Common use of Improvements to Premises Clause in Contracts

Improvements to Premises. Lessee shall take the Premises in its "as-is" condition for the Extended Term except for certain Leasehold Improvements (herein so called) to the Premises which shall be completed in accordance with the specifications attached hereto as Exhibit A (the "Approved Plans"), which have been approved by both Lessor and Lessee. Lessor shall cause the Leasehold Improvements to be installed or constructed in accordance with the Approved Plans by Lessor's contractor. So long as no Event of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00) (the "Improvement Allowance"), which allowance is to be used solely for completion of the Leasehold Improvements in accordance with the Approved Plans, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premises. In the event that any alterations or modifications to the Premises are required in order to comply with applicable law, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements and the space planning and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the Lease.

Appears in 2 contracts

Samples: Lease Agreement (Sport Supply Group Inc), Lease Agreement (Sport Supply Group Inc)

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Improvements to Premises. Lessee Tenant acknowledges that Tenant has been in occupancy of the Premises for several years and that it has inspected and is familiar with the Premises. Accordingly, Tenant shall take the Premises for the Second Extended Term in its "as“AS-is" IS” “WHERE IS” AND “WITH ALL FAULTS” condition for as of the Second Extended Term Commencement Date, except for that Landlord agrees to complete certain Leasehold Improvements (herein so called) improvements to the Premises which shall be completed in accordance with pursuant to this Section 3. Tenant agrees to submit to Landlord, for Landlord’s written approval, detailed plans and specifications for Tenant’s proposed improvements to the specifications attached hereto as Exhibit A Premises (the "Approved Plans"), which have been improvements approved by both Lessor and LesseeLandlord in writing are collectively referred to herein as the “Leasehold Improvements”). Lessor Landlord shall cause complete the Leasehold Improvements by hiring a contractor (selected from a competitive bidding process involving not less than three (3) general contractors mutually acceptable to be installed Landlord and Tenant) to install or constructed in accordance with construct the Approved Plans by Lessor's contractorLeasehold Improvements. So long as no Event Provided Tenant has not received from Landlord written notice of Default Tenant’s default of the terms of the Lease (or event which with notice or lapse of time could become an Event of Default) unless such default has occurred under the Leasebeen cured), Lessor Landlord agrees to provide Lessee Tenant an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ONE HUNDED MISETY FIVE THOUSAND THREE HUNDRED FIFTY TWO AND NOf100 DOLLARS ($153,119.00195,352.00) (the "Improvement “TI Allowance"), which allowance TI Allowance is to be used solely for completion to pay the costs of the Leasehold Improvements. The costs of the Leasehold Improvements in accordance with the Approved Plansshall include, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance")without limitation, which allowance is to be used solely for space all costs of designing, planning and design services for constructing the Premises. In the event that any alterations or modifications to the Premises are required in order to comply with applicable lawLeasehold Improvements, including, without limitation, the Americans hard and soft costs, permit fees, costs of compliance with Disabilities Act of 1990federal, as amendedstate and municipal building codes, or the State of Texas equivalent laws laws, rules and regulations, ADA and Texas Department of Licensing and Regulation compliance fees, architectural and engineering fees, and a construction management fee in the cost amount of any such alterations or modifications shall be satisfied out five percent (5%) of the Improvement Allowance. The cost total costs of the Leasehold Improvements Improvements. The foregoing construction management fee shall be payabl.e forty percent (40%) to Sxxxxxxxxx Realty Group (“SRG”), as Tenant’s construction manager, and the space planning and design fees is sixty percent (60%) to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectivelyBradford Companies as Landlord’s construction manager. Any completed work (labor or materials) outside the scope of the Approved Plans Leasehold Improvements or any costs of the cost of which is Leasehold Improvements in excess of the Improvement TI Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's Tenant’s sole cost and will expense. Any costs of the Leasehold Improvements in excess of the TI Allowance shall be billed paid to Lessee Landlord by Lessor and will be due and payable Tenant upon demand within ten thirty (1030) days after Lessee's from receipt of an invoice thereforinvoice. Should Tenant fail to promptly pay to Landlord on demand any costs of the Leasehold Improvements in excess of the TI Allowance, Landlord may, at Landlord’s sole option, in addition to any other remedies available to Landlord under the Lease, at law or in equity, as a result of such default by Tenant, refuse to commence or immediately halt construction of the Leasehold Improvements until payment is received and Tenant shall bear all costs attributable to the stopping and re-starting of construction and any delay in completion thereof Notwithstanding anything to the contrary contained herein, Landlord may, upon notice to Tenant, require such changes to the Leasehold Improvements as Landlord reasonably determines to be appropriate in order to comply with the provisions of the Lease and with all applicable building and safety codes and other governmental and insurance requirements, which costs shall be paid from the TI Allowance or paid by Tenant (if in excess of the TI Allowance). Notwithstanding anything to the foregoingcontrary contained herein, Lessee will not be liable for work outside any costs incurred to cause the scope exterior of the Approved Plans or excess costs over Building to comply with the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costsaforementioned codes and requirements shall be solely at Landlord’s expense. Any portion of the Improvement Allowance or the Architectural TI Allowance remaining upon that date (the “TI Allowance Forfeiture Date”) which is the earlier to occur of (i) the completion of the Leasehold Improvements and (ii) twelve (12) months from the Second Extended Term Commencement Date shall be deemed forfeited by Lessee. Lessor further acknowledges and Tenant; provided, however, Landlord agrees that Section 4.07 to apply towards the next accruing Monthly installment(s) of Rent the Lease is hereby amended to provide that Lessee shall not be required to surrender possession lesser of (a) $.50 per square foot of the Premises to Lessor "in and (b) the same condition as when received", but rather shall be entitled to surrender possession amount of the Premises in TI Allowance remaining on the same condition as exists upon the TI Allowance Forfeiture Date. Upon Landlord’s substantial completion of the Leasehold Improvements described (as determined by Landlord’s construction manager acting reasonably), Landlord and Tenant shall inspect the Leasehold Improvements, and Landlord and Tenant shall specify in Paragraph 3 abovewriting the Punch-List Items (herein so called) which remain to be performed and/or corrected by Landlord. The completion of the inspection shall be deemed conclusive evidence, as against Tenant, that (i) Tenant has inspected the Leasehold Improvements (and has sufficient knowledge and expertise to make such inspection or has caused the Leasehold Improvements to be inspected on its behalf by one or more persons with such knowledge and expertise), (ii) Tenant accepts the Leasehold Improvements in their “AS-IS”, “WHERE IS” AND “WiTH ALL FAULTS” condition as of the date of such inspection (subject to any and all other requirements set forth in Section 4.07 Landlord’s completion of the LeasePunch-List Items), and (iii) that the Leasehold improvements comply fully with Landlord’s covenants and obligations under this Amendment with respect to the construction of the Leasehold Improvements by Landlord (subject to the completion of the Punch-List Items). The foregoing provisions are a material part of the consideration for this Amendment. Landlord shall have the right to enter upon the Premises at all reasonable times to complete the Leasehold Improvements and Punch-List Items, provided that Landlord makes reasonable good faith efforts to cooperate with Tenant in connection therewith. EXCEPT IN THE EVENT OF LANLORD’S NEGLIGENCE, TENANT SHALL AND DOES HEREBY RELEASE, INDEMNIFY, DEFEND AM) HOLD LANDLORD AND TUE LANDLORD ENTITIES HARMLESS FROM ALL LIABILITIES, CLAIMS, INJURIES, LOSSES AND CAUSES OF ACTION RELATING TO OR ARISING FROM LANDLORD’S CAUSING TUE CONSTRUCTION OF THE LEASEHOLD IMPROVEMENTS DURING TENANT’S OCCUPANCY OF THE PREMISES.

