Common use of Improvements to the Expansion Space Clause in Contracts

Improvements to the Expansion Space. Promptly after full execution and delivery of this Fourth Amendment, Landlord shall, at Landlord’s sole cost and expense and using readily-available Building-standard materials (collectively, the “Improvements”), (i) repaint currently painted walls throughout the Expansion Space; and (ii) steam clean currently carpeted floors throughout the Expansion Space. Landlord and Tenant hereby acknowledge that the Improvements shall be completed by Landlord prior to the Expansion Commencement Date. Except as specifically set forth in this Section 6, Tenant hereby agrees to accept the Expansion Space in its “as-is” condition and Tenant hereby acknowledges that Landlord shall not be obligated to provide or pay for any other work or services related to the improvement of the Expansion Space. Landlord shall cause the following elements of the Project serving the Expansion Space to be in good working order, condition and repair as of the date of delivery of the Expansion Space to Tenant: (i) the heating, ventilating and air conditioning systems servicing the Expansion Space, (ii) the electrical system servicing the Expansion Space, (iii) the fire/life safety system within the Expansion Space, and (iv) the plumbing system servicing the Expansion Space. If any such items are not in good working order, condition and repair as of such date, then as Tenant’s sole remedy, upon notice from Tenant, Landlord shall, at Landlord’s sole cost and expense, cause such items to be in good working order, condition and repair; provided, however, that, unless and to the extent such items are not in good working order, condition and repair as a result of latent defects not reasonably discoverable by an inspection of the Project or Expansion Space, if Tenant fails to so notify Landlord in writing that any such items are not in good working order, condition and repair by July 15, 2014 , Landlord shall be deemed to have satisfied its obligations with respect to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article 3 of the Original Lease (and otherwise at Landlord’s sole cost and expense), cause the Project to comply with any applicable requirements of the ADA (provided that this obligation shall not apply to the Expansion Space nor to any requirements attributable to Tenant’s use of the Expansion Space or Tenant’s specific improvements within the Expansion Space), and (b) at Landlord’s sole cost and expense, cause the Expansion Space, as of the date of delivery of possession thereof, to comply with any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except as set forth in this Section 6, Tenant acknowledges that Landlord has made no representation or warranty regarding the condition of the Expansion Space.

Appears in 2 contracts

Samples: Lease (loanDepot, Inc.), Lease (loanDepot, Inc.)

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Improvements to the Expansion Space. Promptly after full execution and delivery of this Fourth Third Amendment, Landlord shall, at Landlord’s sole cost and expense and using readily-available Building-standard materials (collectively, the “Improvements”), (i) repaint currently painted walls throughout the Expansion Space; and (ii) steam clean currently carpeted floors throughout the Expansion Space; and (iii) create a five-foot wide opening in the existing demising wall between Suites 310 and 305 as depicted on EXHIBIT A attached hereto, and move the existing demising wall between Xxxxx 000 xxx Xxxxx 000 to the location depicted on EXHIBIT A attached hereto (item (iii) to be referred to herein as the “Suite Configuration Work”). Landlord and Tenant hereby acknowledge that the Improvements Improvements, other than the Suite Configuration Work, shall be completed by Landlord prior to the Expansion Commencement Date. Landlord and Tenant hereby acknowledge that the Suite Configuration Work may be completed by Landlord after the Expansion Commencement Date, but any such work after the Expansion Commencement Date shall be performed during non-normal business hours. Tenant hereby agrees that the performance of the Improvements shall in no way constitute a constructive eviction of Tenant nor entitle Tenant to any abatement of Basic Rental for the Expansion Space payable pursuant to this Third Amendment. Landlord shall have no responsibility or for any reason be liable to Tenant for any direct or indirect injury to or interference with Tenant’s business arising from the performance of the Improvements, nor shall Tenant be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Expansion Space resulting from the performance of the Improvements or for any inconvenience or annoyance occasioned by the performance of the Improvements. Except as specifically set forth in this Section 6, Tenant hereby agrees to accept the Expansion Space in its “as-is” condition and Tenant hereby acknowledges that Landlord shall not be obligated to provide or pay for any other work or services related to the improvement of the Expansion Space. Landlord shall cause the following elements of the Project serving the Expansion Space to be in good working order, condition and repair as of the date of delivery of the Expansion Space to Tenant: (i) the heating, ventilating and air conditioning systems servicing the Expansion Space, (ii) the electrical system servicing the Expansion Space, (iii) the fire/life safety system within the Expansion Space, and (iv) the plumbing system servicing the Expansion Space. If any such items are not in good working order, condition and repair as of such date, then as Tenant’s sole remedy, upon notice from Tenant, Landlord shall, at Landlord’s sole cost and expense, cause such items to be in good working order, condition and repair; provided, however, that, unless and to the extent such items are not in good working order, condition and repair as a result of latent defects not reasonably discoverable by an inspection of the Project or Expansion Space, if Tenant fails to so notify Landlord in writing that any such items are not in good working order, condition and repair by July within fifteen (15, 2014 ) business days after Landlord’s delivery of the Expansion Space to Tenant, Landlord shall be deemed to have satisfied its obligations with respect to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article 3 of the Original Lease (and otherwise at Landlord’s sole cost and expense), cause the Project to comply with any applicable requirements of the ADA (provided that this obligation shall not apply to the Expansion Space nor to any requirements attributable to Tenant’s use of the Expansion Space or Tenant’s specific improvements within the Expansion Space), and (b) at Landlord’s sole cost and expense, cause the Expansion Space, as of the date of delivery of possession thereof, to comply with any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except as set forth in this Section 6, Tenant acknowledges that Landlord has made no representation or warranty regarding the condition of the Expansion Space.

Appears in 1 contract

Samples: Lease (loanDepot, Inc.)

