Costs in Excess of Allowance Sample Clauses

Costs in Excess of Allowance. The cost of each item referenced in Section 9(a) above shall be charged against the Allowance. If the cost of constructing the Tenant Improvements exceeds the Allowance, such Costs shall be paid for by Tenant to the extent not already paid for in connection with Tenant's approval of the Work Cost Estimate within ten (10) days after written demand from Landlord.
Sample 1Sample 2
AutoNDA by SimpleDocs
Costs in Excess of Allowance. The cost of each item referenced in Section 7(a) above shall be charged against the Tenant Allowance. If the cost of designing, permitting and constructing the Tenant Improvements exceeds the Tenant Allowance, such costs shall be paid for by Tenant.
Sample 1Sample 2
Costs in Excess of Allowance. (i) Amortized TI Costs. The cost of each item referenced in ------------------ Section 9(a), above, shall be charged against the Allowance. All costs of the Tenant Improvements which exceed the Allowance, but are less than or equal to Thirty-Five and No/100 Dollars ($35.00) per rentable square foot of the Building ("Amortized TI Costs") shall be included in Total Construction Costs; provided that, for every One and No/100 Dollar ($1.00) of Amortized TI Costs expended in connection with the Tenant Improvements, Tenant shall increase the amount of the L/C by fifty cents ($.50). By way of example only, assuming that the Building contains one hundred fifty thousand (150,000) rentable square feet and, therefore, that the Allowance is Four Million Five Hundred Thousand and No/100 Dollars ($4,500,000.00) (i.e., the product of $30.00 per rentable square foot multiplied by 150,000 rentable square feet), if the total cost of the Tenant Improvements were to equal Four Million Eight Hundred Thousand and No/100 Dollars ($4,800,000.00) (i.e., $32.00 per rentable square foot of the Building) and, therefore, the Amortized TI Costs were to equal Three Hundred Thousand and No/100 Dollars ($300,000.00) (i.e., the difference between the total cost of the Tenant Improvements less the Allowance), then Tenant would be required to increase the amount of the L/C by One Hundred Fifty Thousand and No/100 Dollars ($150,000.00).
Sample 1
Costs in Excess of Allowance. If the Work Cost exceeds the Allowance (the amount by which the Work Cost exceeds the Allowance shall be referred to herein as the "Excess Cost"), Tenant shall pay fifty percent (50%) of such Excess Cost to Landlord within five (5) days of Landlord's approval of the Work Cost estimate and the remaining fifty percent (50%) of the Excess Cost within five (5) days of when Landlord notifies Tenant that the Tenant Building Standard Work is fifty percent (50%) completed. Tenant's failure to make any payment of the Excess Cost when due, or to make any payment with respect to change orders that cause the Work Cost to exceed the Allowance, shall be deemed a default under the Lease and the amount so delinquent shall be deemed Additional Rent and Landlord may exercise all rights and remedies set forth in Article 19 of the Lease; and in addition, Landlord may delay construction until such payment is made and such delay shall be deemed a Tenant-caused delay subject to the provisions of Paragraph 7 of this Exhibit C. If any portion of the Allowance remains after completion of the Tenant Building Standard Work, Landlord shall credit the remaining portion of the Allowance against the next monthly installment of Basic Rental accruing under the Lease.
Sample 1
Costs in Excess of Allowance. If the amount provided in the Work Cost Statement exceeds the Allowance (the amount by which the Work Cost exceeds the Allowance shall be referred to herein as the "Excess Cost"), Tenant shall pay the Excess Cost to Landlord by paying a portion of each progress payment requested by the Contractor under the contract equal to the proportion that the total Excess Cost bears to the total amount set forth in the Work Cost Statement multiplied by the amount requested by the Contractor in its request for payment. All such payments of Excess Cost shall be due and payable on the same date that Landlord is required to pay the request for payment under the Contractor's contract. Tenant's failure to make any payment of the Excess Cost when due, or to make any payment with respect to change orders that cause the Work Cost to exceed the Allowance, shall be deemed an Event of Default under the Lease and the amount so delinquent shall be deemed Additional Rent and Landlord may exercise all rights and remedies set forth in Article 20 of the Lease with respect to such Event of Default; and in addition, Landlord may delay construction until such payment is made and such delay shall be deemed a Tenant-caused delay subject to the provisions of Paragraph 7.0 of this Exhibit C.
Sample 1

Related to Costs in Excess of Allowance

  • Expense Allowance The Company shall reimburse the Executive for all reasonable and necessary expenses incurred by him from time to time in the performance of his duties hereunder, against receipts therefor in accordance with the then effective policies and requirements of the Company.

