Expansion Allowance. In connection with Tenant’s leasing of the First Expansion Space, Landlord shall provide to Tenant a tenant improvement allowance not to exceed Twenty-Five and 00/100ths Dollars ($25.00) per rentable square foot of the First Expansion Space (i.e., $155,450.00) (the “Expansion Allowance”), for (a) permanent tenant improvements performed in or to the First Expansion Space by Tenant (the “Hard Costs”), and architectural and engineering fees, if any, the construction contract oversight fee, permit costs, furniture, fixtures, equipment, related telephone and computer cabling costs and moving costs (the “Soft Costs”) (such work and tenant improvements being hereinafter collectively referred to as the “Renovation”). Notwithstanding the foregoing, no more than fifty percent (50%) of the Expansion Allowance may be use for Soft Costs (the “Soft Cost Cap”). The Renovation shall be deemed Alterations for all purposes hereunder. Without limiting the foregoing, Tenant must receive Landlord’s prior written consent (such consent shall not be unreasonably withheld, conditioned, or delayed) to the space plans and final working drawings for the Renovation before performing any work. Tenant shall pay to Landlord (or, at Landlord’s election, to its construction contract manager), a construction contract oversight fee equal to one percent (1%) of the Hard Costs. Tenant shall promptly submit to Landlord (but on a monthly basis only): (i) invoices for all Hard Costs and Soft Costs incurred by Tenant in performing the Renovation, together with a signed architect’s certificate of substantial completion of work performed in connection therewith, (ii) signed waivers and releases of mechanic’s liens executed by all contractors, subcontractors and suppliers performing the Renovation or providing materials in connection therewith, and (iii) such other information or documentation as Landlord or its lender may reasonably request or require, such as an estoppel certificate, occupancy permit and/or architect’s final certificate of substantial completion (and architect’s confirmation of completion in compliance with approved plans) upon completion of the Renovation. After inspection and approval of the portion(s) of the Renovation as reflected by such certificates and invoices and receipt and verification of the invoices and waivers submitted, Landlord shall promptly reimburse Tenant for appropriate amounts requested by the invoices. In no event shall Landlord be obligated to reimburse or c...
Expansion Allowance. Landlord will provide Tenant with an allowance of Fifteen and 00/100 Dollars ($15.00) per rentable square foot (the "Expansion Allowance") for tenant improvements to any Additional Expansion Space obtained by Tenant during the 1992, 1993 and/or 1994 calendar years (the "Expansion Improvements"). The Expansion Improvements shall be constructed by Landlord in accordance with plans agreed to by Landlord and Tenant; provided, however, that if the estimated cost of the Expansion Improvements exceeds $15.00 per rentable square foot, Landlord shall be obligated to construct such improvements only if Landlord and Tenant agree upon suitable arrangements for Tenant to pay such excess to Landlord. If the actual cost of the Expansion Improvements is less than $15.00 per rentable square foot (as certified by Landlord to Tenant upon completion of such improvements), Landlord will credit the balance of Expansion Allowance against the next due installments) of Base Rent until the Expansion Allowance is depleted. The Expansion Allowance shall be amortized over a period of five (5) years from the date of Commencement of the term of each Additional Expansion Space lease; and if Tenant terminates this Lease prior to occupying any Additional Expansion Space for less than five (5) years, Tenant shall be obligated to pay Landlord, at Lease termination, an amount equal to the unamortized portion of the Expansion Allowance attributable to all such Additional Expansion Space.
Expansion Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the “Expansion Allowance”) in the amount of $87,186.00 to be applied toward the Expansion Allowance Items (defined in Section 1.2 below). Tenant shall be responsible for all costs associated with the Tenant Improvement Work, including the costs of the Expansion Allowance Items, to the extent such costs exceed the lesser of (x) the Expansion Allowance, or (y) the aggregate amount that Landlord is then required to disburse for such purpose pursuant to this Tenant Work Letter. Notwithstanding any contrary provision of this Agreement, if Tenant fails to use the entire Expansion Allowance by December 31, 2010, the unused amount shall revert to Landlord and Tenant shall have no further rights with respect thereto.
