Final Tenant Improvement Payment Clause Samples
The Final Tenant Improvement Payment clause outlines the process and conditions under which the landlord will make the last payment to the tenant or contractor for improvements made to the leased premises. Typically, this payment is contingent upon the completion of all agreed-upon improvements, submission of necessary documentation such as lien waivers, and inspection or approval by the landlord. By specifying these requirements, the clause ensures that all work is satisfactorily completed and that the landlord is protected from potential claims or unfinished work before releasing the final funds.
Final Tenant Improvement Payment. Within thirty (30) days after the Date of Completion, District may file in the Office of the County Recorder a Notice of Completion of the Work herein agreed to be done by Contractor. Within sixty (60) days of the Date of Completion, the difference between the GMP and all payments theretofore made to Contractor shall be due and payable to Contractor excepting only such sum or sums as may be withheld or deducted in accordance with the terms of this Facilities Lease. All prior certifications, upon which partial Tenant Improvement Payments may have been made, being merely estimates, shall be subject to correction in the final certificate.
Final Tenant Improvement Payment. Within thirty (30) days after the Date of Completion, District will file in the Office of the County Recorder, a Notice of Completion of the Work herein agreed to be done by Contractor. On the expiration of thirty-five (35) days after the recordation of such Notice of Completion, the difference between the Guaranteed Maximum Price and all payments theretofore made to Contractor shall be due and payable to Contractor excepting only such sum or sums as may be withheld or deducted in accordance with the terms of this Facilities Lease. All prior certifications, upon which partial Tenant Improvement Payments may have been made, being merely estimates, shall be subject to correction in the final certificate.