Common use of Improvement Allowance Clause in Contracts

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right thereto.

Appears in 2 contracts

Samples: Office Lease (Appdynamics Inc), Office Lease (Appdynamics Inc)

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Improvement Allowance. Tenant shall be entitled to a one-time an improvement allowance in the amount of One Million Seven Hundred Seven Thousand Three Hundred Forty-Four ($1,707,344.00) (the “Expansion Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 the Premises (the “Expansion Improvements”) (which, the parties acknowledge shall not include Tenant’s furniture and personal property), including without limitation, such portion of the Premises outside the Expansion Premises, as Tenant may elect to improve. The Expansion Improvement Allowance may also be used to make improvements to the Common Area and Building (including, without limitation, as described hereinbelow in this Section 2) to the extent specifically contemplated in the Amendment, subject to any approval or other standards set forth in the Amendment, and such improvements shall be subject to all of the requirements contained in this Work Letter applicable to the Expansion Improvements. In additionaddition to the Improvement Allowance, Landlord shall contribute up to provide Tenant with an additional allowance in an amount equal not to exceed Twenty-Four Thousand Six Hundred and 00/100 Dollars ($0.15 per rentable square foot of Suite 700 24,600.00) (the “Test-Fit EXHIBIT B ContributionLobby Allowance”) toward payable by Landlord to Tenant upon Tenant’s written request, which Lobby Allowance shall be used only for the cost of one preliminary “test-fit” space plan soft and hard costs incurred by Tenant to be prepared by modify/remodel the Building’s lobby pursuant to and in accordance with the “ArchitectConstruction Drawings,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after , approved by Landlord in accordance with the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, terms and (ii) the mutual execution and delivery conditions of this AmendmentWork Letter. Any unused portion of the Lobby Allowance that Tenant has not timely and properly requested that Landlord disburse as of the first anniversary of the Delivery Date, shall remain the property of Landlord and Tenant shall have no further right thereto. In addition to the Improvement Allowance and the Lobby Allowance, Landlord shall deliver a check provide Tenant with an additional allowance in an amount not to exceed Nine Thousand Five Hundred and 00/100 ($9,500.00) (the “Security Allowance”) payable by Landlord to Tenant upon Tenant’s written request, which Security Allowance shall be used only for the soft and hard costs incurred by Tenant to install security cameras within the interior and exterior of the Building access control systems in the Building, all pursuant to and in accordance with the Construction Drawings, approved by Landlord in accordance with the terms and conditions of this Work Letter. Any unused portion of the Security Allowance that Tenant has not timely and properly requested that Landlord disburse as of the first anniversary of the Delivery Date, shall remain the property of Landlord and Tenant shall have no further right thereto. In addition to the Architect in Improvement Allowance, the lesser amount of (a) the amount set forth in such invoice from the ArchitectLobby Allowance, and the Security Allowance, Landlord shall provide Tenant with an additional allowance in an amount not to exceed Eight Thousand Two Hundred and 00/100 (b$8,200.00) (the amount “Suite 300 ADA Allowance”) payable by Landlord to Tenant upon Tenant’s written request, which Suite 300 ADA Allowance shall be used only for the soft and hard costs incurred by Tenant (in connection with the construction of the Test-Fit ContributionImprovements) to ensure that the Base Building serving Suite 300 is fully compliant with any applicable requirements of any applicable handicapped access laws pursuant to and in accordance with the Construction Drawings, approved by Landlord in accordance with the terms and conditions of this Work Letter. Any unused portion of the Suite 300 ADA Allowance that Tenant has not timely and properly requested that Landlord disburse as of the first anniversary of the Delivery Date, shall remain the property of Landlord and Tenant shall have no further right thereto. The Expansion Improvement Allowance, the Lobby Allowance, the Security Allowance, and the Suite 300 ADA Allowance shall be referred to herein, each individually and collectively as the context requires, as the “Improvement Allowance,” and the improvements to be constructed with all or a portion of the Improvement Allowance are collectively referred to herein as the “Improvements.” In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined and required in Section 4.2.14.2.1 of this Work Letter, nor shall Landlord be obligated to pay a total amount which to reimburse Tenant for the cost of any Improvements that exceeds the Improvement Allowance and the Test-Fit Contributionapplicable thereto. Notwithstanding the foregoing or any contrary provision of the Lease, all as amended, except as otherwise provided in Section 3.2 of this Work Letter, the Improvements shall be deemed Landlord’s property under the terms of the Lease, as amended. Any unused portion of the Improvement Allowance remaining that Tenant has not timely and properly requested that Landlord disburse as of January 1, 2017the first anniversary of the Delivery Date, shall remain with the property of Landlord and Tenant shall have no further right thereto. Without limiting the foregoing, Tenant and Landlord contemplate that the Improvements to the Premises and Building listed in Schedule X will be included in the Final Plans and Final Working Drawings.

Appears in 2 contracts

Samples: Office Lease, Office Lease (Splunk Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement an Improvement allowance (the “Improvement Allowance”) in the amount set forth in Section 13 of $65.00 per rentable square foot of Suite 700 the Summary for the costs relating to the initial design design, permitting and construction of the improvements which improvements, which, except as otherwise provided in Section 2.2.1, below, are permanently affixed to Suite 700 the Premises (the “Improvements”). Tenant may construct the Improvements on a phased basis throughout the entire Premises, In additionand in such event, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Testeach reference in Sections 2-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 6 of this Work Letter. Within thirty (30) days after Letter to the later “Premises” shall be deemed to occur of (i) Tenant’s delivery refer to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premisesapplicable “Phase”, and (ii) the mutual execution and delivery of each reference in this Amendment, Landlord shall deliver a check Work Letter to the Architect in “Improvement Allowance” shall refer to the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount portion of the Test-Fit ContributionImprovement Allowance calculated based on the rentable square footage of the applicable Phase. In Except with respect to the construction of the Base, Shell and Core, in no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit “Landlord’s Drawing Contribution” (as that term is defined below). Notwithstanding the foregoing or any contrary provision Tenant shall complete construction of the LeaseImprovements by the later of (i) seventeen (17) months after the Delivery Date for the applicable Phase, all Improvements and (ii) (a) September 30, 2019 for the Phase I Premises, (b) May 31, 2020 for the Phase II Premises, and (c) December 31, 2020 for the Phase III Premises (the applicable foregoing “later of” date is an “Outside Allowance Date”). Each Outside Allowance Date shall be deemed Landlord’s property under extended on a day-for-day basis for Force Majeure Delays and Landlord Caused Delays (as defined in Section 5.1 below). In the terms event that the applicable Improvement Allowance for any Phase is not utilized by Tenant as of the Lease. Any applicable Outside Allowance Date (as the same may be extended), then such unused portion of the Improvement Allowance remaining as of January 1amounts shall revert to Landlord, 2017, shall remain with Landlord and Tenant shall have no further right theretorights with respect thereto (provided, however, that for purposes of the foregoing, the Improvement Allowance for a particular Phase shall be deemed to have been ‘utilized’ for that Phase at such time as the Improvements for such Phase have been substantially completed, and Tenant has satisfied the requirements for such disbursement under Sections 2.2.2.2 and 4.3 and Schedule 4 attached hereto, even though Landlord may not have yet disbursed all amounts required to be disbursed). Any Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord’s and Landlord’s management company’s reasonable rules, regulations, and restrictions. In addition, Landlord shall contribute an amount not to exceed Twenty-Five Thousand and 00/100 Dollars ($25,000.00) (“Landlord’s Drawing Contribution”) toward the cost of a preliminary analysis and fit plan to be prepared by the “Architect” (as that term is defined below), and no portion of the Landlord’s Drawing Contribution, if any, remaining after completion of the Improvements shall be available for use by Tenant.

