Extension Allowance. Tenant shall have the right, to be exercised (if at all) between September 1, 2019 and December 31, 2020, to request in writing that Landlord construct and install various leasehold improvements within the Premises (the “Extension Improvements”). If Tenant fails to exercise such right as aforesaid and hereinafter provided, Tenant shall be deemed to have waived its rights pursuant to this Section 8. In the event Tenant exercises such right as aforesaid, the Extension Improvements shall be approved by Landlord and performed in accordance with the Alterations provisions defined in Section 14(b) - (d) of the Lease, except as otherwise expressly set forth herein. Provided the Extension Improvements requested by Tenant are reasonably acceptable to Landlord. Landlord, and not contractors or subcontractors selected by Tenant shall construct and install the Extension Improvements with reasonable speed and diligence. If the cost to construct and install the Extension Improvements exceeds One Hundred Seven Thousand Six Hundred Thirty and No/100 Dollars ($107,630.00) (the “Extension Allowance”), Tenant shall deliver such excess to Landlord within thirty (30) days following substantial completion of the Extension Improvements and Landlord’s written demand thereof. Tenant at Tenant’s option, shall have the right to apply up to Fifty-Three Thousand Eight Hundred Fifteen and No/100 ($53,815.00) of the Extension Allowance against the cost of Tenant’s furnishings, fixtures and equipment for use at the Premises. Any portion of the Extension Allowance remaining as of December 31, 2020 shall be the property of Landlord. Tenant agrees that the construction and installation of the Extension Improvements at the Premises shall be performed by a subsidiary or affiliate of Landlord, that such subsidiary or affiliate shall receive a fee as Landlord’s general contractor in the amount of five and one-half percent (5.5%) of the total soft and hard costs to construct and install the Extension Improvements, and that such fee shall be applied against the Extension Allowance. It is hereby agreed that the scope of possible Extension Improvements attached as Exhibit B hereto, and made a part hereof are reasonable and approved by Landlord; provided, however, that Tenant acknowledges and agrees that the prices contained in said scope are merely estimates, and Landlord shall reprice the scope at such time as Tenant exercises its right to have Landlord construct and install the Extension Improvements.
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Samples: Deed of Lease (Maravai Lifesciences Holdings, Inc.), Deed of Lease (Maravai Lifesciences Holdings, Inc.)
Extension Allowance. (a) Except as set forth in Section 7 below, Tenant acknowledges that Landlord shall have not be required to perform any work to the rightNew Premises in connection with this Amendment or the extension of the Term. Landlord hereby agrees, subject to the limitations set forth in this Section 6, to be exercised pay to Tenant up to a maximum of $107,410.00 (if at all) between September 1, 2019 and December 31, 2020, to request in writing that Landlord construct and install various leasehold improvements within the Premises (the “Extension Improvements”). If Tenant fails to exercise such right as aforesaid and hereinafter provided, Tenant shall be deemed to have waived its rights pursuant to this Section 8. In the event Tenant exercises such right as aforesaid, the Extension Improvements shall be approved by Landlord and performed in accordance with the Alterations provisions defined in Section 14(b) - (d) $10.00 per rentable square foot of the Lease, except as otherwise expressly set forth herein. Provided the Extension Improvements requested by Tenant are reasonably acceptable to Landlord. Landlord, and not contractors or subcontractors selected by Tenant shall construct and install the Extension Improvements with reasonable speed and diligence. If the cost to construct and install the Extension Improvements exceeds One Hundred Seven Thousand Six Hundred Thirty and No/100 Dollars ($107,630.00New Premises) (the “Extension Allowance”) toward the actual hard costs incurred by Tenant in connection with any improvements to the New Premises performed by, or on behalf of, Tenant, which improvements shall be made and approved in advance by Landlord as required by and in compliance with Section 7.4 of the Lease (“Extension Improvements”). Notwithstanding the foregoing, Tenant shall deliver such be permitted to use up to $26,852.50 of the Extension Allowance for “soft” costs (including, but not limited to, cabling, furniture, moving, telephones, architects and engineering services and filing fees). The cost of any Extension Improvements in excess of the Extension Allowance shall be Tenant’s sole responsibility. The Extension Allowance shall become