Appears in 1 contract

Samples: Lease (Optex Systems Holdings Inc)

Improvements to Premises. Lessee shall take Except as expressly provided in this Section 3, Tenant is in possession of the Premises and accepts the same “as is” without any agreements, representations, understandings or obligations on the part of Landlord to perform any alterations, repairs or improvements. Tenant acknowledges that Landlord has fully performed and discharged all of its obligations with respect to the tenant improvements and the improvement allowances set forth in its "as-is" condition for the Extended Term except for certain Leasehold Improvements (herein so called) Construction Addendum to the Lease. Landlord shall perform further improvements to the Premises which shall be completed in accordance with the specifications Work Letter attached hereto as Exhibit A (A, and in such event, Tenant shall be entitled to an improvement allowance in connection with such work as more fully described in Exhibit A. Notwithstanding the "Approved Plans")foregoing, which have been approved by both Lessor and Lessee. Lessor shall cause if Tenant so elects, Tenant may perform improvements to the Leasehold Improvements to be installed or constructed Premises in accordance with the Approved Plans by Lessor's contractor. So long Tenant Work Letter attached hereto as no Event Exhibit B in lieu of Default (or event which with notice or lapse Landlord’s performance of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00) (the "Improvement Allowance"), which allowance is to be used solely for completion of the Leasehold Improvements in accordance with the Approved Planssuch work, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance")in such event, which allowance is to be used solely for space planning and design services for the Premises. In the event that any alterations or modifications to the Premises are required in order to comply with applicable law, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements and the space planning and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather Tenant shall be entitled to surrender possession of the Premises an improvement allowance in the same condition connection with such work as exists upon the completion of the Leasehold Improvements more fully described in Paragraph 3 above, subject Exhibit B. Tenant shall notify Landlord in writing as to any and all other requirements whether Tenant elects to perform the Tenant Alterations (as set forth in Section 4.07 Exhibit B) or whether Tenant desires that Landlord perform the Landlord Work (as set forth in Exhibit A) (“Tenant’s Alteration Notice”) not later than December 1, 2004. If Tenant elects to perform the Tenant Alterations pursuant to Exhibit B or if fails to deliver the Tenant’s Alteration Notice to Landlord prior to 5:00 pm on December 1, 2004, Tenant shall be deemed to have elected to perform the Tenant Alterations pursuant to Exhibit B and Exhibit A hereto shall void and of no further force and effect. If Tenant elects to have Landlord perform the Landlord Work pursuant to this Section, Exhibit B hereto shall be void and of no further force and effect. Notwithstanding anything to the contrary set forth in the Lease, in the event that the performance of the Landlord Work or the Tenant Alterations, as applicable, results in an increase in the real property taxes or assessment payable with respect to the Building, Tenant shall be solely responsible for such increase in taxes (but only as to the portion of such increase arising solely out of the Landlord Work or the Tenant Alterations, as applicable) and such amount shall constitute additional rent pursuant to the Lease.

Appears in 1 contract

Samples: Lease Agreement (Autodesk Inc)

Improvements to Premises. Lessee shall take Client agrees to accept the Premises in its then "as-as is" condition for as of the Extended Extension Term except for certain Leasehold Improvements (herein so called) Commencement Date; provided, however, that, effective as of the Extension Term Commencement Date, Landlord shall make available to the Premises which shall be completed in accordance with the specifications attached hereto as Exhibit A (the "Approved Plans"), which have been approved by both Lessor and Lessee. Lessor shall cause the Leasehold Improvements to be installed or constructed in accordance with the Approved Plans by Lessor's contractor. So long as no Event of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee Client an allowance equal of up to One Hundred Fifty-Three Thousand One Hundred Nineteen Ten and No/100 00/100 Dollars ($153,119.0010.00) per rentable square foot in the Premises (the "Improvement Allowance"), which allowance is to Allowance may be used solely by Client for completion the hard and soft costs of improvements to the Leasehold Improvements Premises, including furniture, fixtures, equipment, tel/data cabling and wiring and consultants ("Client's Work"). Client shall perform Client's Work in accordance with the Approved Plans, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premises. In the event that any alterations or modifications subject to the Premises are required in order to comply with applicable lawprovisions of the Lease, including, without limitation, Section 7.3 ("Alterations and Additions"). So long as Client is not in Default under the Americans with Disabilities Act of 1990Lease (as amended hereby), as amended, or Landlord shall make payments to Client from the State of Texas equivalent laws and regulations, Allowance for the cost of any improvements made to the Premises, provided that such alterations or modifications payments shall be satisfied out of not exceed, in the Improvement aggregate, the Allowance. The cost Allowance shall be available to Client upon timely submission of Client's statement ("Statement") with all required lien waivers and certificates as provided below as construction of the Leasehold Improvements improvements to the Premises progresses and Client incurs expenses toward which the space planning Allowance may be applied. Each Statement delivered by Client shall show, in reasonable detail, all costs incurred and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost accompanied by invoices of each contractor, subcontractor, supplier or vendor for which payment is sought, and will a lien waiver and a certificate, from each contractor and subcontractor whose contract has an aggregate value equal to or greater than $2,500, certifying that all payments then due such contractor or subcontractor and to laborers, materialmen and subcontractors under it have been made, except the amounts then being requisitioned. All contract documents and requisitions submitted by Client for payments from the Allowance relating to design and construction shall be billed to Lessee by Lessor and will in the then current ALA format. Disbursement shall be due and payable within ten made from the Allowance on or before thirty (1030) days after LesseeLandlord receives Client's receipt of an invoice thereforcomplete and correct Statements with all required supporting documentation. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the Client shall forfeit any amount of the Improvement Allowance for which, on or the Architectural Allowance unless Lessee before December 31, 2014, Client has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be submitted complete Statements with all required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the Leasesupporting documentation.

Appears in 1 contract

Samples: Lease (Rexahn Pharmaceuticals, Inc.)

Improvements to Premises. Lessee Lessor shall take deliver the Premises to Lessee in its "as-is" condition is condition. Lessor has agreed to Lessee’s completion in the Premises of those leasehold improvements described in Exhibit A hereto (the “Improvements”). All work with respect to the Improvements shall (a) be performed substantially as described in Exhibit A; (b) be performed in such a manner as to maintain harmonious labor relations and not to interfere with or delay any other work and activities being carried on by Lessor, any of Lessor’s contractors, and other tenants; (c) be designed, performed, and completed in strict compliance with the Lease and with all building standards and regulations established by Lessor; (d) be completed by contractors and subcontractors approved by Lessor; (e) be coordinated by all contractors and subcontractors engaged by Lessee so as to insure timely completion thereof; (f) be coordinated with Lessor with respect to the movement of equipment and materials; (g) not adversely affect the structure or safety of the Building; (h) comply with all building, safety, fire, plumbing, electrical, and other codes and governmental and insurance requirements; (i) not result in any usage in excess of services provided by Lessor under the Lease for the Extended Term except for certain Leasehold Improvements Premises, including water, electricity, gas, heating, ventilating, and air conditioning (herein so calledeither during or after such work), unless prior written arrangements satisfactory to Lessor are made with respect thereto; and (j) to the Premises which shall be completed promptly and in accordance with the specifications attached hereto as Exhibit A (the "Approved Plans"), which have been approved by both Lessor a good and Lessee. Lessor shall cause the Leasehold Improvements to be installed or constructed in accordance with the Approved Plans by Lessor's contractorworkmanlike manner. So long as no Event of Default (or event which with notice or and/or lapse of time could become an Event of Default) has occurred under the LeaseLease has occurred, Lessor agrees Lessee shall be entitled to provide Lessee an a cash allowance equal to One Hundred Fifty-Three in the amount of Seventy Thousand One Hundred Nineteen and No/100 Dollars ($153,119.0070,000,00) (the "Improvement Allowance")”) toward the construction of the Improvements in the Premises, which allowance is shall be payable to be used solely for completion Lessee within thirty (30) days after receipt by Lessor of (a) original invoices of the Leasehold Improvements in accordance general contractor aggregating at least the amount requested, and (b) original final lien waivers and/or original releases of liens from the general contractor and all subcontractors associated with the Approved Plans, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premises. In the event that any alterations or modifications to the Premises are required in order to comply with applicable law, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulationsImprovements who perform work, the cost of any such alterations or modifications shall be satisfied out of which exceeds $2,500.00 (collectively, the Improvement Allowance. The cost of the Leasehold Improvements “Construction Documentation”), Lessee acknowledges and the space planning and design fees is agrees that Lessor has conditioned its agreement to be paid by Lessor out of fund the Improvement Allowance on the payment thereof on or before December 31, 2006. Therefore, all Construction Documentation must be delivered to Lessor on or before November 30, 2006, and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion after payment of the Leasehold Improvements shall amount supported by such Construction Documentation will be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the Lease.

