Common use of Landlord’s Allowance Clause in Contracts

Landlord’s Allowance. Landlord agrees to pay Tenant the "Allowance," to be applied to the cost of designing and performing Tenant Improvements as well as moving costs, move related expenses, space planning and project management fees (collectively "Reimbursable Services"), equal to the Maximum Allowance Amount. Landlord will pay the amount of the Allowance to Tenant in progress payments after the Start Date of the Tenant Finish Period. Such progress payments will be made not later than thirty (30) days after receipt by Landlord from Tenant of copies of Tenant's invoices from Tenant's Architect, Contractor (and, where applicable, copies of Contractor's invoices from its subcontractors or suppliers) or any other vendor performing Reimbursable Services, and, where applicable, a certificate from Tenant's Architect or Landlord's Representative indicating that the work to which such invoices relate has been substantially completed and/or the materials to which such invoices relate have been installed in, or delivered to, the Premises. Such progress payments will be made payable to Tenant. As a condition precedent to Landlord's issuing any such progress payment subsequent to the first such progress payment, Tenant will deliver to Landlord original lien waivers from Contractor with respect to the labor and materials reflected in the invoices submitted for the immediately preceding progress payment have been waived. A further condition precedent to Landlord's issuing the last such payment for the amount of the retainage will be that Landlord has received from Tenant (either prior to or simultaneously with the issuance of such final payment) the following: (a) written notice from Contractor and Tenant's Architect or Landlord's Representative that Tenant's WorkTenant Improvements has been completed (including completion of any punch list items); (b) final and unconditional original lien waivers from Contractor and all subcontractors, suppliers, materialmen and other parties who performed labor at, or supplied materials to, the Premises in connection with Tenant's WorkTenant Improvements; and (c) a copy of the certificate of occupancy for the Premises issued by the appropriate governmental authorities. Landlord will have no obligation to make any such progress payment at any time that a Default exists under the Lease. In the event the Allowances are not completely utilized, any monies not spent on the Tenant Improvements Reimbursable Services shall be paid directly to Tenant upon Commencement to use as Tenant sees fit.

Landlord’s Allowance. The Initial Improvements (as well as installation of Tenant’s own trade fixtures, equipment and furniture) are to be constructed at Tenant’s expense. Landlord agrees has agreed to pay provide Tenant with an improvement allowance of up to $1,761,200.00 (the "“Landlord’s Allowance," ”), to be applied to toward the cost of designing and performing the Initial Improvements. Up to $125,800.00 of the Landlord’s Allowance may be used by Tenant Improvements as well as moving for moving, cabling costs, move and furniture costs related expenses, space planning and project management fees (collectively "Reimbursable Services"), equal to the Maximum New Premises. Tenant may submit requests for disbursements of the Landlord’s Allowance Amountnot more than monthly. To draw on the Landlord’s Allowance, Tenant must submit to Landlord a written notice requesting disbursement, together with (i) invoices for all costs included in the request for disbursement, (ii) proof that such costs have been paid, including appropriate lien waivers in a form acceptable to Landlord, and (iii) such other documentation as Landlord may reasonably request. Landlord will pay shall make disbursements for the amount requested portion of the Landlord’s Allowance within sixty (60) days following Landlord’s receipt of a proper request for disbursement and Landlord may make such disbursements to Tenant in progress payments after or pay directly to Tenant’s contractors, as agreed to by Landlord and Tenant. Tenant will be responsible for paying the Start Date excess of the Tenant Finish Period. Such progress payments will be made not later than thirty (30) days after receipt by Landlord from Tenant of copies of Tenant's invoices from Tenant's Architect, Contractor (and, where applicable, copies of Contractor's invoices from its subcontractors or suppliers) or any other vendor performing Reimbursable Services, and, where applicable, a certificate from Tenant's Architect or Landlord's Representative indicating that the work to which such invoices relate has been substantially completed and/or the materials to which such invoices relate have been installed in, or delivered to, the Premises. Such progress payments will be made payable to Tenant. As a condition precedent to Landlord's issuing any such progress payment subsequent to the first such progress payment, Tenant will deliver to Landlord original lien waivers from Contractor with respect to the labor and materials reflected in the invoices submitted for the immediately preceding progress payment have been waived. A further condition precedent to