Disbursement of Construction Allowance. Provided that (a) this Lease is then in full force and effect, (b) Tenant is not then in default of any of its obligations under the Lease beyond any applicable notice or cure period, including, without limitation, Tenant’s obligations under this Work Letter to perform Tenant Improvement Work in accordance with the Approved Working Drawings and all applicable Laws, (c) Tenant has satisfactorily completed the Tenant Improvement Work and submitted to Landlord (if applicable and available) (i) two (2) full sets of blue line “as-built” drawings, together with a CAD disk showing the Tenant Improvements (updated by Tenant’s Architect as necessary to reflect all changes made to the Approved Working Drawings during the course of construction), (ii) a written statement from Tenant’s Architect that the work described on any such invoices has been completed in accordance with the Approved Working Drawings, (iii) properly executed statutory form unconditional mechanics’ lien releases from all of Tenant’s Agents, (iv) copies of all Permits, licenses, certificates and other governmental authorizations and approvals necessary in connection with, and indicating final approval of, the Tenant Improvement Work, (v) a statement of total design and construction fees and costs, and (vi) any other documents reasonably required by Landlord’s lender, and (d) Tenant has commenced business operations at the Premises, then Landlord shall pay the full amount of the Construction Allowance payable to Tenant hereunder within thirty (30) days following the full satisfaction of Tenant’s obligations set forth in parts (a), (b), (c) and (d) of this sentence. Tenant shall use commercially efforts to submit the documents described in clause (c) above to Landlord within thirty (30) days following completion of the Tenant Improvement Work. If Tenant fails to submit the foregoing documentation to Landlord within twelve (12) months after completion of the Tenant Improvement Work, Landlord shall have no further obligation to pay the Construction Allowance to Tenant, and Tenant shall be deemed to have waived any rights to receive the same.
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Samples: Purchase and Sale Agreement (Polarityte, Inc.), Purchase and Sale Agreement (Polarityte, Inc.), Lease Agreement (Polarityte, Inc.)
Disbursement of Construction Allowance. Provided that From time to time, but in no event more frequently than once every thirty (a30) this Lease is then in full force and effectdays, Tenant shall deliver to Landlord: (i) copies of applicable invoices, (bii) Tenant is not then in default of any of its obligations under the Lease beyond any applicable notice or cure period, including, without limitation, a written statement from Tenant’s obligations under this Work Letter to perform Tenant Improvement Work Architect that the work described on any such invoices has not previously been paid for and has been completed substantially in accordance with the Approved Working Drawings Drawings, and (iii) properly executed lien waivers from Tenant’s General Contractor to the extent of the work described in such invoices. Within thirty (30) days after receipt of the foregoing, Landlord shall deliver a check to Tenant made payable to Tenant for Landlord’s Share (as defined below) of each amount of hard and soft costs invoiced by Tenant’s Architect or Tenant’s General Contractor that has not previously been paid less a ten percent (10%) retention. As used herein, “Landlord’s Share” shall be a fraction, the numerator of which is the Construction Allowance, and the denominator of which is the cost estimated by Tenant’s General Contractor and Tenant’s Architect of designing and constructing the Leasehold Improvements to be constructed by Tenant in accordance with the terms of this Work Letter. The final installment of the Construction Allowance, including all applicable Lawsretentions, (c) shall be paid to Tenant has satisfactorily completed after satisfactory completion of the Tenant Improvement Tenant’s Work and submitted to Landlord submission by Tenant of (if applicable and available1) (i) two (2) full sets of blue line “as-built” drawings, together with drawings (in hard copy and in AutoCAD format on a CAD disk diskette) showing the Leasehold Improvements performed by Tenant Improvements (updated by Tenant’s Architect as necessary to reflect all changes made to the Approved Working Drawings during the course of construction), (ii2) a written statement from Tenant’s Architect that the work described on any such invoices has been completed substantially in accordance with the Approved Working Drawings, (iii3) properly executed statutory form unconditional mechanics’ lien releases in compliance with both California Civil Code Section 3262(d)(2) and Section 3262(d)(4) from all of Tenant’s Agents, General Contractor; and (iv4) copies of all Permits, licenses, certificates and other governmental authorizations and approvals necessary in connection with, and indicating final approval of, the Tenant Improvement Tenant’s Work, (v) a statement of total design and construction fees and costs, and (vi) any other documents reasonably required by Landlord’s lender, and (d) Tenant has commenced business operations at which may be necessary for the Premises, then Landlord shall pay the full amount of the Construction Allowance payable to Tenant hereunder within thirty (30) days following the full satisfaction operation of Tenant’s obligations set forth in parts (a), (b), (c) and (d) of this sentencebusiness within the Premises. Tenant shall use commercially efforts to submit the documents described in clause clauses (c1) through (4) above to Landlord within thirty (30) days following the earlier of substantial completion of Tenant’s Work or the date Tenant Improvement Work. If Tenant fails to submit commences business operations in the foregoing documentation to Landlord within twelve (12) months after completion of the Tenant Improvement Work, Landlord shall have no further obligation to pay the Construction Allowance to Tenant, and Tenant shall be deemed to have waived any rights to receive the samePremises.