Improvements to the Expansion Space. Promptly after full execution and delivery Landlord agrees to contribute Twelve Dollars ($12.00) per rentable square foot of this Fourth Amendment, Landlord shall, at Landlord’s sole cost and expense and using readily-available Building-standard materials (collectively, the “Improvements”), (i) repaint currently painted walls throughout the Expansion Space; and Space (iithe "Tenant Allowance") steam clean currently carpeted floors throughout towards the Expansion Space. Landlord and cost of constructing certain tenant improvements (the "Tenant hereby acknowledge that the Improvements shall be completed by Landlord prior to the Expansion Commencement Date. Except as specifically set forth in this Section 6, Tenant hereby agrees to accept Improvements") for the Expansion Space in its “as-is” condition accordance with the space plans (the "Plans") to be approved by both Landlord and Tenant hereby acknowledges and attached hereto as Exhibit B. It is understood and agreed that Landlord Landlord's contractors shall perform the work in connection with the Tenant Improvements. If the cost to construct the Tenant Improvements pursuant to the Plans exceeds the Tenant Allowance, then within ten (10) days of Tenant's receipt of an invoice from Landlord, Tenant shall pay Landlord, as additional rent, by certified or cashier's check, an amount equal to the difference between the cost to construct the Tenant Improvements and the Tenant Allowance. Tenant agrees it shall not be obligated make any changes to provide the Plans without obtaining the prior written consent of Landlord. In the event Tenant shall make changes to the Plans that are approved by Landlord and which result in an additional cost to Landlord of completing the Tenant Improvements in excess of the Tenant Allowance, or pay in the event Tenant, its employees or agents, causes any delays or is otherwise responsible, in whole or in part, for any other work or services related to the improvement additional costs in excess of the Expansion Space. Tenant Allowance incurred by Landlord in constructing the Tenant Improvements, Tenant shall cause the following elements pay to Landlord within ten (10) days of receipt of written notice from Landlord, as additional rent, by certified or cashier's check, any such additional costs incurred by Landlord in excess of the Project serving the Expansion Space Tenant Allowance. Tenant's failure to timely pay any such amounts to be in good working order, condition and repair as of the date of delivery of the Expansion Space to Tenant: (i) the heating, ventilating and air conditioning systems servicing the Expansion Space, (ii) the electrical system servicing the Expansion Space, (iii) the fire/life safety system within the Expansion Space, and (iv) the plumbing system servicing the Expansion Space. If any such items are not in good working order, condition and repair as of such date, then as Tenant’s sole remedy, upon notice from Tenant, Landlord shall, at Landlord’s sole cost and expense, cause such items to be in good working order, condition and repair; provided, however, that, unless and to the extent such items are not in good working order, condition and repair as a result of latent defects not reasonably discoverable paid by an inspection of the Project or Expansion Space, if Tenant fails to so notify Landlord in writing that any such items are not in good working order, condition and repair by July 15, 2014 , Landlord shall be deemed to have satisfied its obligations with respect to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article 3 of the Original Lease (and otherwise at Landlord’s sole cost and expense), cause the Project to comply with any applicable requirements of the ADA (provided that this obligation shall not apply to the Expansion Space nor to any requirements attributable to Tenant’s use of the Expansion Space or Tenant’s specific improvements within the Expansion Space), and (b) at Landlord’s sole cost and expense, cause the Expansion Space, as of the date of delivery of possession thereof, to comply with any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except as set forth in this Section 6Paragraph, at the time and in the manner set forth in this Paragraph, shall be an event of default. In the event, after the Tenant acknowledges Improvements have been completed, Landlord determines that Landlord has made no representation or warranty regarding the condition 56 costs actually incurred to construct the Tenant Improvements is less than the Tenant Allowance, the difference between the amount of the Expansion SpaceTenant Allowance and the costs actually incurred to construct the Tenant Improvements shall be credited against Tenant's next payment of Basic Rental.

Appears in 1 contract

Samples: Lease Agreement (Deltek Systems Corp)

Improvements to the Expansion Space. Promptly after full execution and delivery Landlord agrees to contribute Twelve Dollars ($12.00) per rentable square foot of this Fourth Amendment, Landlord shall, at Landlord’s sole cost and expense and using readily-available Building-standard materials (collectively, the “Improvements”), (i) repaint currently painted walls throughout the Expansion Space; and Space (iithe "Tenant Allowance") steam clean currently carpeted floors throughout towards the Expansion Space. Landlord and cost of constructing certain tenant improvements (the "Tenant hereby acknowledge that the Improvements shall be completed by Landlord prior to the Expansion Commencement Date. Except as specifically set forth in this Section 6, Tenant hereby agrees to accept Improvements") for the Expansion Space in its “as-is” condition accordance with the space plans (the "Plans") to be approved in writing by both Landlord and Tenant hereby acknowledges and attached hereto as Exhibit B. It is understood and agreed that Landlord Landlord's contractors shall perform the work in connection with the Tenant Improvements. If the cost to construct the Tenant Improvements pursuant to the Plans exceeds the Tenant Allowance, then within ten (10) days of Tenant's receipt of an invoice from Landlord, Tenant shall pay Landlord, as additional rent, by certified or cashier's check, an amount equal to the difference between the cost to construct the Tenant Improvements and the Tenant Allowance. Tenant agrees it shall not be obligated make any 61 changes to provide the Plans without obtaining the prior written consent of Landlord. In the event Tenant shall make changes to the Plans that are approved by Landlord and which result in an additional cost to Landlord of completing the Tenant Improvements in excess of the Tenant Allowance, or pay in the event Tenant, its employees or agents, causes any delays or is otherwise responsible, in whole or in part, for any other work or services related to the improvement additional costs in excess of the Expansion Space. Tenant Allowance incurred by Landlord in constructing the Tenant Improvements, Tenant shall cause the following elements pay to Landlord within ten (10) days of receipt of written notice from Landlord, as additional rent, by certified or cashier's check, any such additional costs incurred by Landlord in excess of the Project serving the Expansion Space Tenant Allowance. Tenant's failure to timely pay any such amounts to be in good working order, condition and repair as of the date of delivery of the Expansion Space to Tenant: (i) the heating, ventilating and air conditioning systems servicing the Expansion Space, (ii) the electrical system servicing the Expansion Space, (iii) the fire/life safety system within the Expansion Space, and (iv) the plumbing system servicing the Expansion Space. If any such items are not in good working order, condition and repair as of such date, then as Tenant’s sole remedy, upon notice from Tenant, Landlord shall, at Landlord’s sole cost and expense, cause such items to be in good working order, condition and repair; provided, however, that, unless and to the extent such items are not in good working order, condition and repair as a result of latent defects not reasonably discoverable paid by an inspection of the Project or Expansion Space, if Tenant fails to so notify Landlord in writing that any such items are not in good working order, condition and repair by July 15, 2014 , Landlord shall be deemed to have satisfied its obligations with respect to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article 3 of the Original Lease (and otherwise at Landlord’s sole cost and expense), cause the Project to comply with any applicable requirements of the ADA (provided that this obligation shall not apply to the Expansion Space nor to any requirements attributable to Tenant’s use of the Expansion Space or Tenant’s specific improvements within the Expansion Space), and (b) at Landlord’s sole cost and expense, cause the Expansion Space, as of the date of delivery of possession thereof, to comply with any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except as set forth in this Section 6Paragraph, at the time and in the manner set forth in this Paragraph, shall be an event of default. In the event, after the Tenant acknowledges Improvements have been completed, Landlord determines that Landlord has made no representation or warranty regarding the condition costs actually incurred to construct the Tenant Improvements is less than the Tenant Allowance, the difference between the amount of the Expansion SpaceTenant Allowance and the costs actually incurred to construct the Tenant Improvements shall be credited against Tenant's next payment of Basic Rental.