Expansion Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (“Expansion Allowance”) in the amount of $322,740.00 to be applied toward the “Expansion Allowance Items,” as that term is defined in Section 1.2, below. Tenant shall be responsible for all costs associated with the Tenant Improvement Work, including the costs of the Expansion Allowance Items, to the extent such costs exceed the Expansion Allowance. Notwithstanding any contrary provision of this Agreement, if Tenant fails to use the entire Expansion Allowance by the date which is the second (2nd) anniversary of the commencement of the term of the Future Expansion Space, the unused amount shall revert to Landlord and Tenant shall have no further rights with respect thereto.
Expansion Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (“Expansion Allowance”) in the amount of $322,740.00 to be applied toward the “Expansion Allowance Items,” as that term is defined in Section 1.2, below; provided, however, that, notwithstanding the foregoing, Tenant shall only have the right to apply a portion of such Expansion Allowance in an amount up to $103,040.00 toward Expansion Allowance Items pertaining to Suite 120 and Suite 150 (“Suite 120/150 Cap”), Tenant shall be responsible for all costs associated with the Expansion Space Improvement Work, including the costs of the Expansion Allowance Items, to the extent such costs exceed the Expansion Allowance. Notwithstanding any contrary provision of this Agreement, if Tenant fails to use the entire Expansion Allowance as permitted herein (including the Suite 120/150 Cap) by the date which is the second (2nd) anniversary of the commencement of the term of the Suite 100 Expansion Space, the unused amount shall revert to Landlord and Tenant shall have no further rights with respect thereto,
Expansion Allowance. Landlord shall provide an “Expansion Allowance” with respect to the Expansion Space that will be an amount to be determined by multiplying the Basic Tenant Improvement Allowance ($125.00 per rentable square foot) by a fraction, the numerator of which is the number of months (including the financial portion of a month) from the Expansion Space Commencement Date to the stated Expiration Date of the Lease, and the denominator of which is 120. For example, if the Commencement Date for the Lease is May 1, 2008, and the Expansion Space Commencement Date is August 1, 2008 (three months later), the Expansion Allowance would be determined by multiplying $125.00 by 117/120, which would result in the Expansion Allowance being $121.87 per rentable square foot of the Expansion Space.
Expansion Allowance. Landlord shall provide to Tenant an allowance equal to the lesser of (i) Two Hundred Four Thousand and No/100 Dollars ($204,000.00) (i.e., $40.00 per rentable square foot of space within the Expansion Premises), or (ii) the actual cost of Tenant Improvements, as such term is defined in Work Letter (the “Expansion Allowance”). The Expansion Allowance is subject to and shall be paid by Landlord pursuant to the terms and conditions of Exhibit B. Notwithstanding anything to the contrary contained herein, Tenant may elect to use the Expansion Allowance at any time prior to May 1, 2011 (provided that the final Draw Request, as set forth in Section 10(b) of Exhibit B is delivered to Landlord on or before such date).
Expansion Allowance. Landlord shall, on the Expansion Date, provided that no uncured Event of Default then exists, pay Tenant an allowance of $603,315 for tenant improvements to the Buildings (the “Expansion Allowance”). The Expansion Allowance is in addition to the Allowance described in the Basic Lease Provisions on pages iv and v of the Original Lease, which Tenant acknowledges has been paid in full.
Expansion Allowance. Tenant acknowledges and agrees that Tenant may make leasehold improvements to the Expansion Space only in accordance with the provisions of Section 7.03 of this Lease (the “Expansion Improvements”). Landlord shall reimburse Tenant for all expenses incurred in connection with such Expansion Improvements up to the amount of One Hundred Eighty-Nine Thousand Eight Hundred Fifty-Six and No/100 Dollars ($189,856.00) (the “Expansion Allowance”). The Expansion Allowance shall be paid by Landlord to Tenant within thirty (30) days following Tenant’s written request therefor (which request shall be accompanied by reasonable evidence of such expenses), provided that (i) Tenant requests all such reimbursements on or before December 31, 2015, and (ii) Landlord shall be entitled to a construction oversight fee equal to two and one-half percent (2.5%) of the total hard and soft costs of the Expansion Improvements requested to be reimbursed, which construction oversight fee shall be deducted from the Expansion Allowance and paid to Landlord at the time such reimbursement is made. If Tenant fails to exercise such right as aforesaid, Tenant shall be deemed to have waived its rights pursuant to this Section 6.
Expansion Allowance. The outside date for Tenant to request payment of the Expansion Allowance as set forth in Paragraph 6 of the Second Amendment shall be extended to December 31, 2016.
