Improvement Costs. Landlord shall reimburse Tenant for the Improvement Costs (as hereinafter defined) incurred in constructing the Tenant Improvements, up to an amount equal to Three Million Three Hundred Forty-Two Thousand Sixty-Six and 75/100 Dollars ($3,342,066.75) (the “Tenant Allowance”), as follows:
(a) Landlord shall pay the Tenant Allowance, less a holdback (the “Holdback”) equal to ten percent (10%), to Tenant upon Tenant’s request (which request shall be made no more than once per any thirty (30) day period), within ten (10) business days after Landlord’s receipt of the following:
(i) copies of paid invoices covering all Tenant Improvements for which payment is being requested, together with reasonable evidence that the Tenant Improvements for which payment is being requested have been completed (e.g., a certificate from Tenant’s architect); and
(ii) Partial lien waivers for the portion of the Tenant Improvements for which payment is requested from Tenant’s general contractor for all subcontractors and all material suppliers having performed any work at the Leased Premises relating to the construction of the portion of the Tenant Improvements for which payment is requested, provided that lien waivers shall not be required for any subcontractors or material suppliers who provided less than Ten Thousand and No/100 Dollars ($10,000.00) worth of goods or services in connection with the Tenant Improvements.
(b) Notwithstanding anything contained in subsection (a) above, Tenant shall not be entitled to any payments from the Tenant Allowance unless and until (i) Tenant has delivered to Landlord a copy of Tenant’s building permit; and (ii) Tenant has received Landlord’s written approval of the CDs.
(c) Landlord shall pay the Holdback to Tenant upon substantial completion of the Tenant Improvements.
(d) Landlord shall be entitled to a construction management fee in an amount equal to two percent (2%) of the Improvement Costs, but in no event more than One Hundred Thousand and No/100 Dollars ($100,000.00) (the “Fee”). At Landlord’s option, the Fee shall either be (A) applied against the Tenant Allowance, or (B) billed to Tenant (in which case Tenant shall pay the Fee to Landlord within ten (10) days following Landlord’s delivery of an invoice to Tenant).
(e) For purposes of this Lease, the term “Improvement Costs” shall mean the cost of the CDs and the cost to construct and install the Tenant Improvements. Tenant shall be responsible for all Improvement Costs in excess of th...
Improvement Costs. Only Improvement Costs of the types set forth in Exhibit 3 are deemed to be validly incurred Improvement Costs for purposes of this Agreement. Tenant must provide the Commissioner with a statement certified by Tenant, setting forth the aggregate amount of the Improvement Costs expended by Tenant for each Leased Space, with such detail as may be reasonably requested by the Commissioner. The certified statement must be submitted at the same time as the “as-built” drawings for the Leased Space. Tenant must make available to the Commissioner, at the Commissioner's request, receipted invoices for labor and materials covering all Improvement Costs. The Commissioner has the right to audit the Improvement Costs. If there is a discrepancy of 5% or more, the cost of the audit must be paid promptly by Tenant upon request. If the Tenant's actual Improvement Costs for any portion of the Leased Space are less than 95% of the amount set forth in Exhibit 3 for said portion of the Leased Space, Tenant must, within 30 days after the date of completion of the Work or the Date of Beneficial Occupancy, whichever is earlier, pay the City the difference between 95% of the amount set forth in Exhibit 3 and the actual Improvement Cost for said portion of the Leased Space.
Improvement Costs. Lessee shall be responsible for the full and timely payment of all Improvement Costs, subject to Lessor’s disbursement of Lessor’s Contribution as provided in this Work Agreement. Lessor shall make disbursements from Lessor’s Contribution as invoices are rendered to Lessor, provided that Lessor has received partial or final (as applicable) lien waivers and such other documentation as Lessor may reasonably require from the party requesting such payment. Lessor shall have the right to deduct Lessor’s Fee from Lessor’s Contribution as and when Lessor makes disbursements from Lessor’s Contribution. Lessee agrees that Lessor’s Contribution must be applied relatively proportionately towards the payment of Improvements Costs for the entire Demised Premises.