Appears in 1 contract

Samples: Lease Agreement (Deltek Systems Corp)

Improvements to the Expansion Space. Promptly after Upon full execution and delivery of this Fourth Fifth Amendment, Landlord shall, at Landlord’s sole cost and expense and using readilyTenant shall be entitled to a one-available Building-standard materials time improvement allowance (collectively, the “ImprovementsImprovement Allowance”) in the amount of $17,735.00 for the costs relating to certain improvement work in the Expansion Space (the “Improvement Work”), (i) repaint currently which work shall include, but is not limited to, repainting painted walls throughout the Expansion Space; Space and (ii) steam clean currently carpeted floors repairing carpeting throughout the Expansion Space. Notwithstanding the foregoing, Tenant shall have the right to apply any unused portion of the Improvement Allowance, if any, toward its Monthly Basic Rental obligation for the Expansion Space following Landlord’s receipt of Tenant’s written request therefor. In no event shall Landlord be obligated to make disbursements pursuant to this Section 6 in a total amount which exceeds the Improvement Allowance and in no event shall Tenant hereby acknowledge that be entitled to any credit for any unused portion of the Improvements Improvement Allowance not used by Tenant by May 31, 2015. Landlord shall independently retain the contractor, on behalf of Tenant, to perform the Improvement Work within the Expansion Space and Landlord shall coordinate such work by said contractor and use its commercially reasonable efforts to cause the Improvement Work to be completed by Landlord prior to the Expansion Commencement Date, provided Tenant has timely executed this Fifty Amendment. Tenant hereby agrees that the performance of the Improvement Work shall in no way constitute a constructive eviction of Tenant nor entitle Tenant to any abatement of Basic Rental payable pursuant to this Fifth Amendment. Landlord shall have no responsibility or for any reason be liable to Tenant for any direct or indirect injury to or interference with Tenant’s business arising from the performance of the Improvement Work, nor shall Tenant be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Expansion Space resulting from the performance of the Improvement Work or for any inconvenience or annoyance occasioned by the performance of such work,. Except as specifically set forth in this Section 6, Tenant hereby agrees to accept the Expansion Space in its “as-is” condition and Tenant hereby acknowledges that Landlord shall not be obligated to provide or pay for any other work or services related to the improvement of the Expansion Space. Landlord shall cause the following elements of the Project 26632 Building serving the Expansion Space to be in good working order, condition and repair as of the date of delivery of the Expansion Space to TenantCommencement Date: (i) the heating, ventilating and air conditioning systems servicing the Expansion Space, (ii) the electrical system servicing the Expansion Space, (iii) the fire/life safety system within the Expansion Space, and (iv) the plumbing system servicing the Expansion Space. If any such items are not in good working order, condition and repair as of such date, then as Tenant’s sole remedy, upon notice from Tenant, Landlord shall, at Landlord’s sole cost and expense, cause such items to be in good working order, condition and repair; provided, however, that, unless and to the extent such items are not in good working order, condition and repair as a result of latent defects not reasonably discoverable by an inspection of the Project or Expansion Space, if Tenant fails to so notify Landlord in writing that any such items are not in good working order, condition and repair by July November 15, 2014 2014, Landlord shall be deemed to have satisfied its obligations with respect to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article Section 3 of the Original Lease (and otherwise at Landlord’s sole cost and expense), cause the Project 26632 Building to comply with any applicable requirements of the ADA (provided that this obligation shall not apply to the Expansion Space nor to any requirements attributable to Tenant’s use of the Expansion Space or Tenant’s specific improvements within the Expansion Space), and (b) at Landlord’s sole cost and expense, cause the Expansion Space, as of the date of delivery of possession thereofExpansion Commencement Date, to comply with any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except as set forth in this Section 6, Tenant also acknowledges that Landlord has made no representation or warranty regarding the condition of the Expansion Space.

Appears in 1 contract

Samples: Lease (loanDepot, Inc.)