Appears in 2 contracts

Samples: Project Agreement (Dropbox, Inc.), Project Agreement (Dropbox, Inc.)

Improvement Allowance. Landlord hereby grants Tenant shall be entitled to a one-time improvement an allowance (the “Improvement Allowance”) in the amount of $65.00 16.30 per rentable square foot of Suite 700 the Expansion Premises, for use by Tenant in connection with the construction of improvements in the Expansion Premises. The Improvement Allowance shall be payable in monthly progress payments as costs are incurred and within forty five (45) days of invoice therefor and shall be subject to Landlord’s commercially reasonable disbursement requirements (which may include a specified date on which monthly draw requests are due). Except for the costs relating to Improvement Allowance (as the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to same may be prepared by the “Architect,” increased as that term is defined provided in Section 3.1 of this Work Letter. Within thirty (307.2, below) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered or as otherwise set forth in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check not be obligated to provide or pay for any improvement work or services related to the Architect initial improvement of the Expansion Premises, and Tenant shall accept the Expansion Premises in its presently existing, “as-is” condition. Notwithstanding the lesser amount of foregoing, Landlord shall deliver the Expansion Premises (a) broom clean, (b) in the amount set forth in such invoice from same condition existing as of the Architectdate hereof, (c) with any furniture, equipment and other personal property removed therefrom, and (bd) with all existing building systems serving the amount Expansion Premises in good working condition including, without limitation, HVAC, plumbing, fire sprinklers, roof membrane and electrical systems. Landlord shall also cause the exterior of the Test-Fit Contribution. In no event shall Landlord be obligated Expansion Premises and the surrounding area (including access thereto) to make disbursements pursuant comply with applicable laws and building codes (including, without limitation, the Americans with Disabilities Act), to this Work Letter in the event that Tenant fails extent required to promptly pay any portion allow the legal occupancy of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds Expansion Premises after the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision construction of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right theretoExpansion Improvements.

Appears in 2 contracts

Samples: Lease (Avinger Inc), Lease (Avinger Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance in the amount of $3,372,075.00 (i.e., $75.00 per rentable square foot of the Expansion Premises) (the “Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements improvements, which are permanently affixed to Suite 700 the Premises (the “Improvements”) (and Tenant acknowledges that $52,500.00 of such Improvement Allowance must be used for improvements to the Rooftop Decks), In addition, provided that in the event Tenant wishes to utilize any portion of the Improvement Allowance for the Existing Premises rather than the Expansion Premises then Tenant shall notify Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within writing within thirty (30) days after the later to occur of (i) following Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check First Amendment as to the Architect in the lesser amount of (awhich portion(s) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit ContributionPremises and/or Rooftop Decks that Tenant elects to use the Improvement Allowance towards. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails elects to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds use the Improvement Allowance and towards Improvements in the Test-Fit ContributionExisting Premises, then Landlord requires that Tenant accommodate a reallocation of any previously determined Schedule of Values under the Work Letter attached to the Office Lease. Notwithstanding the foregoing or any contrary provision of the Lease, as amended, all Improvements shall be deemed Landlord’s property under the terms of the Lease, as amended. Any Subject to the “Construction Risk Alternative,” as that term is defined in Section 4.2.1 below, EXHIBIT B any unused portion of the Improvement Allowance remaining as of January the date which is one (1, 2017, ) year from the delivery date of the Expansion Premises shall remain with Landlord and Tenant shall have no further right thereto.

Appears in 2 contracts

Samples: Office Lease (DoorDash Inc), Office Lease (DoorDash Inc)

Improvement Allowance. Landlord will reimburse Tenant shall be entitled up to a one-time improvement allowance an aggregate of $248,346 (the “New Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial cost of design and construction of improvements in the improvements which are permanently affixed to Suite 700 (Premises performed between the “Improvements”)effective date of this Amendment and September 30, In addition, 2006. Landlord shall contribute up make such reimbursement on or after October 1, 2006 upon delivery to an amount equal to $0.15 per rentable square foot it of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” receipted bills, lien waivers and such other documentation as that term is defined in Landlord shall reasonably require. Landlord shall make all reimbursement payments due under this Section 3.1 of this Work Letter. Within 5 within thirty (30) days after of receipt of the later required documentation from Tenant, but in no event prior to occur October 1, 2006. Construction of (i) improvements by Tenant shall comply with all terms and provisions of the Leases. Notwithstanding the above, so long as Tenant shall not then be in default under the Leases and provided that Tenant shall have expended and have been reimbursed for at least $198,676.80 of the New Improvement Allowance for costs of constructing Tenant’s delivery to Landlord leasehold improvements at the Premises (including the installation of an invoice from fixtures but excluding trade fixtures), Tenant shall have the Architect for services rendered right, in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery lieu of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay receiving any remaining undisbursed portion of the “Over-Allowance Amount,” as defined New Improvement Allowance, to direct Landlord in Section 4.2.1, nor shall Landlord be obligated writing to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property credit against its rental obligations under the terms of Leases that arise after September 30, 2006 but prior to December 31, 2006 (but not thereafter) the Lease. Any unused remaining portion of the New Improvement Allowance remaining as of January 1that shall not have been reimbursed to Tenant for construction costs (i.e., 2017, shall remain with Landlord and Tenant after the $198,676.80 amount referred to above shall have no further right theretobeen expended and reimbursed as required above).