Appears in 1 contract

Samples: Lease Agreement (Collegiate Pacific Inc)

Improvements to Premises. Lessee shall take the Premises in its "as-is" condition for the Extended Term except for certain Leasehold Improvements (herein so called) to the Premises which shall be completed in accordance with the specifications attached hereto as Exhibit A (the "Approved Plans"), which have been approved by both Lessor and Lessee. Lessor shall cause the Leasehold Improvements to be installed or constructed in accordance with the Approved Plans by Lessor's ’s contractor. So long as no Event of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00) (the "Improvement Allowance"), which allowance is to be used solely for completion of the Leasehold Improvements in accordance with the Approved Plans, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premises. In the event that any alterations or modifications to the Premises are required in order to comply with applicable law, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements and the space planning and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's ’s sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's ’s receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the Lease.

Appears in 1 contract

Samples: Lease Agreement (Collegiate Pacific Inc)

Improvements to Premises. Lessee Landlord shall take the Premises in its "as-is" condition for the Extended Term except for certain Leasehold Improvements (herein so called) have no obligation to make any improvements, alterations or repairs to the Premises which and Tenant shall accept same "as is". Landlord shall provide a construction allowance in the amount of Forty-Seven Thousand Four Hundred Forty-Eight Dollars ($47,448.00)(the "Construction Allowance") to be used by Tenant in making alterations to the Premises and/or to Tenant's other premises in the Building (including, but not limited to, at Tenant's option, painting, recarpeting, etc.). All such alterations shall be completed subject to Paragraph 7 of the Lease and to Tenant obtaining Landlord's consent thereto in accordance with such Paragraph 7. Subject to the specifications attached hereto as Exhibit A (preceding sentence, Tenant shall have the "Approved Plans")right to install an interior stairway between the Premises and Tenant's first floor premises and to construct an entrance to its lower level premises from the lower level elevator lobby; provided, which have been approved by both Lessor and Lessee. Lessor shall cause however, that upon the Leasehold Improvements to be installed expiration or constructed in accordance with the Approved Plans by Lessor's contractor. So long as no Event earlier termination of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees Landlord shall have the right, at Landlord's option, to provide Lessee an allowance equal restore all or any part of such areas to One Hundred Fifty-Three Thousand One Hundred Nineteen their prior condition (or, at Landlord's option, to direct Tenant to perform such restoration) and, in such event, Tenant shall be solely responsible for all costs and No/100 Dollars expenses in connection therewith ($153,119.00including a ten percent (10%) (the "Improvement Allowance"), which allowance is construction management fee to be used solely for completion of the Leasehold Improvements Landlord in accordance with the Approved Plans, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premises. In the event Landlord performs such work). Landlord shall advance the Construction Allowance to Tenant against contractor invoices, provided, however, that any alterations or modifications to the Premises are required in order to comply with applicable law, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements and the space planning and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee Landlord shall not be required to surrender possession advance any of such Allowance at any time that an Event of Default exists hereunder. Landlord shall, if requested by Tenaxx, xxrform the alterations desired to be performed by Tenaxx (xxd consented to by Landlord) for a construction management fee equal to ten percent (10%) of the Premises to Lessor "actual costs incurred in the same condition as when received"connection with such work (including, but rather shall be entitled to surrender possession not limited to, all costs, fees and expenses of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to general contractor and any and all other requirements set forth in Section 4.07 of the Leasesubcontractors).

Appears in 1 contract

Samples: Agreement of Lease (Mason George Bankshares Inc)

Improvements to Premises. Lessee shall take the Premises in its "as-is" condition for the Extended Term except for certain Leasehold Improvements (herein so called) improvements to the Premises parking area, landscaped beds and driveways (collectively, the “Leasehold Improvements”) which shall be completed in accordance with the terms of this Paragraph 3. Within thirty (30) days following the date hereof, Lessor agrees to submit plans and specifications attached hereto as Exhibit A (the "Approved Plans"), which have been approved by both Lessor and Lessee. Lessor shall cause for the Leasehold Improvements to Lessee for written approval. Lessee shall advise Lessor, no later than seven (7) business days after receipt of such plans and specifications, of its approval of such plans and specifications or, if applicable, of any matters which are unsatisfactory or require change. Lessor and Lessee shall proceed in good faith to resolve any dispute which may arise between the parties as to the plans and specifications. The approved plans and specifications, including all changes required by Lessor, shall be installed referred to herein as the “Approved Plans”. Lessee shall complete the Leasehold Improvements by hiring a contractor to install or constructed construct the Improvements. Lessor will charge a construction management fee (the “Construction Management Fee”) equal to three percent (3%) of the total cost incurred by Lessor and Lessee in completing the Leasehold Improvements, including the cost for preparation of plans and specifications for the Leasehold Improvements. All work with respect to the Leasehold Improvements shall (a) be performed substantially in accordance with the Approved Plans Plans; (b) be performed in such a manner as to maintain harmonious labor relations and not to interfere with or delay any other work and activities being carried on by Lessor or Lessor’s contractors; (c) be designed, performed, and completed in strict compliance with the Lease and with all building standards and regulations established by Lessor's contractor; (d) be completed by contractors and subcontractors reasonably approved by Lessor; (e) be coordinated by all contractors and subcontractors engaged by Lessee so as to insure timely completion thereof; (f) be coordinated with Lessor with respect to the movement of equipment and materials; (g) not adversely affect the structure or safety of the building; (h) comply with all building, safety, fire, plumbing, electrical, and other codes and governmental and insurance requirements; (i) not result in any usage in excess of services provided by Lessor under the Lease for the Premises, including water, electricity, gas, heating, ventilating, and air conditioning (either during or after such work), unless prior written arrangements satisfactory to Lessor are made with respect thereto; and (J) be completed promptly and in a good and workmanlike manner. Any warranties issued in connection with the Leasehold Improvements shall be issued in the name of Lessor. So long as no Event of Default (as defined in the Lease) (or any event which with notice or and/or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee make available an allowance amount equal to One Hundred Fifty-Three Fifty Thousand One Hundred Nineteen and No/100 00/100 Dollars ($153,119.0050,000,00) (the "Improvement Allowance"), which allowance is ”) to be used solely for completion of the Leasehold Improvements in accordance with Improvements, the Approved Planssatisfaction of any architectural and design fees (including fees for the preparation of the plans and specifications obtained by Lessor), and an additional allowance equal to Three Thousand Two Hundred the payment of the construction Management Fee. Upon completion of the Leasehold Improvements, and No/100 Dollars within thirty ($3,200.0030) (the "Architectural Allowance")days after Lessee’s request, which allowance is to be used solely for space planning and design services for the Premises. In the event that any alterations or modifications to the Premises are required in order to comply with applicable lawLessor shall reimburse Lessee, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of from the Improvement Allowance. The cost , the portion thereof requested by Lessee, provided that Lessee’s request is accompanied by (a) invoices of the general contractor aggregating at least the amount requested, and (b) a final lien waiver and/or release of lien from the general contractor associated with the Leasehold Improvements (collectively, the “Construction Documentation”); and provided further, however, Lessee’s reimbursement shall be no greater than the space planning and design fees is to be paid by Lessor out remaining amount of the Improvement Allowance after satisfaction of all architectural and design fees and payment of the Architectural Allowance, respectivelyConstruction Management Fee. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the portion of the Improvement Allowance or the Architectural Allowance, as the case may be, allowance available for Lessee’s use shall be at Lessee's ’s sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costsexpense. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the Lease.