Improvements to the Expansion Space. Promptly after full execution and delivery of this Fourth Amendment, A. Landlord shall, at Landlord’s sole cost and expense and using readily-available Building-standard materials (collectively, the “Improvements”), (i) repaint currently painted walls throughout the Expansion Space; and (ii) steam clean currently carpeted floors throughout the Expansion Space. Landlord and Tenant hereby acknowledge that the Improvements shall be completed by Landlord prior to the Expansion Commencement Date. Except as specifically set forth in this Section 6, Tenant hereby agrees to accept deliver the Expansion Space to Tenant in its “as-is” condition (broom clean and Tenant hereby acknowledges that free of all furniture and work stations) and Landlord shall not be obligated have no obligation to provide perform, or, except as expressly set forth in this Paragraph 4, pay for, any work, improvements or pay for any other work alterations in or services related to the improvement Expansion Space in connection with this First Amendment or otherwise. Notwithstanding the foregoing, and provided that Tenant is not then in default under the Lease, Landlord shall provide Tenant with a refurbishment allowance of Fifty-One Thousand Nine Hundred Seventy-Five Dollars ($51,975.00) (or Seven and 50/100 Dollars ($7.50) per rentable square foot of the Expansion Space. Landlord shall cause ) (the following elements “Refurbishment Allowance”) to pay for costs and expenses incurred by Tenant in connection with the design and construction of the Project serving improvements which Tenant desires to undertake in and to the Expansion Space to be in good working order, condition and repair as of (the date of delivery of the Expansion Space Improvements”), which costs and expenses shall include the costs of all space planning, architectural and engineering work related thereto, all governmental and quasi-governmental approvals and permits required therefor, any costs incurred by Landlord because of changes to the base Building or the base Building systems, all construction costs, contractors’ overhead and profit, Tenant: (i) ’s construction management fees, insurance and other requirements, the heating, ventilating cost of Tenant’s telecommunications cabling and air conditioning systems servicing wiring installed in the Expansion Space, (ii) the electrical system servicing the Expansion Spacecost of Tenant’s initial furniture, (iii) the fire/life safety system within fixtures and equipment installed in the Expansion Space, and all other costs and expenses incurred in connection with the Expansion Space Improvements. Disbursements of the Refurbishment Allowance by Landlord (iv“Partial Payments”) shall be made on a monthly basis, if requested in writing by Tenant, or, if not so requested, paid out by Landlord upon completion of the Expansion Space Improvements, and the satisfaction of the conditions set forth below, including the receipt by Landlord of final lien waivers from all general contractors, subcontractors and material suppliers who perform work or provide materials in connection therewith. Each of Tenant’s requests for a Partial Payment (the “Draw Requests”) shall be accompanied by (a) the plumbing system servicing general contractor’s application for payment (including, if applicable, an architect’s certification thereof) setting forth a detailed description of the work completed (including the percentage of the total job which the work with respect to which the contractor seeks payment represents) and the total cost of such work; (b) invoices for design, architectural or permit costs incurred by Tenant; (c) a written approval by Tenant and its architect of the contractor’s application of payment and the work performed by the contractor(s); and (d) partial lien waivers (or, with respect to the final Draw Request, final lien waivers) and releases of mechanic’s and materialmen’s liens from the general contractor, subcontractors and material suppliers providing work or services in or to the Expansion Space. If any such items are not in good working order, condition and repair as The Landlord shall make Partial Payments of such date, then as Tenant’s sole remedy, upon notice the Refurbishment Allowance within thirty (30) days after receipt of a Draw Request from Tenant, Landlord shallprovided that such Draw Request is accompanied by all applicable information and documentation set forth in (a)-(d), at Landlordabove. The Tenant’s sole cost final Draw Request shall include a certificate of substantial completion prepared by Tenant’s architect and expense, cause such items shall also include all applicable final lien waivers. Prior to be undertaking any Expansion Space Improvements in good working order, condition and repair; provided, however, that, unless and to the extent such items are not in good working order, condition and repair as a result of latent defects not reasonably discoverable by an inspection of the Project or Expansion Space, if Tenant fails shall submit to so notify Landlord for its approval full working drawings (the “Working Drawings”) depicting all Expansion Space Improvements which Tenant desires to install in writing that any such items are not in good working orderthe Expansion Space, condition and repair by July 15, 2014 , Landlord which Working Drawings shall be deemed satisfy the requirements set forth for the “Tenant’s Plans” pursuant to have satisfied its obligations with respect Exhibit B attached to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article 3 of the Original Lease (and otherwise at Landlord’s sole cost and expensecaptioned, “Work Agreement”), cause . All Working Drawings depicting the Project Expansion Space Improvements to comply with any applicable requirements of the ADA (provided that this obligation shall not apply be constructed in or to the Expansion Space nor shall be subject to approval by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed, except if Landlord determines that any requirements attributable proposed Expansion Space Improvement depicted therein will alter or affect the structural elements of the Building or any of the systems therein, in which event Landlord’s approval may be withheld in its sole discretion with respect to Tenant’s use such improvements. The Expansion Space Improvements shall be constructed (1) in a good and workmanlike manner, (2) in strict accordance with the terms and conditions of the Original Lease, including but not limited to the terms and conditions of Section 8 thereof and (3) by licensed contractor(s) approved in writing by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed. Any portion of the Refurbishment Allowance with respect to which Tenant fails to submit to Landlord a Draw Request within six (6) months after the Expansion Space Rent Commencement Date (hereinafter defined) shall be retained by Landlord. B. In the event that Tenant notifies Landlord in writing, on or before the date which is thirty (30) days prior to the Expansion Space Rent Commencement Date, that Tenant wishes to increase the Refurbishment Allowance, and Tenant specifies in such notice the amount of such proposed increase, which increase shall not exceed the Maximum Increase Amount (hereinafter defined), and evidences to Landlord’s reasonable satisfaction that the cost of undertaking the Expansion Space Improvements exceeds the Refurbishment Allowance by the approximate amount of the Excess Cost Allowance (hereinafter defined) requested by Tenant’s specific improvements within , then Landlord shall make available to Tenant an additional tenant improvement allowance (the “Excess Cost Allowance”) in the amount requested by Tenant, provided that the Excess Cost Allowance shall not exceed the Maximum Increase Amount. As used herein, the term “Maximum Increase Amount” means the sum of Fifty-One Thousand Nine Hundred Seventy-Five Dollars ($51,975.00) (or Seven and 50/100 Dollars ($7.50) per rentable square foot of the Expansion Space). The Excess Cost Allowance shall be paid out by the Landlord in accordance with the provisions of Paragraph 4(A), above. Tenant shall repay to Landlord the amount of the Excess Cost Allowance over the Expansion Space Term (hereinafter defined), beginning on the Expansion Space Rent Commencement Date, in equal monthly installments in the amount necessary to fully repay to Landlord the Excess Cost Allowance, with interest at the rate of nine percent (9%) per annum, compounded monthly on a constant collection basis, on the outstanding amount thereof, as though the Excess Cost Allowance were a loan made by Landlord to Tenant on the Expansion Space Rent Commencement Date. Such equal monthly installments shall be considered Additional Rent under the Lease and shall be paid together with, and in the same manner as, Expansion Space Annual Base Rent (bhereinafter defined) at Landlord’s sole cost and expensepayable by Tenant pursuant to Paragraph 6, cause below, provided that such installments shall not be subject to the annual escalations applicable to Expansion Space, as Space Annual Base Rent. Upon any termination of the date of delivery of possession thereof, to comply with any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except as set forth in this Section 6Lease, Tenant acknowledges that shall be immediately obligated to repay to Landlord has made no representation or warranty regarding the condition entire amount of the Expansion SpaceExcess Cost Allowance that has not previously been repaid, plus any accrued and unpaid interest thereon, and such obligation shall survive any such termination. As an example of the foregoing, assuming that the Excess Cost Allowance were $10,000.00, the monthly amortized amount of Additional Rent payable by Tenant with respect thereto would be approximately $176.58.

