Premises (or the scope of work for the phase) by the applicable governmental agency(ies): (3) the certification of Tenant labor and its architect that the Initial Alterations (or for the work in the designated phase) have been installed in a good and workmanlike manner in accordance with the approved plans, and in accordance with applicable laws, codes and ordinances; (4) full and final contractor’s, subcontractor’s and material supplier’s waivers of liens which shall cover all Initial Alterations (or all work in the designated phase) and all other statements and forms required for compliance with the mechanics’ lien laws of the State of Utah; (5) general contractor and architect’s completion affidavits; (6)_plans and specifications for the initial Alterations, together with a certificate from an AIA architect that such plans and specifications comply in all material respects with all laws affecting the Building, Property and Premises; (7) Tenant furnishing Landlord with an accurate architectural “as-built” plan of the Initial Alterations as constructed, which plan shall be materials incorporated into this Exhibit D by this reference for the Tenant Improvements (excluding all purposescosts of furnishings, furniture, trade fixtures, equipment, signage and other personal property, including switches, servers, routers and similar data and telecommunications cabling and equipment) (8) copies of all construction contracts for the Initial Alterations, together with copies of all change orders, if any; together with all such invoices, contracts, or other supporting data as Landlord or Landlord’s Mortgagee may reasonably require. The Construction “Permitted Allowance shall be disbursed in the amount reflected on the receipted bills meeting the requirements above. Upon making payment of the Construction Allowance, Landlord and Tenant shall also jointly notify the escrow agent that all remaining funds in the escrow account may be returned to Tenant. Notwithstanding anything herein to the contrary, Landlord shall not be obligated to disburse any portion of the Construction Allowance during the continuance of an uncured default under the Lease, and Landlord’s obligation to disburse shall only resume when and if such default is curedItems”).

Construction Allowance. Provided Landlord will contribute to the costs of performing the Tenant is not in defaultImprovement Work, Landlord agrees as depicted on the Approved Working Drawings, to contribute the sum extent of up to $10.00 per rentable square foot in the Premises as shown in the jointly approved final plans, which is currently estimated at One Hundred Seventy-Four Thousand, lesser of (a) Three Million Five Hundred Forty Eighty Thousand Six Hundred Fifty Dollars ($174,540.003,580,650) or (b) the actual cost for such work (the “Construction Allowance”) toward the cost of performing the Initial Alterations in preparation of Tenant’s occupancy ). The amount of the Premises, plus one-half (1/2) the cost of each new demising wall being constructed in the Premises included in the Initial Alterations. For purposes of this Lease, a demising wall is a wall that separates the Premises from other tenants and the other areas of the Building. The Construction Allowance shall be payable to Tenant as a single payment following: (1) completion of the Initial Alterations (or the portion in the designated phase) including punchlist items as described below; (2) issuance of a final (not temporary) certificate of occupancy for the Premises (or the scope of work for the phase) by the applicable governmental agency(ies): (3) the certification of Tenant and its architect that the Initial Alterations (or for the work in the designated phase) have been installed in a good and workmanlike manner in accordance with the approved plans, and in accordance with applicable laws, codes and ordinances; (4) full and final contractor’s, subcontractor’s and material supplier’s waivers of liens which shall cover all Initial Alterations (or all work in the designated phase) and all other statements and forms required for compliance with the mechanics’ lien laws of the State of Utah; (5) general contractor and architect’s completion affidavits; (6)_plans and specifications for the initial Alterations, together with a certificate from an AIA architect that such plans and specifications comply in all material respects with all laws affecting the Building, Property and Premises; (7) Tenant furnishing Landlord with an accurate architectural “as-built” plan of the Initial Alterations as constructed, which plan shall be incorporated into this Exhibit D by this reference for all purposes, and (8) copies of all construction contracts for the Initial Alterations, together with copies of all change orders, if any; together with all such invoices, contracts, or other supporting data as Landlord or Landlord’s Mortgagee may reasonably require. The Construction Allowance shall be disbursed pursuant to Section 6.2. Except as otherwise provided in the amount reflected on the receipted bills meeting the requirements above. Upon making payment Section 5.3 of the Construction Allowancethis Work Letter, Landlord and below, Tenant shall also jointly notify the escrow agent that pay all remaining funds costs in the escrow account may be returned to Tenant. Notwithstanding anything herein to the contrary, Landlord shall not be obligated to disburse any portion excess of the Construction Allowance during for the continuance design and construction of an uncured default under the LeaseTenant Improvements. Except as otherwise specified in this Work Letter, the Construction Allowance may be applied only to the payment or reimbursement of: (i) the cost of obtaining Permits; (ii) the reasonable out of pocket costs paid by Landlord to any third-party consultant to review and Landlord’s obligation to disburse shall only resume when approve the Final Working Drawings, or the Approved Working Drawings and if such default is curedcosts incurred by Landlord in reviewing proposed Change Orders; and (iii) documented costs of labor and materials incorporated into the Tenant Improvements (excluding all costs of furnishings, furniture, trade fixtures, equipment, signage and other personal property, including switches, servers, routers and similar data and telecommunications cabling and equipment) (“Permitted Allowance Items”).