Disbursement of Improvement Allowance. During the construction of the Improvements, Landlord shall make monthly disbursements of the Improvement Allowance for Improvement Allowance Items and shall authorize the release of monies as follows.
Disbursement of Improvement Allowance. Tenant acknowledges that Landlord is a publicly traded real estate investment trust (“REIT”), and due to such REIT status Landlord is required to satisfy certain tax and accounting requirements and related obligations in connection with the leases at the Project. In order to satisfy such requirements and obligations in connection with this Lease, Landlord requires various construction-related deliverables to be timely submitted by Tenant to Landlord (“Tenant Deliverables”) at designated times prior to, during and immediately following the construction of the Improvements by Tenant, and Tenant hereby agrees to timely comply with all such Tenant Deliverable obligations. The Tenant Deliverables and related delivery deadlines are set forth in this Work Letter and in Schedule 4 attached to this Work Letter and incorporated herein by this reference. Tenant shall deliver to Landlord all Tenant Deliverables in a timely fashion as such Tenant Deliverables are required pursuant to the timing set forth on Schedule 4 attached to this Work Letter. Prior to the commencement of construction of the Improvements, Tenant shall deliver all of the Tenant Deliverables set forth in Section 1 of Schedule 4 attached to this Work Letter (i.e., the “Prior to Start of Construction” category of Tenant Deliverables) to Landlord. Certain of the Tenant Deliverables set forth in Section 1 of Schedule 4 attached to this Work Letter are further addressed with more specific provisions in this Work Letter. Prior to and during the design and construction of the Improvements, Landlord shall make monthly disbursements of the Improvement Allowance for Improvement Allowance Items and shall authorize the release of monies as follows:
Disbursement of Improvement Allowance. Disbursement of the Improvement Allowance shall be subject to the following conditions:
a. Once each calendar month, Tenant shall present to Landlord separate requests for payment for the Tenant Improvements work (the "Draw Request") which have been completed to date; provided that (i) the final Draw Request may be submitted immediately upon completion of the Tenant Improvements, and (ii) the conditions set forth in Paragraph C3(c), below, shall be satisfied. Each Draw Request shall include Tenant's certification that the Tenant Improvements covered thereby have been satisfactorily completed, and shall be substantiated by original invoices for such work, along with partial lien waivers with respect thereto. At Landlord's election, such Draw Requests shall also include a confirmation by the Construction Supervisor (hereinafter defined) that the Tenant Improvements for which payment is requested have been completed in conformity with the Tenant's Plan; provided that such confirmation (1) shall not be considered an assurance by Landlord that such Tenant Improvements are in conformance with the Tenant's Plan or applicable code requirements; and (2) shall not preclude Landlord from subsequently asserting that the Tenant Improvements (or any part thereof) deviate from the Tenant's Plan or applicable code requirements. Within thirty (30) days of Landlord's receipt of a complete and correct Draw Request, Landlord shall make payment to the Contractor, subject as hereinafter provided.
b. All Draw Requests covering construction work shall be accompanied by the AIA Application and Certificate for Payment (AIA Documents G702 and G703), certified by the Space Planner, and covering only such work as is actually installed in the Premises. All Certificates for Payment shall include full, partial, or conditional releases of lien, as the case may be, and other such documentation as the Landlord may reasonably request. Prior to substantial completion of the Tenant Improvements, all Certificates for Payment shall include retainage of not less than ten percent (10%) of the value of the work in place, until fifty percent (50%) of the work has been completed, whereupon, at Landlord's discretion, there shall be no further retainage withheld; provided however that if Landlord determines that construction problems have arisen thereafter, Landlord shall require that a retainage of five percent (5%) of the value of the work in place be withheld from future payments.
c. Landlord shall ...