Appears in 1 contract

Samples: Deed of Lease (K12 Inc)

Improvements to the Expansion Space. Promptly after full execution and delivery Landlord agrees to contribute Twelve Dollars ($12.00) per rentable square foot of this Fourth Amendment, Landlord shall, at Landlord’s sole cost and expense and using readily-available Building-standard materials (collectively, the “Improvements”), (i) repaint currently painted walls throughout the Expansion Space; and Space which totals $104,328.00 (iithe "Expansion Space Tenant Allowance") steam clean currently carpeted floors throughout towards the cost of constructing certain tenant improvements (the "Expansion Space. Landlord and Space Tenant hereby acknowledge that the Improvements shall be completed by Landlord prior to the Expansion Commencement Date. Except as specifically set forth in this Section 6, Tenant hereby agrees to accept Improvements") for the Expansion Space in its “as-is” condition accordance with the space plans (the "Expansion Space Plans") to be approved in writing by both Landlord and Tenant hereby acknowledges and attached hereto as Exhibit B. It is understood and agreed that Landlord Landlord's contractors shall not be obligated to provide or pay for any other perform the work or services related to the improvement of the Expansion Space. Landlord shall cause the following elements of the Project serving in connection with the Expansion Space Tenant Improvements. Tenant agrees it shall not make any changes to be the Expansion Space Plans without obtaining the prior written consent of Landlord. If the cost to construct the Expansion Space Tenant Improvements pursuant to the Expansion Space Plans exceeds the Expansion Space Tenant Allowance, or if Tenant shall make changes to the Expansion Space Plans that are approved by Landlord and which result in good working order, condition and repair as of an additional cost to Landlord for completing the date of delivery Expansion Space Tenant Improvements in excess of the Expansion Space to Tenant: (i) Tenant Allowance, or in the heating, ventilating and air conditioning systems servicing the Expansion Space, (ii) the electrical system servicing the Expansion Space, (iii) the fire/life safety system within the Expansion Space, and (iv) the plumbing system servicing the Expansion Space. If any such items are not in good working order, condition and repair as of such date, then as Tenant’s sole remedy, upon notice from event Tenant, Landlord shallits employees or agents, at Landlord’s sole cost and expensecauses any delays or is otherwise responsible, cause such items to be in good working orderwhole or in part, condition and repair; provided, however, that, unless and to the extent such items are not for any additional costs in good working order, condition and repair as a result of latent defects not reasonably discoverable by an inspection of the Project or Expansion Space, if Tenant fails to so notify Landlord in writing that any such items are not in good working order, condition and repair by July 15, 2014 , Landlord shall be deemed to have satisfied its obligations with respect to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article 3 of the Original Lease (and otherwise at Landlord’s sole cost and expense), cause the Project to comply with any applicable requirements of the ADA (provided that this obligation shall not apply to the Expansion Space nor to any requirements attributable to Tenant’s use excess of the Expansion Space or Tenant’s specific improvements within Tenant Allowance incurred by Landlord in constructing the Tenant Improvements, then in any of the foregoing cases, the additional amounts in excess of the Expansion Space), Space Tenant Allowance shall be amortized over the remainder of the Initial Lease Term and the Renewal Term at an interest rate of ten percent (b10%) at Landlord’s sole per annum and payable in monthly installments by Tenant as Additional Rent under the Lease. In the event the cost and expense, cause of the Expansion Space, as Space Tenant Improvements are in excess of the date of delivery of possession thereofExpansion Space Tenant Allowance, Landlord and Tenant will promptly enter into a lease amendment prepared by Landlord to comply with reflect the adjustments to Additional Rent as set forth above. Tenant's failure to timely pay any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except such amounts to be paid by Tenant as set forth in this Section 6Paragraph, at the time and in the manner set forth in this Paragraph or to sign any such lease amendment within five (5) business days after submission to Tenant acknowledges that Landlord has made no representation or warranty regarding (except for delays caused by Landlord), shall constitute an event of default under the condition of the Expansion SpaceLease.