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Disbursement of Construction Allowance. Provided that (a) this Lease is then in full force and effect, (b) Tenant is not then in default of any of its obligations under the Lease beyond any applicable notice or cure period, including, without limitation, Tenant’s obligations under this Work Letter Agreement, Landlord shall disburse the Allowance to perform Tenant Improvement Work to reimburse Tenant for the actual construction costs which Tenant incurs in connection with the construction of the Tenant Improvements in accordance with the Approved Working Drawings and all applicable Laws, (c) Tenant has satisfactorily completed the Tenant Improvement Work and submitted to Landlord (if applicable and available) following:
(i) two Tenant shall cause its contractor to deliver to Landlord, by the fifth (25th) full sets day of blue line “as-built” drawingseach month (the "Current Month"), together with an application for payment in the form of a CAD disk showing typed, itemized, reasonably detailed statement (the Tenant Improvements (updated by Tenant’s Architect as necessary to reflect all changes made "Statement"). The Statement shall be applicable to the Approved Working Drawings period commencing on the first (1st) day of the month preceding the Current Month and ending on the last day of such month (the "Payment Request Period"). Delivered with the Statement shall be (a) evidence of the absence of liens which are the subject of the Statement as reasonably required by Landlord (including conditional lien releases applicable to all work performed during the course of constructionPayment Request Period and unconditional lien releases applicable to all work performed prior to the Payment Request Period), and (iib) invoices, receipts and bills evidencing the costs which are the subject of the Statement (collectively, the "Supporting Items"). The Statement shall constitute a written statement from Tenant’s Architect representation by Tenant that the work described on any such invoices identified therein as having been performed has been completed approved by Tenant and performed in a good and workmanlike manner and in accordance with the Approved Working Drawings, (iii) properly executed statutory form unconditional mechanics’ lien releases from all of Tenant’s Agents, (iv) copies of all Permits, licenses, certificates and other governmental authorizations and approvals necessary in connection with, and indicating final approval of, the Tenant Improvement Work, (v) a statement of total design and construction fees and costs, and (vi) any other documents reasonably required by Landlord’s lender, and (d) Tenant has commenced business operations at the Premises, then Landlord shall pay the full amount requirements of the Construction Allowance payable to Tenant hereunder Lease and this Work Letter Agreement.
(ii) Landlord will review the Statement for each Payment Request Period and will, within thirty (30) days following after receipt of said Statement and the full satisfaction Supporting Items, pay to Tenant, who shall pay to Tenant's contractor, ninety percent (90%) of Tenant’s obligations the amount Landlord reasonably approves; in the event Landlord does not approve a Statement for reasons related to defective or unsatisfactory work, Landlord will only be obligated to pay ninety percent (90%) of the portion it approves. Within fifteen (15) days after receipt of a Statement, Landlord shall notify Tenant in writing of the reason for withholding any portion of the amount set forth in parts such Statement. Any single payment, or series of payments, by Landlord in excess of said ninety percent (a)90%) sum shall not constitute a waiver of Landlord's right to pay only ninety percent (90%) in the future. Except for sums withheld for defective or unsatisfactory work that is later remedied to Landlord's reasonable satisfaction, no portion of the sums retained by Landlord pursuant to this subparagraph shall be payable until the final payment by Landlord is made pursuant to this Work Letter Agreement.
(b)iii) Final payment, including the retainer, shall be due and payable thirty-five (c) and (d) of this sentence. Tenant shall use commercially efforts to submit the documents described in clause (c) above to Landlord within thirty (3035) days following completion after recordation of the Tenant Improvement Work. If Tenant fails a valid Notice of Completion with respect to submit the foregoing documentation to Landlord within twelve (12) months after completion of the Tenant Improvement Work, provided Tenant's contractor has timely delivered to Landlord the last Statement and Supporting Items.
