Initial Capital Improvements. For all Capital Improvements included in the Budget or otherwise authorized by the Controlling Party subsequent to the date hereof, Lessee (or its designee) shall complete such improvements within the time frame set forth in the Budget or within 12 months within the date such Capital Improvements are so authorized by the Controlling Party or within such other completion period as Controlling Party may specify in writing. All Capital Improvements shall be made in a good and workmanlike manner and shall be completed free and clear of any mechanic's or materialman's liens and encumbrances. Lessee shall pay all costs necessary for completion of the Capital Improvements without regard to the sufficiency of the funds in the Capital Improvements Account.
(c) Disbursements from the Capital Improvements Account.
(i) Upon written request from Lessee, the Controlling Party may authorize Trustee to disburse to Lessee amounts from the Capital Improvements Account to reimburse the Lessee for the actual cost of any Capital Improvement. No disbursement shall be made unless Controlling Party has determined that such disbursement complies with the requirements of this Section 3.2 and authorized Trustee in writing to make such disbursement.
(ii) To the extent that a particular capital expenditure has been provided for in the Budget or previously approved in writing by the Controlling Party, Lessee shall be entitled to payment of invoices presented to the Controlling Party so long as the following procedures are followed: Lessee shall submit a request for payment of an invoice in writing (an "INVOICE PAYMENT REQUEST") which (i) sets forth the Capital Improvement (from the Budget or from the approval by the Controlling Party) for which such request relates, (ii) states whether such payment relates to equipment, materials or labor, or a combination thereof, (iii) to the extent such payment relates to equipment or materials, gives a brief summary of the items purchased and their purpose, (iv) to the extent such payment relates to labor, gives a brief description of the labor performed and its purpose, and (v) attaches the applicable invoice for payment, clearly indicating the items covered thereby and for which of the Properties such invoice relates. Upon presentation of an Invoice Payment Request in form and substance satisfactory to the Controlling Party, the Controlling Party shall instruct Trustee to withdraw the applicable amount from the Capital Improvements Account and re...
Initial Capital Improvements. Notwithstanding any other provision in this ---------------------------- Lease to the contrary, Tenant shall cause AGC to design, develop and construct the "NGP Funded Initial Capital Improvements" (as defined in Exhibit G of this Lease) within one hundred twenty (120) days after the ---------
Initial Capital Improvements. The City and CRA will confer with Development Entity, as appropriate, regarding the Initial Capital Improvements. The Cambridge City Council has appropriated six million dollars ($6,000,000) for the Initial Capital Improvements, of which approximately $700,000 has been expended to demolish existing interior partitions, and the City shall expend substantially all of the remainder of such amount during the time prior to the execution Term of this Sublease and within the first ten (10) years of such term. Development Entity may request that the City and CRA make certain Initial Capital Improvements in coordination with Development Entity’s Initial Work or Post Occupancy Improvements.
Initial Capital Improvements. For the purpose of this Lease Agreement ,
