Common use of Expansion Premises Tenant Improvements Clause in Contracts

Expansion Premises Tenant Improvements. (a) Following the mutual execution and delivery of this Amendment and prior to the Second Renewal Term Commencement Date, Landlord shall construct and install certain improvements within the Expansion Premises (collectively herein, the “Expansion Premises Tenant Improvements”), which shall be constructed in accordance with (i) the all applicable laws including the Americans with Disabilities Act, as the same are in affect as of the Second Renewal Term Commencement Date only, and (ii) the space plan (“Space Plan”), prepared by AAI, dated April 4, 2009 (“Space Plan”) attached hereto as Exhibit C. As part of the Expansion Premises Tenant Improvements, Landlord will be responsible for installing a single 3’ x 9’ glass door in the Tenant’s conference room adjacent to reception and for installing clear tempered, butt-jointed glass sections in the balance of the conference room wall. The Expansion Premises Tenant Improvements shall be constructed by Landlord, with the cost of construction of those Expansion Premises Tenant Improvements which constitute Building standard improvements to be borne by Landlord and the costs of construction of any Expansion Premises Tenant Improvements constituting Tenant Extra Improvements (if any) (such costs herein collectively, the “Expansion Premises Tenant Extra Improvements Costs”) being borne by Tenant. Notwithstanding the foregoing, in the event of any Tenant’s Delay (as defined in this Amendment and not the First Amendment), Tenant shall also be responsible for all increased costs of construction of the Expansion Premises Tenant Improvements incurred by Landlord as a result of such Tenant’s Delay (such costs referred to collectively herein as “

Appears in 3 contracts

Samples: Office Building Lease (GP Investments Acquisition Corp.), Office Lease (Rimini Street, Inc.), Office Lease (Rimini Street, Inc.)

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Expansion Premises Tenant Improvements. (a) Following the mutual execution and delivery of this Amendment and prior to the Second Renewal Term Commencement Date, a. Landlord shall construct make available to Tenant a tenant improvement allowance equal to One Hundred Forty-Eight Thousand Four Hundred Seventy and install certain No/100 Dollars ($148,470.00) (based on $10.00 per square foot of Rentable Area) (the “Base Expansion Premises TI Allowance”) in order to fund appropriate improvements within to the Expansion Premises consistent with the Expansion Premises Permitted Use (collectively herein, the “Expansion Premises Tenant Improvements”), which shall to be constructed performed by Tenant at Tenant’s sole cost in accordance with this Amendment and the Work Letter attached to this Amendment as Exhibit C (the “Expansion Premises Work Letter”), subject only to Landlord’s obligation to disburse the Base Expansion Premises TI Allowance (and, if properly requested in accordance with the Amendment, the Additional Expansion Premises TI Allowance (as defined below)) in accordance with the Amendment. In addition, if properly requested by Tenant in accordance with the Amendment, Landlord shall make available to Tenant an additional tenant improvement allowance of One Million One Hundred Thirteen Thousand Five Hundred Twenty-Five and No/100 Dollars ($1,113,525.00) (based on $75.00 per square foot of Rentable Area (of which Tenant may elect to spend a portion not to exceed Two Hundred Ninety-Six Thousand Nine Hundred Forty and No/100 Dollars ($296,940.00) (based on $20.00 per square foot of Rentable Area) on the purchase of furniture, personal property or other non-building system equipment) (the “Additional Expansion Premises TI Allowance”). The Base Expansion Premises TI Allowance and any Additional Expansion Premises TI Allowance (if properly requested by Tenant in accordance with this Amendment), are referred to herein collectively as the “Expansion Premises TI Allowance”). Landlord shall not be obligated to expend any portion of the Expansion Premises Additional TI Allowance until Landlord shall have received from Tenant a letter in the form attached as Exhibit D hereto executed by an authorized officer of Tenant. b. The Expansion Premises TI Allowance may be applied to the costs of (i) the all applicable laws including the Americans with Disabilities Actconstruction, as the same are in affect as of the Second Renewal Term Commencement Date only, and (ii) the space plan project review and oversight by Landlord (“Space Plan”which fee shall be a flat fee equal to Twenty-Five Thousand and No/100 Dollars ($25,000.00), prepared (iii) commissioning of mechanical, electrical and plumbing systems by AAIa licensed, dated April 4qualified commissioning agent hired by Tenant, 2009 and review of such party’s commissioning report by a licensed, qualified commissioning agent hired by Landlord, (“Space Plan”iv) attached hereto as Exhibit C. As part space planning, architect, engineering and other related services performed by third parties unaffiliated with Tenant, (v) building permits and other taxes, fees, charges and levies by Governmental Authorities for permits or for inspections of the Expansion Premises Tenant Improvements, Landlord will be responsible and (vi) costs and expenses for installing a single 3’ x 9’ glass door in labor, material, equipment and fixtures. In no event shall the Tenant’s conference room adjacent to reception and for installing clear tempered, butt-jointed glass sections in the balance of the conference room wall. The Expansion Premises Tenant Improvements shall TI Allowance be constructed by Landlord, with used for (A) the cost of construction of those Expansion Premises Tenant Improvements which constitute Building standard improvements to be borne work that is not authorized by Landlord and the costs of construction of any Expansion Premises Tenant Improvements constituting Tenant Extra Improvements (if any) (such costs herein collectively, the “Expansion Premises Tenant Extra Improvements Costs”) being borne by Tenant. Notwithstanding the foregoing, in the event of any Tenant’s Delay Approved Plans (as defined in this Amendment and not the First Amendment), Tenant shall also be responsible for all increased costs of construction of the Expansion Premises Work Letter) or otherwise approved in writing by Landlord, (B) payments to Tenant Improvements incurred or any affiliates of Tenant, (C) except to the extent expressly permitted pursuant to Section 10(a) above, the purchase of any furniture, personal property or other non-building system equipment, (D) costs arising from any default by Tenant of its obligations under this Lease or (E) costs that are recoverable by Tenant from a third party (e.g., insurers, warrantors, or tortfeasors). c. Tenant shall have until May 31, 2021 (the “Base Expansion Premises TI Allowance Deadline”) to submit any requests to Landlord as a result of such Tenant’s Delay (such costs referred to collectively herein as “utilize or disburse the Expansion ​

Appears in 1 contract

Samples: Lease (Omeros Corp)

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