Landlord's issuing the last such payment for the amount cost of the retainage will be that Landlord has received from Tenant (either prior to or simultaneously with Initial Improvements over the issuance of such final payment) the following: (a) written notice from Contractor and Tenant's Architect or Landlord's Representative that Tenant's WorkTenant Improvements has been completed (including completion of any punch list items); (b) final and unconditional original lien waivers from Contractor and all subcontractors, suppliers, materialmen and other parties who performed labor at, or supplied materials to, the Premises in connection with Tenant's WorkTenant Improvements; and (c) a copy of the certificate of occupancy for the Premises issued by the appropriate governmental authorities. Landlord will have no obligation to make any such progress payment at any time that a Default exists under the Lease’s Allowance. In the event the Allowances are actual cost of the Initial Improvements is less than the Landlord’s Allowance, Tenant shall not completely utilizedbe entitled to any additional Initial Improvements or a rebate or credit against Rent, and the unused portion of the Landlord’s Allowance shall remain the property of Landlord except for up to up to $125,800.00. If the Initial Improvements to be constructed with the Landlord’s Allowance have not commenced as of twelve (12) months from the Extension Commencement Date, Landlord’s obligation to provide sums to construct the Initial Improvements shall terminate, and the Landlord’s Allowance shall expire. No disbursement of any monies part of the Landlord’s Allowance by Landlord will constitute acceptance of any condition of the Initial Improvements, an approval of any action taken or omission of Tenant or its contractors, subcontractors and material suppliers, or waive any other rights or claims that Landlord might have at law or in equity. In the event that Landlord does not spent on make disbursement of the Landlord’s Allowance within sixty (60) days following Landlord’s receipt of a proper request for disbursement, Tenant Improvements Reimbursable Services shall be paid directly provide a second, written notice to Landlord requesting payment within ten (10) business days following Landlord’s receipt of such notice. If Landlord fails to make payment following such ten (10) business day period, Tenant upon Commencement to use as Tenant sees fitmay offset the requested disbursement amount against Rent.

Landlord’s Allowance. Landlord agrees to pay Tenant the "“Allowance," ” to be applied to the cost of designing and performing Tenant Improvements as well as moving costs, move related expenses, space planning and project management fees (collectively "Reimbursable Services")Tenant’s Work, equal to the lesser of (a) Tenant’s Costs, or (b) the Maximum Allowance AmountAmount (which may be prorated in accordance with Paragraph 1(j) of this Work Letter). As used below, “Landlord’s Percentage” means that percentage obtained by dividing the Maximum Allowance Amount (which may be prorated in accordance with Paragraph 1(j) of the Work Letter) by the then-current estimate of the total Tenant’s Costs (based on Tenant’s contracts with Tenant’s Architect, Tenant’s Engineers and Contractor); provided that Landlord’s Percentage will never exceed 100%. Landlord will pay the amount of the Allowance to Tenant in progress payments after no more than on a monthly basis upon the Start Date completion of the Tenant Finish PeriodTenant’s Work in each Building. Such progress payments will be made not later than thirty (30) 30 days after receipt by Landlord from Tenant of copies of Tenant's ’s invoices from Tenant's Architect, Contractor (and, where applicable, copies of Contractor's ’s invoices from its subcontractors or suppliers) or any other vendor performing Reimbursable Services, and, where applicable, together with a certificate from Tenant's ’s Architect (or other evidence satisfactory to Landlord's Representative ) indicating that the work to which such invoices relate has been substantially completed and/or the materials to which such invoices relate have been installed in, or delivered to, the Premises, and such work is for the completion of Tenant’s Work in the applicable Building. Such progress payments will be made payable to TenantTenant or Contractor, and will be for Landlord’s Percentage of the amount of the submitted invoices, less a 10% retainage. As a condition precedent to Landlord delivering the first such progress payment, Tenant will deliver to Landlord original conditional lien waivers for the work completed or materials supplied as of the date of such lien waiver. As a condition precedent to Landlord's ’s issuing any such progress payment subsequent to the first such progress payment, Tenant will deliver to Landlord both original lien waivers from Contractor and any applicable subcontractor or supplier indicating that claims for mechanics’ or materialmen’s liens with respect to the labor and materials reflected in the invoices submitted for the immediately preceding progress payment have been waivedunconditionally waived and original conditional lien waivers for the work completed or