Appears in 1 contract

Samples: Lease Agreement (Collegiate Pacific Inc)

Improvements to Premises. A. Prior to making or constructing any Improvements on the Premises, Lessee shall take the Premises in its "as-is" condition for the Extended Term except for certain Leasehold Improvements (herein so called) must submit general drawings and information to the Premises which shall be completed in accordance with Aviation Director sufficient to show the specifications attached hereto as Exhibit A (the "Approved Plans")dimensions, which have been approved by both Lessor and Lessee. Lessor shall cause the Leasehold Improvements to be installed or constructed in accordance with the Approved Plans by Lessor's contractor. So long as no Event of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00) (the "Improvement Allowance"), which allowance is to be used solely for completion of the Leasehold Improvements in accordance with the Approved Planselevations, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premises. In the event that any alterations or modifications to the Premises are required in order to comply with applicable law, including, without limitation, the Americans with Disabilities Act layout of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements and the space planning and design fees is construction materials to be paid used. The Lessee may not receive City permits for the construction of any Improvements unless and until the Lessee's general drawings and information are approved by Lessor out the Aviation Director in writing, such approval not to be unreasonably withheld, conditioned or delayed. If the Aviation Director refuses to approve Lessee's general drawings and information for the Improvements within six months following the Effective Date of this Lease or within 30 days of the Improvement Allowance date the general drawings and information for the Architectural AllowanceImprovements are submitted to the Aviation Director for approval, respectivelythe Lessee may terminate this Lease by giving written notice to the City. B. Lessee will comply in all material respects with all of the City's ordinances applicable to the construction of Improvements, including the requirement to apply for permits, pay permit fees, receive permits, and construct the Improvements in compliance with the City's building codes and ordinances, and Minimum Standards (including Exterior Building and Site Standards (Appendix - Section 3), the Interior Building Standards for Corporate and Business Hangars (Appendix - Section 4) and Exterior Signage and Graphic Standards (Appendix - Section 5)). Any completed work (labor or materials) outside required plans for Improvements submitted by Lessee to the scope City for the purpose of receiving construction permits must substantially conform to the general drawings and information for Improvements as approved by the Aviation Director. C. Lessee must begin construction of the Approved Plans or Initial Improvements the cost later of which is in excess i) 180 days of the Improvement Allowance Effective Date of this Lease or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10ii) 60 days after Lessee's receipt receiving all permitting documents and must complete construction of an invoice thereforthe Initial Improvements within 360 days from the start of the construction date. Notwithstanding Such completion date may be extended upon proof of a Force Majeure event. Lessee will use commercially reasonable efforts to construct the foregoingInitial Improvements in a manner as not to materially interfere with the normal operation and use of the Airport by others. The Initial Improvements will, upon completion, cost not less than $2,000,000. If requested by the Aviation Director, Lessee will not be liable for work outside file with the scope Aviation Director a complete set of as-built drawings and documents showing the actual construction costs of the Approved Plans or excess costs over the amount Initial Improvements within 30 days of completion of any Initial Improvements. If for any reason, Lessee fails to begin construction of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope Initial Improvements within one year of the Approved Plans or excess costs prior to Effective Date of this Lease, this Lease automatically terminates on the commencement day following the first anniversary date of such work or the incurring of such excess costs. Any portion this Lease. D. Lessee must begin construction of the Improvement Allowance Additional Improvements the later of i) 180 days of the Amended and Restated Date of this Lease or ii) 60 days after receiving all permitting documents and must complete construction of the Architectural Allowance remaining Additional Improvements within 360 days from the start of the construction date. Such completion date may be extended upon proof of a Force Majeure event. Lessee will use commercially reasonable efforts to construct the Additional Improvements in a manner as not to materially interfere with the normal operation and use of the Airport by others. The Additional Improvements will, upon completion, cost not less than $2,000,000. If requested by the Aviation Director, Lessee will file with the Aviation Director a complete set of as-built drawings and documents showing the actual construction costs of the Additional Improvements within 30 days of completion of the Leasehold Improvements shall be deemed forfeited by Lesseeany Additional Improvements. Lessor further acknowledges and agrees that Section 4.07 If for any reason, Lessee fails to begin construction of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession Additional Improvements within one year of the Premises Amended and Restated Date of this Lease, this Lease automatically terminates as to Lessor "in sites 4 and 7 on the same condition as when received", but rather shall be entitled to surrender possession day following the first anniversary of the Premises in the same condition as exists upon the completion Restated and Amended date of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the this Lease.

Appears in 1 contract

Samples: Standard Form Airport Corporate Hangar Land Lease (Sky Harbour Group Corp)

Improvements to Premises. Lessee (a) Sublessor shall take the Premises in its "as-is" condition provide to Sublessee a $5.00 per rentable square foot tenant improvement allowance for the Extended Term except for certain Leasehold Improvements (herein so called) to the Premises which shall be completed in accordance with the specifications attached hereto work as shown on Exhibit A B (the "Approved PlansFloor Plan"), which have been approved by both Lessor and Lessee. Lessor shall cause be credited toward rent beginning the Leasehold Improvements to be installed or constructed in accordance with the Approved Plans by Lessor's contractor. So long as no Event of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00) (the "Improvement Allowance"), which allowance is to be used solely for month following completion of the Leasehold Improvements in accordance with the Approved Plans, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premisessuch improvements. In the event that any alterations or modifications to the Premises are required in order to comply with applicable law, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications Sublessee shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements responsible for any and the space planning and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is all costs in excess of the Improvement Allowance or $5.00 per rentable square foot allowance provided by Sublessor. (b) Subject to obtaining Landlord's written consent, Sublessor consents to Sublessee's alteration of the Architectural AllowancePremises as indicated in the Floor Plan, including the hard wall changes indicated on the Floor Plan, and changing the existing wall color and carpet. The existing wood trim finish (including as to color) shall not be changed, but pieces may be removed and new pieces installed as needed to reconfigure the case may be, Premises as shown in the Floor Plan. Any new trim pieces shall match the existing trim (including as to color) as close as reasonably practical. Any and all tenant improvements shall be at Lesseecoordinated through Landlord and are subject to the provisions of Section 11 of the Master Lease. Sublessee shall provide additional plans and specifications for the alterations as required by Landlord and shall not proceed with the alterations until Landlord's sole cost written consent is obtained. (c) Subject to the provisions of Section 13 of the Master Lease relating to damage and will be billed destruction, upon expiration or sooner termination of this Lease, Sublessee shall restore the three exterior offices marked on Exhibit C (the "Restoration Offices") to Lessee by Lessor substantially the same condition as they were in when delivered to Sublessee, except that wall paint and will be due and payable within ten (10) days after Lessee's receipt carpet shall match what is then used in the rest of an invoice thereforthe private offices in the Premises. Notwithstanding the foregoing, Lessee will not Sublessor may subsequently elect to waive the requirement that the Restoration Offices be liable for work outside restored. Such election shall only be effective when and if written notice of such election is given by Sublessor to Sublessee. Unless Sublessor subsequently waives the scope restoration requirement, the provisions in Section 10(c) shall control over those of Section 22 of the Approved Plans or excess Master Lease with respect to the Restoration Offices. (d) Sublessee may deliver to Sublessor items of wood trim, doors, hardware and other such finish items for the Restoration Offices. Sublessor will store such items during the term of this Sublease at its costs over and return such items to Sublessee for use in restoring the amount Restoration Offices as required by Section 10(c). If Sublessor subsequently waives the restoration requirements in Section 10(c), Sublessor may then dispose of the Improvement Allowance or items stored under this Section 10(d), as Sublessor deems appropriate. (e) If Sublessee's net worth drops below $100,000,000 (as indicated in any publicly available financial statements) at any time during the Architectural Allowance term of this Sublease and unless Lessee Sublessee has consented waived the restoration requirements in writing to such work outside Section 10(c) of this Sublease, Sublessee shall immediately increase the scope Security Deposit under Section 6 of this Sublease by $20,000. Notwithstanding the Approved Plans or excess costs prior to the commencement provisions of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee 6, Sublessor shall not be required to surrender possession apply the increased deposit amount to the last month or months rent, and the increased amount may be held by Sublessee until the Premises are returned as provided in Section 22 of the Premises to Lessor "in the same condition Master Lease, as when received", but rather shall be entitled to surrender possession modified by Section 10(c) of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the Leasethis Sublease.

