Common use of COST OF THE TENANT IMPROVEMENTS WORK Clause in Contracts

COST OF THE TENANT IMPROVEMENTS WORK. A. Landlord shall provide an allowance towards the “Completion Cost” (as defined below) of constructing the Tenant Improvement Work in the amount of $70,400.00 (the “Landlord’s Contribution”), based on $20.00 per usable square foot of the Premises, with any excess cost of the Tenant Improvements Work to be borne solely by Tenant If the actual cost of completion of the Tenant Improvements is less than the maximum amount provided for the Landlord’s Contribution, such savings shall inure to the benefit of Landlord and Tenant shall not July 29, 2013 3 be entitled to any credit or payment. Notwithstanding the foregoing, Tenant may utilize a portion of the Landlord’s Contribution, not to exceed the amount of Twelve Thousand Five Hundred Forty-Six Dollars ($12,546.00) based on $3.00 per usable square foot of the Premises, towards Tenant’s cost of cabling, furniture, and related moving expenses for Tenant’s move to the Premises. B. Tenant shall pay all Completion Costs attributable to any Changes requested by the Tenant which cause the Tenant Improvement Work to exceed Landlord’s Contribution, any costs attributable to Tenant Delays and the amount, if any, by which aggregate Completion Cost of the Tenant Improvements Work exceeds the Landlord’s Contribution. The amounts to be paid by Tenant for the Tenant Improvements pursuant to this Section II.C. are sometimes cumulatively referred to herein as the “Tenant’s Contribution”.

Appears in 2 contracts

Samples: Lease (Lombard Medical, Inc.), Lease (Lombard Medical, Inc.)

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COST OF THE TENANT IMPROVEMENTS WORK. A. Landlord shall shalt provide an allowance towards the “Completion Cost” (as defined below) of constructing the Tenant Improvement Work in the amount of $70,400.00 1,011,825.00 (the “Landlord’s Contribution”), based on $20.00 25.00 per usable square foot of the Premises, with any excess cost of the Tenant Improvements Work to be borne solely by Tenant Tenant. If the actual cost of completion of the Tenant Improvements is less than the maximum amount provided for the Landlord’s Contribution, such savings shall inure to the benefit of Landlord and Tenant shall not July 29, 2013 3 be entitled to any credit or payment. Notwithstanding the foregoing, Tenant may utilize a portion of the Landlord’s Contribution, not to exceed the amount of Twelve Thousand Five Hundred Forty-Six Dollars ($12,546.00) 121,419.00, based on $3.00 per usable square foot of the Premises, towards Tenant’s cost out-of-pocket costs of cabling, furniture, architectural fees, signage, security system, and related moving expenses for Tenant’s move to the Premises. Landlord shall reimburse Tenant for such costs within 30 days following invoicing by Tenant, provided, however, that Landlord shall have no obligation to fund any portion of the Landlord’s Contribution towards invoices received from Tenant after 90 days following the Commencement Date of this Lease. B. Tenant shall pay all Completion Costs attributable to any Changes requested by the Tenant which cause the Tenant Improvement Work to exceed Landlord’s Contribution, any costs attributable to Tenant Delays and the amount, if any, by which aggregate Completion Cost of the Tenant Improvements Improvement Work exceeds the Landlord’s Contribution. The amounts to be paid by Tenant for the Tenant Improvements pursuant to this Section II.C. are sometimes cumulatively referred to herein as the “Tenant’s Contribution”.

Appears in 1 contract

Samples: Lease Agreement (Wm Technology, Inc.)