Appears in 1 contract

Samples: Lease Agreement (Deltek Systems Corp)

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Improvements to the Expansion Space. Promptly after full execution and delivery of this Fourth Amendment, Landlord shall, at Landlord’s sole cost and expense and using readily-available Building-standard materials (collectively, the “Improvements”), (i) repaint currently painted walls throughout the Expansion Space; and (ii) steam clean currently carpeted floors throughout the Expansion Space. Landlord and Tenant hereby acknowledge that the Improvements shall be completed by Landlord prior Immediately subsequent to the Expansion Commencement Date. Except as specifically set forth in this Section 6, Tenant hereby agrees to accept the Expansion Space in its “as-is” condition and Tenant hereby acknowledges that Landlord shall not be obligated to provide or pay for any other work or services related to the improvement of the Expansion Space. Landlord shall cause the following elements of the Project serving the Expansion Space to be in good working order, condition and repair as of the date of ----------------------------------- delivery of the Expansion Space to the Tenant: , Tenant shall perform certain work of remodeling or renovation in the Expansion Space (the "Tenant's Work") and Landlord shall provide funding for such work but in no event to exceed $25.00 per square foot of Occupied Area or Seventy-Nine Thousand Eight Hundred Seventy-Five Dollars ($79,875.00) (the "Allowance") including any fees for space planning, design, engineering and permits, etc. (a) Tenant's work shall consist of all work depicted on the space plan (the "Plan") to be prepared by Tenant's planner (the "Planner"), which shall be subject to approval by both Landlord and Tenant. (b) Promptly following the execution and delivery of this Amendment, Tenant shall cause the Planner to prepare and submit for approval by Landlord and Tenant the Plan for Tenant's Work. Upon approval of the Plan by Landlord and Tenant, Tenant shall cause the Planner to prepare the working drawings for Tenant's Work and to apply for and obtain all governmental permits and approvals required in connection with the performance of Tenant's Work. The working drawings shall be subject to approval by both the Landlord and Tenant. (c) Promptly upon approval by Landlord and Tenant of the working drawings for the Tenant's Work, Tenant shall cause three (3) tenant improvements contractors mutually approved by both Tenant and Landlord to prepare and submit to Tenant bids for the cost of construction of Tenant's Work. Tenant shall provide a copy of each such bid to Landlord. Tenant shall select the contractor to perform the Tenant's Work which selection shall be made by Tenant within ten (10) business days of Tenant's receipt of the bids. Landlord shall be responsible for the payment of the cost of construction up to twenty-five dollars ($25.00) per square foot of Occupied Area and Tenant shall be responsible for all additional costs, if any. In the event of any cost over twenty-five dollars ($25.00) per square foot of Occupied Area or the addition of any cost resulting from any change in or addition to Tenant's Work initiated by Tenant, Tenant shall pay such amounts. (d) Promptly following issuance of the governmental permits and approvals necessary for the conduct of Tenant's Work, Tenant shall cause Tenant's contractor to commence Tenant's Work and to diligently prosecute the same to completion. Tenant shall cause Tenant's Work to be completed as promptly as practicable; however, nothing herein shall require Tenant to utilize any overtime or special rate labor. Landlord shall fund one-half (1/2) of the Allowance to Tenant within three (3) business days of the date upon which all of the following have been accomplished: (i) The Plan and the heatingworking drawings have been fully approved by both Landlord and Tenant; (ii) Tenant has approved a bid, ventilating selected a contractor from the three (3) bidders and air conditioning systems servicing executed a construction contract for the Tenant's work with the selected contractor; and (iii) Tenant has received validly issued permits from all applicable governmental agencies having jurisdiction which are required for the Tenant Work in accordance with the Plan and the approved working drawings. Landlord shall fund the remaining one-half (1/2) of the Allowance (or so much thereof as may be necessary for Tenant to satisfy outstanding invoices for the completion of the Tenant Work in accordance with the Plan and the approved working drawings) to Tenant within three (3) business days of the date which is the last to occur of: (1) The Expansion Space, Space Rent Commencement Date; (ii) the electrical system servicing completion by Tenant of all of Tenant's Work, including all punch-list items in conformance with the Expansion Space, Plans and the approved working drawings; and (iii) the fire/life safety system within the Expansion Spacedelivery to Landlord of a list of those persons or entities retained by Tenant or Tenant's contractor to perform any of Tenant's Work together with conditional lien releases or other documentary evidence reasonably satisfactory to Landlord, demonstrating that upon payment to such persons or entities, all rights of lien or actual liens shall be released. Tenant shall be solely responsible to pay for all costs of design and (iv) the plumbing system servicing the Expansion Space. If any such items are not in good working orderconstruction of Tenant's Work, condition and repair as of such date, then as Tenant’s sole remedy, upon notice from Tenant, Landlord shall, at Landlord’s sole cost and expense, cause such items to be in good working order, condition and repair; provided, however, that, unless and subject to the extent such items are not Allowance specified in good working order, condition and repair as a result of latent defects not reasonably discoverable by an inspection this Paragraph 5. In no event shall Landlord be required to fund any portion of the Project or Expansion Space, if Tenant fails to so notify Landlord in writing that Allowance during the pendency of any such items are not in good working order, condition and repair default by July 15, 2014 , Landlord Tenant. (e) Tenant's Work shall be deemed to have satisfied its obligations with respect to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article 3 of the Original Lease (and otherwise at Landlord’s sole cost and expense), cause the Project to comply with any all applicable requirements of all governmental authorities having jurisdiction of the ADA Premises. All Tenant's Work shall comply with all rules and regulations adopted by Landlord for the safety of persons and property in and about the Building, for the care and cleanliness of the Building and for the preservation of the normal operations of the Building and its occupants, including but not limited to rules and regulations regulating the usage of the Building elevators and loading docks, the usage of staging areas outside of the Premises and the hours during which operations involving noise, dust and odors may be performed. With respect to all such matters, Tenant and its contractor shall comply with all directions of Landlord's construction manager. (provided f) Tenant may undertake such additional improvements as Tenant may desire subject to the terms and limitations of the Lease. (g) Tenant's Work shall be undertaken pursuant to the terms and conditions of the Work Letter Agreement attached hereto as Exhibit "B" and made a part hereof. (h) Tenant agrees and understands that the review of the Plan and the working drawings pursuant to this obligation Amendment by Landlord is solely to protect the interests of Landlord in the Building and the Premises, and Landlord shall not apply to be responsible for the Expansion Space nor to any requirements attributable to Tenant’s use correctness or accuracy of the Expansion Space Plan and/or working drawings or Tenant’s specific improvements within the Expansion Space), and (b) at Landlord’s sole cost and expense, cause the Expansion Space, as compliance of the date of delivery of possession thereof, to comply Plan and/or working drawings with any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except as set forth in this Section 6, Tenant acknowledges that Landlord has made no representation or warranty regarding the condition of the Expansion Spacelaws.