Appears in 1 contract

Samples: NMT Medical Inc

Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the “"Improvement Allowance") in up to the amount set forth in Section 1.11 of $65.00 per rentable square foot of Suite 700 this Lease for the costs relating to the initial design and construction of the tenant improvements which that are permanently affixed to Suite 700 the Premises (the “"Improvements"), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of which Improvements may include (i) Tenant’s delivery to Landlord expansion of an invoice from the Architect for services rendered in preparing a preliminary space plan for exterior patio portion of the Premises, and (ii) the mutual execution installation of a shade trellis or other covering over such patio, (iii) repainting and delivery of recarpeting and (iv) other modifications as depicted on the attached Exhibit 1 to this AmendmentExhibit B, Landlord shall deliver a check to which improvements are herein approved by Landlord. Tenant must request the Architect in the lesser amount of (a) the amount Improvement Allowance, provide all documentation required under Section 2.2 below and satisfy all conditions set forth in such invoice from Section 2.2 below on or before July 31, 2017 or the Architect, and (b) the amount of the Test-Fit ContributionImprovement Allowance shall be deemed forfeited with no further obligation by Landlord with respect thereto. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or nor shall Tenant be entitled to any contrary provision credit for any unused portion of the Lease, all Improvement Allowance. The Improvements shall be deemed Landlord’s property under the terms of the this Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right thereto.

Appears in 1 contract

Samples: Industrial Lease Net (Alphatec Holdings, Inc.)

Improvement Allowance. Landlord agrees to provide to Tenant shall be entitled to a one-time improvement an allowance (the "Improvement Allowance") in the amount of Six Hundred Eighteen Thousand Three Hundred Twenty-One Dollars ($65.00 618,321.00) (or Sixteen and 50/100 Dollars ($16.50) per rentable square foot of Suite 700 for the costs relating Premises), to be applied solely to the initial design Construction Costs and the reasonably documented costs of Landlord's construction of the improvements which are permanently affixed manager not to Suite 700 exceed $1,200 (the “Improvements”being $60/hour for a 20 hour period), . In addition, Landlord shall contribute up agrees to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward fund 1/2 the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premisesdemising wall, and (ii) the mutual execution shipping door in the loading dock area and delivery other loading dock improvements as shown on Tenant's Plans, Landlord's portion of this Amendmentsuch costs not to exceed $10,000, to be built by Tenant in accordance with the Tenant's Plan. Subject to the provisions of Section C.3, below, the Construction Costs shall be paid by Landlord to the extent of, and shall be deducted by Landlord from, the Available Allowance, as invoices therefor are rendered to Landlord as and when Construction Costs are actually incurred by Tenant; provided, however, that Landlord shall deliver have received a check to final lien release and Tenant shall have satisfied all of the Architect in the lesser amount of (a) the amount other conditions set forth in such invoice from the ArchitectSection C.3, and (b) the amount of the Test-Fit Contributionbelow. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion does not expend all of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and for costs permitted hereunder, the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as shall be credited to monthly installments of January 1Fixed Rent B-3 66 next coming due under the Lease. Notwithstanding the foregoing, 2017, shall remain with Landlord and Tenant shall have no further right theretonot be permitted to use more than Fifty-Six Thousand Two Hundred Eleven Dollars ($56,211.00)(or One and 50/100 Dollars ($1.50) per rentable square foot of the Premises) of the Improvement Allowance for the Construction Costs pertaining to design fees, architectural and engineering drawings and construction documents.

Appears in 1 contract

Samples: Lease (I Stat Corporation /De/)

Improvement Allowance. Landlord hereby agrees to disburse to Tenant an amount up to Five Hundred Thousand and No/100ths Dollars ($500,000.00) to be used as an allowance for improvements (the "Improvement Allowance"), provided, however, Landlord agrees, to the extent any amount of the Improvement Allowance remains unused, Tenant may use said amounts to defray the cost of moving to and relocating into the Premises. Provided Tenant is not in default hereunder, Landlord's disbursement of the Improvement Allowance to Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) made in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 four (the “Test-Fit EXHIBIT B Contribution”4) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within installments approximately thirty (30) days after apart commencing on approximately April 15, 2001. Each installment shall be in an amount equal to the later invoicing incurred by Tenant in making said Improvements as of five days before disbursement, to occur a maximum total Tenant Allowance of $500,000.00. Provided, however, that Landlord shall not be obligated to disburse more than 90% (ninety percent) of the funds otherwise disbursable under this paragraph until and unless (i) Tenant’s delivery the applicable governmental authority has issued to Landlord Tenant a Certificate of an invoice from the Architect for services rendered in preparing a preliminary space plan for Occupancy as to the Premises, and ; (ii) Tenant has executed and delivered to Landlord an estoppel letter in a form reasonably acceptable to Landlord which includes (but may not be limited to) an acknowledgment by Tenant that Landlord is then in full compliance with the mutual execution and delivery Lease; (iii) Tenant delivers to Landlord sufficient satisfactions and/or releases of this Amendment, Landlord shall deliver notices and/or claims of lien so as to eliminate any potential for a check to the Architect claim or lien against Landlord's or Tenant's interests in the lesser amount of (a) Premises and the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter underlying fee simple interest in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right theretoPremises.

Appears in 1 contract

Samples: Agreement (Be Aerospace Inc)