Appears in 1 contract

Samples: Sublease Agreement (Internet Capital Group Inc)

Improvements to Premises. Lessee shall take the Premises in its "as6.01. TENANT ACKNOWLEDGES AND AGREES THAT AS OF THE EFFECTIVE DATE TENANT IS IN POSSESSION OF THE EXISTING PREMISES AND HAS INSPECTED THE FIRST AMENDMENT EXPANSION SPACE AND THAT TENANT ACCEPTS, AND WILL ACCEPT DURING THE TERM, THE SAME IN THEIR PRESENT “AS-is" condition for the Extended Term except for certain Leasehold Improvements (herein so called) to the Premises which shall be completed in accordance with the specifications attached hereto as Exhibit A (the "Approved Plans")IS, which have been approved by both Lessor and LesseeWHERE IS” CONDITION AND WITHOUT ANY AGREEMENTS, REPRESENTATIONS, UNDERSTANDINGS OR OBLIGATIONS ON THE PART OF LANDLORD TO PERFORM ANY ALTERATIONS, REPAIRS OR IMPROVEMENTS, EXCEPT AS OTHERWISE SPECIFICALLY SET FORTH IN SECTION 6.02 BELOW AND THE LEASE. Lessor shall cause the Leasehold Improvements to be installed or constructed in accordance with the Approved Plans by Lessor's contractorLANDLORD, ANY AGENT OF LANDLORD AND ANY BROKER HAVE NOT MADE, AND WILL NOT MAKE, ANY WARRANTY OR REPRESENTATION OF ANY KIND, EXPRESSED OR IMPLIED, WITH RESPECT TO THE EXISTING PREMISES, THE FIRST AMENDMENT EXPANSION SPACE, THE BUILDING, THE COMMON AREAS OR ANY OTHER PORTION OF THE PROJECT. LANDLORD EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTY OF SUITABILITY, HABITABILITY OR MERCHANTABILITY. 6.02. So long as there exists no Event Default, Landlord will construct Initial Improvements desired to be constructed by Tenant in the First Amendment Expansion Space and in the Existing Premises (the “First Amendment Initial Improvements”) and make available to Tenant an improvement allowance of Default up to $200,255.00 (or event which with notice or lapse i.e., $55.00 per square foot of time could become an Event Rentable Area of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00First Amendment Expansion Space) (the "“First Amendment Improvement Allowance"”) in connection with the construction of said First Amendment Tenant Improvements, in each case in accordance with, and subject to, the terms of Exhibit D attached to the Lease (as modified by this Amendment); provided, which allowance however, that: (a) the Plans Due Date for the First Amendment Initial Improvements shall be October 1, 2014; (b) the Allowance Expiration Date for the First Amendment Improvement Allowance shall be May 31, 2015 (the “First Amendment Allowance Expiration Date”) and if there is any undisbursed amount of the First Amendment Improvement Allowance remaining on the First Amendment Allowance Expiration Date, then (i) up to $15,413.56 of the undisbursed First Amendment Improvement Allowance will be applied as payment against Base Rent and Tenant’s Additional Rent with respect to the First Amendment Expansion Space coming due on June 1, 2015, and (ii) any other remaining undisbursed amount of the First Amendment Improvement Allowance shall inure solely to the benefit of Landlord, and Tenant shall have no rights to any credit, offset, abatement or payment with respect thereto; (c) in connection with the services to be used solely for completion of the Leasehold Improvements in accordance provided by Landlord with the Approved Plans, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premises. In the event that any alterations or modifications respect to the Premises are required in order to comply with applicable lawFirst Amendment Initial Improvements, includingTenant shall pay, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of the First Amendment Improvement Allowance. The cost , to PKY Masters TRS Services, LLC (an affiliate of the Leasehold Improvements and the space planning and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materialsLandlord) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope a construction management fee equal to five percent (5%) of the Approved Plans or excess costs over the amount total cost of the First Amendment Initial Improvements, and the same shall be considered an Improvement Cost for purposes of Exhibit D attached to the Lease; and (d) Section 8 of Exhibit D attached to the Lease is hereby deleted in its entirety. If there is any portion of the First Amendment Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope remaining upon Substantial Completion of the Approved Plans or excess costs First Amendment Initial Improvements, then prior to the commencement First Amendment Allowance Expiration Date, Tenant may elect to have Landlord construct additional First Amendment Initial Improvements in the First Amendment Expansion Space and in the Existing Premises in accordance with, and subject to, the terms of this Section 6.02 and the terms of Exhibit D attached to the Lease (as modified by this Amendment); provided, however, (A) the construction of such work additional First Amendment Initial Improvements will not delay the First Amendment Expansion Date or otherwise impact the incurring Term of such excess costs. Any the Lease; (B) in no event will any undisbursed portion of the First Amendment Improvement Allowance be available to Tenant after the First Amendment Allowance Expiration Date for purposes of constructing such additional First Amendment Initial Improvements or otherwise (except as expressly set forth in subparagraph (b)(i) above); (C) such additional First Amendment Initial Improvements may be constructed by Landlord during and/or after business days and Building Standard Hours, no such construction shall be deemed an eviction of Tenant and Tenant shall not be entitled to any offset, abatement or other rights or remedies due to interference with Tenant’s use and occupancy of the Architectural Allowance remaining upon Premises caused by such construction by Landlord; (D) Tenant agrees to reasonably cooperate with Landlord in connection with such construction and Tenant shall cause its employees, agents and invitees to comply with Landlord’s construction rules and regulations; and (E) notwithstanding anything herein to the contrary, any delay in the completion of the Leasehold such additional First Amendment Initial Improvements shall be deemed forfeited by Lesseenot subject Landlord to any liability for any loss or damage resulting therefrom or entitle Tenant to any credit, abatement or adjustment of Rent or other sums payable under this Amendment or the Lease. 6.03. Lessor further Tenant acknowledges and agrees that Section 4.07 of Landlord has fully credited Tenant with the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements initial Improvement Allowance set forth in Section 4.07 1.c. of Exhibit D attached to the Lease and completed all of the Landlord Work set forth in Section 8 of Exhibit D attached to the Lease. Accordingly, Tenant agrees that any prior right to have Landlord disburse, reimburse, or otherwise credit Tenant with any allowance provided for in the Lease (except as provided in Section 6.02 above) and to complete any work is hereby deleted and Tenant shall have no claim for such allowances or any work. 6.04. Except as provided in Section 6.02 above, any construction, alterations or improvements to the Premises shall be performed by Tenant at its sole cost and expense using contractors selected by Tenant and approved by Landlord and shall be governed in all respects by the provisions of the Lease.