  • Direct Costs Insert the major cost elements. For each element, consider the application of the paragraph entitled “Costs Requiring Prior Approval” on page 1 of these instructions.

  • Compensation; Allocation of Costs and Expenses In full consideration of the provision of the services of the Administrator, the Company shall reimburse the Administrator for the costs and expenses incurred by the Administrator in performing its obligations and providing personnel and facilities hereunder, it being understood and agreed that, except as otherwise provided herein or in that certain Investment Advisory Agreement, by and between the Company and the Administrator (the Administrator, in its capacity as adviser pursuant to the Investment Advisory Agreement, the “Adviser”), as amended from time to time (the “Advisory Agreement”), the Administrator shall be solely responsible for the compensation of its employees and all overhead expenses of the Administrator (including rent, office equipment and utilities). The Company, either directly or through reimbursement to the Adviser, shall bear all costs and expenses of its operation, administration and transactions not specifically assumed by the Adviser pursuant to the Advisory Agreement, including (without limitation): expenses deemed to the “organization and offering expenses” of the Company for purposes of Conduct Rule 2310(a)(12) of the Financial Industry Regulatory Authority (for purposes of this Agreement, such expenses, exclusive of commissions, the dealer manager fee, any discounts and other similar expenses paid by investors at the time of sale of the Stock of the Company, are hereinafter referred to as “Organization and Offering Costs”); corporate and organizational expenses relating to offering of shares of Common Stock, subject to limitations included in the Agreement; the cost of calculating the Company’s net asset value, including the cost of any third-party valuation services; the cost of effecting any sales and repurchases of the Common Stock and other securities; fees and expenses payable under any dealer manager agreements, if any; debt service and other costs of borrowings or other financing arrangements; costs of hedging; expenses, including travel expense, incurred by the Administrator, or members of the Investment Team, or payable to third parties, performing due diligence on prospective portfolio companies and, if necessary, enforcing the Company’s rights; escrow agent, transfer agent and custodial fees and expenses; fees and expenses associated with marketing efforts; federal and state registration fees, any stock exchange listing fees and fees payable to rating agencies; federal, state and local taxes; independent directors’ fees and expenses, including certain travel expenses; costs of preparing financial statements and maintaining books and records and filing reports or other documents with the SEC (or other regulatory bodies) and other reporting and compliance costs, including registration fees, listing fees and licenses, and the compensation of professionals responsible for the preparation of the foregoing; the costs of any reports, proxy statements or other notices to stockholders (including printing and mailing costs); the costs of any stockholder or director meetings and the compensation of personnel responsible for the preparation of the foregoing and related matters; commissions and other compensation payable to brokers or dealers; research and market data; fidelity bond, directors and officers errors and omissions liability insurance and other insurance premiums; direct costs and expenses of administration, including printing, mailing, long distance telephone and staff; fees and expenses associated with independent audits, outside legal and consulting costs; costs of winding up; costs incurred in connection with the formation or maintenance of entities or vehicles to hold the Company’s assets for tax or other purposes; extraordinary expenses (such as litigation or indemnification); and costs associated with reporting and compliance obligations under the Advisers Act and applicable federal and state securities laws. Notwithstanding anything to the contrary contained herein, the Company will bear its allocable portion of the costs of the compensation, benefits and related administrative expenses (including travel expenses) of the Company’s officers who provide operational and administrative services hereunder, their respective staffs and other professionals who provide services to the Company (including, in each case, employees of the Adviser or an affiliate) who assist with the preparation, coordination, and administration of the foregoing or provide other “back office” or “middle office” financial or operational services to the Company. Notwithstanding anything to the contrary contained herein, the Company shall reimburse the Adviser (or its affiliates) for an allocable portion of the compensation paid by the Adviser (or its affiliates) to such individuals (based on a percentage of time such individuals devote, on an estimated basis, to the business affairs of the Company and in acting on behalf of the Company). For the avoidance of doubt, the Adviser shall be solely responsible for any placement or “finder’s” fees payable to placement agents engaged by the Company or its affiliates in connection with the offering of securities by the Company.

  • Car Allowance The Company shall provide the Executive an automobile allowance of $750 per month during the term of Executive’s employment hereunder.

Time is Money Join Law Insider Premium to draft better contracts faster.