Expansion Premises Allowance Clause Samples
Expansion Premises Allowance. Tenant shall be entitled to the Expansion Premises Allowance for use in connection with the Expansion Premises Improvements. provided however. that Landlord shall have no obligation to disburse all or any portion of the Expansion Premises Allowance to Tenant unless Tenant makes a request for disbursement pursuant to the terms and conditions set forth below: and provided further that Landlord shall have no obligation to disburse all or any portion of the Expansion Premises Allowance if Tenant makes a request for a disbursement of the Expansion Premises Allowance on or after June 30, 2017: it being understood that any unused portion of the Expansion Premises Allowance shall be forfeited on June 30, 2017. For the avoidance of doubt, no portion of the Expansion Premises Allowance shall be used to pay for the costs and expenses of any work at the Expansion Premises not included in the Expansion Plans and Specifications. and Tenant shall be responsible at its sole cost and expense. for all costs and expenses incurred in connection with such work . Landlord shall reimburse Tenant for any actual, out-of-pocket costs and expenses which constitute Qualified Expenses paid by Tenant for the Expansion Premises Improvements up to the amount of the Expansion Premises Allowance. Landlord's payment of such amount shall not be deemed Landlord's approval or acceptance of the work furnished or materials supplied in connection with the Expansion Premises Improvements as set forth in Tenant's payment request. Tenant shall pay the applicable excess out of its own funds if, when and to the extent that the cost of the Expansion Premises Improvements exceeds the Expansion Premises Allowance. Tenant shall not be entitled to a credit for any unused portion of the Expansion Premises Allowance. Landlord shall be entitled to receive the Expansion Construction Management Fee from Expansion Premises Allowance in connection with its management of the construction of the Expansion Premises Improvements. During the construction of the Expansion Premises Improvements, Landlord shall make monthly disbursements of the Expansion Premises Allowance and shall authorize the release of (xxxxx) for the benefit of Tenant in accordance with and subject to the terms and conditions of Section 2.6.1 of the Lease, except that all references therein to: (a) tile Tenant Improvements shall refer to the Expansion Premises Improvements; (b) the Premises shall refer to the Expansion Premises; (c) the Tenant Impr...
Expansion Premises Allowance. The sum of Ninety-Five and No/ J OO Dollars ($95.00) per rentable square foot of the Expansion Premises in an aggregate amount not to exceed Seven Hundred Fifty Thousand Five Hundred and No/ JOO Dollars (5750, 500.00). In addition, the Expansion Premises Allowance shall include the Supplemental Expansion Improvement if and to the extent Tenant elects to receive the Supplemental Expansion Improvement Allowance.''
Expansion Premises Allowance. Landlord shall provide Tenant with the “Expansion Premises Allowance” in accordance with the provisions of Exhibit B attached hereto.
Expansion Premises Allowance. Landlord agrees to contribute a tenant improvement allowance (the “Expansion Premises Allowance”) as follows: (x) in the event that the Expansion Fair Market Value is $65.00 per rentable square foot, an amount of up to $60.00 per rentable square foot of the Expansion Premises; and (y) in the event that the Expansion Fair Market Value is in excess of $65.00 per rentable square foot, an amount as set forth in the Rent Notice, as the same may be disputed and determined as set forth above. The Expansion Premises Allowance shall be for the design and construction of the Initial Installations for the Expansion Premises in accordance with Section 4.2 of the Lease. Landlord shall make progress payments from the Expansion Premises Allowance in accordance with the requirements and procedures of Section 2.2.F of the Lease. Any amount of the Expansion Premises Allowance which has not been previously requisitioned by Tenant on or before the twenty-nine (29) months from the Expansion Premises Commencement Date shall be retained by Landlord and Tenant shall have no further right or claim thereto