Improvement Allowance. Except as expressly provided in this Work Letter, the total costs and expenses incurred by Landlord in connection with the design and construction of the Improvements (inclusive of, but not limited to, architectural costs, engineering costs, general contractor costs, and the cost of all local and state filing fees, permits and approvals, if any, required to be obtained in order to perform and complete the Improvements) shall not exceed an aggregate amount equal to $11,999,625.00 (i.e., $125.00 per rentable square foot of the Premises) (the "Improvement Allowance"), which is comprised of: (i) $1,274,000.00 for Improvements to the Phase I Premises (the “Phase I Improvement Allowance”), (ii) Improvements to the Phase II Premises (the “Phase II Improvement $4,311,000.00 for Improvements to the Phase III Premises (the “Phase $3,669,625.00 for Allowance”), (iii) III Improvement Allowance”), and (iv) $2,745,000.00 for Improvements to the Phase IV Premises (the “Phase IV Improvement Allowance”), provided that subject to the applicable Allowance Deadline set forth below, Tenant shall be entitled to use all or any portion of the Improvement Allowance for a one-time improvement allowance particular Phase towards the Improvements for the other Phases of the Premises. If Landlord determines that the total cost of the Improvements (which shall include the "Coordination Fee", as defined below, as well as all design, construction, installation and other costs) will exceed the Improvement Allowance, then Tenant shall be solely responsible for all such excess costs which are over and above the Improvement Allowance (the “Improvement Allowance”"Over-Allowance Amount"). Tenant shall pay any Over-Allowance Amount to Landlord within ten (10) in days after demand is made therefor by Landlord from time to time (including, at Landlord's election, prior to the amount commencement of $65.00 per rentable square foot construction of Suite 700 the Improvements). Any Over-Allowance Amount shall be disbursed by Landlord prior to any Landlord provided funds for the costs relating to the initial design and of construction of the improvements which are permanently affixed Improvements. Tenant hereby acknowledges that Landlord shall be entitled to Suite 700 a fee (the “Improvements”), In addition, Landlord shall contribute up to "Coordination Fee") payable by Tenant in an amount equal to $0.15 per rentable square foot three percent (3%) of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward Improvement Allowance, in consideration for Landlord's coordination and supervision of the cost performance of one preliminary “test-fit” space plan the Improvements, which Coordination Fee may be deducted from the Improvement Allowance to be prepared by the “Architect,” as that term is defined extent funds are available. Notwithstanding any provision to the contrary contained in Section 3.1 of the Lease or this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered , in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant pay for (A) any moving costs or expenses related to this Work Letter Tenant's move-in the event that Tenant fails to promptly pay any portion or occupancy of the “Over-Allowance Amount,” as defined in Section 4.2.1Premises, nor shall Landlord be obligated and/or (B) any costs or expenses associated with the purchase, installation or maintenance of any furniture (including, but not limited to, the cost of any reception desks, credenzas or chairs, whether identified on the Approved Pricing Plan or not), fixtures, equipment, art, cabling, audio/visual equipment, telecommunications systems, access controls, security systems and equipment, and/or signage related to pay a Tenant's occupancy of the Premises (collectively, "Tenant's FF&E"). If the total amount which exceeds costs of the Improvements do not exceed the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or Allowance, any contrary provision remaining funds upon completion of the Lease, all Improvements in accordance with the Working Drawings shall be deemed Landlord’s the sole and separate property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right or claim thereto. Notwithstanding anything to the contrary contained in this Work Letter, Tenant shall not be entitled to any portion of the applicable portion of the Improvement Allowance for a particular Phase for which Tenant has not submitted a request for disbursement to Landlord in compliance with the requirements of Section 4.4 below on or before the date which is twelve (12) months following the applicable Phase Lease Commencement Date (each, an "Allowance Deadline"), and any such remaining portion of the Improvement Allowance as of the applicable Allowance Deadline shall remain with Landlord as its sole property.

Appears in 1 contract

Samples: Office Lease (DermTech, Inc.)

Improvement Allowance. Landlord shall provide the Improvement Allowance to Tenant shall be entitled to a one-time improvement allowance (the in accordance with this Exhibit. “Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to ” means an amount equal to the sum of: (A) the product of $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared 65.00 multiplied by the Rentable Floor Area of the Initial Premises and the First Must-Take Premises, plus (B) the product of $55.50 multiplied by the Rentable Floor Area of the Second Must-Take Premises. The Leasehold Improvements in the First Must-Take Premises and the Second Must-Take Premises shall be consistent with the Leasehold Improvements in the Initial Premises, and completed prior to Tenant occupying the First Must-Take Premises and the Second Must-Take Premises, as applicable, for business. Except as may be expressly provided to the contrary in this Exhibit, the Improvement Allowance shall be applied solely towards payment of the Improvement Costs (specifically excluding furniture, fixtures, equipment, and/or data cabling). Architect,Improvement Costsas that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after means the later to occur of sum of: (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and Planning Costs; (ii) the mutual execution Construction Costs; and delivery (iii) Construction Management Fee and any of this Amendment, Landlord shall deliver a check to the Architect following (which may be included in the lesser amount of respective definitions for the three foregoing defined terms) to be used for and in connection with (a) the amount set forth in such invoice from purchase, installation and construction of Leasehold Improvements, (b) space planning, architectural and engineering expenses related to Leasehold Improvements, (c) plan review, permits, inspections and other governmental requirements and approvals relating to Leasehold Improvements, (d) construction management services relating to Leasehold Improvements (not to exceed 5% of the ArchitectImprovement Costs exclusive of the construction management fees), and (be) any and all costs, expenses, fees and charges incurred in connection with Leasehold Improvements and/or the amount items described in (a) through (e) in this sentence (specifically excluding furniture, fixtures, equipment, and/or data cabling). Notwithstanding the foregoing, no more than $4.50 multiplied by the Rentable Floor Area of the TestPremises (including without limitation, the First Must-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in Take Premises and the event that Tenant fails to promptly pay any portion Second Must-Take Premises) of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contributionmay be applied against architectural fees. Notwithstanding the foregoing or any contrary provision If, as of the Lease, all Improvements shall be deemed Landlord’s property under the terms 9-month anniversary of the Lease. Any unused Commencement Date, any portion of the Improvement Allowance remaining as remains unused for any reason under Tenant’s control, the Improvement Allowance shall be deemed reduced by such unused amount, and Landlord shall retain such undisbursed portion of January 1the Improvement Allowance which shall be deemed waived by Tenant and shall not be paid to Tenant, 2017credited against Rent, shall remain with Landlord and Tenant shall have no further right theretoor applied to Tenant’s moving costs or prior lease obligations.

Appears in 1 contract

Samples: Lease (Sailpoint Technologies Holdings, Inc.)

Improvement Allowance. Tenant shall be entitled Landlord agrees to a one-time provide an improvement reimbursement allowance up to $135,000 (the “Improvement AllowanceTIA”) in the amount of $65.00 per rentable square foot of Suite 700 to be used specifically for the costs relating improvements to the initial Premises to be constructed in accordance with plans and specifications prepared by Genesis Architecture dated July 9, 2002 and revised July 18, 2002 (the “Approved Plans”). The TIA shall be applied against all costs and expenses incurred in connection with the design of the tenant improvements, the preparation of the Approved Plans and the construction of the tenant improvements. Such tenant improvements which are permanently affixed include work performed by or at the request of Tenant prior to Suite 700 (the “Improvements”)date hereof; provided, In additionhowever, Landlord that the TIA shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward not be applied against the cost of one preliminary “test-fit” space plan any such work which was not performed in accordance with the Approved Plans. All improvements in excess of the $135,000 allowance shall be completed at the Tenant’s sole cost and expense, and must receive the Landlord’s prior written approval, which approval shall not be unreasonably delayed, conditioned or denied. Tenant, at Tenant’s sole cost and expense, shall cause any and all construction work at or about the Premises performed by or at the instance of Tenant, prior to the date hereof to comply in all respects with city ordinances, building codes and all other applicable laws. The Landlord, prior to the commencement of the work, shall approve the general contractor, which approval shall not be prepared by unreasonably delayed, conditioned or denied. The Landlord will disburse the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days improvement allowance directly to Tenant after the later work has been completed and all lien waivers and a certificate of occupancy (or, if the City of Bloomington does not issue certificates of occupancy, written approval or “sign off” from responsible city officials as to occur compliance of (ithe tenant improvements with city ordinances and codes) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check have been delivered to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount Landlord evidencing payment of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance improvements and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain compliance with Landlord and Tenant shall have no further right theretoapplicable laws.