(iv) Each Statement shall only include amounts for work authorized under this Work Letter Agreement and actually performed.
(v) Notwithstanding anything to the contrary set forth above, Landlord shall not be required to make final payment until (a) Tenant's contractor has certified to Landlord that the Tenant Improvements have no further obligation been substantially completed in accordance with the Final Plans, (b) Tenant has delivered to pay Landlord one (1) set of reproducible "as-built" plans for the Construction Allowance to Tenant Improvements as prepared by Tenant's Architect, and (c) Tenant shall be deemed to have waived any rights to receive has accepted possession of the samePremises and opened for business therein in accordance with the Lease.
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Samples: Office Building Lease (Supergen Inc)
Disbursement of Construction Allowance. Provided that (a) this Lease is then in full force and effect, (b) Tenant is not then in default of any of its obligations under the Lease beyond or this Work Letter Agreement, Landlord shall disburse the Allowance to Tenant to reimburse Tenant for the actual construction costs which Tenant incurs in connection with the construction of the Tenant Improvements in accordance with the following:
(i) Tenant shall deliver to Landlord, by the fifth (5th) day of each month (the "Current Month"), an application for payment in the form of a typed, itemized, reasonably detailed statement (the "Statement"). The Statement shall be applicable to the period commencing on the first (1st) day of the month preceding the Current Month and ending on the last day of such month (the "Payment Request Period"). The Statement shall reflect the same percentage of completion of the various Tenant Improvements line items as submitted for payment by the Tenant contractor(s). Delivered with the Statement shall be (A) evidence of the absence of liens which are the subject of the Statement as reasonably required by Landlord (including conditional lien releases (except for the Retainage) applicable to all work performed during the Payment Request Period and unconditional lien releases applicable to all work performed prior to the Payment Request Period), and (B) a copy of Tenant's contractor's Schedule of Values showing the percentage of completion of the Tenant Work for the Payment Request Period (collectively, the "Supporting Items"). The Statement shall constitute a representation by Tenant that the work identified therein as having been performed has been approved by Tenant and performed in a good and workmanlike manner and in accordance with the requirements of the Lease and this Work Letter Agreement.
(ii) Landlord will review the Statement for each Payment Request Period and will, within twenty-five (25) days after receipt of said Statement and the Supporting Items, pay to Tenant, who shall pay to Tenant's contractor, ninety percent (90%) of the amount reflected in the Schedule of Values for the work covered by the Payment Request, except that in the event Landlord does not approve a Statement for reasons related to defective or unsatisfactory work, Landlord will only be obligated to pay ninety percent (90%) of the portion it approves. The balance of the approved amount (ten percent (10%) unless it is more due to defective work) will be retained (the "Retainage") by Landlord and accumulated for each application for payment. Within ten (10) days after receipt of a Statement, Landlord shall notify Tenant in writing of the reason for withholding any applicable notice portion of the amount set forth in such Statement. Any single payment, or cure periodseries of payments, includingby Landlord in excess of said ninety percent (90%) sum shall not constitute a waiver of Landlord's right to pay only ninety percent (90%) in the future. Except for sums withheld for defective or unsatisfactory work that is later remedied to Landlord's reasonable satisfaction, without limitationwhich shall be itemized by Tenant on the next Statement, Tenant’s obligations no portion of the sums retained by Landlord pursuant to this subparagraph shall be payable until the final payment by Landlord is made pursuant to this Work Letter Agreement.
(iii) The Retainage payment shall be due and payable thirty-five (35) days after recordation of a valid Notice of Completion with respect to the Tenant Improvement Work, provided Tenant has timely delivered to Landlord the last Statement and Supporting Items.
(iv) Each Statement shall only include amounts for work authorized under this Work Letter Agreement and actually performed.