available to Landlord within thirty (30) days following substantial completion of Tenant upon the New Premises Commencement Date. If Tenant does not complete the Extension Improvements and Landlord’s written demand thereof. submit its request for payment of all or a portion of the Extension Allowance, together with the documentation set forth in Section 6(b), on or before February 1, 2020, Landlord shall have no obligation to pay any such portion of the Extension Allowance to Tenant and any approved leasehold improvements performed thereafter shall be at Tenant’s option, sole cost and expense. Tenant shall have the right be permitted to apply up to Fifty-Three Thousand Eight Hundred Fifteen and No/100 ($53,815.00) 16,111.50 of the Extension Allowance against that is remaining on February 1, 2020 to the cost payment of Tenant’s furnishings, fixtures and equipment for use at the PremisesBasic Rent. Any portion of the Extension Allowance in excess of $16,111.50 that is remaining as of December 31on February 1, 2020 shall be the property of Landlord. Tenant agrees that the construction and installation of the Extension Improvements at the Premises shall be performed by a subsidiary or affiliate of Landlord, that such subsidiary or affiliate shall receive a fee as Landlord’s general contractor in the amount of five and one-half percent (5.5%) of the total soft and hard costs to construct and install the Extension Improvements, and that such fee shall be applied against the Extension Allowance. It is hereby agreed that the scope of possible Extension Improvements attached as Exhibit B hereto, and made a part hereof are reasonable and approved by Landlord; provided, however, that Tenant acknowledges and agrees that the prices contained in said scope are merely estimates, and Landlord shall reprice the scope at such time as Tenant exercises its right to have Landlord construct and install the Extension Improvementsforfeited.
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Extension Allowance. Tenant shall have the right, to be exercised (if at all) between September 1, 2019 and December 31, 2020, to request in writing that Landlord construct and install various leasehold improvements within the Premises (the “Extension Improvements”). If Tenant fails to exercise such right as aforesaid and hereinafter provided, Tenant shall be deemed to have waived its rights pursuant to this Section 8. In the event Tenant timely exercises such its three (3) – year extension right set forth in Section 10 below (i.e., from February 1, 2027 – January 31, 2030), Landlord shall provide an allowance of up to $15.00 per rentable square foot of space leased by Tenant on the eighth (8th) floor Premises portion of the Building and on the Fourth Expansion Premises, as aforesaid, the Extension Improvements shall be approved by Landlord and performed in accordance with the Alterations provisions defined in Section 14(b) - the Fifth Amendment (d) of the Leasecollectively, except as otherwise expressly set forth herein. Provided the Extension Improvements requested by Tenant are reasonably acceptable to Landlord. Landlord, and not contractors or subcontractors selected by Tenant shall construct and install the Extension Improvements with reasonable speed and diligence. If the cost to construct and install the Extension Improvements exceeds One Hundred Seven Thousand Six Hundred Thirty and No/100 Dollars ($107,630.00) (the “Extension Allowance”) (e.g., if Tenant is occupying 36,700 rentable square feet of space on the eighth (8th) floor and 450 rentable square feet in the Fourth Expansion Premises, the Extension Allowance would be up to $557,250.00) that Tenant may use towards funding the Tenant’s Improvements within any of the Premises on the eighth (8th) floor of the Building or any of the Premises making up the Fourth Expansion Premises; provided, however, the Extension Allowance shall be paid only for work performed on the eighth (8th) floor Premises or Fourth Expansion Premises portion of the Building from and after the commencement of the foregoing three (3) – year extension period. Except as otherwise expressly provided above (e.g., the Demolition Allowance and the Extension Allowance), the applicable components of the Eighth Amendment Allowance(s) may only be used for hard or soft costs actually incurred by Tenant in connection with Tenant’s Improvements within any portion of the Expansion Premises demised hereunder and any portion of the Expansion Premises demised under the Seventh Amendment to Lease (and may be applied disproportionately thereto in Tenant’s sole discretion; provided in no event shall the application of any Eighth Amendment Allowance to any particular Expansion Premises exceed 150% of the original Eighth Amendment Allowance allocated to that Expansion Premises above or, if applicable, to any particular