Appears in 1 contract

Samples: Office Lease (Us Facilities Corp)

Improvements to the Expansion Space. Promptly after Upon full execution and delivery of this Fourth Fifth Amendment, Landlord shall, at Landlord’s sole cost and expense and using readilyTenant shall be entitled to a one-available Building-standard materials time improvement allowance (collectively, the “ImprovementsImprovement Allowance”) in the amount of $[***] for the costs relating to certain improvement work in the Expansion Space (the “Improvement Work”), (i) repaint currently which work shall include, but is not limited to, repainting painted walls throughout the Expansion Space; Space and (ii) steam clean currently carpeted floors repairing carpeting throughout the Expansion Space. Notwithstanding the foregoing, Tenant shall have the right to apply any unused portion of the Improvement Allowance, if any, toward its Monthly Basic Rental obligation for the Expansion Space following Landlord’s receipt of Tenant’s written request therefor. In no event shall Landlord be obligated to make disbursements pursuant to this Section 6 in a total amount which exceeds the Improvement Allowance and in no event shall Tenant hereby acknowledge that be entitled to any credit for any unused portion of the Improvements Improvement Allowance not used by Tenant by May 31, 2015. Landlord shall independently retain the contractor, on behalf of Tenant, to perform the Improvement Work within the Expansion Space and Landlord shall coordinate such work by said contractor and use its commercially reasonable efforts to cause the Improvement Work to be completed by Landlord prior to the Expansion Commencement Date, provided Tenant has timely executed this Fifth Amendment. Tenant hereby agrees that the performance of the Improvement Work shall in no way constitute a constructive eviction of Tenant nor entitle Tenant to any abatement of Basic Rental payable pursuant to this Fifth Amendment. Landlord shall have no responsibility or for any reason be liable to Tenant for any direct or indirect injury to or interference with Tenant’s business arising from the performance of the Improvement Work, nor shall Tenant be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Expansion Space resulting from the performance of the Improvement Work or for any inconvenience or annoyance occasioned by the performance of such work,. Except as specifically set forth in this Section 6, Tenant hereby agrees to accept the Expansion Space in its “as-is” condition and Tenant hereby acknowledges that Landlord shall not be obligated to provide or pay for any other work or services related to the improvement of the Expansion Space. Landlord shall cause the following elements of the Project 26632 Building serving the Expansion Space to be in good working order, condition and repair as of the date of delivery of the Expansion Space to TenantCommencement Date: (i) the heating, ventilating and air conditioning systems servicing the Expansion Space, (ii) the electrical system servicing the Expansion Space, (iii) the fire/life safety system within the Expansion Space, and (iv) the plumbing system servicing the Expansion Space. If any such items are not in good working order, condition and repair as of such date, then as Tenant’s sole remedy, upon notice from Tenant, Landlord shall, at Landlord’s sole cost and expense, cause such items to be in good working order, condition and repair; provided, however, that, unless and to the extent such items are not in good working order, condition and repair as a result of latent defects not reasonably discoverable by an inspection of the Project 26632 Building or Expansion Space, if Tenant fails to so notify Landlord in writing that any such items are not in good working order, condition and repair by July November 15, 2014 2014, Landlord shall be deemed to have satisfied its obligations with respect to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article Section 3 of the Original Lease (and otherwise at Landlord’s sole cost and expense), cause the Project 26632 Building to comply with any applicable requirements of the ADA (provided that this obligation shall not apply to the Expansion Space nor to any requirements attributable to Tenant’s use of the Expansion Space or Tenant’s specific improvements within the Expansion Space), and (b) at Landlord’s sole cost and expense, cause the Expansion Space, as of the date of delivery of possession thereofExpansion Commencement Date, to comply with any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except as set forth in this Section 6, Tenant also acknowledges that Landlord has made no representation or warranty regarding the condition of the Expansion Space.

Appears in 1 contract

Samples: Lease (loanDepot, Inc.)

