Interior Improvement Allowance Clause Samples
Interior Improvement Allowance. Landlord shall pay to Tenant an ------------------------------ improvement allowance for use in construction of the Interior Improvements equal to Two Hundred Eighty-Two Thousand Eight Hundred Forty Dollars ($282,840) ("Improvement Allowance"). Landlord shall pay the Improvement Allowance to Tenant upon the closing of a refinancing by Landlord of the existing monetary encumbrances on the Land and Building, provided that no mechanics' liens or similar liens for labor or material supplied to the Interior Improvements have been filed or asserted against the Demised Premises. Landlord shall use its best efforts to obtain such refinancing within nine (9) months after the Date of Execution. The unpaid balance of the Improvement Allowance shall be increased by one percent (1%) for each month that payment of the Improvement Allowance is delayed beyond nine (9) months after Date of Execution, prorated for any partial month on the basis of a thirty (30) day month. Notwithstanding the provisions of Article IV, Paragraph 4, if payment of the Improvement Allowance is delayed beyond twelve (12) months after the Date of Execution, Tenant may deduct the remaining balance of the Improvement Allowance from the net payments of Rent coming due according to the following schedule: (i) Tenant may deduct all but Ten Thousand Dollars ($10,000) from the first such Base Rent payment all but the Minimum Additional Rent from the first such Additional Rent payment, (ii)Tenant may deduct all but Five Thousand Dollars ($5,000) from the next such Base Rent payment and all but the Minimum Additional Rent from the next such Additional Rent payment, and (iii) Tenant may deduct all of each remaining Base Rent payment and all but the Minimum Additional Rent from each remaining Additional Rent payment, until Tenant has recovered the remaining unpaid balance of the Improvement Allowance. Tenant shall be responsible for payment of all Improvement Costs in excess of the Improvement Allowance.
Interior Improvement Allowance. The term "Interior Improvement ------------------------------ Allowance" shall mean an amount equal to Twenty-Six Dollars and 25/100 Cents ($26.25) per rentable square foot of the Building (reasonably determined in accordance with BOMA standards) for all Interior Improvements and an additional Five Thousand Dollars ($5,000.00) for Tenant's signs.
Interior Improvement Allowance. Landlord shall provide Tenant with an “Interior Improvement Allowance” in the amount of Twenty Five Thousand Dollars ($25,000.00), which amount shall be applied by Tenant toward the construction and installation of tenant improvements in the Premises (which improvements shall be subject to Paragraph 13 of the Original Lease) and which amount shall be disbursed to Tenant within 45 days from Tenant submitting paid invoices for improvement work completed in the Premises.