Expansion Premises allocated to that Expansion Premises under the Seventh Amendment), subject to the terms and conditions hereof, but may not be used for other areas or portions of the Premises (or Sixth Expansion Premises) without the prior written consent of Landlord, which consent may be granted or withheld in Landlord’s sole discretion. Notwithstanding the foregoing, any or all portions of the Eighth Amendment Allowance(s) may be used for hard or soft costs actually incurred by Tenant in connection with Tenant’s Roof-Top Area, including Roof-Top Equipment, Exterior Dueling, interior dueling, and conduits, equipment and other infrastructure and materials required to exhaust or vent from, or connect electrical service and other utilities to, any of the Premises. No portion of the Eighth Amendment Allowance may be used for Tenant’s furniture, fixtures, equipment, cabling and/or other personal property. Provided Tenant shall deliver such excess not then be in default of the Lease beyond applicable notice and/or cure periods, or there shall not then be occurring any circumstance or state of facts which, with notice or the passage of time or both, would result in a breach or default hereunder that is not cured within the applicable cure period, the payment of the applicable portion of the Eighth Amendment Allowance shall be made to Landlord reimburse Tenant for amounts spent on Tenant’s Improvements within thirty (30) days following substantial Tenant’s requisition therefor generally in accordance with Section 14(c) of the Fifth Amendment such that no more than fifty percent (50%) of that portion of the Eighth Amendment Allowance corresponding to the cost of the Tenant’s Improvements within the applicable portion of the Expansion Premises will be paid upon satisfactory completion of all rough inspections by the Extension Improvements City of Boston Inspectional Services Department for the work within the particular portion of the Expansion Premises, and Landlord’s written demand thereof. Tenant at the remaining fifty percent (50%) of that portion of the Eighth Amendment Allowance corresponding to the cost of the Tenant’s option, Improvements within the applicable portion of the Expansion Premises will be paid within thirty (30) days following delivery to Landlord of (i) a final Certificate of Occupancy issued by the City of Boston Inspectional Services Department for the work within the particular portion of the Expansion Premises; and (ii) satisfactory lien waivers from all contractors and other satisfactory evidence that all contractors have been paid or will be paid in full for the work within the particular portion of the Expansion Premises. Landlord shall have no obligation to advance any funds or pay any amounts on account of Tenant’s Improvements in excess of the right Eighth Amendment Allowance (excluding any allowances outstanding as of the date hereof under the Lease as previously amended) and in the event Tenant fails to apply up request any portion of any applicable Eighth Amendment Allowance, pursuant to Fiftythe terms and conditions hereof, within forty-Three Thousand Eight Hundred Fifteen and No/100 two ($53,815.0042) months of the corresponding Expansion Premises Commencement Date, or in the case of the Extension Allowance against the cost of Tenant’s furnishings, fixtures and equipment for use at the Premises. Any portion within thirty-six (36) months of the Extension Allowance remaining as of December 31, 2020 shall be the property of Landlord. Tenant agrees that the construction and installation commencement of the Extension Improvements at extended Term, as shown on the Premises shall be performed by a subsidiary or affiliate of Landlordattached Exhibit G, that such subsidiary or affiliate shall receive a fee as Landlord’s general contractor in the amount of five and one-half percent (5.5%unrequested portion(s) of the total soft and hard costs to construct and install the Extension Improvements, and that such fee applicable Eighth Amendment Allowance(s) shall be applied against forfeit and no longer available for request hereunder. For clarification, Tenant may only request reimbursement from the Extension Allowance. It is hereby agreed that Supplemental Improvement Allowance for costs incurred in connection with a particular Expansion Premises within forty-two (42) months of the scope of possible Extension Improvements attached as Exhibit B hereto, and made a part hereof are reasonable and approved by Landlord; provided, however, that Tenant acknowledges and agrees that the prices contained in said scope are merely estimates, and Landlord shall reprice the scope at such time as Tenant exercises its right to have Landlord construct and install the Extension Improvementscorresponding Expansion Premises Commencement Date.
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