materials supplied as of the date of each such lien waiver subsequent to such preceding progress payment. A further condition precedent to Landlord's ’s issuing the last such payment for the amount of the retainage will be that Landlord has received from Tenant (either prior to or simultaneously with the issuance of such final payment) the following: (ai) written notice from Contractor and Tenant's ’s Architect (or other evidence satisfactory to Landlord's Representative ) that Tenant's WorkTenant Improvements ’s Work has been completed (including completion of any punch list items); (bii) final and unconditional original lien waivers from Contractor and all subcontractors, suppliers, materialmen and other parties who performed labor at, or supplied materials to, the Premises in connection with Tenant's WorkTenant Improvements’s Work; and (ciii) a copy of the certificate of occupancy for the Premises issued by the appropriate governmental authorities. Landlord will have no obligation to make any such progress payment at any time that a Default exists under the LeaseLease and the total of all such progress payments will in no event exceed the amount of the Allowance. In Landlord will have no obligation to disburse any portion of the event Allowance, including any retainage, after the Allowances are date that is one year following the Start Date. Tenant will not completely utilized, be entitled to any monies not spent on credit if the Tenant Improvements Reimbursable Services shall be paid directly to Tenant upon Commencement to use as Tenant sees fitMaximum Allowance Amount exceeds Tenant’s Cost.

Landlord’s Allowance. Landlord agrees to pay Tenant the "Allowance," to be applied to the cost of designing and performing Tenant Improvements as well as moving costs, move related expenses, space planning and project management fees (collectively "Reimbursable Services")Tenant's Work, equal to the lesser of (a) Tenant's Costs plus Additional Costs, if any, or (b) the Maximum Allowance Amount. As used below, "Landlord's Percentage" means that percentage obtained by dividing the Maximum Allowance Amount by the then-current estimate of the total Tenant's Costs (based on Tenant's contracts with Tenant's Architect, Tenant's Engineers and Contractor); provided that Landlord's Percentage will never exceed 100%. Landlord will pay the amount of the Allowance to Tenant in progress payments after the Start Date commencement of the Tenant Finish Period. Such progress payments will be made not later than thirty (30) 30 days after receipt by Landlord from Tenant of copies of Tenant's invoices from Tenant's Architect, Contractor (and, where applicable, copies of Contractor's invoices from its subcontractors or suppliers) or any other vendor performing Reimbursable Services, and, where applicable, together with a certificate from Tenant's Architect (or other evidence satisfactory to Landlord's Representative ) indicating that the work to which such invoices relate has been substantially completed and/or the materials to which such invoices relate have been installed in, or delivered to, the Premises. Such progress payments will be made payable to Tenant and Contractor, and will be for Landlord's Percentage of the amount of the submitted invoices, less a 10% retainage, unless Tenant's contracts provide for at least a 10% retainage, in which case Landlord will waive its retainage. As a condition precedent to Landlord's issuing any such progress payment subsequent to the first such progress payment, Tenant will deliver to Landlord original lien waivers from Contractor and any applicable subcontractor or supplier indicating that claims for mechanics' or materialmen's liens with respect to the labor and materials reflected in the invoices submitted for the immediately preceding progress payment have been waived. A further condition precedent to Landlord's issuing the last such payment for the amount of the retainage will be that Landlord has received from Tenant (either prior to or simultaneously with the issuance of such final payment) the following: (a) written notice from Contractor and Tenant's Architect (or other evidence satisfactory to Landlord's Representative ) that Tenant's WorkTenant Improvements Work has been completed (including completion of any punch list items); (b) final and unconditional original lien waivers from Contractor and all subcontractors, suppliers, materialmen and other parties who performed labor at, or supplied materials to, the Premises in connection with Tenant's WorkTenant ImprovementsWork; and (c) a copy of the certificate of occupancy for the Premises issued by the appropriate governmental authorities. Landlord will have no obligation to make any such progress payment at any time that a Default exists under the LeaseLease and the total of all such progress payments will in no event exceed the amount of the Allowance. In no event will Landlord pay any Additional Costs unless and until the event the Allowances requirements of Subparagraph l(p) above are not completely utilized, any monies not spent on the Tenant Improvements Reimbursable Services shall be paid directly to Tenant upon Commencement to use as Tenant sees fitsatisfied.