Appears in 1 contract

Samples: Lease Agreement (Enpath Medical Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of Twenty and No/100 Dollars ($65.00 20.00) per rentable square foot of Suite 700 the Premises for the costs relating to the initial design and construction of the Tenant’s improvements which are permanently affixed to Suite 700 the Premises (the “Improvements”), . In addition, Landlord shall contribute reimburse Tenant for fees paid to Tenant’s Space Planner, HOK, up to an amount equal to a maximum of 15/100 Dollars ($0.15 .15) per rentable square foot of Suite 700 the Premises (the “Test-Fit EXHIBIT B ContributionPreliminary Plan Allowance) toward the cost of one preliminary “test-fit” space plan ), to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing prepare a preliminary space plan for the PremisesPremises (or, and (ii) the mutual execution and delivery of this Amendmentat Landlord’s election, Landlord shall deliver a check pay such amount directly to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit ContributionHOK). In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and (plus such Preliminary Plan Allowance). If by December 31, 2010, Tenant has not used the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision entire amount of the LeaseImprovement Allowance for Improvement Allowance Items (as defined below), all Improvements shall be deemed Landlord’s property under then the terms of the Lease. Any unused portion of the Improvement Allowance remaining (up to a maximum of Fifteen Dollars ($15.00) per rentable square foot of the Premises) shall be applied as a credit against the Monthly Basic Rental immediately next due under this Lease. If Landlord fails or refuses to disburse the Improvement Allowance to Tenant contrary to the provisions of January 1this Lease, 2017, shall remain with Landlord and then Tenant shall have no further the right theretoto offset all of the undisbursed portion of the Improvement Allowance against the first payment of monthly Basic Rental thereafter due hereunder.

Appears in 1 contract

Samples: Standard Office Lease (Move Inc)

Improvement Allowance. (a) Provided no monetary default, or non-monetary Event of Default beyond any applicable notice and cure periods, has occurred and is continuing under the Lease, Landlord shall grant Tenant shall be entitled to a one-time an improvement allowance (the “Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per 45.00 multiplied by the number of square feet of rentable square foot area in the Premises, to be applied toward the Leasehold Costs. Tenant shall have access to the Improvement Allowance on the Effective Date, subject to the disbursement requirements set forth herein. At least seventy-five percent (75%) of Suite 700 the Improvement Allowance shall be applied within the entire Premises toward “hard costs” (the “Test-Fit EXHIBIT B Contribution”) toward i.e., the cost of one preliminary “testdemolition, construction and installation of the Leasehold Work and acquisition of the materials for the Leasehold Work). In addition, Tenant may apply up to twenty-fit” space plan to be prepared by five percent (25%) of the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after Improvement Allowance toward the later to occur costs of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premisesaudio-visual systems, security systems, furniture, fixtures, equipment, and moving expenses (“Limited Soft Costs”) and (ii) architectural design fees, engineering services, permitting costs, cabling, data and telephone installation and related construction management fees (the mutual execution items described in clauses (i) and delivery (ii), collectively “Soft Costs”); provided, however, in no event may Tenant apply more than an amount equal to $5.00 multiplied by the number of this Amendment, Landlord shall deliver a check to the Architect square feet of rentable area in the lesser amount Premises toward the Limited Soft Costs. No part of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing may be applied towards signage costs or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Leaserental abatement or credits. Any unused portion of the Improvement Allowance remaining as that remains unreserved and unapplied by December 31, 2019 shall be deemed waived and forfeited. For purposes of January 1this Section 6(a), 2017, Improvement Allowance funds shall remain with Landlord be deemed reserved only to the extent that the Leasehold Work for which the Improvement Allowance funds will be applied has been completed and Tenant shall have no further right theretoa disbursement requisition for such funds has been submitted to Landlord.

Appears in 1 contract

Samples: Deed of Lease (Comscore, Inc.)

Improvement Allowance. Tenant Landlord shall be entitled to a one-time pay an improvement allowance (the “Improvement Allowance”) in the amount of totaling $65.00 35.10 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 Premises. Upon mutual execution of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused that portion of the Improvement Allowance remaining based on the 60,000 rentable square feet of the Initial Premises (“Initial Premises Improvement Allowance”) shall be immediately available for use in the payment of the Tenant Improvements in the Initial Premises in conformance with the Work Letter. That portion of the Improvement Allowance based on the 15,000 rentable square feet of the Contiguous Space (“Contiguous Space Improvement Allowance”) shall be available for use in the payment of the Tenant Improvements in the Contiguous Space: (i) immediately if used in conformance with Section 3.04 hereof, (ii) in conformance with the timing (as adjusted per Section 3.02) set forth in the Work Letter if Tenant elects to require Landlord to construct the Tenant Improvements in the Contiguous Space, or (iii) upon the Contiguous Space Commencement Date as a direct payment to the Tenant as such costs are incurred by Tenant if Tenant elects to construct the Tenant Improvements in the Contiguous Space. The Improvement Allowance shall be in addition to work completed at Landlord’s cost for construction of January 1the Base Building. There shall be no construction management and/or bonding fees charged against the Improvement Allowance on behalf of Landlord or Landlord’s employees, 2017agents, shall remain with Landlord or contractors. The Improvement Allowance includes programming, space planning, construction documentation, engineering, construction, change orders, cabling, consultants, project management, and other construction related costs. Tenant shall have no further has engage CRESA Partners (“CRESA”) for project management for construction of the Xxxxxxx Improvements. CRESA’s fee will be paid from the Improvement Allowance, or is to be paid by Tenant, at Tenant’s discretion. Tenant retains the right theretoto engage other consultants, architects, engineers, contractors, and vendors at its discretion, the cost of which, if within the above guidelines, may be deducted form the Improvement Allowance or paid separately by Tenant, in Tenant’s sole discretion.