(v) Notwithstanding anything to perform Tenant Improvement Work in accordance with the Approved Working Drawings and all applicable Lawscontrary set forth above, Landlord shall not be required to make the Retainage payment until (cA) Tenant Tenant's Architect has satisfactorily completed the Tenant Improvement Work and submitted certified to Landlord (if applicable and available) (i) two (2) full sets of blue line “as-built” drawings, together with a CAD disk showing that the Tenant Improvements (updated by Tenant’s Architect as necessary to reflect all changes made to the Approved Working Drawings during the course of construction), (ii) a written statement from Tenant’s Architect that the work described on any such invoices has have been substantially completed in accordance with the Approved Working DrawingsFinal Plans, (iiiB) properly executed statutory form unconditional mechanics’ lien releases from all Tenant has delivered to Landlord one (1) set of Tenant’s Agents, (iv) copies of all Permits, licenses, certificates and other governmental authorizations and approvals necessary in connection with, and indicating final approval of, reproducible "as-built" plans for the Tenant Improvement Work, (v) a statement of total design and construction fees and costsImprovements as prepared by Tenant's Architect, and (vi) any other documents reasonably required by Landlord’s lender, and (dC) Tenant has commenced business operations at the Premises, then Landlord shall pay the full amount accepted possession of the Construction Allowance payable to Tenant hereunder within thirty (30) days following Premises and opened for business therein in accordance with the full satisfaction of Tenant’s obligations set forth in parts (a), (b), (c) and (d) of this sentence. Tenant shall use commercially efforts to submit the documents described in clause (c) above to Landlord within thirty (30) days following completion of the Tenant Improvement Work. If Tenant fails to submit the foregoing documentation to Landlord within twelve (12) months after completion of the Tenant Improvement Work, Landlord shall have no further obligation to pay the Construction Allowance to Tenant, and Tenant shall be deemed to have waived any rights to receive the sameLease.
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Samples: Lease (Apria Healthcare Group Inc)
Disbursement of Construction Allowance. Provided 5.1 Subject to paragraphs 5.2 and 5.3, below, Landlord shall either directly or through an industry-recognized reputable third party construction disbursement company (such as Builders Disbursement, Inc.), selected by Landlord, disburse portions of the Construction Allowance (each, an "Advance") directly to the Architect, Contractor and any subcontractors, as Landlord may elect, only after receiving written authorization therefor signed by Tenant and the Contractor. That written authorization shall be accompanied by construction and other cost vouchers and invoices, together with (i) a detailed list and description of all work for which payment is sought, and (iii) such other supporting documentation as Landlord may reasonably require (ii) conditional lien releases from the subcontractors in the form required by California Civil Code section 3262 for the portion of the Tenant Improvements constructed. Each of the foregoing documents shall be initialed by the Architect, Tenant and the Contractor. The initials shall indicate approval of all such documents. All presentations of requests for an Advance and all vouchers and invoices for any portion of the Construction Cost presented by Tenant to Landlord shall constitute a representation on the part of .Tenant that the funds referred to therein have been used solely for paying only the direct costs of construction of the Building General Work. Tenant shall indemnify, defend and hold Landlord and Landlord's agents, employees, and contractors harmless from and against all liability, claims, causes of action, suits, costs and expenses (aincluding attorneys' fees), judgments, and damages (collectively, "Claims") this Lease is then arising in full force and effect, (b) Tenant is not then in default connection with the payment of any of its obligations voucher presented. All checks representing an Advance shall be made payable jointly to Tenant and the Contractor or the Subcontractor, as Landlord may elect. In the event a third party disbursement agent is used, the disbursement agent shall act in Landlord's place (and shall act only after receiving Landlord's written approval to any requested Advance) under the Lease beyond any applicable notice or cure perioddisbursement provisions of this Agreement, and Landlord and Tenant shall each pay one-half (1/2) of the costs and fees of such disbursement agent.
5.2 Payment of each Advance shall be less a retainage equal to ten percent (10?) of the requested disbursement (the "Retainage"). The total Retainage shall not be paid until the conditions set forth in paragraph 5.3, below, have all been satisfied in full.