Appears in 1 contract

Samples: Lease Agreement (Upland Software, Inc.)

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Improvements to Premises. Lessee Landlord shall take make certain improvements to the interior of the Premises in its "as-is" condition for the Extended Term except for pursuant to those certain Leasehold Improvements (herein so called) to the Premises which shall be completed in accordance with the specifications attached hereto as Exhibit A Fit Plans and Specifications dated July 10, 2018 and prepared by Genesis Architects (the "Approved Plans"“Improvements”). Landlord will use commercially reasonable efforts to substantially complete the Improvements by December 1, which have been approved by both Lessor 2018. Improvements shall include design costs, plans, permits, fees, construction costs, and Lesseea four percent (4%) construction management fee payable to Landlord (collectively, the “Improvement Costs”). Lessor shall cause the Leasehold Improvements The reasonable Improvement Costs, not to be installed or constructed in accordance with the Approved Plans by Lessor's contractor. So long as no Event of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One exceed Two Hundred Fifty-Three and Fifty Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00250,000.00) (the "Improvement Allowance"“Estimated Project Costs”), which allowance is shall be payable by Landlord directly to be used solely for completion the vendor. Section 9(b) of the Leasehold Improvements Lease recognizes that several of the HVAC Units currently serving the building are Aged Units (as defined in accordance with the Approved PlansLease). If Landlord elects to replace one or more of such Aged Units, the cost of such replacement will be paid as contemplated in the Lease and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (shall not count toward the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premisesmaximum project costs referenced above. In the event that any alterations Landlord replaces one or modifications to more of the Premises are required in order to comply with applicable lawAged Units, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, Landlord will bear the cost of replacing a unit of a similar size and capacity, tenant will bear the costs of any such alterations or modifications capacity increases necessitated by the Improvements. Landlord shall be satisfied out provide Tenant a full accounting of the Improvement Allowance. The cost project costs, including without limitation copies of the Leasehold Improvements invoice(s) for such Improvements, and the space planning and design fees is to be paid by Lessor out of such other documents as Tenant shall reasonably request. If the Improvement Allowance and Costs exceed the Architectural AllowanceEstimated Project Costs, respectively. Any completed work (labor or materials) outside the scope Tenant will be responsible for amounts, approved in advance of the Approved Plans or the cost of which is incurrence, in excess of the Estimated Project Costs payable to Landlord immediately upon Landlord providing invoices for such Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the LeaseCosts.

Appears in 1 contract

Samples: Lease Agreement (Nortech Systems Inc)

Improvements to Premises. Lessee shall take the The Premises in its "as-are accepted “as is" condition for the Extended Term except for certain Leasehold Improvements improvements to be made by Landlord, as specified in the Rental Rider attached hereto (herein so called) to the Premises which called “Landlord Improvements”). All necessary construction of Landlord Improvements shall be commenced promptly and shall be substantially completed ready for use and occupancy by Tenant on the date set forth in accordance with Article 3. Provided, however, that the specifications attached hereto as Exhibit A (the "Approved Plans"), which have been approved by both Lessor and Lessee. Lessor shall cause the Leasehold Improvements to be installed or constructed in accordance with the Approved Plans by Lessor's contractor. So long as no Event of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00) (the "Improvement Allowance"), which allowance is to be used solely for substantial completion of the Leasehold Improvements Premises shall be extended for additional periods of time equal to the time lost by Landlord or Landlord’s contractors, subcontractors or suppliers due to strikes or other labor troubles, governmental restrictions and limitations, scarcity, unavailability or delays in accordance obtaining fuel, labor or materials, war or other national emergency, accidents, floods, defective materials, fire damage or other casualties, adverse weather conditions, or any cause similar or dissimilar to the foregoing beyond the reasonable control of Landlord or Landlord’s contractors, subcontractors or suppliers. All construction shall be done in a good and workmanlike manner and shall comply at the time of completion with all applicable laws, ordinances, regulations and orders of the federal, state, county or other governmental authorities having jurisdiction thereof. Tenant and its authorized agents, employees and contractors shall have the right, at Tenant’s own risk, expense and responsibility, at all reasonable times prior to the Commencement Date as hereinafter defined, to enter the Premises for the purpose of taking measurements and installing its furnishing and equipment; provided that Tenant, in so doing, shall not interfere with or delay the work to be performed hereunder by Landlord, and Tenant shall use contractors and workmen compatible with the Approved Plans, contractors and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (workmen engaged in the "Architectural Allowance"), which allowance is work to be used solely for space planning and design services for performed hereunder by Landlord. Tenant shall contribute to the Premisescost of Landlord Improvements, the sum of N/A upon the signing of this lease. In the event that Tenant is responsible for any alterations or modifications to the Premises are required in order to comply with applicable lawconstruction, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws Tenant and regulations, the cost of any such alterations or modifications its contractors shall be satisfied out responsible for transportation, safekeeping and storage of materials and equipment used in the Improvement Allowance. The cost performance of Tenant’s Work, and for the Leasehold Improvements removal of waste and debris resulting from the space planning performance of Tenant’s Work and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee Landlord shall not be required to surrender possession responsible for the coordination of the Premises work of Landlord’s contractors with the work of Tenant’s contractors. Without specific charge being made therefor, Landlord shall allow Tenant and its contractors during normal working hours to Lessor "use utilities, to the extent available, as may be reasonably required in the same condition Premises for the performance of Tenant’s Work. Prior to commencement of Tenant’s Work, Tenant shall obtain and maintain, at its expense, Workmen’s Compensation and Bodily Injury and Property Damage Public Liability Insurance and so called “Builder’s Risk” Insurance (other than the Workmen’s Compensation Insurance) which shall name Landlord as when received", but rather additional insured and shall be entitled submit certificates as evidence thereof to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the LeaseLandlord.

Appears in 1 contract

Samples: Lease Agreement (SXC Health Solutions Corp.)