Appears in 1 contract

Samples: Lease (Inverness Medical Innovations Inc)

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Improvement Allowance. Landlord hereby agrees to disburse to Tenant an amount up to Five Hundred Thousand and No/100ths Dollars ($500,000.00) to be used as an allowance for improvements (the "Improvement Allowance"), provided, however, Landlord agrees, to the extent any amount of the Improvement Allowance remains unused, Tenant may use said amounts to defray the cost of moving to and relocating into the Premises. Provided Tenant is not in default hereunder, Landlord's disbursement of the Improvement Allowance to Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) made in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 four (the “Test-Fit EXHIBIT B Contribution”4) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within installments approximately thirty (30) days after apart commencing on approximately April 15, 2001. Each installment shall be in an amount equal to the later invoicing incurred by Tenant in making said Improvements as of five days before disbursement, to occur a maximum total Tenant Allowance of $500,000.00. Provided, however, that Landlord shall not be obligated to disburse more than 90% (ninety percent) of the funds otherwise disbursable under this paragraph until and unless (i) Tenant’s delivery the applicable governmental authority has issued to Landlord Tenant a Certificate of an invoice from the Architect for services rendered in preparing a preliminary space plan for Occupancy as to the Premises, and ; (ii) Tenant has executed and delivered to Landlord an estoppel letter in a form reasonably acceptable to Landlord which includes (but may not be limited to) an acknowledgment by Tenant that Landlord is then in full compliance with the mutual execution and delivery Lease; (iii) Tenant delivers to Landlord sufficient satisfactions and/or releases of this Amendment, Landlord shall deliver notices and/or claims of lien so as to eliminate any potential for a check to the Architect claim or lien against Landlord's or Tenant's interests in the lesser amount of (a) Premises and the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter underlying fee simple interest in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit ContributionPremises. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right thereto.h.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement

Improvement Allowance. Provided Tenant shall be entitled is not in default beyond any applicable notice and cure periods, Landlord agrees to a one-time improvement allowance contribute an amount equal to $1,155,000.00 (the “Improvement Allowance”) in the amount of i.e., $65.00 25.00 per rentable square foot of Suite 700 the Premises) (the “Allowance”), toward the cost of performing the Initial Alterations in preparation of Tenant’s occupancy of the Premises. The Allowance may only be used for the costs relating to the initial cost of preparing design and construction documents; permitting costs, management fees, telecommunications and data cabling installation; costs of permitting and installing signage; mechanical and electrical plans for the Initial Alterations and for all other hard and soft costs in connection with the Initial Alterations). In addition, the Allowance may be used toward the cost of Tenant’s actual moving expenses and furniture costs. The Allowance, or such portion thereof that equals the amount expended by Tenant on the items described above, shall be paid to Tenant or, at Landlord’s option, to the order of the improvements which are permanently affixed general contractor that performed the Initial Alterations, within 30 days following substantial completion of the Initial Alterations and receipt by Landlord of Tenant’s requisition for the Allowance accompanied by (1) invoices covering all labor and materials expended and used in the Initial Alterations; (2) a sworn contractor’s affidavit from the general contractor and a request to Suite 700 disburse from Tenant; (3) full and final waivers of lien; (4) as-built plans (in both paper and CAD file formats) of the Initial Alterations; (5) an AIA-G704 from Tenant’s architect; and (6) a certificate of occupancy issued with respect to the Premises by the Inspectional Services Department of the City of Boston (“ISD”) or written evidence that other permission has been obtained from ISD for occupancy by Tenant of the Premises. The Allowance shall be disbursed in the amount reflected on the invoices meeting the requirements above. Notwithstanding anything herein to the contrary, Landlord shall not be obligated to disburse the Allowance during the continuance of an uncured Default under the Lease. Any portion of the Allowance that has not been requisitioned on or before the date that is two (2) years after the Commencement Date shall be forfeited by Tenant and remain the property of Landlord. In order to secure Landlord’s obligation to pay the Allowance to Tenant, Landlord shall deposit current funds in the amount of the Allowance with Fidelity National title Insurance Company (the “ImprovementsEscrow Agent”), In additionwho shall hold such funds and disburse same in accordance with an escrow agreement by and among Landlord, Tenant, and the Escrow Agent substantially in the form attached hereto as Exhibit K (the “Escrow Agreement”). Landlord and Tenant shall execute the Escrow Agreement on the Execution Date, and Landlord shall contribute up cause the Escrow Agent to execute the Escrow Agreement forthwith thereafter. Landlord shall fund the Escrow Agreement not later than the date that is two (2) Business Days after the Execution Date and provide an acknowledgment from the Escrow Agent of receipt of the same. If Landlord shall fail to deposit an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward Allowance with the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth Escrow Agent in such invoice from the Architecttime period, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further the right thereto.to terminate this Lease upon written notice to Landlord given at any time after such time period and before Landlord deposits such amount. EXHIBIT C-1 TENANT’S PRELIMINARY PLANS -1 EXHIBIT D COMMENCEMENT DATE AGREEMENT Date Tenant Address Re: Commencement Letter with respect to that certain Lease dated as of the day of , , by and between , a ,as Landlord, and , as Tenant, for rentable square feet on the floor of the Building located at , Massachusetts, . Dear : In accordance with the terms and conditions of the above referenced Lease, Tenant accepts possession of the Premises and agrees:

Appears in 1 contract

Samples: Office Lease Agreement (Zipcar Inc)

Improvement Allowance. Tenant Landlord agrees that it shall be entitled pay to a one-time improvement allowance (Tenant, for each of the four Phases and the Expansion Premises, if any, the Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating , subject to the initial design and construction terms of this Section 17.2.2. As of the improvements which are permanently affixed to Suite 700 (the “Improvements”), In additionEffective Date, Landlord shall contribute make available to Tenant up to an Five and 00/100 Dollars ($5.00) of the Improvement Allowance for each Phase, which may be used towards Tenant’s architectural, engineering and legal costs, which amount equal shall be paid to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within Tenant within thirty (30) days after the later to occur of (i) Landlord’s receipt of Tenant’s delivery written request therefor, as evidenced by bills and invoices in detail reasonably satisfactory to Landlord of an invoice from Landlord. The remaining Improvement Allowance for each Phase and the Architect for services rendered in preparing a preliminary space plan for the Expansion Premises, as applicable, shall be available to Tenant commencing sixty (60) days prior to the date Landlord delivers each Phase of the Premises to Tenant or the Expansion Premises, as applicable, and (ii) the mutual execution and delivery of this Amendmentmonthly thereafter, Landlord shall deliver a check make progress payments to Tenant in an amount equal to the Architect costs incurred by Tenant in the lesser amount of performing Tenant’s Improvements (a) the amount less any sums previously provided by Landlord as set forth in such invoice above) from the Architecttime to time, which shall include both hard construction costs and soft construction costs (including, but not limited to, furniture, fixtures, equipment, moving costs, cabling, telecommunications equipment, phones, and consultant fees), as certified by Tenant’s architect, and upon written request by Tenant, as evidenced by bills and invoices in detail reasonably satisfactory to Landlord, provided that any such progress payments shall not include the ten percent (b10%) retention amount to be withheld from Tenant’s general contractor or its subcontractors, and further, that at the amount time of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance such request and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right thereto.scheduled payment:

Appears in 1 contract

Samples: Office Lease Agreement (Paylocity Holding Corp)