Improvements to the Expansion Space. Promptly after Upon full execution and delivery of this Fourth AmendmentFirst Amendment by Landlord and Tenant, Landlord shallTenant shall cause certain work to be performed in the Expansion Space pursuant to the Tenant Work Letter attached hereto as EXHIBIT B, at Landlord’s sole cost and expense and using readily-available Building-standard quantities and materials (collectively, the “Improvements”), (i) repaint currently painted walls throughout the Expansion Space; and (ii) steam clean currently carpeted floors throughout the Expansion Space. Landlord and Tenant hereby acknowledge agrees that the construction of the Improvements shall in no way constitute a constructive eviction of Tenant nor entitle Tenant to any abatement of Basic Rental payable pursuant to this First Amendment. Landlord shall have no responsibility or for any reason be completed by liable to Tenant for any direct or indirect injury to or interference with Tenant’s business arising from the construction of the Improvements, nor shall Tenant be entitled to any compensation or damages from Landlord prior to for loss of the use of the whole or any part of the Expansion Commencement DateSpace resulting from the construction of the Improvements or for any inconvenience or annoyance occasioned by the construction of the Improvements. Except as specifically set forth in this Section 6First Amendment, Tenant hereby agrees to accept the Expansion Space in its “as-is” condition and Tenant hereby acknowledges that Landlord shall not be obligated to provide or pay for any other improvement work or services related to the improvement of the Expansion Space. Landlord shall cause the following elements of the Project serving the Expansion Space to be in good working order, condition and repair as of the date of delivery of the Expansion Space to Tenant: (i) the heating, ventilating and air conditioning systems servicing the Expansion Space, (ii) the electrical system servicing the Expansion Space, (iii) the fire/life safety system within the Expansion Space, and (iv) the plumbing system servicing the Expansion Space. If any such items are not in good working order, condition and repair as of such date, then as Tenant’s sole remedy, upon notice from Tenant, Landlord shall, at Landlord’s sole cost and expense, cause such items to be in good working order, condition and repair; provided, however, that, unless and to the extent such items are not in good working order, condition and repair as a result of latent defects not reasonably discoverable by an inspection of the Project or Expansion Space, if Tenant fails to so notify Landlord in writing that any such items are not in good working order, condition and repair by July 15, 2014 , Landlord shall be deemed to have satisfied its obligations with respect to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article 3 of the Original Lease (and otherwise at Landlord’s sole cost and expense), cause the Project to comply with any applicable requirements of the ADA (provided that this obligation shall not apply to the Expansion Space nor to any requirements attributable to Tenant’s use of the Expansion Space or Tenant’s specific improvements within the Expansion Space), and (b) at Landlord’s sole cost and expense, cause the Expansion Space, as of the date of delivery of possession thereof, to comply with any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except as set forth in this Section 6, Tenant also acknowledges that Landlord has made no representation or warranty regarding the condition of the Expansion Space.

Appears in 1 contract

Samples: Lease (Horizon Pharma, Inc.)

Improvements to the Expansion Space. Promptly after full execution and delivery of this Fourth Third Amendment, Landlord shall, at Landlord’s sole cost and expense and using readily-available Building-standard materials (collectively, the “Improvements”), (i) repaint currently painted walls throughout the Expansion Space; and (ii) steam clean currently carpeted floors throughout the Expansion Space; and (iii) create a five-foot wide opening in the existing demising wall between Suites 310 and 305 as depicted on EXHIBIT A attached hereto, and move the existing demising wall between Xxxxx 000 xxx Xxxxx 000 to the location depicted on EXHIBIT A attached hereto (item (iii) to be referred to herein as the “Suite Configuration Work”). Landlord and Tenant hereby acknowledge that the Improvements Improvements, other than the Suite Configuration Work, shall be completed by Landlord prior to the Expansion Commencement Date. Landlord and Tenant hereby acknowledge that the Suite Configuration Work may be completed by Landlord after the Expansion Commencement Date, but any such work after the Expansion Commencement Date shall be performed during non-normal business hours. Tenant hereby agrees that the performance of the Improvements shall in no way constitute a constructive eviction of Tenant nor entitle Tenant to any abatement of Basic Rental for the Expansion Space payable pursuant to this Third Amendment. Landlord shall have no responsibility or for any reason be liable to Tenant for any direct or indirect injury to or interference with Tenant’s business arising from the performance of the Improvements, nor shall Tenant be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Expansion Space resulting from the performance of the Improvements or for any inconvenience or annoyance occasioned by the performance of the Improvements. Except as specifically set forth in this Section 6, Tenant hereby agrees to accept the Expansion Space in its “as-is” condition and Tenant hereby acknowledges that Landlord shall not be obligated to provide or pay for any other work or services related to the improvement of the Expansion Space. Landlord shall cause the following elements of the Project serving the Expansion Space to be in good working order, condition and repair as of the date of delivery of the Expansion Space to Tenant: (i) the heating, ventilating and air conditioning systems servicing the Expansion Space, (ii) the electrical system servicing the Expansion Space, (iii) the fire/life safety system within the Expansion Space, and (iv) the plumbing system servicing the Expansion Space. If any such items are not in good working order, condition and repair as of such date, then as Tenant’s sole remedy, upon notice from Tenant, Landlord shall, at Landlord’s sole cost and expense, cause such items to be in good working order, condition and repair; provided, however, that, unless and to the extent such items are not in good working order, condition and repair as a result of latent defects not reasonably discoverable by an inspection of the Project or Expansion Space, if Tenant fails to so notify Landlord in writing that any such items are not in good working order, condition and repair by July within fifteen (15, 2014 ) business days after Landlord’s delivery of the Expansion Space to Tenant, Landlord shall be deemed to have satisfied its obligations with respect to this paragraph. Furthermore, Landlord shall (a) as an Operating Cost to the extent permitted by Article 3 of the Original Lease (and otherwise at Landlord’s sole cost and expense), cause the Project project to comply with any applicable requirements of the ADA (provided that this obligation shall not apply to the Expansion Space nor to any requirements attributable to Tenant’s use of the Expansion Space or Tenant’s specific improvements within the Expansion Space), and (b) at Landlord’s sole cost and expense, cause the Expansion Space, as of the date of delivery of possession thereof, to comply with any applicable Laws regarding mold, mildew, fungus or other dangerous organisms. Except as set forth in this Section 6, Tenant acknowledges that Landlord has made no representation or warranty regarding the condition of the Expansion Space.

Appears in 1 contract

Samples: Lease (loanDepot, Inc.)

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