COST OF THE TENANT IMPROVEMENTS WORK. A. Landlord shall provide an to Tenant a tenant improvement allowance towards the “Completion Cost” (as defined below) of constructing the Tenant Improvement Work in the amount of $70,400.00 162,590.00 (the “Landlord’s Contribution”), based on $20.00 5.00 per usable rentable square foot of the Premises, towards the “Completion Cost” of the Tenant Improvements (as hereinafter defined), with any excess cost of the Tenant Improvements Work to be borne solely by Tenant Tenant. If the actual cost of completion of the Tenant Improvements is less than the maximum amount provided for the Landlord’s Contribution, such savings shall inure to the benefit of Landlord and Tenant shall not July 29, 2013 3 be entitled to any credit or paymentpayment other than the Rent Contribution Amount (defined below). It is further understood and agreed that the Tenant Improvements shall be scheduled and shall be substantially completed not later than twenty four (24) months following the Commencement Date (except in the event of a matter beyond the reasonable control of either party, in which case such date shall be extended on a day for day basis) to be eligible for funding by Landlord, and that Landlord shall not be obligated to fund any portion of the Landlord’s Contribution towards Tenant Improvements completed after such date (as the same may be so extended). Notwithstanding the foregoing, Tenant may utilize a portion of the Landlord’s Contribution, not to exceed the amount of Twelve Thousand Five Hundred Forty-Six Dollars ($12,546.00) 97,554.00, based on $3.00 per usable square foot of the Premises, towards Tenant’s cost as credits to reduce the scheduled installments of cabling, furniture, Basic Rent next due and related moving expenses for Tenant’s move to the Premises. B. Tenant shall pay all Completion Costs attributable to any Changes requested by the Tenant which cause the Tenant Improvement Work to exceed Landlord’s Contribution, any costs attributable to Tenant Delays and the amount, if any, by which aggregate Completion Cost of the Tenant Improvements Work exceeds the Landlord’s Contribution. The amounts to be paid by Tenant for the Tenant Improvements pursuant to payable under this Section II.C. are sometimes cumulatively referred to herein as Lease (the “Tenant’s ContributionRent Contribution Amount).

Appears in 1 contract

Samples: Lease (Masimo Corp)

COST OF THE TENANT IMPROVEMENTS WORK. A. Landlord shall provide an allowance towards the “Completion Cost” (as defined below) of constructing the Tenant Improvement Work in the amount of $70,400.00 153,690.00 (the “Landlord’s Contribution”), based on $20.00 10.00 per usable square foot of the Premises, with any excess cost of the Tenant Improvements Work to be borne solely by Tenant If the actual cost of completion of the Tenant Improvements is less than the maximum amount provided for the Landlord’s Contribution, such savings shall inure to the benefit of Landlord and Tenant shall not July 29, 2013 3 be entitled to any credit or payment. Notwithstanding the foregoing, Tenant may utilize a portion of the Landlord’s Contribution, not to exceed the amount of Twelve Thousand Five Hundred Forty-Six Dollars ($12,546.00) 76,845.00, based on $3.00 5.00 per usable square foot of the Premises, towards Tenant’s cost of cabling, furniture, and related moving expenses for Tenant’s move to the Premises, and for any space planning, architectural, or engineering costs or fees incurred by Tenant. B. Tenant shall pay all Completion Costs attributable to any Changes requested by the Tenant which cause the Tenant Improvement Work to exceed Landlord’s Contribution, any costs attributable to Tenant Delays and the amount, if any, by which aggregate Completion Cost of the Tenant Improvements Work exceeds the Landlord’s Contribution. The amounts to be paid by Tenant for the Tenant Improvements pursuant to this Section II.C. are sometimes cumulatively referred to herein as the “Tenant’s Contribution”.

Appears in 1 contract

Samples: Lease (Lombard Medical, Inc.)