Disbursement of Improvement Allowance. Subject to Section 2.1 above, during and after the construction of the Sprinkler Renovation Work, Landlord shall make monthly disbursements of the Improvement Allowance for Improvement Allowance Items for the benefit of Tenant and shall authorize the release of monies for the benefit of Tenant as follows:
Disbursement of Improvement Allowance. Landlord shall disburse the Improvement Allowance to Tenant as the construction of the Tenant Improvements progresses as follows: On or before the tenth (10th) day of each month, Tenant shall deliver to Landlord an application for reimbursement, accompanied by documentary evidence as reasonably required by Landlord (including, at a minimum, copies of the paid invoices and unconditional mechanics’ lien waivers reasonably required by Landlord and signed by the applicable party) of the costs incurred by Tenant for the design and construction of the Tenant Improvements since the last application for reimbursement. Within thirty (30) days after Landlord’s receipt of such an application for reimbursement, Landlord shall pay to Tenant a pro rata share of such application determined by multiplying the amount of such application by a fraction, the numerator of which is the Improvement Allowance and the denominator of which is the greater of (1) the total estimated cost of the Tenant Improvements, including all professional fees and services, and all licensing and permit fees, or (2) the Improvement Allowance; provided, however that after making the foregoing calculation Landlord shall retain an amount equal to ten percent (10%) of Landlord’s pro rata share of each application (the “Landlord Retention”), which Landlord Retention shall be released pursuant to the provisions of Section 1.3.3 below.
Disbursement of Improvement Allowance. Upon the execution and delivery of this Lease by Landlord and Tenant, Landlord shall disburse to Tenant the first one-half (1/2) of the Improvement Allowance to Tenant. On July 15, 1997, Landlord shall disburse to Tenant the second one-half (1/2) of the Improvement Allowance. Within thirty (30) days after the Commencement Date, Tenant shall provide to Landlord executed unconditional mechanics' lien releases from all of Tenant's Agents (as such term is defined below) which shall comply with the appropriate provisions, as reasonably determined by Landlord, of California Civil Code Section 3262(d) and either Section 3262(d)(3) or Section 3262(d)(4).
Disbursement of Improvement Allowance. During the construction of the Improvements, Landlord shall make monthly disbursements of the Improvement Allowance for Improvement Allowance Items and shall authorize the release of monies as follows. Notwithstanding anything set forth in any other provision of this Lease or this Work Letter to the contrary, all costs of the Lobby Wall Work (if completed prior to the Phase 1 Lease Commencement Date), the Water Sensors, the Submetering Equipment, the Electrical Upgrades, Tenant Minor Changes, Tenant Cost Items, Tenant Construction Items, LEED Compliance and all other items the cost of which is identified in this Lease or Work Letter to be deducted from the Improvement Allowance, shall be deducted solely from the Improvement Allowance and such costs in the aggregate shall not exceed the amount of the Improvement Allowance and/or the Deduction Cap, to the extent applicable.
Disbursement of Improvement Allowance. Prior to the commencement of construction of the Improvements, Tenant shall deliver all of the Tenant Deliverables set forth in Section 1 (i.e., the "Prior to Start of Construction" category of Tenant Deliverables) of Schedule 1 attached to this Exhibit B (the "List of Tenant Deliverables") to Landlord. During the design and construction of the Improvements, Landlord shall make monthly disbursements of the Improvement Allowance for Improvement Allowance Items for the benefit of Tenant and shall authorize the release of monies for the benefit of Tenant as follows:
Disbursement of Improvement Allowance. Notwithstanding any provision to the contrary contained in the Lease, effective as of the date of this First Amendment, rather than disbursing the Improvement Allowance directly to the Contractor and/or Tenant’s Agents, Landlord shall disburse the Improvement Allowance directly to Tenant following receipt of executed, unconditional mechanic’s lien releases, which comply with the appropriate provisions, as reasonably determined by Landlord, of California Civil Code Sections 8134 and/or 8138 and provided that Tenant otherwise complies with the other terms and provisions of the Work Letter and disbursement requirements set forth therein.
Disbursement of Improvement Allowance. Tenant may apply to Landlord for payment of the Improvement Allowance from time to time (but not more often than once per