Improvement Costs. The term "Improvement Costs" shall mean for ----------------- the Interior Improvements (to the extent applicable) the following "Included Costs", but not the following "Excluded Costs":
Improvement Costs. County shall use good faith efforts to cause Non-Participating Property Owners to fund their fair share reimbursement of the costs of any improvements advanced or constructed by Developer through the Non- Participating Property Owners’ participation in the PVSP Fee Program and any other applicable Project Impact Fee program adopted to finance such improvement costs. In particular, and without limitation thereof, the County shall use good faith efforts to include, as a condition of development and any development agreement for a Non- Participating Property Owner’s property, to require the Non-Participating Property Owner to participate in and support the PVSP Fee Program and all other Project Impact Fee programs required to be supported by Developer hereunder.
Improvement Costs. Tenant shall be responsible for the full and timely payment of all Improvement Costs, Tenant’s Equipment Costs and Relocation Costs subject to Landlord’s disbursement of Landlord’s Contribution as provided in this Work Agreement. Landlord shall make disbursements from Landlord’s Contribution as invoices are rendered to Landlord, provided that Landlord has received partial or final (as applicable) lien waivers and such other documentation as Landlord may reasonably require from the party requesting such payment. Landlord shall have the right to deduct Landlord’s Fee from Landlord’s Contribution as and when Landlord makes disbursements from Landlord’s Contribution. Tenant agrees that, except to the extent expended on Tenant’s Equipment Costs and Relocation Costs, Landlord’s Contribution must be applied relatively proportionately towards the payment of Improvements Costs for the entire Premises.
Improvement Costs. All of the costs, expenses, and applicable fees ----------------- to be incurred in connection with the design and construction of the Tenant Improvements ("Improvement Costs") shall be advanced by Landlord. Landlord shall advance funds for the Improvements Costs up to One Million Four Hundred Ten Thousand Seven Hundred Sixty Dollars ($1,410,760) as the "Improvement Allowance". Any Improvements Costs incurred by Landlord in excess of the Improvement Allowance (but only to the extent such excess does not exceed Three Hundred Fifty-two Thousand Six Hundred Ninety Dollars ($352,690) (the "Additional Allowance") shall be amortized over the initial Lease Term (together with interest thereon at the rate of eleven percent (11%) per annum) and shall be payable by Tenant, as Additional Rent under this Lease, in equal monthly installments over the initial Lease Term with each payment of monthly Base Rent payable by Tenant under this Lease. Any Improvement Costs incurred by Landlord in connection with the 3 Tenant Improvements in excess of the Improvement Allowance and the Additional Allowance shall be paid for by Tenant, which payment shall be due and payable within ten (10) days following written demand therefor by Landlord.
Improvement Costs. At Closing, Buyer shall have (i) paid to Seller an amount equal to Seller's actual and reasonable engineering, architectural and consulting fees and expenses incurred in connection with presently ongoing improvement projects for the Oregon Trail and Hermiston Shopping Centers and (ii) assumed all of Seller's obligations under the construction contracts for such improvement projects.
Improvement Costs. All infrastructure (development) improvement costs of the Public Infrastructure Improvements are the full responsibility of the Developer unless otherwise noted, or unless otherwise funded with a public improvement district revenue, tax increment reinvestments zone revenue, or a Chapter 380 grant, pursuant to a separate agreement. The following improvement costs for the Public Infrastructure Improvements have been developed using the Developer’s plans and specifications and recommendations by the City in accordance with the construction guidelines set forth by the City:
Improvement Costs. Only Improvement Costs of the types set forth in the budget in the Development Plan are deemed to be validly incurred Improvement Costs for purposes of this Agreement. Airport Network must provide the Commissioner with a statement certified by Airport Network, setting forth the aggregate amount of the Improvement Costs expended by Airport Network for each phase, with such detail as may be reasonably requested by the Commissioner. The certified statement must be submitted at the same time as any “as-built” drawings depicting installments of new Service Equipment. Airport Network must make available to the Commissioner, at the Commissioner's request, receipted invoices for labor and materials covering all Improvement Costs. The Commissioner has the right to audit the Improvement Costs. If there is a discrepancy of 5% or more, the cost of the audit must be paid promptly by Airport Network upon request. If the Airport Network's actual Improvement Costs for any phase of the Improvements are less than 95% of the amount set forth in the Development Plan for said phase, Airport Network must, within 30 days after the date of completion of the Work, pay the City the difference between 95% of the amount set forth in the Development Plan and the actual Improvement Cost for said phase. The actual Improvement Costs, as approved by the Commissioner, will be memorialized in the confirmation of DBO and attached to Exhibit 1.