Improvements to Premises. Lessee shall take Landlord agrees to contribute Six Dollars and Fifty Cents ($6.50) per rentable square foot of the Premises in its initial Demised Premises, and Six Dollars and Fifty Cents ($6.50) per rentable square foot of the Expansion Space (the "as-is" condition Tenant Allowance") towards the cost of constructing certain tenant improvements (the "Tenant Improvements") for the Extended Term except for certain Leasehold Improvements (herein so called) to initial Demised Premises and the Premises which shall be completed Expansion Space in accordance with the specifications space plans (the "Plans") to be approved by both Landlord and Tenant and attached hereto as Exhibit A (D. Of such Tenant Allowance, $.65 per rentable square foot shall be applied for costs incurred for space planning, and $.35 per rentable square foot shall be applied for costs incurred for construction drawings prepared by Landlord's architect. It is understood and agreed that Landlord's contractors shall perform the "Approved Plans"), which have been work in connection with the Tenant Improvements except that Tenant shall use its own contractors to perform certain tenant improvement work to the Tenant's proposed computer room provided that Landlord has first approved in writing the contractors to be used by both Lessor Tenant and Lesseethe work to be performed by such contractors. Lessor shall cause the Leasehold The Tenant Improvements to be installed constructed by Landlord pursuant to the Plans is hereinafter referred to as the "Landlord's Work". If the Landlord's cost to construct the Landlord's Work pursuant to the Plans exceeds the Tenant Allowance, then with ten (10) days of Tenant's receipt of an invoice from Landlord, Tenant shall pay Landlord, as additional rent, by certified or constructed in accordance with the Approved Plans by Lessorcashier's contractor. So long as no Event of Default (or event which with notice or lapse of time could become check, an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance amount equal to One Hundred Fifty-Three Thousand One Hundred Nineteen the difference between the cost to construct the Landlord's Work and No/100 Dollars ($153,119.00) (the "Improvement Tenant Allowance"), which allowance is . Tenant agrees it shall not make any changes to be used solely for completion the Plans without obtaining the prior written consent of the Leasehold Improvements in accordance with the Approved Plans, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the PremisesLandlord. In the event that any alterations or modifications Tenant shall make changes to the Premises Plans that are required approved by Landlord and which result in order an additional cost to comply with applicable law, including, without limitation, Landlord of completing the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements and the space planning and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is Landlord's Work in excess of the Improvement Allowance or the Architectural Tenant Allowance, Tenant shall pay to Landlord prior to construction of such changes, as additional rent, any increase in the case may beLandlord's cost of completing the Landlord's Work in excess of the Tenant Allowance resulting from such changes in the Plans. In the event Tenant, its employees or agents, causes any delay or is otherwise responsible, in whole or in part, for any additional costs in excess of the Tenant Allowance incurred by Landlord in constructing the Landlord's Work (other than additional costs arising due to changes to the Plans as described above), Tenant shall be at Lessee's sole cost and will be billed pay to Lessee by Lessor and will be due and payable Landlord within ten (10) business days after Lessee's of receipt of an invoice therefor. Notwithstanding the foregoingwritten notice from Landlord, Lessee will not be liable for work outside the scope as additional rent, any such additional costs in excess of the Approved Plans or excess costs over the amount of the Improvement Tenant Allowance or the Architectural Allowance unless Lessee has consented in writing incurred by Landlord. Tenant's failure to timely pay any such work outside the scope of the Approved Plans or excess costs prior amounts to the commencement of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited paid by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition Tenant as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 this Paragraph, at the time and in the manner set forth in this Paragraph, shall be an event of default. Tenant shall not commence any of the Lease.tenant improvements to the Tenant's computer room until Landlord has approved the plans prepared by Tenant and the contractors to be used by Tenant in connection with such work. The Landlord shall reimburse the Tenant for costs associated with all such tenant improvement work to the Tenant's computer room up to an amount (the Tenant's TI Allowance") equal to the excess, if any, of the Tenant Allowance remaining after deducting the costs actually incurred by Landlord to construct the Landlord's Work. Tenant shall indemnify and hold Landlord harmless from any loss, liability, damage, claim, judgement, cost or expense incurred by Landlord (including but not limited to attorneys' fees and expenses and costs) resulting from or relating to any work performed

Appears in 1 contract

Samples: Office Building Lease (Credit Management Solutions Inc)

Improvements to Premises. Lessee shall take the Premises in its "as-is" condition (a) Improvements Paid for by Lessor. Lessor agrees to pay, at Lessor's sole cost and expense, for the Extended Term except for certain Leasehold Improvements following items: (herein so calledi) the cost of installing the exterior windows identified on Exhibit "B" attached hereto (the "EXTERIOR WINDOWS"). The Exterior Windows shall be of the same general type, design and quality as the existing exterior windows at the New Premises; (ii) the cost of installing new carpet inside the New Premises (the "NEW CARPET"). The New Carpet shall be of a quality that is comparable to the quality of the carpet in Lessee's Existing Premises and the color of the carpet shall be reasonably acceptable to Lessor; (iii) the cost of painting the interior walls of the New Premises with paint of a quality that is comparable to the quality of the paint in Lessee's Existing Premises; (iv) the cost of replacing the existing air conditioning units on the roof of the New Premises; (v) the cost of repairing faucets, toilets or other broken fixtures in the bathrooms presently located in the New Premises; (vi) to the extent required by the existing City of Los Angeles (the "CITY") ordinances relating to seismic safety, the cost of causing the ceiling of the New Premises which shall be completed to comply with such laws; and (vii) if at the time Lessee obtains a permit from the City for the construction of the Improvements (as defined in accordance with the specifications Work Letter Agreement attached hereto as Exhibit A (the "Approved PlansC"), which have been approved by both Lessor and Lessee. Lessor shall cause the Leasehold Improvements to City requires that certain improvements be installed or constructed in accordance with the Approved Plans by Lessor's contractor. So long as no Event of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00) (the "Improvement Allowance"), which allowance is to be used solely for completion of the Leasehold Improvements in accordance with the Approved Plans, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premises. In the event that any alterations or modifications made to the Premises are required in order to comply with applicable lawthe requirements of Title 24, including, without limitation, the Americans with Disabilities Act fifty percent (50%) of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any constructing such alterations or modifications improvements shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements and the space planning and design fees is to be paid by Lessor out and fifty percent (50%) of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited paid by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the Lease.

Appears in 1 contract

Samples: Standard Industrial/Commercial Single Tenant Lease Net (Netcom Systems Inc)

Improvements to Premises. Lessee 8.1. Landlord has agreed to provide the following: 8.1.1. Landlord shall take construct at its sole cost and expense on the Premises an expansion area containing three bays and having a total square footage thereof in the amount of 8.1.2. Landlord, at its sole cost and expense shall 8.1.2.1. Deliver the Premises in its "as-is" condition for good, broom clean condition, free of unsightly vegetation, with all mechanical systems in good working order and operating condition; 8.1.2.2. Repaint, recarpet and clean the Extended Term except for certain Leasehold Improvements (herein so called) existing office area using standard grade materials and methods therefore; 8.1.2.3. Repair those portions of the roof where leakage exists and prior damage caused thereby. 8.1.3. Landlord shall give written notice to Tenant at such time as Landlord's work shall have progressed to a point where Tenant may enter the Premises in order to install its 8.2. Tenant shall not make any structural or material alteration, improvement or addition to the Premises Building or the rest of the Premises, (each of which shall be completed in accordance with the specifications attached hereto is herein referred to as Exhibit A (the an "Approved PlansAlteration"), without first presenting to Landlord plans and specifications therefor and obtaining Landlord's written consent thereto (which have been approved by both Lessor Landlord may give or withhold in its sole and Lessee. Lessor shall cause absolute discretion; provided, however that Landlord will not unreasonably withhold or delay its consent thereto where (a) the Leasehold Improvements Alteration or material change is essential to be installed or constructed in accordance with the Approved Plans by Lessoroperation of Tenant's contractor. So long as no Event of Default business, (or event which with notice or lapse of time could become an Event of Defaultb) has occurred under the Lease, Lessor Tenant agrees to provide Lessee an allowance equal restore the Premises to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00) (their condition immediately before such Alteration was made, by not later than the "Improvement Allowance"), which allowance is to be used solely for completion earlier of the Leasehold Improvements in accordance with date on which Tenant vacates the Approved PlansPremises or the Termination Date, and an additional allowance equal (c) Tenant prior to Three Thousand Two Hundred making such Alteration or material change provides to Landlord at that time such collateral as Landlord reasonably shall require to fund the full cost of restoration. Landlord shall not unreasonably withhold its consent to any non-structural or immaterial changes, and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is Tenant shall be obligated at its sole expense to be used solely for space planning remove same if requested by Landlord and design services for the Premises. In the event that any alterations or modifications to restore the Premises are required in order to comply with applicable law, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements and the space planning and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any portion end of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the LeaseTerm.