5.3 The Retainage withheld in accordance with the provisions of section 5.2 shall be disbursed only at such time as the Tenant Improvements have been fully completed, including, without limitation, the issuance of a certificate of occupancy (or equivalent permit) and the Expiration of the Lien Period, provided there are no unpaid Claims or other liens filed against the Property as a result of work undertaken by or through Tenant’s obligations under this Work Letter to perform Tenant Improvement Work in accordance with . "Expiration of the Approved Working Drawings and all applicable Laws, (c) Tenant has satisfactorily completed the Tenant Improvement Work and submitted to Landlord (if applicable and available) Lien Period" shall mean (i) two (2thirty-five C35) full sets days after the filing for recordation by Tenant of blue line “as-built” drawings, together with a CAD disk showing the Notice of Completion for the Tenant Improvements (updated and the complete, unconditional releases by Tenant’s Architect as necessary to reflect the Contractor and all changes made to subcontractors and materialmen of their respective lien rights against the Approved Working Drawings during the course of construction)Property, or (ii) a written statement from Tenant’s Architect that the work described on any such invoices has been completed in accordance with the Approved Working Drawings, (iii) properly executed statutory form unconditional mechanics’ lien releases from all if no Notice of Tenant’s Agents, (iv) copies of all Permits, licenses, certificates and other governmental authorizations and approvals necessary in connection with, and indicating final approval of, the Tenant Improvement Work, (v) a statement of total design and construction fees and costs, and (vi) any other documents reasonably required by Landlord’s lender, and (d) Tenant has commenced business operations at the PremisesCompletion is filed, then Landlord shall pay the full amount of the Construction Allowance payable to Tenant hereunder within thirty ninety-five (3095) days following the full satisfaction of Tenant’s obligations set forth after "completion" (as that term is defined in parts (a), (b), (cCalifornia Civil Code section 3086) and (d) of this sentence. Tenant shall use commercially efforts to submit the documents described in clause (c) above to Landlord within thirty (30) days following completion of the Tenant Improvement Work. If Tenant fails Improvements to submit the foregoing documentation to satisfaction of Landlord within twelve (12) months after completion of the Tenant Improvement Work, Landlord shall have no further obligation to pay the Construction Allowance to Tenant, and Tenant shall be deemed to have waived any rights to receive the sameLandlord's title insurance company.
Appears in 1 contract
Samples: Lease (Virco MFG Corporation)
Disbursement of Construction Allowance. Provided that Tenant is not in default under the Lease or this Work Letter, Landlord shall disburse the Allowance to Tenant to reimburse Tenant for the actual construction costs which Tenant incurs in connection with the construction of the Tenant Improvements in accordance with the following:
(i) Tenant shall cause its contractor to deliver to Landlord, by the fifth (5th) day of each month (the "Current Month"), an application for payment in the form of a typed, itemized, reasonably detailed AIA G701 statement (the "Statement"). The Statement shall be applicable to the period commencing on the first (1st) day of the month preceding the Current Month and ending on the last day of such month (the "Payment Request Period"). Delivered with the Statement shall be (a) conditional lien releases applicable to all work performed during the Payment Request Period and unconditional lien releases applicable to all work performed prior to the Payment Request Period, and (b) invoices, receipts and bills evidencing the costs which are the subject of the Statement (collectively, the "Supporting Items"). The Statement shall constitute a representation by Tenant that the work identified therein as having been performed has been approved by Tenant and performed in a good and workmanlike manner and in accordance with the requirements of the Lease and this Lease Work Letter.
(ii) Landlord will review the Statement for each Payment Request Period and will, within ten (10) days after receipt of said Statement and the Supporting Items, pay to Tenant, who shall pay to Tenant's contractor, ninety percent (90%) of the amount Landlord reasonably approves; in the event Landlord does not approve a Statement for reasons related to defective or unsatisfactory work, Landlord will only be obligated to pay ninety percent (90%) of the portion it approves. Within fifteen (15) days after receipt of a Statement, Landlord shall notify Tenant in writing of the reason for withholding any portion of the amount set forth in such Statement. Any single payment, or series of payments, by Landlord in excess of said ninety percent (90%) sum shall not constitute a waiver of Landlord's right to pay only ninety percent (90%) in the future. Except for sums withheld for defective or unsatisfactory work that is then later remedied to Landlord's reasonable satisfaction, no portion of the sums retained by Landlord pursuant to this subparagraph shall be payable until the final payment by Landlord is made pursuant to this Work Letter.
(iii) Final payment, including the retainer, shall be due and payable thirty-five (35) days after recordation of a valid Notice of Completion with respect to the Tenant Improvement Work, provided Tenant's contractor has timely delivered to Landlord the last Statement and Supporting Items.
(iv) Each Statement shall only include amounts for work authorized under this Work Letter and actually performed.