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COST OF THE TENANT IMPROVEMENTS WORK. A. Landlord shall provide an allowance towards the “Completion Cost” (as defined below) cost of constructing any Change(s) approved by the parties to the Tenant Improvement Work in the amount of Eighteen Thousand Eight Hundred Twenty Eight Dollars ($70,400.00 18,828.00) (the “Landlord’s Contribution”"LANDLORD'S CONTRIBUTION"), based on $20.00 1.00 per usable square foot of the Premises, with any excess cost of the Tenant Improvements Work approved Change(s) to be borne solely by Tenant If the actual cost of completion of the Tenant Improvements It is less than the maximum amount provided for the further understood and agreed that Landlord’s Contribution, such savings 's construction manager shall inure to the benefit of Landlord and Tenant shall not July 29, 2013 3 be entitled to any credit or payment. Notwithstanding the foregoing, Tenant may utilize a portion supervision/administrative fee equal to five percent (5%) of the Landlord’s Contribution, not to exceed the amount of Twelve Thousand Five Hundred Forty-Six Dollars ($12,546.00) based on $3.00 per usable square foot cost of the Premisesapproved Change(s), towards Tenant’s cost of cabling, furniture, and related moving expenses for Tenant’s move to which fee shall be paid from the PremisesLandlord's Contribution. B. Tenant shall pay all Completion Costs attributable to any Changes requested by the Tenant which cause the Tenant Improvement Work to exceed Landlord’s Contribution, any costs attributable to Tenant Delays and the amount, if any, amount by which aggregate Completion Cost cost of completing the Change(s) approved by the parties for the Tenant Improvements Work exceeds shall exceed the Landlord’s 's Contribution. The amounts to be paid by Tenant for the Tenant Improvements pursuant to this Section II.C. II.B. are sometimes cumulatively referred to herein as the "TENANT'S CONTRIBUTION". C. Tenant shall pay any portion of the Tenant’s Contribution”'s Contribution within ten (10) days following notice from Landlord. If Tenant defaults in the payment of any sums due under this Work Letter, Landlord shall (in addition to all other remedies) have the same rights as in the case of Tenant's failure to pay rent under the Lease, including, without limitation, the right to terminate this Lease and recover damages from Tenant and/or to charge a late payment fee and to collect interest on delinquent payments, and Landlord may (but shall not be required to) suspend the Tenant Improvement Work following such default.

Appears in 1 contract

Samples: Lease Agreement (Telenetics Corp)

COST OF THE TENANT IMPROVEMENTS WORK. A. Subject to the provisions of Articles II.E and II.F below, Landlord shall provide an allowance towards pay up to One Million Four Hundred Seventy-Five Thousand Seven Hundred Sixty Dollars ($1,475,760.00), based on $43.00 per rentable square foot of the Premises (“Landlord’s Maximum Contribution”), of the final “Completion Cost” (as defined below) ). Tenant acknowledges that the Landlord’s Maximum Contribution is intended only as the maximum amount Landlord will pay toward this Completion Cost of constructing the approved Tenant Improvement Work Improvements, and not by way of limitation, any partitions, modular office stations, fixtures, cabling, furniture and equipment requested by Tenant are in the amount no event subject to payment as part of $70,400.00 (the “Landlord’s Contribution”), based on $20.00 per usable square foot . In the event the sum of the Premises, with any excess cost of the Tenant Improvements Work to be borne solely by Tenant If the actual cost of completion of Completion Cost for the Tenant Improvements is less than the maximum amount provided for Landlord’s Maximum Contribution, Landlord’s actual contribution toward the Completion Cost (“Landlord’s Contribution”) shall equal such lesser amount, such savings shall inure to the benefit of Landlord and Tenant shall not July 29have no right to receive any credit, 2013 3 be entitled to refund or allowance of any credit or payment. Notwithstanding the foregoing, Tenant may utilize a kind for any unused portion of the Landlord’s Maximum Contribution nor shall Tenant be allowed to make revisions to an approved Plan or Cost Estimate or request a Change in an effort to apply any unused portion of Landlord’s Maximum Contribution, not to exceed the amount of Twelve Thousand Five Hundred Forty-Six Dollars ($12,546.00) based on $3.00 per usable square foot of the Premises, towards Tenant’s cost of cabling, furniture, and related moving expenses for Tenant’s move to the Premises. B. Tenant shall pay all Completion Costs attributable to any Changes requested by the Tenant which cause the Tenant Improvement Work to exceed Landlord’s Contribution, any costs attributable to Tenant Delays and the amount, if any, by which aggregate Completion Cost of the Tenant Improvements Work exceeds the Landlord’s Maximum Contribution. The amounts to be paid by Tenant for the Tenant Improvements pursuant to this Section II.C. are is sometimes cumulatively referred to herein as the “Tenant’s Contribution”.

Appears in 1 contract

Samples: Lease (Spectrum Pharmaceuticals Inc)

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