Appears in 1 contract

Samples: Lease (Denali Inc)

Improvements to Premises. Lessee Tenant agrees that Landlord shall take have no obligation to make any leasehold improvements to the Premises in connection with this Amendment except as provided in Paragraph 2 above. Tenant agrees to submit all plans and specifications for its "as-is" condition leasehold improvements (the Improvements) in the Premises to Landlord for Landlords written approval. No work shall be commenced with respect to the Improvements until Landlord has approved plans and specifications therefor. Landlord agrees that it will not unreasonably withhold or delay its approval of any plans or specifications for the Extended Term except Improvements. The approved plans and specifications for certain Leasehold Improvements (the Improvements, including all changes required by Landlord, shall be referred to herein so called) as the Approved Plans. All work with respect to the Premises which Improvements shall (a) be completed in accordance with the specifications attached hereto as Exhibit A (the "Approved Plans"), which have been approved by both Lessor and Lessee. Lessor shall cause the Leasehold Improvements to be installed or constructed in accordance with the Approved Plans by Lessor's contractor. So long as no Event of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00) (the "Improvement Allowance"), which allowance is to be used solely for completion of the Leasehold Improvements performed substantially in accordance with the Approved Plans; (b) be performed in such a manner as to maintain harmonious labor relations and not to interfere with or delay any other work and activities being carried on by Landlord, any of Landlords contractors, and an additional allowance other tenants; (c) be designed, performed, and completed in strict compliance with the Lease and with all building standards and regulations established by Landlord; (d) be completed by contractors and subcontractors approved by Landlord (which approval will not be unreasonably withheld or delayed so long as such contractors and subcontractors are licensed and bonded in the state in which the Premises are located and meet all of Landlords insurance requirements); (e) be coordinated by all contractors and subcontractors engaged by Tenant so as to insure timely completion thereof; (f) be coordinated with Landlord with respect to the movement of equipment and materials; (g) not adversely affect the structure or safety of the Building; (h) comply with all building, safety, fire, plumbing, electrical, and other codes and governmental and insurance requirements; (i) not result in any usage in excess of services provided by Landlord under the Lease for the Premises, including water, electricity, gas, heating, ventilating, and air conditioning (either during or after such work), unless prior written arrangements satisfactory to Landlord are made with respect thereto; and (j) be completed promptly and in a good and workmanlike manner. Landlord will charge a construction management fee in connection with the Improvements (the Additional Construction Management Fee) equal to Three 1.7% of the amount of the Future Improvement Allowance which is funded by Landlord in connection with the Improvements. So long as (i) no Event of Default under the Lease has occurred and is continuing, and (ii) no event for which Landlord has provided notice (to the extent notice is required under the Lease) and/or which following the expiration of the applicable cure period could become an Event of Default under the Lease has occurred and is continuing, Tenant shall be entitled to a cash allowance in the amount of Two Million Four Hundred Sixty-Four Thousand Two Eight Hundred Five and No/100 Dollars ($3,200.002,464,805.00) (the "Architectural Future Improvement Allowance"), toward the construction of the Improvements in the Premises and the payment of the Additional Construction Management Fee. A portion of the Future Improvement Allowance, equal to One Million Seven Hundred Fifty Thousand Four Hundred Twenty-Nine and No/100 Dollars ($1,750,429.00) (which allowance is amount shall be reduced by any portion of the Future Improvement Allowance which was applied to be used solely for space planning and design services payment for the Premises. In Initial Alterations) (the event that any alterations or modifications to the Premises are required in order to comply with applicable law, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements and the space planning and design fees is to be paid by Lessor out of the Improvement 2012 Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may bePortion), shall be at Lessee's sole cost and will be billed payable to Lessee by Lessor and will be due and payable within ten Tenant in multiple draws, provided that Tenant may request such payments no more frequently than every thirty (1030) days after Lessee's receipt and the aggregate amount of an invoice therefor. Notwithstanding the foregoing, Lessee will such draws shall not be liable for work outside the scope of the Approved Plans or excess costs over exceed the amount of the Improvement 2012 Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope Portion. Such payments shall be made by Landlord within forty-five (45) days after Landlords receipt of the Approved Plans or excess costs prior to the commencement Tenants request for payment of such amount (the 2012 Payment Requests), accompanied by the following: (i) paid invoices from the general contractor for work or done and/or materials furnished in connection with the incurring Improvements, aggregating at least the amount requested (excluding any amounts for invoices presented in connection with the Initial Alterations and any prior 2012 Payment Request); and (ii) partial lien waivers from all payees under such invoices for all work done and materials furnished through the date of such excess costsinvoices. Any The final draw under the 2012 Allowance Portion shall be payable only upon Landlords receipt of Tenants request for payment of such amount, accompanied by the following: (i) paid invoices from the general contractor for work done and/or materials furnished in connection with the Improvements, aggregating at least the amount requested (excluding any amounts for invoices presented in connection with the Initial Alterations and any prior 2012 Payment Request); (ii) if applicable, a Certificate of Occupancy by the City of Austin, Texas; and (iii) original final lien waivers and/or releases of liens from the general contractor and all subcontractors associated with the portion of the Improvement Improvements for which payment is being requested. Tenant acknowledges and agrees that payments from the 2012 Allowance Portion may be requested only after January 1, 2012. Further, Landlord has conditioned its agreement to fund the 2012 Allowance Portion on the payment thereof on or the Architectural Allowance remaining upon the completion before May 31, 2013. Therefore, all documentation required for payment of the Leasehold Improvements shall 2012 Allowance Portion must be delivered to Landlord on or before April 30, 2013, and any of the 2012 Allowance Portion remaining after payment of the amount supported by such documentation will be deemed forfeited by LesseeTenant. Lessor further The remaining portion of the Future Improvement Allowance, equal to Seven Hundred Fourteen Thousand Three Hundred Seventy-Six and No/100 Dollars ($714,376.00) (the 2013 Allowance Portion), shall be payable to Tenant in multiple draws, provided that Tenant may request such payments no more frequently than every thirty (30) days and the aggregate amount of such draws shall not exceed the amount of the 2013 Allowance Portion. Such payments shall be made by Landlord within forty-five (45) days after Landlords receipt of Tenants request for payment of such amount (the 2013 Payment Requests), accompanied by the following: (i) paid invoices from the general contractor for work done and/or materials furnished in connection with the Improvements, aggregating at least the amount requested (excluding any amounts for invoices presented in connection with the Initial Alterations, the 2012 Payment Requests, and any prior 2013 Payment Request); and (ii) partial lien waivers from all payees under such invoices for all work done and materials furnished through the date of such invoices. The final draw under the 2013 Allowance Portion shall be payable only upon Landlords receipt of Tenants request for payment of such amount, accompanied by the following: (i) paid invoices from the general contractor for work done and/or materials furnished in connection with the Improvements, aggregating at least the amount requested (excluding any amounts for invoices presented in connection with the Initial Alterations, the 2012 Payment Requests, and any prior 2013 Payment Request); (ii) if applicable, a Certificate of Occupancy by the City of Austin, Texas; and (iii) original final lien waivers and/or releases of liens from the general contractor and all subcontractors associated with the Improvements for which payment is being requested. Tenant acknowledges and agrees that Section 4.07 payments from the 2013 Allowance Portion may be requested only after January 1, 2013. Further, Landlord has conditioned its agreement to fund the 2013 Allowance Portion on the payment thereof on or before May 31, 2014. Therefore, all documentation required for payment of the 2013 Allowance Portion must be delivered to Landlord on or before April 30, 2014, and any of the 2013 Allowance Portion remaining after payment of the amount supported by such documentation will be deemed forfeited by Tenant. If a default or breach by Tenant has occurred under the Lease is hereby amended at the time Tenant would otherwise be entitled to provide that Lessee payment under this Paragraph, Landlord shall not be required to surrender possession of the Premises make such payment to Lessor "Tenant until such default or breach has been fully cured. Nothing contained in the same condition as when received", but rather this Amendment shall be entitled deemed as a waiver of any obligation of Tenant or Tenants agent, trustee, or receiver to surrender possession of the Premises withhold or retain amounts which are required by applicable law to be withheld or retained in the same condition as exists upon connection with the completion of the Leasehold Improvements described in Paragraph 3 aboveImprovements, subject to and no such amounts being retained or withheld by Tenant or Tenants agent, trustee, or receiver shall be paid out of any and all other requirements set forth in Section 4.07 of the Leaseimprovement allowance.

Appears in 1 contract

Samples: Lease (Convio, Inc.)

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