Common use of Disbursement of Tenant Allowance Clause in Contracts

Disbursement of Tenant Allowance. (a) Landlord shall make disbursements from the Tenant Allowance upon Landlord’s receipt of Tenant’s written request therefor, together with (i) evidence satisfactory to Landlord of the completion, in a good and wxxxxxx-like manner, of the Tenant work or material installation (such as furniture and wiring) for which such disbursement request is made, and (ii) a copy of the final invoice of each contractor or subcontractor that completed any portion of the Tenant work for which such disbursement request is made. Disbursements from the Tenant Allowance shall be made, either to Tenant or directly to the applicable contractor(s) or subcontractor(s), at Landlord’s election in its sole and absolute discretion, in the amounts of such invoices for completed work provided pursuant to clause (ii) of the immediately preceding sentence; provided, however, that in no event shall Landlord be obligated to make any disbursement from the Tenant Improvement Allowance which would cause the aggregate amount disbursed therefrom to exceed Seventy-five Thousand Dollars ($75,000). Tenant shall be solely responsible for, and shall not be reimbursed by Landlord for, any costs incurred by Tenant with respect to Tenant work, which costs may cause the total amount of costs incurred by Tenant with respect to the Tenant Improvements to exceed Seventy-five Thousand Dollars ($75,000). If Tenant does not use the full amount of the Tenant Allowance by December 31, 2015, then Tenant may apply the balance of the Tenant Allowance to rent due. (b) Landlord shall have no obligation to make any disbursement of all or any portion of the Tenant Improvement Allowance at any time during the existence of an event of default under the Lease or a condition which with the giving of notice or the passage of time could become an event of default.