First Amendment Allowance Clause Samples
First Amendment Allowance. Tenant shall be entitled to a one-time tenant improvement allowance in an amount equal to ($180,378.00) (the “First Amendment Allowance”) for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Additional Premises and/or the Existing Premises (the “Tenant Improvements”). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the First Amendment Allowance. All Tenant Improvements for which the First Amendment Allowance has been utilized shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail to use the entire First Amendment Allowance within one (1) year following the Additional Premises Commencement Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts.
First Amendment Allowance. Subject to the terms and provisions of this Work Letter, Landlord shall pay the cost of the First Amendment Improvements (the “Work”) up to the amount of the First Amendment Allowance. If the amount of the lowest qualified bid to perform the Work exceeds the First Amendment Allowance, Tenant shall bear the cost of such excess and shall pay the estimated cost of such excess to Landlord prior to commencement of construction of such First Amendment Improvements (the “Tenant’s Excess Payment”) and a final adjusting payment based upon the actual costs of the First Amendment Improvements shall be made when the First Amendment Improvements are completed. If there is such an overage, then Landlord will pay the contractors from the First Amendment Allowance and the Tenant’s Excess Payment on a pro-rata basis, i.e., based on a ratio of the First Amendment Allowance to the Tenant’s Excess Payment; for illustration purposes only, if the Landlord’s allowance contribution is $15,000 and the Tenant’s Excess Payment is $5,000, and a payment of $1,000 is due to the contractors, then such $1,000 payment shall be payable out of the Landlord’s allowance contribution and the Tenant’s Excess Payment on a 3:1 ratio, such that $750 shall be paid from the Landlord’s allowance contribution and $250 shall be paid from the Tenant’s Excess Payment. If the cost of the Work is less than such amount, then Tenant shall not receive any credit whatsoever for the difference between the actual cost of the Work and the First Amendment Allowance, except as expressly set forth in Paragraph (h) below. All remaining amounts due to Landlord shall be paid within ten (10) days following the earlier of (i) Substantial Completion of the First Amendment Improvements or (ii) presentation of a written statement of the sums due hereunder, which statement may be an estimate of the cost of any component of the Work. The cost of the permits, working drawings, hard construction costs, mechanical and electrical planning, fees, permits, general contract overhead, and a coordination fee payable to Landlord equal to two percent (2%) of the actual costs of construction and such costs or permits, fees, planning and contractor overhead shall be payable out of the First Amendment Allowance and shall be included in the cost of the Work. The cost of the Work shall not include any other fees payable to Landlord. Tenant or the general contractor shall not be charged for utilities and parking in connection with the constru...
First Amendment Allowance. ▇▇▇▇▇▇ REALTY ▇▇▇▇▇▇ Centre Del Mar [First Amendment) [Airgain, I nc.] 812329.01/ WLA 373647-00023/2-I ▇-▇▇/▇▇/▇▇ -
First Amendment Allowance. Notwithstanding any contrary provision contained in the Lease, including, without limitation, Section 2 of the First Amendment, the Auditorium Allowance shall be treated as part of the Improvement Allowance, and such allowance may be used towards costs relating to any Improvement Allowance Items.