Common use of Cost of Leasehold Improvements Clause in Contracts

Cost of Leasehold Improvements. Landlord shall pay all costs and expenses of the Leasehold Improvements (including labor, materials, construction management, architectural and engineering costs) up to the aggregate amount of $45.00 per square foot of Net Rentable Area of the Leased Premises (the “Improvement Allowance”). Landlord shall pay any invoices for consultants engaged directly by Tenant out of the Improvement Allowance within thirty (30) days after delivery. In the event that the cost and expense of constructing and installing any portion of the Leasehold Improvements exceeds the Improvement Allowance (the “Excess Cost”), then prior to Landlord’s awarding of the construction contract with respect to the Leasehold Improvements or, as applicable, Landlord performing any change order work, Tenant shall deposit with Landlord, one hundred ten percent (110%) of the amount of Landlord’s good faith, reasonable estimate of any Excess Cost, or security therefor in a form reasonably acceptable to Landlord. No more frequently than monthly, Landlord shall invoice Tenant for the portion of the Excess Cost expended by Landlord and unpaid by Tenant. Tenant shall pay the invoiced amount within ten (10) business days thereafter. Tenant shall be entitled to authorize Landlord to draw on its security for the invoice amount (plus any costs incurred by Landlord as a result of the draw), provided that the remaining security shall at all times be at least one hundred ten percent (110%) of the then-projected Excess Cost not yet expended. If Tenant pays the invoice amount, Landlord shall approve a reduction in the amount of the security, to an amount equal to one hundred ten percent (110%) of the then-projected Excess Cost not yet expended. In the event that any portion of the Improvement Allowance remains unused on the Leasehold Improvements Completion Date, Tenant shall have the option to have such unused amounts applied to Base Rent first due under this Lease Agreement. Notwithstanding anything in this Paragraph 7 to the contrary, the Improvement Allowance shall be reduced by an amount equal to the actual, reasonable cost (including labor, materials, construction management, architectural and engineering costs) of two (2) replacement restrooms to be constructed by Landlord on the eighth (8th) floor outside the Leased Premises, which replacement restrooms will be substantially similar in finish-out to the existing restrooms on the eighth (8th) floor and meet all applicable governmental codes, laws and regulations.

Cost of Leasehold Improvements. Landlord shall pay all costs and expenses of the Leasehold Improvements (including labor, materials, construction management, architectural and engineering costs) up to the aggregate amount of $45.00 per square foot of Net Rentable Area of the Leased Premises Manufacturing Space only (the “Improvement Allowance”). Landlord shall pay any invoices for consultants engaged directly by Tenant out of the Improvement Allowance within thirty (30) days after delivery. In the event that the cost and expense of constructing and installing any portion of the Leasehold Improvements exceeds the Improvement Allowance (the “Excess Cost”), then prior to Landlord’s awarding of the construction contract with respect to the Leasehold Improvements or, as applicable, Landlord performing any change order work, Tenant shall deposit with Landlord, one hundred ten percent (110%) of the amount of Landlord’s good faith, reasonable estimate of any Excess Cost, or security therefor in a form reasonably acceptable to Landlord. No more frequently than monthly, Landlord shall invoice Tenant for the portion of the Excess Cost expended by Landlord and unpaid by Tenant. Tenant shall pay the invoiced amount within ten (10) business days thereafter. Tenant shall be entitled to authorize Landlord to draw on its security for the invoice amount (plus any costs incurred by Landlord as a result of the draw), provided that the remaining security shall at all times be at least one hundred ten percent (110%) of the then-projected Excess Cost not yet expended. If Tenant pays the invoice amount, Landlord shall approve a reduction in the amount of the security, to an amount equal to one hundred ten percent (110%) of the then-projected Excess Cost not yet expended. In the event that any portion of the Improvement Allowance remains unused on the Leasehold Improvements Completion Date, Tenant shall have the option to have such unused amounts applied to Base Rent first due under this Lease Agreement. Notwithstanding anything in this Paragraph 7 to the contrary, the Improvement Allowance shall be reduced by an amount equal to the actual, reasonable cost (including labor, materials, construction management, architectural and engineering costs) of two (2) replacement restrooms to be constructed by Landlord on the eighth (8th) floor outside the Leased Premises, which replacement restrooms will be substantially similar in finish-out to the existing restrooms on the eighth (8th) floor and meet all applicable governmental codes, laws and regulations.

Cost of Leasehold Improvements. Landlord Lessor shall pay all costs and expenses of the Leasehold Improvements (including labor, materials, construction management, architectural and engineering costs) up to the aggregate amount of $45.00 per square foot of Net Rentable Area of the Leased Premises (the “Improvement Allowance”). Landlord shall pay any invoices for consultants engaged directly by Tenant out of the Improvement Allowance within thirty (30) days after delivery. In the event that the cost and expense of constructing and installing any portion of the Leasehold Improvements exceeds is estimated to exceed the Improvement Allowance (as reduced by the architectural and engineering costs, and the construction management fee as expressly provided for herein) (the additional is hereinafter the “Excess Cost”), then Lessee shall, prior to LandlordLessor’s awarding of the construction contract with respect to the Leasehold Improvements or, as applicable, Landlord Lessor performing any change order work, Tenant either of which will result in Excess Costs, within ten (10) days following Lessor’s demand (which shall include reasonable supporting detail of such Excess Cost), deposit with LandlordLessor, one hundred ten percent (110100%) of the amount of LandlordLessor’s good faith, reasonable estimate of any Excess Cost, or security therefor in . Lessor agrees to provide Lessee with a form final reconciliation between Lessor and Lessee as to such Excess Costs as soon as reasonably acceptable to Landlord. No more frequently than monthly, Landlord shall invoice Tenant for the portion possible after completion of the Leasehold Improvements. Notwithstanding the foregoing, in no event will Lessor award a construction contract or perform a change order which would result in Excess Cost expended by Landlord without first obtaining Lessee’s prior written consent and unpaid by TenantLessee shall not be liable for any Excess Costs that result from Lessor’s violation of this sentence. Tenant shall pay the invoiced amount within ten (10) business days thereafter. Tenant shall be entitled to authorize Landlord to draw on its security for the invoice amount (plus any costs incurred by Landlord as a result of the draw), provided that the remaining security shall at all times be at least one hundred ten percent (110%) of the then-projected Excess Cost not yet expended. If Tenant pays the invoice amount, Landlord shall approve a reduction in the amount of the security, to an amount equal to one hundred ten percent (110%) of the then-projected Excess Cost not yet expended. In the event that any Any portion of the Improvement Allowance remains unused that is not utilized on the Leasehold Improvements Completion Dateor prior to December 31, Tenant 2019 (as may be extended by force majeure or any delay not directly caused by Lessee), shall have the option to have such unused amounts applied to Base Rent first due under this Lease Agreementbe deemed forfeited by Lessee. Notwithstanding anything in this Paragraph 7 to the contrary, No part of the Improvement Allowance shall may be reduced by an amount equal to used towards the actual, reasonable cost (including labor, materials, construction management, architectural and engineering costs) payment or credit of two (2) replacement restrooms to be constructed by Landlord on Rent owed under the eighth (8th) floor outside terms of the Leased Premises, which replacement restrooms will be substantially similar in finish-out to the existing restrooms on the eighth (8th) floor and meet all applicable governmental codes, laws and regulationsLease Agreement.