Improvement Allowance. Tenant Landlord shall be entitled to a one-time provide an improvement allowance (the “"Improvement Allowance") for Tenant of up to $200,000.00 as reimbursement toward costs approved by Landlord and incurred by Tenant in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating making any improvements to the initial design and construction Premises in preparation for Tenant's occupancy of the improvements which are permanently affixed to Suite 700 Premises (the “Improvements”excluding furniture, fixtures and equipment), In additionwhich improvements shall otherwise be made in accordance with all terms, covenants and conditions of this Lease, including, but not limited to, the provisions of Article 9. Landlord shall contribute up pay the Improvement Allowance to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within Tenant within thirty (30) days after the later to occur of following events have occurred: (i) Tenant’s delivery to Tenant shall have provided Landlord with paid invoices and other evidence of an invoice from such costs as Landlord shall reasonably require, (ii) Tenant shall have provided Landlord with appropriate affidavits, sworn statements and lien waivers, and Landlord shall have approved the Architect for services rendered in preparing a preliminary space plan for the Premisessame, and (iiiii) the mutual execution Tenant shall have faithfully complied with this Lease and delivery of this Amendment, Landlord shall deliver a check to the Architect not be in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the LeaseDefault. Any unused portion of the Improvement Allowance remaining not used for the purposes permitted herein, or for which Landlord has not received evidence of the costs thereof as of January 1, 2017provided herein within ninety (90) days after the Commencement Date, shall remain with Landlord belong to Landlord, and Tenant shall have receive no further right theretocredit therefor. If Tenant shall Default under this Lease following Landlord's payment of the Improvement Allowance, Tenant shall immediately pay Landlord the unamortized amount theretofor paid hereunder (such amortization to be computed on a straight line basis over the number of full calendar months in the initial Term hereunder following such payment with interest at the Default Rate).

Appears in 1 contract

Samples: Maxtor Corp

Improvement Allowance. Tenant shall be entitled to a onean allowance for the design and construction of improvements in the Premises (the “Improvements”) in an amount equal to Ten Thousand Eight Hundred Seventy-time improvement allowance Five and No/100 Dollars ($10,875.00) (i.e. $2.50 per rentable square foot of the Premises) (the “Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 ), which Improvement Allowance may be utilized by Tenant for the costs relating to the initial design and construction of the improvements which are permanently affixed to Suite 700 (the “Improvements”)Improvements at any time through and including March 31, In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease2006. Any unused portion of the Improvement Allowance remaining which has not been spent as of January April 1, 2017, 2006 shall remain with revert to Landlord and Tenant shall have no further right rights thereto. Any costs incurred by Tenant in connection with Tenant’s construction of the Improvements which are in excess of the Improvement Allowance shall be paid for by Tenant. The Improvement Allowance shall be disbursed by Landlord pursuant to Landlord’s reasonable disbursement process (which shall include, without limitation, the requirement that Tenant provide invoices and mechanics’ lien releases acceptable to Landlord) for costs related to the construction of the Improvements. Tenant shall not be charged a supervision fee in connection with Tenant’s construction of the Improvements; provided, however, that Tenant shall reimburse Landlord within thirty (30) days of Tenant’s receipt of an invoice for any out-of-pocket costs actually incurred by Landlord in connection with Tenant’s construction of the Improvements.

Appears in 1 contract

Samples: Office Lease (Sirna Therapeutics Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 for the costs relating to the initial design purchase and construction installation of the improvements which are permanently affixed to Suite 700 the Premises (the "Improvements”), In addition, Landlord shall contribute ") in the amount of up to an amount equal to $0.15 18,360.00 (i.e., $6.00 per rentable square foot of Suite 700 the Premises multiplied by 3,060 rentable square feet) (the “Test-Fit EXHIBIT B Contribution”) toward "Improvement Allowance"). The construction and installation of the cost of one preliminary “test-fit” space plan to Improvements shall be prepared by made in accordance with the “Architect,” as that term is defined in Section 3.1 terms of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the PremisesArticle 8, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Alterations for all purposes hereunder. The Improvement Allowance shall be disbursed by Landlord pursuant to Landlord’s property under 's disbursement process for costs related to the terms construction of the LeaseImprovements, including items (i) through (vii), inclusive, of Section 8.3, above. Any unused portion Landlord and Tenant hereby agree that, pursuant to item (vi) of Section 8.3, above, Landlord shall be entitled to a construction supervision and management fee in connection with construction of the Improvements in an amount equal to the product of (A) five percent (5%) and (B) an amount equal to the aggregate of all costs related to the construction of the Improvements. All costs related to the construction of the Improvements in excess of the Improvement Allowance remaining (as the same may be reduced by the application of January the same as a credit against Base Rent in accordance with the foregoing sentence) shall be paid by Tenant in accordance with Section 8.3, above. In the event that Improvement Allowance is not fully utilized by Tenant within one (1) year following the Lease Commencement Date (either to pay for costs related to the construction of the Improvements or as a credit against Base Rent), 2017, then such unused amounts shall remain with revert to Landlord and Tenant shall have no further right rights with respect thereto.

Appears in 1 contract

Samples: Office Lease (Corgentech Inc)

Improvement Allowance. Tenant Landlord shall be entitled to a one-time reimburse Tenant, as an improvement allowance as follows: (i) the amount actually expended for costs for Tenant’s Work on the first floor, not to exceed One Hundred Thousand ($100,000.00) Dollars (“First Floor Allowance”); (ii) the amount actually expended for costs for Tenant’s Work on the second floor, not to exceed Twenty Five Thousand ($25,000.00) Dollars; and (iii) the amount actually expended for costs for Xxxxxx’s Work made on the third floor, not to exceed Twenty Five Thousand ($25,000.00) Dollars (the “Improvement Allowance”). The Improvement Allowance with respect to the first floor shall be paid pursuant to the Draw Schedule attached hereto as Exhibit 6 and in accordance with standard construction loan disbursement requirements utilized by an institutional lender doing business in Palm Beach County, Florida, including Landlord’s receipt of the following, each in form and substance satisfactory to Landlord: (i) a timely request for an advance, together with all required supporting documentation; (ii) Landlord obtaining a title search through the date of the advance and insuring that, except as previously approved by Landlord in writing, there has been no change in the amount status of $65.00 per rentable square foot of Suite 700 for the costs relating title to the initial design Leased Premises; (iii) a satisfactory inspection by Landlord verifying that Tenant’s Work for which the advance is requested has been completed in accordance with the Approved Plans; and construction (iv) such other documents, instruments, information, agreements and certificates as Landlord may reasonably require, including the documents listed below. The Improvement Allowance with respect to the first floor shall be paid within ten (10) days after receipt of items (i) – (iv). Landlord shall retain ten percent (10%) of the improvements which are permanently affixed First Floor Allowance until the final draw and receipt of all of the information and documents set forth in the following paragraph. Except as provided above, the Improvement Allowance with respect to Suite 700 the second and third floor shall be paid pursuant to the Draw Schedule attached hereto as Exhibit 6 and within ten (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (3010) days after the later to occur of of: (i) completion of Tenant’s delivery to Landlord of an invoice from Work on the Architect for services rendered in preparing a preliminary space plan for the Premises, particular floor; and (ii) Tenant’s furnishing the mutual execution and delivery of this Amendment, Landlord shall deliver a check following to the Architect in the lesser amount of Landlord: (a) an invoice with paid receipts evidencing payment of not less than the amount set forth in such invoice from the Architect, applicable Draw; and (b) the amount of the Test-Fit Contribution. In lien releases from all such contractors, subcontractors, suppliers and materialmen that performed Tenant’s Work so that no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Improvements shall be deemed Landlordmechanic’s property lien can exist under the terms of the Lease. Any unused portion of the Improvement Allowance remaining as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right theretoApplicable Laws.