(v) Notwithstanding anything to the contrary set forth above, Landlord shall not be required to make final payment until (a) Tenant's Architect has certified to Landlord that the Tenant Improvements have been substantially completed in full force and effectaccordance with the Final Plans, (b) Tenant is not then in default has delivered to Landlord one (1) set of any of its obligations under reproducible "as-built" plans for the Lease beyond any applicable notice or cure periodTenant Improvements as prepared by Tenant's Architect, including, without limitation, Tenant’s obligations under this Work Letter to perform Tenant Improvement Work in accordance with the Approved Working Drawings and all applicable Laws, (c) Tenant has satisfactorily completed accepted possession of the Tenant Improvement Work Premises and submitted to Landlord (if applicable and available) (i) two (2) full sets of blue line “as-built” drawings, together with a CAD disk showing the Tenant Improvements (updated by Tenant’s Architect as necessary to reflect all changes made to the Approved Working Drawings during the course of construction), (ii) a written statement from Tenant’s Architect that the work described on any such invoices has been completed opened for business therein in accordance with the Approved Working Drawings, (iii) properly executed statutory form unconditional mechanics’ lien releases from all of Tenant’s Agents, (iv) copies of all Permits, licenses, certificates and other governmental authorizations and approvals necessary in connection with, and indicating final approval of, the Tenant Improvement Work, (v) a statement of total design and construction fees and costs, and (vi) any other documents reasonably required by Landlord’s lender, and (d) Tenant has commenced business operations at the Premises, then Landlord shall pay the full amount of the Construction Allowance payable to Tenant hereunder within thirty (30) days following the full satisfaction of Tenant’s obligations set forth in parts (a), (b), (c) and (d) of this sentence. Tenant shall use commercially efforts to submit the documents described in clause (c) above to Landlord within thirty (30) days following completion of the Tenant Improvement Work. If Tenant fails to submit the foregoing documentation to Landlord within twelve (12) months after completion of the Tenant Improvement Work, Landlord shall have no further obligation to pay the Construction Allowance to Tenant, and Tenant shall be deemed to have waived any rights to receive the sameLease.
Appears in 1 contract
Disbursement of Construction Allowance. Provided that (a) this Lease is then in full force and effect, and (b) Tenant is not then in default default, beyond all applicable cure periods, of any of its obligations under the Lease beyond any applicable notice or cure periodLease, including, without limitation, Tenant’s 's obligations under this Work Letter to perform Tenant Improvement Work in accordance with the Approved Working Drawings and all applicable Laws, Landlord shall pay the Construction Allowance to Tenant, less any amounts deducted therefrom pursuant to Section 4.3 below, within thirty (c30) Tenant has satisfactorily completed days after satisfactory completion of the Tenant Improvement Work and submitted to Landlord (if applicable and available) submission by Tenant of (i) two (2) full sets of blue line “"as-built” " drawings, together with a CAD disk showing the Tenant Improvements (updated by Tenant’s 's Architect as necessary to reflect all changes made to the Approved Working Drawings during the course of construction), (ii) specification cut sheets for all non-Building standard equipment and lighting, (iii) a written statement from Tenant’s 's Architect that the work described on any such invoices has been completed in accordance with the Approved Working Drawings, (iiiiv) properly executed statutory form unconditional mechanics’ ' lien releases in compliance with California Civil Code Section 8138 from all of Tenant’s 's Construction Agents, (ivv) copies of all Permits, licenses, certificates and other governmental authorizations and approvals necessary in connection with, and indicating final approval of, the Tenant Improvement Work, and which may be necessary for the operation of Tenant's business within the Premises, (vvi) a copy of the final air balancing report, (vii) warranties and manuals for all installed equipment, and (viii) a statement of total design and construction fees and costs. Tenant shall submit the documents described in clauses (i) through (viii) above to Landlord within sixty (60) days following the Date of Substantial Completion. With regard to disbursements for any purchase of FF&E or as reimbursement for early termination consideration as provided in Section 4(a) above, and (vi) any other documents reasonably required by Landlord’s lender, and (d) Tenant has commenced business operations at the Premises, then Landlord shall pay the full disburse such amount of the Construction Allowance payable to Tenant hereunder within thirty (30) days following the full satisfaction after Landlord’s receipt from Tenant of documentary evidence reasonably satisfactory to Landlord of Tenant’s obligations set forth payment of such amounts. In no event shall Landlord have any obligation to disburse any amounts hereunder in parts (a), (b), (c) and (d) of this sentence. Tenant shall use commercially efforts to submit the documents described in clause (c) above to Landlord within thirty (30) days following completion excess of the Tenant Improvement WorkConstruction Allowance. If Tenant fails to submit the foregoing documentation to Landlord within twelve (12) months after completion of the Tenant Improvement WorkAdditionally, Landlord shall have no further obligation to pay the Construction Allowance to Tenant, and Tenant shall be deemed to have waived any rights right to receive any portion of the sameConstruction Allowance which has not been properly requested by December 31, 2017, and Landlord shall have no further obligation to disburse any such unrequested portion of the Construction Allowance after December 31, 2017.
Appears in 1 contract