EXTENSION TERM(S) IMPROVEMENT ALLOWANCE Sample Clauses

EXTENSION TERM(S) IMPROVEMENT ALLOWANCE. During the first year of each Extension Term, Landlord has included a cosmetic/capital improvement allowance (the “Cosmetic/Capital Improvement Allowance”) of One Dollar ($1.00) per square foot of the Premises for the sole purpose of cosmetic/capital improvements to the Premises for the first (1st) Extension Term, a Cosmetic/Capital Improvement Allowance of Two Dollars ($2.00) per square foot of the Premises for the second (2nd) Extension Term, and a Cosmetic/Capital Improvement Allowance of One Dollar ($1.00) per square foot of the Premises for the third (3rd) Extension Term. Notwithstanding the foregoing, the Cosmetic/Capital Allowance for the second (2nd) Extension Term shall first be used for the replacement of the roof membrane for the entire Building. Tenant shall be entitled to seek disbursement from the available Cosmetic/Capital Allowance to be paid, at Tenant’s election, either to Tenant to the extent Tenant has previously paid such amounts or directly to Tenant’s contractors, their subcontractors, and suppliers for the cost of any cosmetic/capital improvements constructed or installed by such contractors, subcontractors, and/or suppliers. Landlord shall provide said disbursement within thirty (30) days after receipt of a written request for disbursement, provided that Tenant is in compliance with the following: (i) Landlord must receive a written request for disbursement from Tenant together with complete invoices with all back up including copies of invoices from subcontractors to support general contractor invoices; (ii) Landlord must have received W-9s for its contractor and direct subcontractors to be paid; (iii) Landlord must receive conditional upon progress lien waivers for each contractor, subcontractor or supplier who provides a pre-lien of the property with unconditional upon progress lien waivers for all previous disbursements to such party; and (iv) no Event of Default has occurred (or is continuing after the expiration of any applicable notice and cure period set forth in Section 10.02); provided, however, if a default by Tenant has occurred (which with the giving of notice or the passage of time, without cure, would become an Event of Default, then Landlord may delay such disbursement to confirm that such default is timely cured. All cosmetic/capital improvements shall be deemed to be “Alterations” and shall be subject to Section 6.05 in all respects. In the event that Tenant does not utilize the entire Cosmetic/Capital Allowance w...