Appears in 1 contract

Samples: Commercial Lease (ETHEMA HEALTH Corp)

Improvement Allowance. Provided that Tenant is not then in default under the Lease beyond the expiration of any applicable notice and grace periods, Landlord shall provide Tenant with an improvement allowance of Sixty Five Thousand and 00/100 Dollars ($65,000.00) (the "Improvement Allowance"), for actual, verifiable, out-of-pocket Construction Costs (as hereinafter defined) incurred by Tenant for the Tenant Improvements. At least Thirty Thousand and 00/100 Dollars ($30,000.00) of the Improvement Allowance must be used for the Mechanical Expenses (the “HVAC Portion of the Allowance”). The "Construction Costs" shall be deemed to mean and include only the following costs incurred by Tenant in completion of the Tenant Improvements: (1) all hard costs and expenses pertaining to the completion of the Tenant Improvements, including, but not limited to, parts and supplies, mechanical units, and costs charged by suppliers, contractors, subcontractors and other parties for materials and labor, (2) architectural and engineering fees, and (3) costs of permits, licenses and other governmental approvals required for the performance of the Tenant Improvements. The HVAC Portion of the Allowance shall be paid by Landlord to Tenant within fourteen (14) days after Landlord’s receipt and approval of applicable purchase orders for the Mechanical Expenses. The balance of the Improvement Allowance shall be paid by Landlord to Tenant within fourteen (14) days after Landlord’s receipt and approval of the applicable purchase orders therefor. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of $65.00 per rentable square foot of Suite 700 solely and exclusively responsible for the costs relating to the initial design and construction of the improvements all Construction Costs which are permanently affixed to Suite 700 (the “Improvements”), In addition, Landlord shall contribute up to an amount equal to $0.15 per rentable square foot of Suite 700 (the “Test-Fit EXHIBIT B Contribution”) toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) exceed the amount of the Test-Fit Contribution. In no event shall Landlord be obligated to make disbursements pursuant to this Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-Allowance Amount,” as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Improvement Allowance and any costs of completing the Test-Fit Contribution. Notwithstanding the foregoing or any contrary provision of the Lease, all Tenant Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused portion of the Improvement Allowance remaining that do not qualify as of January 1, 2017, shall remain with Landlord and Tenant shall have no further right theretoConstruction Costs.

Appears in 1 contract

Samples: Lease (Active Power Inc)

Improvement Allowance. Tenant shall be entitled to a one-time improvement allowance (the “Improvement Allowance”) in the amount of $65.00 13,227,600.00 (based on $150.00 per rentable square foot of Suite 700 the Premises) for the costs relating to the initial design and construction of Tenant’s improvements which are permanently affixed to the Premises or exclusively serving the Premises) (the “Improvements”) and for the other Improvement Allowance Items described EXHIBIT “D” in Section 2.2 below. In addition to the Improvement Allowance and subject to the terms and conditions of Section 1.2 above, Tenant shall be entitled to a one-time additional base building allowance (the “Base Building Allowance”) in the amount of $1,000,000.00 for the costs relating to the initial design and construction of the improvements which are permanently affixed Base Building Improvements and for the other Improvement Allowance Items described in Section 2.2 below and it being agreed that any unused portion of the Base Building Allowance may be applied to Suite 700 (the Improvement Allowance Items otherwise relating to the Tenant’s Improvements and the costs incurred by Tenant for exterior work, structural frames and/or footings, or other base building work performed by Tenant as part of the Improvements”), . In addition, Landlord no event shall contribute up to an amount equal to $0.15 per rentable square foot the Base Building Allowance be utilized toward the costs of Suite 700 (Improvements except as provided above and in no event shall the “Test-Fit EXHIBIT B Contribution”) Improvement Allowance be used toward the cost of one preliminary “test-fit” space plan to be prepared by the “Architect,” as that term is defined in Section 3.1 of this Work Letter. Within thirty (30) days after the later to occur of (i) Tenant’s delivery to Landlord of an invoice from the Architect for services rendered in preparing a preliminary space plan for the Premises, and (ii) the mutual execution and delivery of this Amendment, Landlord shall deliver a check to the Architect in the lesser amount of (a) the amount set forth in such invoice from the Architect, and (b) the amount construction of the Test-Fit ContributionBase Building Improvements; provided, however, both the Base Building Allowance and Improvement Allowance may be used toward the costs of the Improvement Allowance Items. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in the event that Tenant fails to promptly pay any portion of the “Over-(including for Improvement Allowance Amount,” as defined Items described in Section 4.2.1, nor shall Landlord be obligated to pay 2.2. below) in a total amount which exceeds the Improvement Allowance, the Base Building Allowance and the Test-Test Fit ContributionAllowance. Notwithstanding the foregoing or Further, in no event shall Tenant be entitled to any contrary provision of the Lease, all Improvements shall be deemed Landlord’s property under the terms of the Lease. Any unused credit for any portion of the Improvement Allowance remaining and/or the Base Building Allowance not used or requested by Tenant by the date that is eighteen (18) months after the latest to occur of (i) the Pod 4 Portion Commencement Date or (ii) Pod 5 Commencement Date, as the case may be. In addition to the Improvement Allowance and Base Building Allowance, Landlord hereby agrees to reimburse Architect to prepare a “test fit” plan for the Premises and one (1) revision thereto, up to $8,818.40 (based upon $0.10 per rentable square foot of January 1, 2017, shall remain with Landlord and Tenant shall have no further right theretothe Premises) (the “Test Fit Allowance”).

Appears in 1 contract

Samples: Lease Agreement (Oncorus, Inc.)

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